What's going on with all the issue's w/ Auction House's this year?!?!

[dstudeba]

Originally Posted by sportscomicfantasy

I disagree with your analogy! I don't think that Goldin is as good as REA, but I would say REA is like a 9 or 10 out of 10 in our industry and Goldin is like a 7 or 8.

Before you disagreed with him did you do any research on the two auction houses you compared as Toby suggested? Do you know the histories of REA and Goldin auctions? Do you know the histories of Brian Dwyer and Ken Goldin? If you have good reasons for those ratings I would like to hear them. I know the reasons Toby is referring to, and would be interested if there are other points of view to contradict that history.

[teza11]

Has there ever been any consideration given to a Net54 Sports Auction site? I don't mean the basic B/S/T or auction page that's active today. I mean a site that would provide similar functionally, depth and scope as the major auction houses.

The business model could be really interesting considering that lots (most?) of the product for these auction houses come from all of us. Rather than consignor > auction house > buyer, it could be something like member > selling fee > buyer.

Participating members would be entitled to a part of the “house” proceeds and/or reduced sales fees. Management would be under the control of an elected board. Buyers would receive their winnings based on the parameters set by the board (reduced fees, timely, safely, etc.). Operational activity could be managed in-house or sourced to a third-party that follows the rules set by the board.

Tom has successfully made this transition on the non-sports side of the business. He follow’s a more traditional auction site model, but has been able to offer discounted fees (at least initially) and personalized service.

Yes, I know that at this moment Leon is doing his very best to just keep the lights on here, but maybe there’s a future opportunity to take/keep more margin dollars and have more control of the overall process.

Jeff

[Leon]

I don't believe Net54baseball wants to be in the auction business. There are plenty out there and more starting up all the time.

Originally Posted by teza11

Has there ever been any consideration given to a Net54 Sports Auction site? I don't mean the basic B/S/T or auction page that's active today. I mean a site that would provide similar functionally, depth and scope as the major auction houses.

The business model could be really interesting considering that lots (most?) of the product for these auction houses come from all of us. Rather than consignor > auction house > buyer, it could be something like member > selling fee > buyer.

Participating members would be entitled to a part of the “house” proceeds and/or reduced sales fees. Management would be under the control of an elected board. Buyers would receive their winnings based on the parameters set by the board (reduced fees, timely, safely, etc.). Operational activity could be managed in-house or sourced to a third-party that follows the rules set by the board.

Tom has successfully made this transition on the non-sports side of the business. He follow’s a more traditional auction site model, but has been able to offer discounted fees (at least initially) and personalized service.

Yes, I know that at this moment Leon is doing his very best to just keep the lights on here, but maybe there’s a future opportunity to take/keep more margin dollars and have more control of the overall process.

Jeff

[Aquarian Sports Cards]

Part of the problem is that so many people see an auction as little work, high reward. From the outside looking in I guess it might appear that way. I can assure anyone who might be considering it, it is NOT a get rich quick business. Between building up a consignor AND bidder base to all the work that it takes to describe and image every lot sufficiently it is a TON of man hours.

Add to that if you are a normal start-up that doesn't have a benefactor willing to risk a million dollars of his collectibles, you are likely starting with auctions that gross about 10k - 20k. That generates a GROSS profit of about $3k - $6k. Obviously everyone's expenses can be different but I will say that for me that has led to a net profit of $1k - $2k. How many of those do you need to do a year to make a living?

That may help to explain why some small companies take short cuts and/or act in a fashion that is ethically questionable at best and criminal at worst.

In a sense I am lucky because PA is a license state. Going to school and putting in the time to learn BEFORE running auctions made a BIG difference, and it's still a struggle, but at least I went in with my eyes open.

It really is a case of the old saying "It's a tough way to make an easy living."

[Exhibitman]

Originally Posted by Leon

I don't believe Net54baseball wants to be in the auction business. There are plenty out there and more starting up all the time.

You got that business model right. Don’t be a gold miner, be Levi Strauss: no need to start an AH when you can sell ad space to the start up AHs.

[swarmee]

How is the final day of the Goldin auction holding up? Is it really the final day, or do the new "impregnable" cloud servers fail?

[sportscomicfantasy]

Originally Posted by dstudeba

Before you disagreed with him did you do any research on the two auction houses you compared as Toby suggested? Do you know the histories of REA and Goldin auctions? Do you know the histories of Brian Dwyer and Ken Goldin? If you have good reasons for those ratings I would like to hear them. I know the reasons Toby is referring to and would be interested if there are other points of view to contradict that history.

I am only going on my history bidding and looking over their auctions as I do not know the histories. I have been watching their auctions even when I don't bid on anything, I like to watch items I would be interested in or really like to see what they sell for. I have limited experience in winning items from both. Goldin I have bought more items but I think REA gets better prices on items I would be interested in and Goldin I feel I am able to buy more items at prices I feel comfortable with.

I have bought quite a few lots off Goldin in the past few years once I started to get back into the hobby after a lapse of several years after the death of my wife. I am currently unable to bid with REA because of my screw up in a very late payment that I just totally dropped the ball on when I forgot to pay before I tried to go totally off the grid for about three months. I did pay and got my item but when I went to bid in the next auction when I was back, the system told me my bidding privileges were revoked. I do understand, not mad at them at all, disappointed as they do have many items I would be interested in but even when I watch them, most of them go above what I would be willing to pay. But even on their auctions, there are usually one or two items I could buy if I could bid. It's not that bad, I really spend too much money on auctions anyways.

[swarmee]

Another auctionhouse doing bad things (in case you missed it):
https://www.blowoutforums.com/showth...ght=traditions

[buymycards]

At least we don't have to worry about Heritage after their 4 million dollar government handout.

[Yoda]

Originally Posted by buymycards

At least we don't have to worry about Heritage after their 4 million dollar government handout.

That is nearly as bad as sending over 1 billion dollars of stimulus checks to dead people, which surely should have brought smiles to the battered faces of all the Zombies out there.
I hope Heritage had the decency to return the 4M. If not, I am through with them. John

[Aquarian Sports Cards]

Return it? They applied for it.

[swarmee]

Originally Posted by Aquarian Sports Cards

Return it? They applied for it.

PSA was guilted into returning theirs...