Do big auctions go forward?
 

Will be interesting to see. No health issue obviously and a nice diversion, but I'm wondering if the economic picture makes sense to be running a large auction right now. Are buyers going to show up as they are watching their retirement accounts and kids college savings accounts taking a huge kick in the nuts every day. Are sellers going to be cool with this? Time will tell.

Yes, a fairly insignificant issue in the grand scheme of things.

Even though we are discussing it in several threads I think it's ok as that is what is dominating the world today.
I think it's a mixed bag. If I see a certain card I need I will just have to figure a way out to acquire it. However, I have curtailed a bit otherwise.

It's super scary for the small auctions out there. I can't NOT have auctions, and my live auctions are shut down for the foreseeable future. I don't have a lot of options, I can't collect unemployment. Legally I don't have to, but I am going back to each consignor to make sure they are still OK with going ahead and have only lost one so far. With a full slate of online auctions AND having to move my live auctions online I am really concerned with the survival of my company. This is extra frustrating because I was just getting to the point where I was getting ahead, better consignments were coming in, people were scheduling appointments to meet at shows, which are also canceled, and obviously our customer base was growing each sale. How do we get through this? Your guess is as good as mine.

Hope you can do online auctions to keep your momentum on a positive note Scott. I found when I sold on ebay that if I stopped listing for a month or so that I lost most of my regular bidders. I'm sure it isn't that much different for you. Best of luck going forward

Thanks Bob. What makes it tough is the company has been doing live for over 30 years and that is our much larger revenue stream. The online, which I added only 2 years ago, has been improving but was still being supported by the live.

auctions-future
 

There will be a demand for on line auctions as so many people will be home and need some stress relief and or will have the prudent anticipation for things to get better. We must remain diligent & positive. As long as USPS, fedex and ups are still able to function, mail order auctions, mail order business models are doing well now and should continue to do well if we all remain calm & positive.

The speculation market will not fare as well and of course not having shows at this time will be a hit to some dealers but we have net 54, e bay, on line stores, we have to reinvent ourselves in many ways and I for one still want auction houses & grading services to function, if for anything else, it gives us something to look forward to. Be safe!

We at Huggins & Scott are moving forward with our May auction. There may be some hiccups along the way as we depend on grading turn-around times for several of our lots.

Scott, you can keep the proceeds from my consignment (D359 Rochester Balijg, Cy Morgan, SGC 2). Consider it a show of support. I know it won’t solve any issues, but it may help a tad. I would rather may favorite auction houses stay open then me get a few hundred $$. If you don’t feel comfortable doing that, pick a charity and donate the money in the auction house’s name (maybe you get some advertising benefit).

Ryan, I don't know what to say. I'm probably like most people, not looking for a hand out, but a hand up. The main reason I have shared the posts I have is to hopefully drum up support from those in the Net54 community who are still buying. In my short few years on this board I have tried to be a contributing member, not just an advertiser. I love this hobby and have so many great experiences with collectors and dealers and even other auctions that I have tried to give back with what little knowledge I possess, my honest (to a fault) opinions, and even the occasional tobacco card give-away trivia questions (which sometimes take a little too long to ship, but hey it's a free prize) So I felt fairly comfortable asking for some support from the community.

Having only lost one consignor has been an amazing experience as it had to be tempting to pull out with all the uncertainty. Your gesture, in going a step further, is honestly a little humbling. Hopefully by late Spring when the auction starts I'll have a grip on where we are as a company and it won't be necessary. If that's the case, maybe we can put our heads together on a way to best use the money in the fight against the coronavirus (hopefully the AFTERMATH of coronavirus at that point!) I would lean towards donating it somewhere that benefits someone who is suffering financial consequences of shut downs etc.

Thanks again for the honestly unlooked for offer. I know we're all tough manly men here, but I was sincerely touched.

Scott - when I can get to my safe deposit box in the coming weeks will send you a few nice cards for the next auction. Steve

I'm not seeing anything cheaper on Ebay and even at Crazy Uncle who just ended on Sunday.

Prices seem to be strong as ever.

Wish there would be some steals, I'm not seeing them.

So keep the auctions going!

Don't believe the CNN FEAR Mongers. Every article is doom.

This too shall pass. A complete mess yes, but it is going to level off VERY soon, maybe as soon as next week and then it will slowly get better each day.

HANG IN THERE ALL!

and keep the auctions going!!!!!!

Inspiring. From your mouth to God's ears!

Scott
 

Scott is truly
One of the good guys and absolutely
Deserves this kind support being shown to him.

As for Steve’s original question
 

I think they absolutely go forward. I have had auctions ending this week on eBay and frankly got why I expected and in the case of some more modern basketball exceeded what I hoped to get.

The flip side is that, just as people are selling assets like stocks and metals to raise liquidity, more people may be motivated to sell some cards or memorabilia for the same reasons.

I have my 1965 Twins bat collection consigned to VSA for their April auction and while the prices realized might be less than what I was hoping for, if I put those proceeds into the stock market or silver or platinum, I'll be buying at prices 2/3 what they were a few weeks ago. So, it's all relative I guess.

I think all auctions should go forward.

Since this crisis has hit, I have noticed an increase in sales. More people staying at home and bidding online.

If one online auction closes, I am sure the bidders will find another place to bid.

Glyn, I agree with you 100%, and IMHO, Scott is "as honest as the day is long."

Scott, don’t sweat it. I am happy to help. You are one of the good guys and I want to see your outfit grow; but it needs to survive. Happy to help. Keep on kicking butt

Bidders: Auctions should run, we need something to do and prices might be cheap.
Consignors: Move out the auctions so that I don't get killed on my items.
Other consignors: Have the auctions, I need the money.

My next auction will open right in the midst of all of this on Monday March 30th with nearly 700 lots and I don't expect to miss a beat. There are hundreds and hundreds of nice pre-war cards from several better sets that I predict will show the current market to be very stable, if not stronger than usual.

Also included will be a large amount of older dealers/collectors material(Lots of autographs and memorabilia) with very low opening bids which should give everyone sitting at home with no shows to go to a chance to search for the needle in the hay stack.

I think it's a mixed bag. I really only hav two cards on my hit list right now, but I won't be going to Chantilly so I do have some extra cash to spend. I think the next couple of auctions will set the stage for the next three months.

I got a briefing this morning from a doctor who is in the know and his best advice is to stay the hell home if you can and wash your hands. Even if you are not in a high risk group, staying at home is a great thing to do. You are leading by example. The more people are out, the more people want to go out.

My friend collects knives, in the 5K-10K neighborhood. He said sales this past week mirror what they were 2 months ago.

No change.

What do buyers and sellers remember from the 2008 era?

You're too negative, too many negative people, dats a no good.

Think positive.

So far the majority are thinking positive, at least auction wise. Look at Collect Auctions ending tonight, again I can't find a freaking deal. Outbid on everything.

I think once Flu season ends, the US is gonna come back strong and quick from this.

Negative for asking a question?:confused.

I've tried....
 

to forget as much of that as possible - Mom died, Huge competitor opened, economy crashed - in that order!

My vote is to absolutely move forward with online auctions. Most of us are stuck at home, and while many of us are taking it in the shorts financially, we are also spending lots less on entertainment.

No more eating out, no more expensive cocktails, no bars, no movies, no plays, no concerts, no sporting events, less available shopping options, etc. What a perfect time for a good auction to break the monotony!

I don't mean to be insensitive to anyone who is currently suffering. Just saying that we should hold on to one of the few good things about being stuck inside the house. And prices seem to have remained as strong as ever. Just my 2 cents.

Scp delayed one week

Scott, I would love to see the BL 460 and the Duffy Red Hindu in the auction! I would indeed be a bidder on both.

No need to wait, they are available for purchase right now, along with several other tough front/back combos.

Well, according to collect auction rules:

"RESERVES: This auction contains property belonging to third persons known as consignors and lots submitted by consignors may include a reserve. A reserve is a confidential price agreed to by the consignor and Collect Auctions LLC, below which a lot will not sell. Collect Auctions LLC may place bids on behalf of the consignor for such lots up to the reserve. Max bids placed for those lots with reserves will be automatically bid up to but not above the reserve, or up to the max bid if the reserve exceeds the max bid."

Make of that what you will.

I would love an explanation of the difference between an undisclosed reserve that an auction house can place bids up to and shilling?

OK guys if you ever wondered what we have at our live auctions, the emergency online auction is up and running. It's about 3/4 normal size due to loss of a consignor. Highlight is the PSA 7 Clemente Rookie.

Good Luck Scott and to all the Auction Houses. I’m a huge supporter to all Auction Houses, but like many others, my involvement will be put on hold. My (NYC) commercial exterminating company went from 160+ (bars /restaurants) steady monthly customers to zero in a week. Stay healthy and good luck to all.

Thanks Chuck. Your plight, and the plight of many right now, does make me grateful that I at least have a chance of keeping things going. Best of luck, you're in my thoughts.

Scott
 

Scott, nice auction. Just put in some bids. Others appear to be bidding so not everyone is hiding under their beds. Best of luck with the sale.

Just got an email from Al at Love of the Game auctions. He said they will be moving forward with their auction beginning next week.

I would guess others will be watching the results closely.

Better than most
 

Any industry would love right now to have a customer base fitting the Net54 profile: a high-earning demographic with plenty of disposable income. My guess would be that the benefits for collectors in the current situation discussed in this and other posts will more or less even out the patent disadvantages and things will end up pretty much as they were before. A poster caught grief for asking the obvious question, to which I would also like some answers from this community: what happened in auctions during the recent financial meltdown? That should serve as a pretty good guide to this one, the fallout of which will last about as long and recover about as quickly, I'd imagine.

I think you will do great. According to three shop owners that I know they have had some of the best days selling inventory since this thing went down. Whether they get shut down as this thing progresses is something none of us can predict. One thing for sure, people love their cards and will participate in the hobby the best way they can find.

Collect Auctions closed last night, and seemed to realize very strong prices despite all of the gloom, doom, and mayhem. Who knows how far this thing will progress, and for how long? None of us at this point in time. But at least we have these online auctions as nice little diversions while we remain isolated and wait for a cure, vaccine, or other miraculous turn of events.