is this auction idiocy or am I missing something?

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Posted By: cmoking

Two 1933 Goudey #1 Benny Bengough PSA 7s went on auction in the Mile High (wednesday) and Mastronet (thursday) auctions. The Mile High one went for $9100. The Mastronet went for about $5800 (after the juice). The Mile High one has a print defect that makes the card unattractive IMO. Am I missing something or is this odd to see the Mile High one go for so much more?

Mile High Bengough PSA 7

Mastronet PSA 7

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Posted By: Steve Dawson

I don't think you're missing anything. If anyone is, it's the two highest bidders on the MHC card! I agree with you, that fisheye is ugly!!!


Steve

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Posted By: WP

strange. What did the NM-MT 8 close at???

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Posted By: DJ

Novemeber 13th Mile High auction, 1933 Goudey #1 Benny Bengough PSA 7 $6,726.00. Same one? Not Sure.

If I remember correctly, didn't REA sell one in their spring auction for $4,000?

This is truly odd.

DJ

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Posted By: Hal Lewis

Wouldn't the "first to end" always get a higher price with rare cards...

since the person who really wanted the card the most is "out of the bidding" for the later auction once he wins it in the first auction?

Or am I missing something?

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Posted By: cmoking

I do think the first to end probably sells for more, that does make sense. I wonder if the smaller catalog auctions schedule their auctions around Mastro's schedule...that would be smart.

But in this case, even though a 1933 Goudey Bengough PSA 7 is not found that often, it is not all that rare. It seems to come up all the time in these catalog auctions. I've seen a total of 7 of them trade over the past calendar year, and there will be another one soon when the winner of the PSA 8 card sells his 7 (assuming he has a 7). $9000 was definitely the top, the previous one in Memory Lane back in the fall went for $5500.

WP - the PSA 8 went for $14K after the juice. Cheap, but not PSA's best 8.

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Posted By: brian drent

While I do not often post here I do read the boards from time to time and really find the discussions very interesting. Although I do not want to get blasted for spam I would like to correct a bit of misinformation regarding this post, that being the selling prices of the two 19933 #1 Goudey B. Bengough cards. The mastro card did sell for roughly $5800 after the BP, but the card in my auction actually sold for $10,462.63 after the BP not the $9100 (price before the BP) To try to explain this may be difficult, save to say that I do believe that our card being offered first deffiantly helped in the price realized as well many times material in a smaller auction does perform to stronger levels.

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Posted By: Hal Lewis

Great Auction, Brian!

Keep up the good work!

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Posted By: WP

After looking at the Bengough PSA 8, I think that it is accurately graded. However, the card is dull and narrow but is sharp and within the NM-MT centering guidelines. This particular copy has floated around for years. I believe it was in a Mile High auction years ago.

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Posted By: cmoking

Brian, you guys had a great auction. It ran smoothly and had very good material. My post wasn't meant to denigrate your auction or the card you auctioned off, in fact, I think it serves notice for sellers to consider Mile High. I was just confused as to the big difference in price.

Thanks.

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Posted By: Harry Wallace (HW)

That is one of the attractions of auctions. There are items athat make you scratch your head as to why they sold for so much (most of the time) or so little.

Here is the Bengough that sold for $4,000 in the Robert Edward auctions

http://www.robertedwardauctions.com/site/bid/bidplace.asp?itemid=650&getauctionid=9

Even within the same auctions, you see quite a bit of variance. I think that Mile High sold this same 1933 Goudey advertising sign in a past auction for almost $20,000. This time it only went for $4,000 or so.

http://65.98.29.206/milehigh/displayitem.php?item=142&category=Closed Auction

That is why the savvy collector can take advantage of the format. As long as you are patient, bargains will come up.