Goodwin Auction Has Started

bcbgcbrcb · #1 09-03-2010, 02:53 PM

Some top quality items for sure in this one. At least a couple of the postcards seem to have very high starting bids though. Don't the auction houses usually go with somewhere around 25% - 30% of expected value as an opening bid? The opening bids for the Novelty Cutlery Cobb and especially the Speaker appear to be almost their full-value to begin with unless I am really out of touch with prices..........

Leon · #2 09-03-2010, 03:06 PM

Quote:

Originally Posted by bcbgcbrcb

Some top quality items for sure in this one. At least a couple of the postcards seem to have very high starting bids though. Don't the auction houses usually go with somewhere around 25% - 30% of expected value as an opening bid? The opening bids for the Novelty Cutlery Cobb and especially the Speaker appear to be almost their full-value to begin with unless I am really out of touch with prices..........

I think you will see more and more higher opening prices as the economy is forcing it. Consignors have a major say in how the items they consign get sold. Auction houses are at their mercy and want to keep them happy.

That being said I would rather return something to a consignor than have them be thoroughly pissed that they got killed (realized price) on their item. All auction houses are different and this is my opinion only. TO those that will say..."then it's not an auction, it's a retail sale" I would say that is certainly your right to say that. I will stick to trying to help all of our consignors not get creamed.....And I realize this might not be a popular view but it is my view

Orioles1954 · #3 09-03-2010, 03:10 PM

Let's put it this way, ain't no one getting a good deal in this auction.

HRBAKER · #4 09-03-2010, 03:13 PM

It is more like a retail sale and there is nothing wrong with that or protecting consignors.

deadballpaul · #5 09-03-2010, 05:55 PM

Quote:

Originally Posted by Orioles1954

Let's put it this way, ain't no one getting a good deal in this auction.

You work for Huggins and Scott. Is that correct?

tbob · #6 09-03-2010, 08:35 PM

Quote:

Originally Posted by Orioles1954

Let's put it this way, ain't no one getting a good deal in this auction.

I'm afraid you're right, James.

I think this is going to be a classic S.M. (Stupid Money) auction, as my friend Pete Calderon used to call it. There's going to be some major "pissing contests" on some items, I am afraid.

joeadcock · #7 09-03-2010, 08:43 PM

Nice stuff.

bcbgcbrcb · #8 09-03-2010, 03:14 PM

Leon:

I agree with you 100% and believed that for years as a consignor myself but have always been told by the auction houses that it is in both mine and their best interests to start the bidding lower to attract more bidders. Based on this, I have almost always been unhappy with the starting price of my items and believe that the final sale price of many of my items fell short of expectations partly because of the low starting bid. If the starting bid was at the level that I had requested, like you said, I would either be happy with the result or get my item back.

Now that I am looking it as a bidder, the "new" higher opening bids are forcing me to pay almost a "sale price" for an item that I want just as an initial bid. It feels to me like I am coming out on the short end both ways and am not real pleased with this turn of events.

Peter_Spaeth · #9 09-03-2010, 03:29 PM

I think it's fine to do an auction this way, beats having hidden reserves, shill bidding, etc.

bcbgcbrcb · #10 09-03-2010, 03:35 PM

My main point is that when I wanted to apply this logic with my auction house consignments over the past few years, the auction houses basically all refused to start my lots at much above 25% - 30% of market value. Just when I have finally accepted that it is the way of doing business on that forum, now things seem to have changed to the consignors advantage when I am in more of a buying mode.

As I mentioned, the Speaker is a probably a better example than the Cobb.

HRBAKER · #11 09-03-2010, 03:44 PM

Disclaimer: I have never consigned to or operated an auction.

It may have to do with the quality/rarity or the volume of item(s) that are being consigned. If one consignor brought all of those Novelty PCs to the table I can see him or her being able to dictate what terms (within reason) that they will consign under, i.e., starting bids, reserves, seller's premium, etc.

bcbgcbrcb · #12 09-03-2010, 03:49 PM

Good point, Jeff

Leon · #13 09-03-2010, 03:33 PM

Quote:

Originally Posted by bcbgcbrcb

Leon:

I agree with you 100% and believed that for years as a consignor myself but have always been told by the auction houses that it is in both mine and their best interests to start the bidding lower to attract more bidders. Based on this, I have almost always been unhappy with the starting price of my items and believe that the final sale price of many of my items fell short of expectations partly because of the low starting bid. If the starting bid was at the level that I had requested, like you said, I would either be happy with the result or get my item back.

Now that I am looking it as a bidder, the "new" higher opening bids are forcing me to pay almost a "sale price" for an item that I want just as an initial bid. It feels to me like I am coming out on the short end both ways and am not real pleased with this turn of events.

You obviously consigned to the wrong auction houses

. I absolutely understand your point though.

Matthew H · #14 09-03-2010, 06:04 PM

The prices aren't that high. There wont be any steals on those PCs but they'll be sold. I think 2500 is a low reserve for the Cobb.

calvindog · #15 09-03-2010, 06:57 PM

The idea that most auctions are honest and fair went out with the Easter Bunny I'm afraid. If Goodwin wants to start his auctions with high starting numbers, so be it -- at least that part of the auction is transparent. In a fair auction, the market will dictate the value of the cards. If they're overpriced, we'll soon find out. As someone who collects PCs, however, I don't think the Novelty Cutlery's starting prices are too high at all.

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