Why are auctions so popular?

ejharrington · #1 01-14-2015, 01:53 PM

Go to a card show and every dealer there prices the cards multiple times what they are really worth trying to suck in inexperienced / impulsive buyers. It's almost impossible to buy anything of value for a reasonable price, even with negotiations. Auctions don't have that issue.

1952boyntoncollector · #2 01-14-2015, 02:14 PM

Quote:

Originally Posted by ejharrington

Go to a card show and every dealer there prices the cards multiple times what they are really worth trying to suck in inexperienced / impulsive buyers. It's almost impossible to buy anything of value for a reasonable price, even with negotiations. Auctions don't have that issue.

right I hate putting a price on a card that is the lowest I would take because buyers always want to offer less...so I can see why sellers price the card higher then they are willing to take

ullmandds · #3 01-14-2015, 02:30 PM

Lottery mentality...the hopes that 2 or more guys really really want your card and beat the crap out of each over it...and the result is you win a lottery of sorts! That is a big draw of the auctions.

Additionally the fact that many people cannot price their cards...mostly in fear that they will sell too low...auctions usually take care of this too.

Finally that most auction houses will not charge consignment fee if you have quality shit...before this trend I had never consigned nor would I have with this 15-20% skimmed right off the top....a trend which is somewhat unique in the antiques/collectibles auction world.

ejharrington · #4 01-14-2015, 02:31 PM

I have offered fair market values for cards at shows. I know they are FMV offers because I track these cards closely and have a relatively limited collection scope. The dealers across the board never even get close to FMV. It's like they are there to show off their cards and if an inexperienced / impulsive buyer comes along they can make a killing. I don't even bother with the card shows anymore.

ullmandds · #5 01-14-2015, 02:35 PM

Quote:

Originally Posted by ejharrington

I have offered fair market values for cards at shows. I know they are FMV offers because I track these cards closely and have a relatively limited collection scope. The dealers across the board never even get close to FMV. It's like they are there to show off their cards and if an inexperienced / impulsive buyer comes along they can make a killing. I don't even bother with the card shows anymore.

Agreed...most card shows dont have much vintage and the ones that do can be a lot like museums! But there are people at the national(which is really the only show I attend these days/...and not every year) who want to move cards...you just have to find them and hope they have something u want!

barrysloate · #6 01-14-2015, 04:29 PM

A couple of more thoughts:

Many don't like direct sales because they have had bad experiences, particularly at shows where dealers put obscene prices on things. So wouldn't it stand to reason that a dealer who puts realistic prices on cards would have a very viable business model?

Collectors also feel that auction prices are the best indicator of market value, assuming there hasn't been any shilling. But if shilling is as rampant as some believe, then in the end auction prices really aren't that good of a barometer.

jbsports33 · #7 01-14-2015, 04:34 PM

Barry,

I understand - I help a lot of dealers that just get burned out selling and buying, so instead of going the auction route I have spent time helping others. Back in the day your site gave me some great ideas for my website, but to start an auction site you need time. I am happy with the progress I have made and even had ads on this site, maybe I can again at some point for my webstore

The Saco Maine Auction is getting a lot of bids

Good Post!

Runscott · #8 01-14-2015, 04:47 PM

Barry, since I don't have the visibility to have major finds walk into my office at cut-rate prices, for me auctions are the only way of obtaining inventory at a price that allows me to make a profit. If everything were sold at market value I would have to get a real job.

barrysloate · #9 01-14-2015, 05:25 PM

I realize it's easier for a dealer to sell his inventory than to replace it. That partially explains why retail prices are often so high.

Leon · #10 01-15-2015, 06:59 PM

Quote:

Originally Posted by 1952boyntoncollector

right I hate putting a price on a card that is the lowest I would take because buyers always want to offer less...so I can see why sellers price the card higher then they are willing to take

and in other news snails are slow

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