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Posted By: Jay Miller

Hal--It's funny you say that. I have heard another consignor saying the same thing. The prices on a few items seem high but on many items they seem very low. My sense is that REA made a big mistake holding their auction directly after Mastro's and Lew Lipset's. Many people already used up their budgets and because of that some consignors here could be hurt. On the other side of the coin there could be some good deals for buyers.
As a test one could follow the results of the much discussed Old Judge/Gypsy Queen/Mayo proofs. We saw what they realized in the American Memorabilia auction last year($50,000+ for four images). New information came out that I would imagine should reduce their value so I would expect those in REA to do somewhat worse. However, there will be some more proofs in AM's June auction. If AM does better than REA again then I guess it says that REA needs to rethink their timing.