Goodwin & Co. Auction Results

bcbgcbrcb · #1 09-24-2010, 01:24 PM

I think that the "soft" economy is a general statement that I think most everyone would agree with should yield lower than expected prices on MOST items when comapred to those of a stronger economy. My personal scenario is that in almost every auction that I participate in as a bidder, there is only one item or two at the most that I am interested in which probably differs greatly from most members on this board. So you have to understand that I am gauging my opinion on a very small sample of the overall population.

I still believe, without a doubt, the final price stands a much better chance of ending higher with a higher opening bid than one at 25% of fair market value, as has been the auction houses' norm in the past. I have seen it happen to me too many times from the consignor end to ever agree to anything different.

Rob D. · #2 09-24-2010, 01:47 PM

Quote:

Originally Posted by bcbgcbrcb

I still believe, without a doubt, the final price stands a much better chance of ending higher with a higher opening bid than one at 25% of fair market value, as has been the auction houses' norm in the past. I have seen it happen to me too many times from the consignor end to ever agree to anything different.

Phil, I think you're looking at a very small sample size (the cards you bid on and the ones you've consigned in the past and not done well on).

If you look at this entire Goodwin & Co. auction, the consensus seems to say that prices are lower than the norm. When has that ever been said about a Goodwin auction? Even in the previous 18 months or so, when the economy was already "soft," Goodwin auctions realized prices that few collectors would have described as below the norm. And those were with the typical lower starting bids.

I'm not saying that higher starting bids played a role in lower prices realized in this Goodwin auction. But it's odd, because everyone agreed before the auction what great cards there were available. And the result was lower overall prices? Odd.

You saying that higher starting bids lead to higher prices realized -- based on a card you were bidding on going for higher than you wanted to pay and your consignments doing poorly in the past -- makes little sense to me.

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