| Topnotchsy |
07-18-2024 03:52 PM |
Posting some things to clear up some confusion in the chat. (I've sold with many of the major auction houses, though admittedly no items in the price range you are talking.) Some of this is pulled from something I wrote up to someone else. I think I edited it for this post, but a couple of statements may not be as directly relevant.
The general structure for auction houses is for there to be a sale price and a buyer's premium (BP). The BP is usually in the 20% range. This is on top of the sale price. So if a bid is $100, it is technically $120. (The auction houses generally show both numbers).
When an auction house says it is taking a 0% fee, it usually means that they are not taking a fee BEYOND the BP, but are taking the whole BP. This is why in some cases you can negotiate beyond a 0% fee.
When thinking about how your item is for an auction house, consider the importance of the item (does it boost their auction to include it), the price of the item (selling fees are generally percentages, so the higher it is the more they get) and the work on there end. For a rare, obscure piece of memorabilia they may need to do a lot of work. For a graded 1952 Mantle, they have basically zero work in researching, authenticating, photographing and write-up (they have a hundred past 52 Mantle
I don't believe there is a single 'best auction house.' Once you are using an auction house that is a good fit generally, a lot depends on what you negotiate with them,
If your item is fairly 'standard' such as a Mantle signed baseball, most of the major auction houses are going to do an equally good job. For rarer, more specific items, you will want to know what sort of promotion they are going to do around those items.
Some auctions have particular areas of strength. Nobody matches Goldin for modern high-end (think Doncic Rookie Auto's, Jordan cards etc). REA often has an incredible range of memorabilia, including deadball era. (It has a wide range of items, so don't take this as limiting what they sell.) Heritage often has some of the most expensive items available across markets (high end vintage game used, high end cards etc). Love of the Game is a smaller auction house which does a great job on research and highlighting obscurer items. Hunt probably has more player collections than any other site. Grey Flannel has tons of game-used items.
Each auction house's specialty means that they likely have a strong following in that area, though there is no guarantee that that translates to a higher sale. It could be that an item 'gets lost' among similar items, while at an auction that is mostly focused on other items, it stands out. There is an element of randomness in auctions. I would generally assume that going to the auction house that specializes will win out, as the larger audience should usually help. (Although if you have a unique item, I think it is fully justified to ask the auction house whether they have something similar coming in the next auction, and consider a different option if they do).
For a card like yours, I would definitely consider REA and Heritage though i would not limit it to talking to those two. If you are open to a place like LOTG, it is a smaller shop with a great reputation and the item could get more attention (relative to other items in the auction.)
Auction houses also vary in how responsive they are to your feedback. Some appreciate you feeding them info, others are more looking to take things and run with them. Whether this matters would depend on how obscure your item is.
Many auction houses have monthly auctions and premier auctions. For higher end items, make sure it will be a premium ('catalog') auctions. With your item I think this would be a given.
There are some practical differences to consider as well. I once had a collection of lineup cards I was looking to sell. I was in touch with a number of auction houses including REA (who I've sold with and like). REA indicated that their auction structure is to place items (outside of a handful of enormously expensive pieces) chronologically. This meant that the lineup cards were not grouped. Meanwhile, Goldin was happy to have them grouped, and had a grouping made for them (so on the dropdown menu you could click on "significant lineup cards" or something along those lines.)
Off the top of my head, the auctions I make sure to keep an eye on: REA, Heritage, Goldin, Hunt Auctions, SCP Auctions, Lelands, Love of the Game and Huggins & Scott. I may come back and edit when I realize I left out a big one.
Finally, negotiating matters. Speak to multiple auction houses that seem like a fit and gauge their interest. See what they expect the item to sell for (and check it against what you believe). Ask them about how it will be featured (full page in catalog? Etc) And ask about the fees. Don't be afraid to push, especially if it is a super easy to deal with item (like a graded card) and high dolalr. It goes without saying, but they are people too and their time matters (and you want to maintain relationships with them. Even if you decide to sell at a different auction house now, you may have an item that is better for them in the future.
Hope this helps.
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