Quote:
Originally Posted by 100backstroke
As it usually does. Hmm, Ok, just curious - the last couple times this or the Gretzky copy went up for sale - what were estimates vs. what they closed?
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I believe the point wasn't the record of estimates vs final price for those two cards, but rather a commentary on auction houses and their estimates.
Some traditionally try to estimate conservatively, thus being able to both promote how well some items have done against the estimate and set a reasonable expectation with a consignor. Others estimate higher, perhaps to get the consignment initially, and/or to encourage higher bids.
Either can work, unless it's overdone. Estimate too low, and they might miss out on better consignments hurting the business in the long run. Estimate far too high consistently and the same will happen as the business gets a reputation for underperforming. It's a constant balancing act, and probably quite challenging.
Steve B