Memory Lane Auction

Casey2296 · #1 07-11-2021, 10:47 AM

Quote:

Originally Posted by notfast

Auction ran until 6-630am EST this morning. That�s not fun.

Not a big fan of that format. If the lots have action let em run but close the ones without action after 15 minutes.

Peter_Spaeth · #2 07-11-2021, 10:52 AM

Quote:

Originally Posted by Casey2296

Not a big fan of that format. If the lots have action let em run but close the ones without action after 15 minutes.

The AH is there to get the most for the consignor, and you know the argument, that if all lots remain open people who get maxxed can go back and spend on other lots which wouldn't be there with a 15 minute rule. Yes there are counterarguments but the debate will never be resolved.

3-2-count · #3 07-11-2021, 10:55 AM

Lots 1 thru 5 alone, ended north of $10 million bucks combined!

perezfan · #4 07-11-2021, 10:58 AM

Quote:

Originally Posted by Peter_Spaeth

The AH is there to get the most for the consignor, and you know the argument, that if all lots remain open people who get maxxed can go back and spend on other lots which wouldn't be there with a 15 minute rule. Yes there are counterarguments but the debate will never be resolved.

Right. Their first allegiance is to their consignors.

Can't even count how many times (as a bidder) I have been outbid very late, only to jump over to a lot that's been stagnant for hours because it's still within my spending limit. But we have re-hashed this a thousand times, and people will always be split on the issue.

Johnny630 · #5 07-11-2021, 11:05 AM

Auction Houses Have The Market Cornered. It�s hard to find people willing to sell their high end cards for cash privately when AH�s are brining in these numbers.

Peter_Spaeth · #6 07-11-2021, 11:15 AM

Quote:

Originally Posted by Johnny630

Auction Houses Have The Market Cornered. It�s hard to find people willing to sell their high end cards for cash privately when AH�s are brining in these numbers.

On the flip side, it appears to me many people would rather overpay an auction house than pay a fair but reasonable price for a nice card privately.

Johnny630 · #7 07-11-2021, 11:35 AM

Quote:

Originally Posted by Peter_Spaeth

On the flip side, it appears to me many people would rather overpay an auction house than pay a fair but reasonable price for a nice card privately.

I don�t understand it anymore, agree Peter! It�s greed they want the most on everything.

Casey2296 · #8 07-11-2021, 11:58 AM

Quote:

Originally Posted by Peter_Spaeth

On the flip side, it appears to me many people would rather overpay an auction house than pay a fair but reasonable price for a nice card privately.

I can send you a list of cards I would be more than happy to pay a fair and reasonable price for, some of which I would pay close to AH prices for as I prefer spending $$ with members or other collectors. Only problem is those cards usually pop up in auctions before I get a shot at them.

oldjudge · #9 07-11-2021, 12:17 PM

I think ML did a great job for the Newman family.

Peter_Spaeth · #10 07-11-2021, 12:52 PM

Quote:

Originally Posted by Casey2296

I can send you a list of cards I would be more than happy to pay a fair and reasonable price for, some of which I would pay close to AH prices for as I prefer spending $$ with members or other collectors. Only problem is those cards usually pop up in auctions before I get a shot at them.

I view buying out of auctions as a last resort, because inevitably on cards I want the prices go to the moon.

rats60 · #11 07-11-2021, 01:30 PM

Quote:

Originally Posted by perezfan

Right. Their first allegiance is to their consignors.

Can't even count how many times (as a bidder) I have been outbid very late, only to jump over to a lot that's been stagnant for hours because it's still within my spending limit. But we have re-hashed this a thousand times, and people will always be split on the issue.

It just rewards those who stay up all night. If the person who would pay the most is asleep when he is out bid, the consignor doesn't get the most for his card. I know people think bidders should put in their high bid, but shillers and auction houses like Mastro who shilled their auctions, make that unpractical.

The only way an Auction House is going to maximize for their consignors is to end the auction when everyone is awake.

Peter_Spaeth · #12 07-11-2021, 01:36 PM

Quote:

Originally Posted by rats60

It just rewards those who stay up all night. If the person who would pay the most is asleep when he is out bid, the consignor doesn't get the most for his card. I know people think bidders should put in their high bid, but shillers and auction houses like Mastro who shilled their auctions, make that unpractical.

The only way an Auction House is going to maximize for their consignors is to end the auction when everyone is awake.

If I am JP and looking at prices realized (holy shit BTW on many of them) I am probably thinking I don't need to change anything.

trambo · #13 07-11-2021, 01:48 PM

Some strong prices for sure! Went to sleep around 11pm Eastern with a winning bid. Woke up around 5:40am to see I had been outbid around 3:45am or so. Didn't think I'd have a chance to bid again after I fell asleep but was happy to place one final bid (and win).

Don't love the all night auction and understand both sides of it. I also think the 15 or 30 minute rule on a lot by lot basis should give everyone time to duke it out on lots and still have time to bid on the other items if they're outbid. I enjoyed a 10:30pm ending of a recent auction house win as a result! Not complaining about how AH's do their thing at all. You know the rules going in so as long as they're living up to those rules, all good! Just stating a preference here!!

Congrats to all who won!!

Snapolit1 · #14 07-11-2021, 01:56 PM

At the super high end obviously there were some unreal prices.

I was following some pricey items (15,000-30,000) and honestly the prices realized on that level didn't seem bat shit crazy like January - February.

chriskim · #15 07-11-2021, 02:03 PM

Quote:

Originally Posted by Peter_Spaeth

If I am JP and looking at prices realized (holy shit BTW on many of them) I am probably thinking I don't need to change anything.

Agree! Let auction runs forever is the best format and can bring the most money to consigners. Bidders are supposed to place the max bids on something "I got to have it" items, if u just want to place "marginal" bids then u don't really want them as bad.

chriskim · #16 07-11-2021, 02:05 PM

Very happy to see the winner of 52T Mantle PSA8 is buying the card and not the holder. There were a few PSA8s (with centering issue) in recent auctions ended in much lower price.

doug.goodman · #17 07-11-2021, 02:46 PM

Quote:

Originally Posted by perezfan

Right. Their first allegiance is to their consignors.

Can't even count how many times (as a bidder) I have been outbid very late, only to jump over to a lot that's been stagnant for hours because it's still within my spending limit. But we have re-hashed this a thousand times, and people will always be split on the issue.

The only people who will be split are those not looking at it from the viewpoint of what is best for the consignor.

I don't like getting outbid after hours of no action, but whoever consigned the item likes that I was.

shagrotn77 · #18 07-11-2021, 02:54 PM

I wasn't thrilled with an email going out at 4:05 stating that the auction was unlikely to go past 4:15. It ended after 6 AM EST. That said, I was snoozing when the email went out and I maintained my high bid.

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