How Does the REA Auction Look for You?

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Posted By: Adam B

I checked last night and the 7 items I was looking at were already about twice high estimate - way past the depths of my pocketbook. Hope you are doing better in your quests.

Adam B

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Posted By: Hal Lewis

Yet ironically... the 20+ items that I am SELLING in the auction are all at about 50% of the estimated value!!



I need a big wave of late bidders to get excited about my cards!!!

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Posted By: warrior1978

Keep the prices down!!! I might win something for a change
I have my eye and my pocket book on some Ty Cobb items

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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.

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Posted By: warshawlaw

are all over estimate and over my budgeted prices for them.

I think what we will ultimately see is that quality cards bring quality prices wherever and whenever they are offered. It isn't like the old days; we all have overlapping access to the on line auction catalogs and can decide in real time whether to go after items in the overlapping auctions. I know that I did that with the latest run (20th century only outbids-go to mastro-mastro too high--bid in Lipset-lost in Lipset, look at REA). What I collect was very high priced; I was way out of the money on anything I wanted in Mastro, I was topped on all of the Lipset lots I wanted except one (and I got that one only because I went in with someone who I split the lot with, which enabled me to jack up my bid beyond my budget), and I am out of the running on the items in REA too.

The lots I see getting killed are the second tier cards, the postwar stuff, and the lots that are more or less random comglomerations of cards that don't make sense from a collecting perspective but that have break value. The latter especially will be hurt by timing because the collectors who would buy them for some of their parts at "retail" and try to turn out the remainders in trade or on ebay are the ones who jack up the prices over the break-up value to dealers, and those collectors probably shot their wads in the prior auctions.

I know it is a recurring rant, but here goes again: Why are things lotted so bizarrely in all these auctions? I was dissuaded from bidding on many lots because they had so much crap I don't want thrown together. I remain convinced that the auctioneers and their customers leave a lot of money on the table by throwing so much stuff into each lot and driving out collectors who would bid pretty well on many of the separate pieces. If a lot is estimated at $1,000 and contains five disparate items, I might be willing to pay $500 for the one item I want, but I don't really want to deal with the remaining stuff unless I can get a steal. There are probably more collectors who feel the same way. I know some auctions that have closed in the past have left thousands of dollars on the table because of lotting decisions, either because I follow the market on the cards sold or because I bought them and turned them out myself. I am especially peeved when multiple sets of the same cards are lotted together; why not make one set of the best cards or even two and then junk lot the rest? It has to be better than dumping all of the sets into one sale and in essence consigning the lot to the dealers who would be willing to carry the extras as inventory. It seems to me that lotting decisions are made on the basis of simply being able to state an estimate of $X per lot. I think the auctioneers are doing a disservice to the sellers of these items. I know whan I bottom feed on these sorts of lots I often pick up cards at a fraction of value and have my cash out quickly. That can't help the sellers at these auctions.

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Posted By: Paul

Hal, which lots are yours? I can't find anything at 50% of the estimate. I'd like to find a bargain.

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Posted By: Texas Ted

I know some of the lots are grouped very strangely, but that is where I can help. I would be happy to take leftovers, and I don't care much what I get, as long as the split price is fair. I am semi retired and deal more for fun than profit. As long as I have inventory, and don't lose money, I can be happy with a very small profit. Actually, I hope some of there weird lots go for small bucks, as they are my specialty. Email me privately to discuss.

Texas Ted
Starting my third attempt at a second childhood.

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Posted By: Bottom of the Ninth

The estimates were extremely low in most cases. Their prices maybe low as it seems their server is overloaded. The site is moving slow for me and I mean SLOWWWWW. I have far more bidding to do but may end up blowing it off if it drags like this.

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Posted By: tbob

is that the trimmed card lots are doing so well. Either true collectors are fighting it out for cards to stay in their collections or, and I hope this is not the case, shrewd and shady characters are buying these lots and plan on conveniently leaving out the fact they are trimmed when they pop up on ebay.

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Posted By: Anonymous

...the server has finally bit the dust entirely.

guess I'll have to go dig out the catalog and hope the phone lines are working.


looks like the initial bidding time has been extended
to 6pm

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Posted By: warrior1978

Yeah, one moment the database is up and then it isn't. At least their operators seem to be pleasant to work with. If only I didn't have to call from Germany

I love sitting home on sitting night hanging out on the computer. Now if I was in the states, I'd only be losing my Saturday night afternoon, not Saturday night.

Anyhow, if someone outbids me on the lot I'm working on, I'm not gonna be too happy. I really reall want it! I won't hold a grudge for more than a day, Promise! j/k

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Posted By: barrysloate

Rob just extended the time to qualify by two extra hours because of the slowdown, but I can't even get onto his site at all. He can't be a happy camper right now. What if the whole thing comes crashing down?

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Posted By: warrior1978

I just noticed my auction is now two hours later...

It is already late in Germany and I've been drinking. I normally don't drink, but if I drink I'm more willing to spend my money.


With the site up and down, I notice that I can search for a specific lot # and use some functions, but I can't get a text or title search to work.

Anyone who is serious about an item wouldn't be stopped by the website, they would call in they wanted it bad enough.

Best of luck with whatever you're looking at!!! What are you looking at? As long as it isn't the same thing I'm looking at, we're okay!

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Posted By: david

i am not having too many problems with the site, it is a little slow but i can navigate the site pretty well. how long does extended bidding usually last for these auctions. is the last mastro usually the exception going on all night. i know that rob can end the auction any time after 11 tonight

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Posted By: barrysloate

Rob told me he is guessing 1:00AM-2:00 AM maximum, but that's just a guess and everyone should stay on top of the lots they are interested in.

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Posted By: david

do people employ any types of bidding strategies after hours. i like what mastro does in the classics auction where each item ends after 15 minutes of no bids

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Posted By: barrysloate

My strategy is not to bid until my lot is at the point where I have only one increment left. Then if I get topped I move on to the others. Before I go to bed, admittedly early, I leave all my ceilings and forget about it until the morning. Everyone does it differently.

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Posted By: warrior1978

All I know is that I have an absolute maximum.

What sucks is you don't know what time for sure they will close the auction. According to their terms and conditions, they can keep on going.

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Posted By: Jay Miller

What a mess! I feel sorry for Rob since he operates like a one man band. At least there are still some cheap Old Judge N172/N173 lots available. Hopefully,the computer problems keep them that way.

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Posted By: warrior1978

I totally agree, keep them away from my Ty Cobb auction. Right now, this is totally about me.

If you aren't happy with the website, you can always use Ebay and bid on the same item for an additional 4% commission. 4% adds up very quickly

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Posted By: Robert Edward Auctions

We apologize for the slowness of the system the past couple of hours. We have just made a few changes to address this which should remedy the problem, and we have extended the initial bid deadline from 4:00 PM to 6:00 PM to make sure all initial bids from late bidders get in. We apologize for any inconvenience, but we are up and running.

Sincerely,

Robert Edward Auctions

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Posted By: leon

Might want to take another look. As of 4:45pm CST I can't get into to see my bids, lot prices, or any particular lot. I do see the front page but no pics. Others might be having the same issues. It could be a very, very busy phone night/morning/afternoon/night.....good luck guys....great stuff....wish I could see it and bid online.....I am sure us die hard folks will bid regardless....does make it a little more painful though....keep us updated if you can..regards

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Posted By: barrysloate

Leon- I can't get on the site at all. Anything I look for produces a blank screen. I hope Rob is reading this and understands the site isn't working at all.

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Posted By: Robert Edward Auctions

We took the site down for a few minutes for maintenance. Sorry for the inconvenience but we are doing this to speed up the system.

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Posted By: Texas Ted

Think I will take a nap now, but I hope the they let us know when the site is back up so I don't wear out my finger hitting the reload thingie.

Texas Ted
Starting my third attempt at a second childhood.

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Posted By: Jay Miller

Wow! I bet the consignors are pulling their hair out. I just tried to get to the site and I can't see my bids. I suggest the auction get extended till tomorrow and give the people a chance to get the site working completely, not half ass.

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Posted By: Jay Miller

I think I've figured out the concept behind Honest Auto Bid--No one ever knows your bid because you can't ever submit it.

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Posted By: Robert Edward Auctions

We are taking bids fine. Several operators are waiting for calls and have nothing to do. If you need any help, give us a call. We will be able to help!

Sincerely,

Robert Edward Auctions

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Posted By: andy becker

i thought the auction would have ended...as it took at least 15 minutes to bid on anything
that's half joke, half wishful thinking

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Posted By: Eric Pugh

In spite of the small challenges today - there does not appear to be a better auction around. Keep up the honest auctions Robert and you'll get all my auction business!

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Posted By: Robert Edward Auctions

Thanks for the kind words Eric. I know the system was slow for a couple of hours but everyone got their bids in and we're moving fast now, even taking call-backs already. Everyone with any problem has been helped and we're actually eating right now (big orders of Chinese and Indian food), because all is working so well. We've got new servers on our shopping list now but everything is running smoothly and every lot will sell the person who wants to pay the most. Very sorry for the delays experienced and the fact that occassionally we have taken the site down for a miunute here and there (the tech people need to do this every once in a while for system speed). Call if you need any help, we're here to help, and good luck in the auction!

Sincerely,

Robert Edward Auctions

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Posted By: Dave H

I was hoping to bid, but think i signed up too late and haven't been approved yet.

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Posted By: barry sloate

Yes, it's working much better now- a tad slow but no problems otherwise.

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Posted By: Jim Clarke

Just tried to bid after waiting 5 minutes to pull up my lots. The page told me it could not be found? I'll give it a try one more time... If not... Good Night REA

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Posted By: Hal Lewis

Frustrating.

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Posted By: painthistorian

Even with the problems with tonight's REA auction site being slow or not able to access properly, Robert and his crew were professional, caring and still offer so much quality compared to any trade show out there..It is great to see that Robert after 30 years in the hobby gets the respect and admiration he deserves..