Consignment/Auction House Question

Edwolf1963 · #1 12-08-2023, 09:15 AM

Hey Brian, good question. I’m sure you’ll get a lot of feedback from members here, a few random thoughts from my end …

- I’ve used many/most previously (smaller to larger). First thing is I would insist on a zero commission seller fee. If your items are worth what you’ve noted, you should be able to get that from most of them – especially if they are going to rake 12 1/2% to 23% or more off the hammer from the buyers. Some may offer a buyer premium share, or rebate back to you – again, depending on the value of your items and anticipated return. I’d say just like you would in most any other capacity where you’re looking for the best deal on a major purchase, shop around.

- Hard to say definitively whether you would do better at a smaller or larger AH. Obviously so much depends on exposure, timing, other similar items for sale within that AH or other auctions closing in/around the same time frame. Obviously conventional wisdom would say bigger AH - bigger exposure, but if you have one of many for sale within that AH at that particular timeframe, that’s going to dilute any return. If you’re the “bigger fish” in the smaller pond, great .. but if their reach/exposure is smaller, that of course limits return as well. Many of the smaller AHs will have lower buyer premiums which may make them more attractive to you and your potential return.

- If some of your stuff is ungraded, rarer/highly collectible – the larger AHs may submit to one of the grading companies on your behalf and cover the cost – especially if they feel that will gain more confidence, activity, and ultimately a higher price. That’s something I would ask about when you’re considering them/discussing consignment.

- Some members would suggest using Ebay and doing it yourself – largely because of the reach/exposure, no buyer fees and no commission to you beyond your general 10% final value fee. There are several that will list through eBay for you such Probstein, COMC, etc. - I haven’t used them for consignment, so I don’t know what their fees/services entail but they do have a pretty good following and market themselves pretty well.

- Seasonality .. there are so many different variables largely based off economy and the basic rule of economic supply/demand. Generally speaking, I’ve had better luck in the spring given tax season, refund checks, spring training/start of the baseball season and some of the interest/attention on it. “hope springs eternal”, etc. Again, that’s probably more on the perception side than reality – the only time I’ve seen some seasonality price softness is in November/December from time to time, particularly on some things I’ve been following longer-term.

Many of the AH owners/operators are members here on Net54 so they may reach out to you directly via message or email.

Not sure if any of this is already known, redundant, etc .. but I hope it’s helpful. Again, I’m sure other members will be able to offer up some of their thoughts and other suggestions which may also splash more into the fold here.

Sterling Sports Auctions · #2 12-08-2023, 11:54 AM

Hi Brian and anyone else interested in consigning,

I am always available to talk to about potential consignments and if they would be a good fit for Sterling. If not, I am more than willing to recommend an alternative.

If you are looking to consign I would love to hear from you and willing to talk about your consignment. In case anyone is not aware Sterling is a "one man show", if you contact Sterling you are contact me.

Thanks to all who have support Sterling in the past and allowed me to have a job in a hobby I love.

Lee Behrens
320-219-1372

Snapolit1 · #3 12-08-2023, 12:14 PM

Definitely speak with Al. You will get straight talk, not pie in the sky mumbo jumbo, but honest opinions and a fair appraisal of what you have.

There are some real unscrupulous operators in this business. This board will direct you to the right folks.

Personally speaking, I've been shocked at the number of identical cards (different grades) selling lately in recent auctions. 8 of these. 9 of these. 7 of these. Did the AH call the consignors and tell them that the card they were excited to sell is buried on page 127 with 7 other of the same card. Man I would be pissed to find that out for the first time when I receive a catalog 4 months later.

raulus · #4 12-08-2023, 01:18 PM

I suspect that most of us don�t spend much time over on the postwar side of the site, but we recently had a modest discussion about this issue, which you can find here:

https://www.net54baseball.com/showthread.php?t=342743

Madi$on18joshua · #5 12-10-2023, 07:36 PM

Quote:

Originally Posted by Snapolit1

Definitely speak with Al. You will get straight talk, not pie in the sky mumbo jumbo, but honest opinions and a fair appraisal of what you have.

There are some real unscrupulous operators in this business. This board will direct you to the right folks.

Personally speaking, I've been shocked at the number of identical cards (different grades) selling lately in recent auctions. 8 of these. 9 of these. 7 of these. Did the AH call the consignors and tell them that the card they were excited to sell is buried on page 127 with 7 other of the same card. Man I would be pissed to find that out for the first time when I receive a catalog 4 months later.

to your point, a great example is the last REA auction which had a 1915 Cracker Jack Joe Jackson as lot #900 and something! A $50k card buried on page 27.

Curious about which route you take and how happy you are with the outcome of your choice. Even tough I am always adding to my collection @ the same time I seem to be constantly thinking about selling my collection to put in a pool and a outdoor kitchen plus a family trip to climb Mount Kilimanjaro.

It sounds like you have some great stuff that would be wanted. Have you considered using BST, you could give it a shot while you're researching and whatever you sold you'd e getting 100% of it.

GLWS, again let us know where you end ups putting it.

I added a picture of my collection as every post should have a picture!

rand1com · #6 12-10-2023, 08:24 PM

Nice collection. I think you can cover the cost of your projects/vacation pretty easily if you decide to.

Snowman · #7 12-11-2023, 12:54 AM

It amazes me that anyone sends any cards worth less than $25k or so to any of these auction houses when eBay, Probstein, and PWCC are all willing to offer you MUCH lower selling fees AND bring more eyeballs. You're getting absolutely ripped off if you're sending 4-figure cards to places like Goldin, Heritage, Mile High, Lelands, LOTG, and REA. These guys are telling you they don't want your cards/business when they tell you you're not getting ANY of the buyer's premium back, let alone charging a selling commission on top.

This hobby has a serious problem with the rake paid for transactions. I'm blown away that someone hasn't come along and created a seriously competitive platform yet to put all these guys out of business. PWCC had a chance, but they sorta blew it by wasting their money and charging way more than they needed to.

If the company you're considering consigning to employs a sales team, then you're sending your stuff to the wrong place.

Jewish-collector · #8 12-11-2023, 01:30 AM

Remember Travis, it's an unregulated industry.

Aquarian Sports Cards · #9 12-11-2023, 01:56 PM

Quote:

Originally Posted by Snowman

This hobby has a serious problem with the rake paid for transactions. I'm blown away that someone hasn't come along and created a seriously competitive platform yet to put all these guys out of business. PWCC had a chance, but they sorta blew it by wasting their money and charging way more than they needed to.

Go for it. People think auctions are just licenses to print money. They're wrong.

bks14sr · #10 12-11-2023, 03:00 PM

Quote:

Originally Posted by Snapolit1

Definitely speak with Al. You will get straight talk, not pie in the sky mumbo jumbo, but honest opinions and a fair appraisal of what you have.

There are some real unscrupulous operators in this business. This board will direct you to the right folks.

Personally speaking, I've been shocked at the number of identical cards (different grades) selling lately in recent auctions. 8 of these. 9 of these. 7 of these. Did the AH call the consignors and tell them that the card they were excited to sell is buried on page 127 with 7 other of the same card. Man I would be pissed to find that out for the first time when I receive a catalog 4 months later.

I recently consigned in the REA fall auction, and exactly what�s mentioned in your last paragraph happened to me. Very pissed. I consigned my 54 Topps set (w/ Aaron and Banks broken out to a separate lot), 48 Leaf Robinson, 48 Leaf mid grade lot annd SPs, and 50 Bowman Robinson. Each had nearly 10 or more examples in this auction. This was glazed over when I asked prior to consigning of how they deal with similar offerings and whether or not we should hold until the next auction for better placement. Upon auction going live, sure enough, each card is flooded. My 10 lots sold for half to 3/4 of recent prices realized. View counts on my lots over the 3 weeks of the auction were lower than I�d get on BST here in a week. Essentially gave away my 54 Topps set. Expensive lesson to trust REA hype.

Unless you�re selling something that essentially markets itself, like some of the headliners, I see no reason to justify the 20% AH premium.

anchorednw · #11 12-08-2023, 02:59 PM

Quote:

Originally Posted by Edwolf1963

Hey Brian, good question. I�m sure you�ll get a lot of feedback from members here, a few random thoughts from my end �

...Not sure if any of this is already known, redundant, etc .. but I hope it�s helpful. Again, I�m sure other members will be able to offer up some of their thoughts and other suggestions which may also splash more into the fold here.

Appreciate the feedback, insight and well thought response to questions asked. Thank you!

rand1com · #12 12-08-2023, 08:13 PM

Most of the major auction houses have a large following so picking one can be a challenge.

With a $50K value and not a large number of items making up the total, you can certainly negotiate on seller commission. Zero should be no problem. Most tend to shy away from taking away from their 20% or so on the buyer premium on a value of this size but you might find one if you shop around.

The biggest problem I see with the largest houses is that they always have a multitude of the same high profile cards which can hurt all of them.

If there are (5) 1952 Topps Mickey Mantles in grade 5, likely all will wind up in the same ballpark while if there is only (1) it might do better.

There are some very good smaller auction houses that also get a lot of bidders.

But it is hard to rule out Heritage, REA, Lelands, Hunt, Memory Lane, Mile High, and many others.

If you find one you trust and get acceptable seller terms, you will likely do well with any of them IMO.

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