I have to ask....Legendary photos last night...

[drcy]

I think the prices were all over the place but generally about average for what was offered. Many of the Gehrig photos did well, the 1897 Red photo did well (I predicted 15,000 and it sold for $22,000), but there were bargain lots as with any large offering of news photos. I think the original card photos were undervalued, but that may be a product of the hobby and that they were offered all at once, not the auction house. I thought those were cool.

Overall I though the selection was below average for a big auction house. That some of the lots started at less than $100 min bids says it all. A $50 min bid may be a lot for eBay, but is as low as it gets for a major auction house.

If someone says they got a news photo or group lot at a bargain price, I won't doubt them. If someone says he picked up the Jim Rice group lot at $5 per photo and thinks he can resell them individually on eBay for profit, he may be correct.

To be honest, that's the way auctions went before shilling. Some lots went for good money, some spot on and there were bargains to be had for the keen eye. Even with the big auction houses, in the old days you could find bargains, often group lots and grab bags. When shilling became all the rage, everything across the board went high and there were almost no bargains. This auction is a representative of how real auctions are supposed to look. The popping of a real estate bubble doesn't mean the prices are suppressed, but the prices return to reality.

The best thing a collector of anything can do is to sell, if just occasionally, so he has an idea of what things really sell for. Put up a few items on eBay here and there, now and then, to see what they go for. Consign a few items and sees what you get. Watch how, even when it averages out fine, one item sells for more than you expected while another sells for less. Selling keeps a collector in touch with reality. It also allows him to identify the overpriced and highly suspect, but also what are genuine bargains.

A famous high end art dealer once said in an interview "If you want to become an art dealer, first buy an expensive painting and try to resell it." He was implying that most would learn they should go into a different occupation.