REA Results and "The Market"

[Bosox Blair]

I'm a bit surprised there has not been more discussion about the Spring 2013 REA results generally. In the past I have always felt the REA results were something of a barometer for "the market".

Despite a few consignors getting disappointing results (sorry Pete! ), I felt the final prices were quite strong...and there is still another REA to come this year.

According to REA's post-auction info, they sold $10.17 million, and 99.77% of lots sold (1807 lots).

I read this as a signal that the market in general is gaining strength. Having been a bidder in the last 4 or 5 REA auctions, I think this one showed the most spirited bidding over that timeframe. Some collectors have commented that their bids were blown out of the water, and there were few bargains to be had. I generally agree with this - and I think it bodes well for the continued recovery (since the late '08 fall) of the sports collectibles market through 2013.

Your thoughts?

Cheers,
Blair

[bcbgcbrcb]

I thought bidding was strong and material was as good as ever. I was very surprised at the minimum bid on the 1863 Harry Wright when the auction first went online and it proved to be too high as it was the only really high profile lot that went unsold.

[jimivintage]

Originally Posted by bcbgcbrcb

I thought bidding was strong and material was as good as ever. I was very surprised at the minimum bid on the 1863 Harry Wright when the auction first went online and it proved to be too high as it was the only really high profile lot that went unsold.

Much agreed, Phil.....what a shame for sure.

[Bridwell]

I would characterize it as "smart spending". In my case, after tracking and bidding on 50 lots, I only won 2 of them. The prices weren't sky high, but they seemed about market value. Not great deals so I didn't spring for them.

My consignments didn't do that great. Didn't get the sky high bids I had dreamed of. I guess buyers are becoming more savvy.

Maybe that's why there aren't many threads on this. Not too many sky high bids this year in REA, or greal deals.

[Bosox Blair]

Originally Posted by Bridwell

...after tracking and bidding on 50 lots...

Hi Ron,

Nice job on the marker bids! I got about 20 in...also won 2.

Cheers,
Blair

[drc]

Not my area of knowledge, but others elsewhere said that that the unopened packs boxes, ala 1970s Topps, went very high, often setting records. They assume it would raise the price of such items across the board due to the scarcity.

I thought the overall prices for other items looked healthy, a number of items got very strong prices. I generally look at all the categories in an auction.

I thought a lot of lots had respectable prices, just not sky high as one might expect. There were several photos though I thought could have gotten much higher prices, though they didn't go for nothing.

I think the Harry Wright 'card' was worth more than $50,000. I thought similar items in the Legendary items were undervalued. But that's just my opinion. Others clearly disagreed. Maybe I'm ahead of the curve, maybe I'm not

Clearly lots of people are bidding good money, but I don't think the market has reached it's peak yet. I thought the prices in the few months back Legendary auction was shockingly low, but that may be due to reasons other than the market. The Dreier (sp) collection had highest quality and rarely seen items (Primo 1800s CDVs to the best Armor Coin collection I've ever seen), so it wasn't due to lack of quality material.

[rhettyeakley]

Originally Posted by bcbgcbrcb

I thought bidding was strong and material was as good as ever. I was very surprised at the minimum bid on the 1863 Harry Wright when the auction first went online and it proved to be too high as it was the only really high profile lot that went unsold.

Phil, that lot was actually pulled in the days prior to the auction ending by the consignor. You had to go into the description to see that the item had been withdrawn. I think it probably would have garnered a bid, I for one would rather have had that card than the CDV from the Maine auction house. The consignor may have gotten cold feet when it wasn't getting the expected action.

[bobbyw8469]

Not too many sky high bids this year in REA, or greal deals.

In a different thread, I noted how REA had sold the exact three cards that I sold five months earlier (two cards being identical grades, and the third being only 1/2 grade higher) for $1,000 more money. Either those bids went too high, or I got ripped off. Probably a little of both.....

[bcbgcbrcb]

Thanks for the info, Rhett, I never thought to check that. I am very surprised that a consignor would be allowed to pull an item like that from a major auction only a few days before closing. I'm not sure that a lot of auction houses would allow that.

[Wymers Auction]

Originally Posted by bcbgcbrcb

Thanks for the info, Rhett, I never thought to check that. I am very surprised that a consignor would be allowed to pull an item like that from a major auction only a few days before closing. I'm not sure that a lot of auction houses would allow that.

There really is not much recourse for an auctioneer once a consignor backs out. You can charge them the commission based on market value. It is not a smart thing to sell an item after a consignor says no, even the written contract will not easily save you the trouble it will cause you.