Sotheby's E107

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Posted By: barrysloate

The whole group of E107 hammered for about 250K, and I think that is quite a bit lower than people expected. The Wagner hammered for 80K and with the juice didn't break six figures. Strong prices, but didn't quite live up to all its hype.

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Posted By: Brian McQueen

I noticed the first half of the lots were going very low right up until the Chesbro. Wagner went for only 80k. I got lucky and picked up Delehanty though so I'm thrilled!

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Posted By: Hal Lewis

I got Keeler, so I am also happy.

My $75k bid for Wagner was obviously beaten by someone, so hopefully it is someone I know and like!!

**Actually, after reading all the "hype" on this site last week, I made the $75k bid on Wagner thinking it would get DOUBLED in the first few seconds of bidding. As it turns out, I almost got the darned thing.

BUT...

I am fully aware that if I had been actively bidding and gone up to $100k... I still would have probably lost it to the guy who really wanted it... it just would have cost him more.

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Posted By: Hal Lewis

Only $8,000 for the Cy Young E107!!!????

Good Lord... did the phone lines go down?

Someone is smiling from ear to ear... and it ISN'T the seller!

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Posted By: scott brockelman

actually the young was probably the lowest grade card of the HOFers and priced about right. i thought several of the others went fairly low. i bid at lower levels on several but not needing them, dropped out.

i was successful on 3 of the 4 group lots so there is some joy in mudville.

scott

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Posted By: Hal Lewis

Yeah, that is true Scott.

I forgot that all SGC 10's are not created equal.

The Young had some paper loss on the picture on front and a lot more on the back. Maybe even a crease or two as well.

Probably closer to an SGC 3.75 if they had such a thing.

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Posted By: barrysloate

There were some curious underperformers. What about the group of 20 graded SGC-30. They barely broke $500 a card. Scott, if you got that one, you are smiling all the way to the bank.

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Posted By: Hal Lewis

Call me newfangled...

but I think the days of the "old fashioned auction" have come and gone.

If you want to get BIDDING frenzies going... you have GOT to be live on the INTERNET where MILLIONS of people can be watching and waiting.




I am willing to bet that SOMEWHERE out there in our hobby is someone who is saying: "Heck, I would have bid $85k on that E107 Wagner if I had been given the opportunity, but I didn't want to fly to New York or sit on the phone all day because I thought for sure it would go higher."

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Posted By: Brian McQueen

Was curious if anyone on the board won the lot of 3 Type 2 commons. I'd really be interested in the Tenney if the winner was looking to recoup some funds.

Also, any idea who won the Waddell Type 2? Just curious...

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Posted By: PaulPaulPaul

I may be ignorant, but I'm real surprised at the price difference between Wagner and Young. The Wagner is in better shape and by some strange definition may be he is rookie, but 10 to 1?????

By the way, if the guy who won the Warren Studios cabinets has no use for the Spalding, drop me an email.

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Posted By: joe maples

If anyone picked any Detroit players in a lot, I would be interested in talking about one.

Thanks Joe

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Posted By: barrysloate

No use for the Spalding- that was the plum of the lot. Our group was the sad underbidder at 95K. It wasn't meant to be.

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Posted By: JimB

I hope you are wrong about the format Hal. I don't like the live format. I like the 30 minutes to think about what I want to do. Last night in Mastro when one lot I was bidding on went past what I wanted to spend, I concentrated on a few others. I am much more comfortable with that format than having to decide in two seconds whether or not to go higher.
JimB

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Posted By: barrysloate

I agree with Jim- bidding in a live auction like Sotheby's is nervewracking. Plus, once a lot is done, you can't go back. In Mastro and other internet auctions, if one of your lots gets too high, just go back to a different one.

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Posted By: Hal Lewis

JimB:

When I said "live"...

I meant just like the Mastro format. That one, I think, is as good as it gets.

Much better than the "ultimate deadline" of EBay...

but still LIVE on line where you can bid in REAL TIME from your computer with no other effort required.

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Posted By: Harry Wallace (HW)

I cannot figure out how to access the prices realized. I do not have an account with them. Can someone tell me what these lots sold for.

1. 1872 Boston Cabinets
81. Mathewson contract
178. Heisman Trophy
183. Joe Jackson bat
233. DiMaggio uniform

Thanks

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Posted By: Brian Weisner

Hi Harry,

Here you go...

1. 120,000
81. Not sold
178. 228,000
183. Not sold
233. Not sold


Be well Brian

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Posted By: Hal Lewis

The "bellcow" of the auction did not sell???

The DiMaggio rookie jersey??

That's got to be embarassing?

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Posted By: cmoking

I don't know much about the other items, but the handful of Goudeys they had all went for relatively low prices. I wonder if the fact that they spaced the Goudeys out throughout the auction (and the catalog) rather than putting them together on the same page ... I wonder if that made a difference in the final price. I know the consignor and I know the price he paid for those cards. If I was him, I'd be pissed.

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Posted By: Harry Wallace (HW)

I thought that I was doing something wrong. When I clicked on the items in the "browse auction" screen, no prices came up on some of the items. I see now that that means that the items did not sell.

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Posted By: Richard Masson

Does anyone know what the reserve price on the contract?
What was the last bid before they hammered it?

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Posted By: Anonymous

meaning that the reserve was most likely $50,000. I recorded the lot numbers and last bids on 31 passed lots if anyone is looking for other information.

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Posted By: barrysloate

The reserve must be equal to or lower than the low end of the estimate.

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Posted By: Harry Wallace (HW)

This is how reserves have been explained to me.

Say that an item has a reserve of $50,000 - the Mathewsown contract for example. The Sotheby's auctioneer will start the bidding and will continue the bidding all of the way to $47,500, whether or not there is acutally anyone willing to pay that price. They are allowed to bid on the item themselves up to that level. Then, they hope that a real person jumps in at $50,000 and then he owns it. Otherwise, it passes at $47,500 where the bidder could have been a real person, or just Sotheby's bringing the item up to that level on its own.

Can anyone with more knowledge confirm that this is how it works?

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Posted By: Anonymous

The Sotheby's auctioneer started the contract at around $35-40K. She would state "The bid is with me at $40,000". "With me" means the auctioneer bidding on behalf of the seller to the reserve. "In the book" means an absentee bidder is winning. She would continue the bidding incrementally up to the last increment before the reserve, always stating "With me". On many lots, someone would jump in, either on the floor or on the phone, and get the lot at the reserve. Still, a number of lots passed.

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Posted By: barrysloate

I believe Harry is correct. Sotheby's has a good deal of leeway as to what they are legally permitted to do as long as the bid is below the reserve, since the lot can not sell anyway. Once they get one increment below the reserve, then that's it for them, because if the next bid comes in and meets it, they are no longer legally allowed to bid. While it is a common practice, it always confuses bidders on the floor because they have no idea whether anybody else is actually in.