Interesting thread on the non-sports board

vintagechris · #1 01-31-2010, 02:49 PM

I once bid in an auction with a company I thought was pretty honest( I won't name them as I have no real proof they did anything unethical) basically they had several small autograph lots of less than 20 cards each. They were all worth about the same. I put in bids on them willing to pay between $100 and $150. To my horror on the last day of bidding I went to check my bids and noticed I had mistakenly put a ceiling bid of $1350 on one of them! I thought about calling them and telling them this but then just decided how much higher could it go for what I really wanted to pay for it?

So, the auctions end that night all selling for around $150 and how much do you think the one I screwed up on sold for? $570 and there is no way those cards were worth anything near that and I just had a hard time believing a legitimate bidder kept bidding that lot up and was willing to pay that much for them.

Rob D. · #2 01-31-2010, 03:57 PM

Quote:

Originally Posted by vintagechris

I once bid in an auction with a company I thought was pretty honest( I won't name them as I have no real proof they did anything unethical) basically they had several small autograph lots of less than 20 cards each. They were all worth about the same. I put in bids on them willing to pay between $100 and $150. To my horror on the last day of bidding I went to check my bids and noticed I had mistakenly put a ceiling bid of $1350 on one of them! I thought about calling them and telling them this but then just decided how much higher could it go for what I really wanted to pay for it?

So, the auctions end that night all selling for around $150 and how much do you think the one I screwed up on sold for? $570 and there is no way those cards were worth anything near that and I just had a hard time believing a legitimate bidder kept bidding that lot up and was willing to pay that much for them.

Chris,

One of the things I've been fortunate to learn from a handful of posters on this board is that descriptions in an auction catalog can greatly influence selling prices. You might see totally out-of-this-world prices realized, and the reason might be the really cool descriptions in the catalog. Marketing is another thing that can drive up prices in an auction.

So maybe the write-up for the lot that sold for much more than its counterparts simply had a really great description, and maybe that one lot was marketed a lot better.

vintagechris · #3 01-31-2010, 05:28 PM

Quote:

Originally Posted by Rob D.

Chris,

One of the things I've been fortunate to learn from a handful of posters on this board is that descriptions in an auction catalog can greatly influence selling prices. You might see totally out-of-this-world prices realized, and the reason might be the really cool descriptions in the catalog. Marketing is another thing that can drive up prices in an auction.

So maybe the write-up for the lot that sold for much more than its counterparts simply had a really great description, and maybe that one lot was marketed a lot better.

Anything is possible which is why I don't mention the Auction House but the write up was very generic only telling what autographed cards were in the lot and marketing I am pretty sure had nothing to do with it because each lot was really only worth about $150.

All the cards were from the same set as well. Basically someone consigned them as one large group and the Auction House broke them up in smaller similar lots to sell. The one I just happened to make the mistake on was the only one that got extra action. All the others sold for what they should have.

Needless to say I was sick to my stomach watching this happen. But it was a lesson learned as I always make sure to double check my bid before clicking now.

barrysloate · #4 01-31-2010, 05:30 PM

I think Rob was being

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