|
#1
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Bruce Dorskind
|
#2
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: barrysloate
Bruce- at what point does a severe recession become a depression? Is there a precise definition of what constitutes a depression? |
#3
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: leon
Hi Bruce |
#4
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: rand
at the end of the day, IMO, Ebay is the best result for a seller. # 1 reason, seller can set his own price at a BIN or Best Offer Sale. depending on the card the deal could happen within hours of the listing, if the seller wants a higher amount then he can afford to wait till the right amount comes along. if a major auction can take approx 100+ days to deliver payment from consignment origin, then that card can sit on ebay for 100 days. if the owner of the sgc 40 wagner had a better idea about ebay instead of phillip wiess auctions, he could have listed the card at $1,200,000 or best offer, then would have probably sold the card for $1 Million and made more money on it. the high buyers premiums are biting heavily into the price of the lots, not for the buyers, for the sellers. |
#5
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Rob D.
My prediction: A few new "Wanted to buy" posts by The Group on the B/S/T within the next 24 to 36 hours. |
#6
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Doug
"At the end of the day, IMO, Ebay is the best result for a seller" |
#7
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Ted Sherman
A recession is when your neighbor loses his job, a depression is when you lose yours |
#8
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Alan
Rand - |
#9
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Joe D.
Barry, |
#10
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: JimCrandell
Another great post Bruce. |
#11
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: marshall barkman
Bruce....we are in a different era now so throw out the full blown depression talk. The problem right now is most folks are preaching doom and gloom so how can folks feel any confidence? America was on a roll bigtime but just like at a craps table when a hot hand holds the dice when the 7 finally hits there is a ton of money on the table and lost. My personal opinion is there is just to much competition in all aspects of business so only the strong will survie. |
#12
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: barrysloate
Thanks Joe...and I like Ted's definition, too. |
#13
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Alan
A recession is when a card you want goes too high for your budget, a depression is when the card you're selling goes lower than you thought. |
#14
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: jay wolt
I don't see why any auction house would close its doors due to the economy. |
#15
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Phil
Even though they have money coming in, you have to remember that they have to pay for staff salaries, advertising/marketing their auctions, they have fixed costs (i.e. rent, etc.), and they have to pay for catalogs and or websites. |
#16
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: David Atkatz
Well, Jay, according to The Group, prospective consignors will want a big chunk of their money upfront. And, of course, the auction house can't afford to pony up all that dough. So, no upfront money, no consignments, no auction house. |
#17
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: JimCrandell
Jay, |
#18
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: JimB
"Is their a precise definition of what constitutes a depression?" |
#19
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: barrysloate
Egad- thanks Jim. |
#20
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: davidcycleback
Obviously there is only one thing that can be done in this deep depression. Everyone give their cards to Bruce and he will dispose of them for you. |
#21
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Dan Bretta
|
#22
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: peter ullman
It looks like Brian Cataquet is getting in on the action...I mean auction! BCB ventures will be opening for business with their inaugural auction in March. What recession/depression? |
#23
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: barrysloate
Where is Bruce? He made a provocative post, then headed out on vacation. |
#24
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Jim VB
"Where is Bruce? He made a provocative post, then headed out on vacation." |
#25
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: barrysloate
Basically...Bruce has a habit of not following up his posts, and I think he should. You put out a topic, you stick around to discuss it. |
#26
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Bob
Bottom line continues to be buy cards you like, not that you want to invest in for speculation purposes. If the monetary value of cards disappear, you still have a collection you love. |
#27
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: JimCrandell
Watch out below--I don't know if we are all ready for this but Bruce says "his next post will turn the hobby upside down". |
#28
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Jason
Drama? With my cardboard? Can't wait! |
#29
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: marshall barkman
Here is a quote i found interesting in Bruce's post-In plain English people are scared, distrusting and don't know what to do or where to turn. |
#30
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Joe B.
OT - but who are the several NYSE listed companies paying 15% coupons on their bonds? That's not true at all. The yield you can earn by purchasing a bond at a discount in a secondary market is totally different than the coupon a company pays to issue debt. Only the sketchiest of companies have coupons around 10% (sure they are NYSE listed but that's a pretty low bar) and none pay 15%. |
#31
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Scott Fandango
Bruce, is your point a few auction houses will close? |
#32
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Alan
They better not start charging for their catalogs. |
#33
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: marshall barkman
To me it is pathetic that auction houses charge 20% to the buyer and then either 10 or 20% to the consignor. That means that the auction house makes 40% of what the item is worth. Reminds me a little of the mafia mindset. To grab a digital camera and write a description of a card to then post it online is not that difficult nor is it worth 20%. I recieved a phone call from a auction house dealing with antiques that will only charge 5% if i want to sell any art that i currently own, now that is more like it. |
#34
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: jay wolt
Many auction houses adjust their sellers premium to just 5% or zero %. |
#35
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Scot
|
#36
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Joe D.
"The capitalist system does not work unless poorly run businesses are allowed to fail" |
#37
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: marshall barkman
You can run a business poorly or manage it perfectly, what does that have to do with overcharging? Believe me if you think major auction houses that charge a 20 to 28% buyer premium along with any type of seller % are going to make it even if run brilliantly then watch and see what happens. Greed is the demise to business so here is two words for you BERNIE MADOFF. |
#38
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Cat
It looks like the system may very well be shaking out the overcharging of the buyers premium. From a distance, it looks like Mastro raised their overhead and started charging more for their services to cover large overhead costs. They tried to get into other service lines (art) that didn't seem to be their primary area of expertise which undoubtedly cost money to enter. Card buyers and consigners turned away in enough numbers that it caused cash flow problems. The investors said no additions to the line of credit. Now, we just have to see what the next steps are. They will likely adjust or suffer a death of their business. |
#39
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Bill Cornell
I'm curious to see where we are a year from now. There are too many auction houses and too little inventory for consignment fees to go up, but the practice of annual increases in buyers premiums is at an end. The squeeze is on auctioneers. |
#40
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: davidcycleback
When the economy was humming along, I thought there were too many auction houses. I assumed a one or two or more would drop out some day. Some times it seemed there was a new auction starting every other three minutes-- and all fighting over a fine amount of quality stuff. |
#41
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Bruce Dorskind
We have watched as the Board has commented on this thread |
#42
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Rick McQuillan
I think that auction houses need to update their payment methods. Most do not accept PayPal or credit cards. With ebay the auction closes, I pay with PayPal 2 minutes after the auction closes, the item is mailed the next day and I have it in my hands within a couple of days. I know up front what the shipping charges will be. |
#43
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: barrysloate
Rick- I think a good part of the reason that auction houses don't accept credit cards is that almost all have an "all sales are final" policy. With a credit card payment, any buyer can receive an item, decide he doesn't like it, and have the credit card company stand behind his right to return it. |
#44
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: rand
3. On a personal basis we are collectors. Not investors, Not Dealers. Unlike most of America, we don't |
#45
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: marshall barkman
Bruce....where is this earth shattering news you promised? The predictions you are making in regards to the economy have been predicted by alot of analysists so this is not news to anyone following the current economic situation. Tell us somthing positive or make a prediction about a winner. Believe me buy silver with both hands because it will be at 30.00 by 2010 no matter what happens to the economy. |
#46
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: leon
Actually I think Bruce is right. I think there will be some fairly big news coming out very soon (days) about some happenings in our hobby. It's too early to say exactly what it will entail. I think the hobby will be just fine though. As predominantly a collector I am fine with whatever happens. I love collecting and enjoy my cards.....I think the auction business will do fine too (though I am very biased). The strong and financially sound will survive..... |
#47
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: jay wolt
Rick - I agree with your post. |
#48
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Tom Boblitt
They are unparalleled in the way they have their systems set up. It's seamless and offers SO many ways to pay. The days of just check payment should be gone. Just the way it is............ |
#49
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Robert Klevens
I hope to receive my Mastro consignment check this week from the December 18th auction. |
#50
|
|||
|
|||
Auction Houses-Going, Going..Gone?
Posted By: Jeff Lichtman
Robert, it's only been about two months. I'm sure once Mastro gets done using your money to pay for their current auction expenses they'll get around to paying you. |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Auction Houses....fun for you or not? | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 22 | 02-25-2009 01:31 PM |
All Auction Houses 25% BP? when will it happen?.... | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 16 | 09-15-2007 12:57 PM |
Auction houses vs. Ebay | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 7 | 04-07-2006 12:54 AM |
Legitimacy of Auction Houses | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 15 | 03-02-2006 08:55 PM |
Auction houses..... | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 13 | 05-12-2005 12:26 PM |