New to auction houses - REA auction, low bids?

[Belfast1933]

I have only successfully bought one at a major AH and I’m wondering if low bud prices this morning mean much - I believe the REA auction ends tonight.

I think the maneuver I’ve ready by some here is to simply put in a low bud early and that gives you the option to bid actively during extended bidding into the late evening…. Does that make sense?

And should I make much of cards that are priced quite low on Sunday morning of the last day of bidding?

Thx for any experienced advice.

Jeff

[chriskim]

Originally Posted by Belfast1933

I have only successfully bought one at a major AH and I’m wondering if low bud prices this morning mean much - I believe the REA auction ends tonight.

I think the maneuver I’ve ready by some here is to simply put in a low bud early and that gives you the option to bid actively during extended bidding into the late evening…. Does that make sense?

And should I make much of cards that are priced quite low on Sunday morning of the last day of bidding?

Thx for any experienced advice.

Jeff

yes, it makes sense, placed your initial bid so u can bid in extended hrs. Real bids happen during extended period. Good Luck.

[ClementeFanOh]

Hi Jeff- I've been an REA member for many years. Of the venues I've used,
none can compare in terms of the "sharks to blood" mentality of the bidders
(I'm one of them, I should know). If there is an item/items you like and the bid
seems shockingly low, it's almost certainly too good to be true. My advice
would be to avoid the notion that you can swing a "steal" on REA- bid strong!

Good luck my friend, Trent King

[jamest206]

I would say focus on one card. As stated above, the sharks will come out. I do like REA, but the notion of an incredible deal is tough. I have gotten what I considered to be a deal once. Like stated above, the real bidding starts once the clock closes on initial bids. Bidding is no different than poker, and you don’t want to show your whole hand at the start.

[ullmandds]

Time will tell… I agree a lot of prices seem low at the moment. But based on the past I would assume that most desirable items will pick up today… and into extended meaning.

[drcy]

You only know about pricing when the auction is ended. Patterns before vary greatly.

[ullmandds]

Additionally there does appear to be fatigue setting in in the hobby in many areas. I mean the constant barrage of auctions is insane… in addition to the economy likely catching up to some degree.

[chadeast]

Originally Posted by Belfast1933

And should I make much of cards that are priced quite low on Sunday morning of the last day of bidding?

Thx for any experienced advice.

Jeff

It means nothing. Even if the price seems low at midnight tonight, it still means nothing. There is always plenty of last minute action. You could maybe get lucky on more obscure issues, but I wouldn't count on getting deal at REA, especially this year.

[puckpaul]

I dont think any “strategy” works. Nothing i really want goes cheap. Even when i decide I am going to overpay, i quickly must decide how much more i am willing to “overpay”!

[Casey2296]

Originally Posted by puckpaul

I dont think any “strategy” works. Nothing i really want goes cheap. Even when i decide I am going to overpay, i quickly must decide how much more i am willing to “overpay”!

Right? It goes from here's a dozen great cards on my wish list to "okay, these are 4 I really want", to "just give me a chance on these two", to a Sophie's choice" between those two and how much are you willing to overpay for one card.

[Leon]

Originally Posted by Casey2296

Right? It goes from here's a dozen great cards on my wish list to "okay, these are 4 I really want", to "just give me a chance on these two", to a Sophie's choice" between those two and how much are you willing to overpay for one card.

Yeah, a lot of us know that feeling. I will be whittling down soon.
.

[ullmandds]

we're closed! Atleast my lots are!

[Jewish-collector]

Originally Posted by puckpaul

I dont think any “strategy” works. Nothing i really want goes cheap. Even when i decide I am going to overpay, i quickly must decide how much more i am willing to “overpay”!

Just add another zero before the decimal

[puckpaul]

I mean, I was interested in the N162s. Great cards, but several are not HOFs. The Dunlap is in an old SGC 3 which looks to have paper loss (description is sorely lacking), these are traded between $500 and $1200 except for a PSA 6 which went for $4k. I pushed my bid to 1500 total. Its already at $2700 now.

[Belfast1933]

Originally Posted by Belfast1933

I have only successfully bought one at a major AH and I’m wondering if low bud prices this morning mean much - I believe the REA auction ends tonight.

I think the maneuver I’ve ready by some here is to simply put in a low bud early and that gives you the option to bid actively during extended bidding into the late evening…. Does that make sense?

And should I make much of cards that are priced quite low on Sunday morning of the last day of bidding?

Thx for any experienced advice.

Jeff

As the original poster (sp?) let me first offer my thanks to all for your experienced advice.

I ended up with 3 "wins" - 1 that I really like, 1 that is fine and the 3rd is... why did a bid on that??

the one item I really wanted was completely unknown to me but just looked really cool (Red Sox opening day program, 1934 with the "New Fenway Park". If anyone here picked that up and are having regrets, call me!

Jeff

[riggs336]

Maybe I was just due for some luck, but the three cards I won all closed at prices significantly below what I was willing to pay.

[packs]

I won two items that I’d placed bids on before extended time started. They held and I’m happy.

[Snapolit1]

Originally Posted by riggs336

Maybe I was just due for some luck, but the three cards I won all closed at prices significantly below what I was willing to pay.

Auction fatigue big time. Particularly for the ones that are nothing amazing but same old.

[chadeast]

Originally Posted by Snapolit1

Auction fatigue big time. Particularly for the ones that are nothing amazing but same old.

Does this mean that you're seeing prices dropping for pre-war? If so, I must be going after the wrong cards

[raulus]

Originally Posted by chadeast

Does this mean that you're seeing prices dropping for pre-war? If so, I must be going after the wrong cards

I think we're just accustomed to the high prices now, so they don't seem as high anymore.

[Snapolit1]

Originally Posted by chadeast

Does this mean that you're seeing prices dropping for pre-war? If so, I must be going after the wrong cards

Many prewar cars have retreated in the last 6-9 months. Not all of course. And the high end ones people talk about about the most (Ruth, Cobb, Jackson) are typically the cards that haven't dropped, but are not rising like they were a year ago. That's what I see.

[Pat R]

Originally Posted by Snapolit1

Auction fatigue big time. Particularly for the ones that are nothing amazing but same old.

Auction fatigue could be one reason but there are other reasons too. I bid on 24 lots when the auction opened and all 24 were probably what you would consider "nothing amazing" I only bid on 3 (won 2) of those lots last night but I would have bid on at least 6-8 more based on the prices they were at if I hadn't already spent as much as I have in the past few weeks.

[packs]

How about some wins?

Bought one of these before they get out of reach:



And I also won this cool LA train ticket featuring a colorized photo of Babe Ruth in his Dodgers coaching uniform. The advertisement is to "meet the Babe" while he's in LA. Coincidentally, the Babe's appearance dates are listed as August 28 to 31, 1947. Less than one year later, Babe Ruth would die on August 16, 1948: