Goodwin Auction Has Started

[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.

[Peter_Spaeth]

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

[bcbgcbrcb]

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]

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]

Good point, Jeff

[bcbgcbrcb]

Here's a very good example of my point:

Last year I consigned a 1910 Minor League Team RPPC which pictured Joe McCarthy, a HOF'er and an extremely early image of him, in an SGC 10 holder. I paid somewhere around $450.00 when I bought it and was looking to have the auction house start the bidding in that $400 - $500 range. They did not do so and chose to start the bidding at $100.00. Final sale price was $100.

I see in this auction, two very nice minor league team RPPC's both with HOF'ers pictured in SGC 1.5 holders and starting bids of $500 on each. I guaranty you that by the end of this auction, the consignor will have gotten at least $500 for each postcard at a minimum.

That is where I have a problem with what the auction houses are telling me compared to how other consignors are being treated.

[slidekellyslide]

Originally Posted by bcbgcbrcb

Here's a very good example of my point:

Last year I consigned a 1910 Minor League Team RPPC which pictured Joe McCarthy, a HOF'er and an extremely early image of him, in an SGC 10 holder. I paid somewhere around $450.00 when I bought it and was looking to have the auction house start the bidding in that $400 - $500 range. They did not do so and chose to start the bidding at $100.00. Final sale price was $100.

Which auction house? That definitely flew under the radar.

[Leon]

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]

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]

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.