Sothebys

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Posted By: WP

Why did this sell so cheap?
http://cgi.liveauctions.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=6534005164&category=28221&sspagename=WDVW

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Posted By: Elliot

I would raise two points:

1) the bidding started at $19k...my guess is that one guy started it high and scared off people who thought they would have no chance to outbid the guy. Sort of like us panhandlers when we need to bid against Hal.

2) things like this lot can happen at a live auction where people don't have a chance to react. By the time they think to themselves I should bid because nobody else is and the lot is going cheap, the lot has closed.

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Posted By: warshawlaw

For a bit over 200 a card; should have sold for 50% more.

I think this ebay live format absolutely sucks and is responsible for much of the problem. The way it handles the bids is almost like using the ebay bidder as a shill to drive up the price for the live bidders. There has to be one set of rules that applies to all bidders, period.

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Posted By: scott brockelman

i was the underbidder on lot 120 and could not see going higher based on the condition and the fact another increment would have placed the final price near $23K. a big gamble without seeing all of the cards, and many of the keys as seen in the auction plate were qualified.

scott

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Posted By: Gilbert Porter

I was one othe "live" attendees of this auction - one of many I might add. I do not think that the eBay live component was a negative at all. Though I do believe that it is a poor second to live attendance. In general, Sothebys handled the auction in a first-class mannner.

I think several lots were held back by the combination of a high buyer's fee of 20% and, for those hobbyists in NY who are not exempt from sales tax, an additional 8.35%. That, and the fact that every auction has a rhythm of ups and downs - where bidders leave the room or check in with their clients - one that you cannot see unless you are there in person. Keep in mind that most of the lots were won by live attendees, with telephone bidders second and eBay a distant third.

I distinctly remember this lot going cheap and was puzzled at the time. It did not open at 19 - but the bidding stopped abruptly at that point, to my surprise. I was sorely tempted to bid myself, but was saving my limited funds for other things. That said, if you add in the rest of the fees and possible taxes, the next bid of $20K would put it at SMR ($25,600), and the next increment after that - $22,500 - would take you over (about $29K).

One thing that was evident from attending the auction live - the high price items were dominated by a relatively small number of puchasers. Thus, it may simply be that this card was not on the purchasing list of the elite collectors at the auction, and therefore sold at a "wholesale" price. I feel bad, though, for the seller - would have done better walking it through a card show instead.

.

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Posted By: warshawlaw

Lot 120 was 12 boxing cabinet cards.

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Posted By: scott brockelman

the reason 120 sold so cheap was they failed to call me on it, that was another of my phone line lots, but i never got a call.

i was going to bid as adam indicated $400 per card or so. did anyone here win it, i have a few dupes to trade.

scott

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Posted By: warshawlaw

who else out there is in the boxing card closet?

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Posted By: tbob

The reason I opted out of Sotheby's auction was when I was registering on ebay, it asked me to give my bank account number and other personal information. I bid in Mastro, Edwards, Classic, Grey Flannel, Sloate, Lipset, Heritage, Hakes, Lelands, and even once in a while in Clean Sweep, but I will be darned if I am going to transmit all that frigging info over the Internet just to bid in their auction. They say that they need to check your bank account to make sure you have the money on deposit to cover your bids. I am not kidding! Nice way to make friends and accumulate new bidders...

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Posted By: Hal Lewis

TBob - To make it even worse... they are also SportsCardsPlus...

and I had a super track record of buying big ticket items from them...

but they STILL want all that information.

NO WAY are they getting it from me.

They can keep their cards.

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Posted By: David Vargha

I didn't win anything. However, I registered to have someone bid for me in person. All Sotheby's required of me was that I fax over my name, address and telephone number. They didn't even ask for any references.

DavidVargha@hotmail.com

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Posted By: warshawlaw

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Posted By: David Vargha

Now that you mention it, it did seem a little too easy.

DavidVargha@hotmail.com

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Posted By: Anonymous

Vargie..did you not want me to tell them about your trust fund

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Posted By: David Vargha

Dave, my trust fund consists of when I win a card, I say, "trust me, I'm gonna come up with the funds to pay for this somehow."

DavidVargha@hotmail.com