Paragon auctions

[glynparson]

I've now seen people on the board complain if minimums were too high and people advocating for high minimums over reserves. I guess no matter what an auction company does they will have critics of their formula.

[Matt]

Originally Posted by glynparson

I've now seen people on the board complain if minimums were too high and people advocating for high minimums over reserves. I guess no matter what an auction company does they will have critics of their formula.

Cute job with the word-smithing. The folks that are unhappy with high minimums are not unhappy with the fact that high minimums are used instead of reserves - they were just unhappy with how high the minimums were. Setting a minimum so high that there is only a 50/50 chance even 1 bid would be placed is more like a sale then an auction. Setting a strong minimum bid instead of a reserve would placate most folks, so long as the minimum was reasonable.

[bh3443]

Hi Glyn,
I've been buying cards here in the greater Boston area for decades and found virtually every card type from the 1880's to present, but NEVER was offered any Boston Garters. Were they distributed here in my area? I'd appreciate any insight and if you want to post some here or on facebook, that would be awesome!
BTW, Glyn, I hope you had a great birthday with your child yesterday.
Thanks,
Bill Hedin

[botn]

Originally Posted by Matt

Cute job with the word-smithing. The folks that are unhappy with high minimums are not unhappy with the fact that high minimums are used instead of reserves - they were just unhappy with how high the minimums were. Setting a minimum so high that there is only a 50/50 chance even 1 bid would be placed is more like a sale then an auction. Setting a strong minimum bid instead of a reserve would placate most folks, so long as the minimum was reasonable.

Write what you will but it is obvious Paragon's formula worked very well for them and their consignors. I will certainly place them at the top of my list when considering where to consign my material.

[Matt]

Originally Posted by botn

Write what you will but it is obvious Paragon's formula worked very well for them and their consignors. I will certainly place them at the top of my list when considering where to consign my material.

I never intended to say there was an issue with Paragon's formula; I apologize if that was conveyed. I was just responding to Glyn's suggestion that people were being unreasonable/impossible to please.

I'm all for the disappearance of the BP confusion that Paragon has adopted.

[glynparson]

Your response sounds like wordsmithing they weren't complaining but they were complaining? From your response you feel that a consignor should be willing to let the market dictate what the card will bring? Why does a consignor have to risk a loss or selling a valued piece of ther collection for less than they want? If a company is willing to give some cool items a shot at what you perceive to be retail why shouldn't they? It seems Keith was still going to get his money as it was based on number of items you wanted per page and not a flat commission per item sold. I welcome the new approach and if I decide to sell some of the better items in my collection it is certainly an avenue I would consider. Why should I RISK the possibility of losing on an item if I dont have to? I may be misunderstanding your post but it sure seemed like that was what you were saying.

[glynparson]

I guess what I'm trying to say is the times they are a changing. And Keith I believe has found a new way to give a consignor the opportunity to still possibly sell his items while still collecting a fee. This is a strange and unpredictable market right now and I don't blame any consignor for wanting to protect hIs investment.

[barrysloate]

Sometimes the only way an auction house, especially one conducting its first sale, can get high end consignments is by offering collectors a reserve. Maybe if they didn't the consignment would go somewhere else, perhaps to a more established company with a proven track record. And starting lots low and letting them ride worked very well in 2006, but might not today. I don't blame Paragon for starting lots high. The reserves may be annoying to bidders but that's life. I would guess those who are complaining would not like to see their own consignments open at 20% of fair market value without a reserve. It's a sign of the times, that's all.

[botn]

Hi Glyn!

I think I must have misunderstood Matt's initial post to you, as well. It would have been unreasonable of Matt to be critical of Paragon's auction formula when he himself normally uses very high minimum or high opening bids when he lists his stuff on ebay or grandslam. He must have been remarking on why bidders might be upset with Paragon's model.

Take care,
Greg

[Matt]

Originally Posted by botn

Hi Glyn!

I think I must have misunderstood Matt's initial post to you, as well. It would have been unreasonable of Matt to be critical of Paragon's auction formula when he himself normally uses very high minimum or high opening bids when he lists his stuff on ebay or grandslam. He must have been remarking on why bidders might be upset with Paragon's model.

Take care,
Greg

Yikes! I believe every auction style item I've sold on GSB has been with a 0.99 start and no reserve. I do sell fixed price as well, but those aren't auctions...

As far as the comment, feel free to ignore it. I was explaining how reasonable bidders could both not want a reserve and also not want a too high starting bid, but it's not an important point. Your enthusiasm for Paragon and zeal in rushing to it's defense when it wasn't even being attacked is noted.