What do consignors want from an auction house?

[Archive]

Posted By: Joe D.

Scott,

I have to ask... if you never really priced it - where are you coming up with your numbers? Or more importantly, where are you coming up with the 'value' of a printed catalog?

Most definitely there are cheaper ways to do things (postcards). It comes down to forgetability. Do you want your auction to be forgetable during the auction? Do you want your auction to be forgetable after it ends?

A common theme in this thread (not just by me) is the importance of the catalog.

I have to say there is a place for internet-only type auctions and for that business model. In my opinion, that is for the low-end item... the common eBay type item. I think the market size is tremendous... and if that is what a person is after - a reminder postcard may be all that is needed.

The 'better' items will go to the auction houses that differentiate themselves from the common internet-only. That is done through reputation, communication, integrity. After the all-important trust is developed, the catalog is a an integral vehicle for the better auction houses.

Would I want to consign my T206 Honus Wagner to someone who just sends out a postcard and relies on people going online to know about the auction?

As far as magazines / newspapers / any printed items for that matter... you are absolutely correct, more and more is getting moved to the internet or email marketing. Most importanly though, professionals are looking to provide the proper balance - and are not looking to eliminate or replace one form of communication with another. The best strategies include both online and traditional print. For certain campaigns, going exclusively 'online' is just as foolish as going exclusively 'print'. The day the New York Times stops printing physical newspapers is the day they open up the door for someone else to print newspapers and be in the hands of their customers every day. That new company with the physical print newspaper and website balance would eventually outshine any 'one way only' provider.

There is a market for the internet-only auction house. I think a very nice sized market with a big competitor (eBay). For the better items, in my opinion, it would be foolish to go without a printed catalog -- just as foolish as going without an accompanying website.