Any Reaction to Legendary Auction Prices

[CTDean]

Originally Posted by Leon

If we are going to lambaste a company lets at least get the facts straight. I got this message from Doug this morning

"A prominant dealer bid 21k and the reserve was met and it sold as detailed on the site."

thanks......

Leon, if in fact Ken bid $20,000 and received the message "reserve not met" and the bid advanced to $21,000, that $21,000 bid had to be the auction house bidding the reserve. In that case the lot would have to receive a $22,000 bid to sell.

[Leon]

Originally Posted by CTDean

Leon, if in fact Ken bid $20,000 and received the message "reserve not met" and the bid advanced to $21,000, that $21,000 bid had to be the auction house bidding the reserve. In that case the lot would have to receive a $22,000 bid to sell.

I wouldn't hypothesize too much. I have an email into Doug for clarification. He did go on to to say :

"In total 6 Gibson items and the Mantle glove were the only Sports lots with reserves. Every one of them sold."

I don't want to post the whole email as I think he was frustrated but the pertinent parts have now been posted. Make of it what you want, I guess.

And to Matt- His email seemingly intimated there was a reserve.

[Matt]

Originally Posted by Leon

And to Matt- His email seemingly intimated there was a reserve.

To me, that's the bottom line issue that came out of Ken's post. I could care less if the Bob Gibson checks sold or not, but the revelation that Mastro/Legendary is putting double hidden reserves on lots is important.

[Leon]

Doug sent a bit of a clarification on the Legendary "reserve" situation....

this below is cut and pasted but was the entirety of 2 emails.....I hightlighted the one part below, he didn't.....



"Here are the reserves...as bids were accepted the site clearly stated if reserve was met:

1970 Gibson Cy Young - $40k reserve met.
Gibson Gold Glove - $10k reserve met
Gibson Checks - $20k reserve met
Gibson 11 Contracts - $10k reserve not met...Bob accepted bid of $5,500 after auction
Gibson 1964 World Series Ring - $30k reserve met.
Mantle Game Used Glove - $35k reserve met.

Other than a handful of coin lots there were no other lots with reserves in the auction."

Additionally we Do Not bid for the reserve. If there was no competitive bid the person would need to outbid themself in order to progress toward the reserve."

Doug

[Rob D.]

Thanks, Leon.

And thanks for continuing to serve as Net54's Annie Sullivan to Mastro/Legendary's Helen Keller.

[Leon]

Originally Posted by Rob D.

Thanks, Leon.

And thanks for continuing to serve as Net54's Annie Sullivan to Mastro/Legendary's Helen Keller.

No Problem, Rob. I've been called worse .

[Rob D.]

Well, it actually was a compliment to you.

[Anthony S.]

Originally Posted by Rob D.

Thanks, Leon.

And thanks for continuing to serve as Net54's Annie Sullivan to Mastro/Legendary's Helen Keller.

Only 10:30 am here the on left coast and my day has already been made.

[Exhibitman]

What's the line at Caesar's on whether Gibson actually gets paid?





I kid Mastro, er, Legendary.

[oldjudge]

The fact that the reserve is not bid makes it a lot more palatable to me. At least that way there is no confusing the reserve with another bidder.

[Leon]

Originally Posted by CTDean

Leon, if in fact Ken bid $20,000 and received the message "reserve not met" and the bid advanced to $21,000, that $21,000 bid had to be the auction house bidding the reserve. In that case the lot would have to receive a $22,000 bid to sell.

I really don't know the answer to that. I am just the messenger of one email.