Auction amounts - how high is high

[parkplace33]

With all the bidding and high prices, it’s a wonder why auctions houses haven’t offered lines of credit for buyers.

[Johnny630]

Originally Posted by parkplace33

With all the bidding and high prices, it’s a wonder why auction houses haven’t offered lines of credit for buyers.

I know some big buyers in these auction houses mostly dealers get 90 days or more to pay because of their history of bidding and spending with the auction house. Sometimes they’ll get the cards even in advance before they pay the auction house.

[volplaya8]

I think what helps the auction houses out a lot when it comes to pricing is the fact they get so many nice cards in one place at one time. When you get most of the collectors and investors eyes on something at the same time, you are probably going to get good results. If ebay gets a nice card or two then it’s auctioned but not as many guys may see that card go off or even wait around to bid on it. With rea and others you get all the eyes on every card and then guys may throw bids on something else since they already are bidding on others. Ebay just will never have the amount of quality cards going off at one same time. Even Lotg last night, you may see those some of those cards on ebay here and there but look at how many tobacco, caramel etc cards they had all guaranteed to be sold at the same time. Also do not discount catalogs and fact guys can prepare accordingly.

[BobC]

Originally Posted by parkplace33

With all the bidding and high prices, it’s a wonder why auctions houses haven’t offered lines of credit for buyers.

Wait a sec, isn't that already sort of being done by at least one of the "vault" providers that also functions as an AH? My understanding was they offered advances on items being held. And wouldn't be surprised if some other AHs weren't already offering something similar under certain circumstances as well.

[Johnny630]

I often wonder what percentage of big spenders in auction could be doing one or some of the following,

1. Taking loans against their 401k’s to fund card buys.

2. Using a Cash advance on their credit cards to fund buy.

3. Taking a business line or credit out to fund.