Does The Auctioneer Impact The Price?
 

Posted By: <b>Bruce Dorskind</b><p><br />As collectors, and ultimately as investors (some day everyone<br />or their family will sell or donate their collection), one of<br />the most interesting and important questions is:<br /><br />To what extent does the auctioneer impact the price of an item?<br /><br />Sotheby's and Christies, for example, dominate certain markets-<br />i.e. impressionist paintings (90% combined share) because they<br />"own the customer base" and have a world class client base<br />that no competitor can offer. They also have made representations<br />which protect the buyer and have financing systems in place.<br /><br />Whilst there are only a few items that would bring seven figures<br />in today's market, there are at least fifty items (not just cards) which<br />would bring $100,000+ and 500 or more that would crack $10,000.<br /><br />The question is to what extent will the auction house (include E Bay) impact<br />the price of the same item? <br /><br />Let's limit our discussion to items that realize $500 or more<br />and focus on pre- World War II baseball cards. Let's also<br />assume that for 20th century cards- they are all graded<br />by SGC or PSA<br /><br />Does one realize a higher price through a 15%/20% (seller/buyer) than a <br />10%/10% auction house?<br /><br />Or is it the "timing of the auction" that makes a difference?<br /><br />We have looked at 15 major auctioneers and E Bay and concluded<br />that the price for cards is more impacted by "timing" than any other<br />factor. The exception being those houses which "under promote"<br />or have SCD auctions only (no E BAY) generally realize lower<br />prices for the same item. Also, the first time an item appears<br />within a one year period it usually reaches its peak value.<br /><br />On the other hand the prices for rare memoribillia (we did not look at autographs<br />and/or uniforms) is definitely impacted by the auction house and its reputation.<br /><br />We'd welcome your comments.<br /><br />All the best<br /><br />Bruce Dorskind<br />America's Toughest Want List

Does The Auctioneer Impact The Price?
 

Posted By: <b>leon</b><p>Without giving it much thought yet, and not to demean any auctioneer, I think the objects command the prices. Of course you have to take into consideration the audience that each attracts too. The more the audience (targeted) the more the price potential. My guess is most of the folks spending fairly big bucks are on almost all of the auctions mailing lists. I don't really spend that much anymore but it seems like I get about an auction catalog a week, or more. There might be a person here or there that doesn't vote in particular auction for whatever reason, but by and large, I think the material dictates the price. I will say there are a couple (ebay assisted) auctions that do much poorer given their formats. (from experience they would have done better had they operated differently)..Just my inital thoughts but good question, especially given all of the current/recent auctions.......regards

Does The Auctioneer Impact The Price?
 

Posted By: <b>warshawlaw</b><p>I like seeing "whilst" in a post <img src="/images/happy.gif" height=14 width=14><br /><br />I think given the internet and the resulting really good spread of information amongst ( <img src="/images/happy.gif" height=14 width=14> ) sophisticated (wealthy) buyers as a result, a significant card placed with any of the main auction houses will do equally well, provided the presentation is equivalent. When it comes to sets and lots, however, the auctioneer has a lot to do with the results but not in the sense of reputation; it is presentation. I have purchased many mixed lots that turned out to be a lot better than their descriptions, whether because the auctioneer did not highlight the best cards appropriately, did not understand the group offered, or did not provide a complete description. I've also had lots undersell due to the same issues. There are certain auctioneers whose descriptions are so poor and/or whose imaging is so primitive that they often undersell the competition. The fact that they may charge only 10 and 10 doesn't help as much as a more professional presentation would. In other words, an auctioneer can't really drive the performance of a lot but they can do a lot to screw it up. <br /><br />Edited to add: I assume we are talking about auctioneers who put out catalogs and have fully interactive internet sites. If you are talking 'net only or non-net, you are dealing with an auctioneer that is not equivalent to the top dogs and should not be considered with them since the service offered is not equivalent.

Does The Auctioneer Impact The Price?
 

Posted By: <b>Rich W.</b><p>I think there are several factors that take place regarding this issue. Certainly, timing is an issue, but I have never been able to accurately determine bad timing. Every time I think there are either too many auctions going on at one time or an auction is ill-timed (ie. right around the holidays), the prices seem to be right where they should be or higher. I have been a regular attendee of Hunt Auctions, and in the past 7 years I can remember one low-priced auction. I remember there was no rhyme or reason for it; it was just slow. SO if anyone can figure out timing, you could write a book.<br /><br />The biggest issue I feel, regardless of buyer's premiums/consignment fees, is auctioneer reputation. There are several auction houses I refuse to bid with, regardless of material. Then there are several that I will bid with warily. Then there are some (ie. Hunt Auctions) that I would comfortably leave my highest bid without fear of ghost bidding.<br /><br />Another issue is the reputation of the auction house on grading and lotting. I've bought some lots from auction houses that include numerous, unadvertised surprises. With one auction house in particular, this happens so often that I up my bid on lots, expecting to have some surprises I am not accounting for. Other auction houses list every possible decent item in the lot, leaving nothing to the imagination. Regarding grading, there are some auction houses that constantly undergrade lots. And then there are others that are either dead on (ie. no surprises) or slightly overgrade. Speaking for myself, this history always affects my bidding. I am sure most of you also have similar methodolgies and beliefs that affect your bidding.<br /><br />Rich W.

Does The Auctioneer Impact The Price?
 

Posted By: <b>Joe D.</b><p>I have heard comments from collectors.... that item belongs in a 'Robert Edwards' auction -<br />and that would do well in a 'Mastro' auction.<br /><br />Although they all compete for the same pool of items... I think it is possible that each auction might have a certain category of products that it could help maximize the price reached. So maybe certain items belong with certain auction houses.<br /><br />I am just basing that on comments by fellow collectors... I have no data to actually back that up.<br /><br />

Does The Auctioneer Impact The Price?
 

Posted By: <b>Patrick McHugh</b><p>My take is 100 percent presentation of the item. If an item is highlighted and described well it will do well. I also agree certain items do better at certain auction houses. When making an auction house choice to sell items research is key. It can make a minor or major impact on your final take.

Does The Auctioneer Impact The Price?
 

Posted By: <b>Bruce Babcock</b><p>I have always been of the opinion that the big auction houses are a great place to sell but not always the best place to buy. These auctions attract a group of buyers who don't troll ebay every day like we do. It's very hard to find an overlooked bargain as a buyer although you can sometimes do well with a group lot. Our BST thread can be a great place to buy when you happen to see the exact card you are looking for, without paying a hammer. <br /><br />The best auction houses tend to have software which is easy to use. Some of the others have clunky software which is a pain in the ass to use. This can certainly be a factor for me.

Does The Auctioneer Impact The Price?
 

Posted By: <b>Darren</b><p>yes

Does The Auctioneer Impact The Price?
 

Posted By: <b>davidcycleback</b><p>For non card items, yes. Even if it came in with PSA & GAI COAs, I would pay a bit extra for an autograph collection sold by Mike Gutierrez. As authenticity is important, being able to say it was purchased through Gutierrez is important upon resale ... If I was buying a Picasso print, I would pay extra if it was being offered by Sotheby's. Upon resale, it would be nice to have a receipt showing it was purchased from Sotheby's. Even if the buyer isn't ordinarilly an art collector, he'll know of Sotheby's. The average person will assume the Picasso is authentic because of where it came from ... For many unusual sports memorabilia, having purchased it through Mastro, REA or Sotheby's will make resale easier, as the provenance gives it status and as most collectors will assume it's genuine because of where it came from. At the least, a buyer will have more confidence in the item as it was pictured and written up in the auction catalog, and he knows he can show the same catalog page when he resells it ... In this sense, good documented auction house provenance (catalog page, receipt) is the equivillent of an LOA. Being able to prove you purchased an autograph from Mike Gutierrez is as good as a PSA/DNA LOA ... Lastly, the big auction houses often auction the estates or large personal collections of famous poeple. Documentation that the celebrity personal item was purchased from Sotheby's or Mastro can be the strong evidence or even proof that it came from the estate. I've won celebrity items being auctioned on consignment by the family through Sotheby's, so I purchased the items directly from the family, with the sale being handled by Sotheby's. At later times, I've only had to point to the catalog pages, picturing and describing the item and stating where it came from, to prove the famous former ownership. While a buyer might have his doubts that the General George Patton family would consign through an eBay seller with marginal feedback, the potential potential will beleive that Patton's family would consign to Sotheby's or Mastro. At a later date, you'll have an easier time reselling Patton's pistol and helmet if you purchased it from Sotheby's as compared to from eBay id paulieshoreisasexgod. With the latter provenance, your potential buyer will say, "To start, the person you purchased this gun from obviously is insane. Second, I thought it was illegal in most states for Paulie Shore fans to own guns."

Does The Auctioneer Impact The Price?
 

Posted By: <b>barrysloate</b><p>Having just completed an auction last night, perhaps I can offer a different perspective. Being a seller and not a buyer, I can tell it's all about having the right stuff. Find a T204 square Ramly of Anderson of which only three or four are known and the world is your oyster. Offer something to the hobby that is rare and exotic such as a complete set of 1872 Boston CdV's and the buyers will find you. I don't think big or small makes a difference, but customer's faith in the process does. Big auctions consistently offer the best stuff but put the great stuff in a small auction and I am not sure you are losing much; in fact, sometimes smaller auctions get higher prices, as bidder are more focused. There is no right or wrong answer, as it's all about the stuff. Find me a Four Base Hit of Kelly and for that moment I am king of the hill. I think the stuff is more important than the auction house. However, every house still must run a tight ship and gain the respect of its customers.

Does The Auctioneer Impact The Price?
 

Posted By: <b>Bob</b><p>Easy for you to say, Barry, because you run great auctions, are collector friendly, and above all just a nice guy <img src="/images/happy.gif" height=14 width=14><br />One thing I have noticed more and more in auctions is that I have noticed moa lot of hybrid lots, i.e. E94s with T206s with Sporting News with blankets with etc. I know why houses do this, but there have been several lots I have bailed on because the only cards I am collecting in the group are caramels, for instance, and it is a major pain to keep uping the ante when I know I'll have to dump a lot of stuff on ebay (where you NEVER know what a card will bring). I wish the lots were homogenized with groups of caramels, groups of tobacco cards, etc, more.<br />I also still believe that rather than consign an entire set or near set to an auction house, you are better off (if you have the time and patience) to break it yourself and sell the cards one by one on ebay. You'll make more money, generally. This is based on my own experience of doing it both ways. There is just not the premium for working your tail off to complete a set with an added bump for the enormity of the task, that there used to be...

Does The Auctioneer Impact The Price?
 

Posted By: <b>peter chao</b><p>Guys,<br /><br />Is there a book or a website perhaps that compares different memorabilia auction companies.<br /><br />Peter

Does The Auctioneer Impact The Price?
 

Posted By: <b>barrysloate</b><p>There isn't Peter, but you can always ask people on Net54 to give their opinions.

Does The Auctioneer Impact The Price?
 

Posted By: <b>joe</b><p>Peter, you need to get catalogs, ending prices from each auction house to compare. That will give you an idea if that is where you want to buy or consign. You can also do this online, with most if not all of the auction houses.<br />Joe <br><br>Ty Cobb, Spikes flying!

Does The Auctioneer Impact The Price?
 

Posted By: <b>Will</b><p>Is there a book or a website perhaps that compares different memorabilia auction companies?<br /><br />Referencing question above, I met a guy at the National who was devising just that type of service. Try vintagecardprices.com to see how it's coming. His concept addresses exactly what you are looking for so I hope he's having success getting it going as it would be useful for me as a seller as well.<br /><br />Will