Why do cards at auction sell for more?

[glchen]

On ebay, many buyers exclude BIN's from their searches. Also with BIN's, many buyers are not sure that they are paying "fair market value" and believe they may be overpaying. With auctions, the buyer believes that they are paying the market price.

[ullmandds]

I agree in that BIN's are typically viewed as overpriced...to the point I never look at them!!!

[triwak]

One word: Alcohol.

[wonkaticket]

While it’s not always the case I can think of two cards recently that sold for way way more in private deals than they ever would have at auction. I can’t really share details but I can tell you it was much much more than an auction would have returned.

I think this happens more than we know but due to the private nature we just don’t know about it. I also will say they have to be significant or tougher cards were not talking run of the mill pre-war etc.

[drcy]

For big auction house auctions, it has always been my idea that there are well monied people who don't have the time or inclination to comb eBay and stick to the big auctions. They may feel the big auctions are more reliable, from authenticity to processing & shipping of a $20,000 order.

[Leon]

Originally Posted by wonkaticket

While it’s not always the case I can think of two cards recently that sold for way way more in private deals than they ever would have at auction. I can’t really share details but I can tell you it was much much more than an auction would have returned.

I think this happens more than we know but due to the private nature we just don’t know about it. I also will say they have to be significant or tougher cards were not talking run of the mill pre-war etc.

First to answer a question above. My initial post was just auctions vs private sales in general. Any ole auction, I wasn't being picky or specific.

As to your comment John. I have lived that scenario many times, buying and selling. But those cards in those private sales probably (mine weren't) weren't listed publicly and not selling before going to auction.

[Bosox Blair]

Originally Posted by glchen

On ebay, many buyers exclude BIN's from their searches. Also with BIN's, many buyers are not sure that they are paying "fair market value" and believe they may be overpaying. With auctions, the buyer believes that they are paying the market price.

This (above) is generally my thought on the question.

I think there are so many bloated BIN prices and ridiculously high asking prices at card shows and card shops that a stigma attaches to private sales in a buyer's mind. I approach every private sale price with a high level of skepticism.

Despite saying and believing this, I have done way more deals on this Board in the last 3 years than I have done BINs on eBay in 15 years...

Still 95%+ of my buying is via auction.

Cheers,
Blair

[Sean]

I agree that there is always the thought that a BIN is overpriced, that is why it hasn't sold yet.

I also think that during an auction we can become emotionally invested in a card ( say a Merkle/ Pirates) and end up bidding more than you planned rather than lose the item at 4 AM.

[Cardboard Junkie]

Big time auctions tend to attract the "Whales", collectors who probably never surf ebay with the "bottom feeders", (like me). The upside, as we all know is that on occasion we score a great "deal". The downside, (for me) is I usually get "creamed" in the big auctions. Dave

[EvilKing00]

An auction should generate a lot more buyers also a low starting price will get more offers.