Christies auction question

[Snapolit1]

What has the experience been when one of the huge non-sports auction places runs a large baseball auction like the one Christies is doing now? Does everything go off at stupid prices (plus a sweet buyers 25% commission)? Is it possible to find some decent deals around the edges that aren't at record setting prices? Interesting auction but I'm guessing insane price inflation by the time its all done.

[gnaz01]

Christies isn't new to sports auctions, they just haven't done one in quite a while....

[Snapolit1]

I understand that, but what I am trying to get it is Christie's is going to pull in a far more diverse (well heeled) audience than a sports auction house. Their auction was written up today in the Wall Street Journal for example. Does that translate to huge crowds of bidders and runaway prices?

[rjackson44]

Bid on what you can afford.this auction has no bargains.and it never will .good luck.

[bigfish]

Originally Posted by Snapolit1

I understand that, but what I am trying to get it is Christie's is going to pull in a far more diverse (well heeled) audience than a sports auction house. Their auction was written up today in the Wall Street Journal for example. Does that translate to huge crowds of bidders and runaway prices?

I am not good at predicting the future but I would assume that great material brings in great prices regardless of the venue.

[Klrdds]

I participated in the last major Christie's auction back in 1998 of the Joe Jackson estate. I picked up a Joe Jackson signed document in that auction. A few years later Christie's was hit with a class action law suit for excessive fees in that auction primarily and I received a large settlement . That being said this auction is going to bring out many heavy hitters , and Christie's is going to be very careful not to get into another class action lawsuit . They require a credit card to participate and will charge your card for the winnings unless prior arrangements can be made and to weed out non-serious bidders. I have already talked to my bank concerning a credit line for this auction and i would make sound financial arrangements well before the auction because this auction will bring out many heavy hitters with deep pockets and some are not collectors but investors with money to burn for themselves or for their clients. I am aware of some bidders willing to go well into 6 figures for items.
My advice is to prep well for this auction and pick out several items to bid on and set limits because their fees are high also.
i feel that this auction is not for the hesitant bidder or novice collector....IT IS A BIG AUCTION packed with museum quality material and the clientele/bidders will emphasize that .

[BeanTown]

What ever happened to the term "it might be to rare for its own good". Sounds from the above post that Christies will have different bidders/investors that will pay what they deem "market value" is. Let's hope that all these new buyers don't find out about all the other auction houses which come up with tremendous items each year.

[Snapolit1]

Originally Posted by Klrdds

I participated in the last major Christie's auction back in 1998 of the Joe Jackson estate. I picked up a Joe Jackson signed document in that auction. A few years later Christie's was hit with a class action law suit for excessive fees in that auction primarily and I received a large settlement . That being said this auction is going to bring out many heavy hitters , and Christie's is going to be very careful not to get into another class action lawsuit . They require a credit card to participate and will charge your card for the winnings unless prior arrangements can be made and to weed out non-serious bidders. I have already talked to my bank concerning a credit line for this auction and i would make sound financial arrangements well before the auction because this auction will bring out many heavy hitters with deep pockets and some are not collectors but investors with money to burn for themselves or for their clients. I am aware of some bidders willing to go well into 6 figures for items.
My advice is to prep well for this auction and pick out several items to bid on and set limits because their fees are high also.
i feel that this auction is not for the hesitant bidder or novice collector....IT IS A BIG AUCTION packed with museum quality material and the clientele/bidders will emphasize that .

Thanks. Sort of what I expected.