REA: What Did You Win?

GregMitch34 · #1 05-01-2016, 02:17 PM

Amazing to me how many people even here complain about paying 15% or 20% "premium" or "extra" in an auction. As you know, just means, in most cases, that the hammer price was 15% or 20% lower.

Peter_Spaeth · #2 05-01-2016, 02:18 PM

Quote:

Originally Posted by GregMitch34

Amazing to me how many people even here complain about paying 15% or 20% "premium" or "extra" in an auction. As you know, just means, in most cases, that the hammer price was 15% or 20% lower.

I know. It's incomprehensible to me.

clydepepper · #3 05-01-2016, 04:55 PM

Quote:

Originally Posted by Peter_Spaeth

I know. It's incomprehensible to me.

Peter & Greg- I make my adjusted ceiling price with the premium added in - I'm never surprised by it, just disappointed it keeps me from landing some cards I want:

Example from this REA auction:

I already have a N28 Ward & a N162 Kelly, but I was looking to upgrade as I prefer all my cards to be in at least EX grade (my Ward is a PSA-4 and Kelly SGC-40).

I got the REA Ward SGC-80 for $60 less than I had figured to spend, but the PSA-5 Kelly went above my limit of 4250 + 850= 5100. The hammer price at 5K to become 6K altogether, which was $900 more than I was willing to go...and I thought I would be overpaying at that.

Again, I was fully prepared for the premium, it just keeps me from getting my upgrade.

If the same card had shown up on Ebay, I may have been able to afford it...of course the other side of the argument is that since nobody would be paying the premium, they could all spend more and the same final price may very well be the result.

Perhaps I would have considered laying out more if this was not just an upgrade situation.

-Raymond

Snapolit1 · #4 05-01-2016, 02:20 PM

Sometimes it means you paid market price, including the premium. And sometimes it means you paid the market price and then paid 20% extra. Could mean either one depending on how informed the bidding was how efficient the market worked.

Peter_Spaeth · #5 05-01-2016, 02:32 PM

Quote:

Originally Posted by Snapolit1

Sometimes it means you paid market price, including the premium. And sometimes it means you paid the market price and then paid 20% extra. Could mean either one depending on how informed the bidding was how efficient the market worked.

For any item I would care about, I am guessing virtually every bidder understands a premium is going to be added at the end, and bids accordingly.

Snapolit1 · #6 05-01-2016, 02:43 PM

I'm not so sure that doesn't get lost many times in the heat of the moment. I'll confess I've lost track of it on occasion.

Bidding is a competition. Sometimes you just dig in and decide you're not going to lose. I've seen people overpay dramatically for houses simply because they were tired of losing and decided this time they sure as hell were going to win.

Peter_Spaeth · #7 05-01-2016, 02:44 PM

Quote:

Originally Posted by Snapolit1

I'm not so sure that doesn't get lost many times in the heat of the moment. I'll confess I've lost track of it on occasion.

Bidding is a competition. Sometimes you just dig in and decide you're not going to lose. I've seen people overpay dramatically for houses simply because they were tired of losing and decided this time they sure as hell were going to win.

People overpaying is a completely different issue than the premium. Been there done that and will again I am sure. But I have no idea how anyone who bids regularly in auctions can forget about the premium, but whatever.

ullmandds · #8 05-01-2016, 03:07 PM

Quote:

Originally Posted by Peter_Spaeth

People overpaying is a completely different issue than the premium. Been there done that and will again I am sure. But I have no idea how anyone who bids regularly in auctions can forget about the premium, but whatever.

I don't necessarily "forget" about the buyers premium so much as underestimate it!!!!

Something about the big auctions...especially REA that gets me to overpay!!!!

Peter_Spaeth · #9 05-01-2016, 03:08 PM

Quote:

Originally Posted by ullmandds

I don't necessarily "forget" about the buyers premium so much as underestimate it!!!!

Something about the big auctions...especially REA that gets me to overpay!!!!

You are the exception that proves most rules.

Snapolit1 · #10 05-01-2016, 02:44 PM

I think there is a good reason why certain AH's don't show you what the bid looks like with premium until the invoice arrives.

Peter_Spaeth · #11 05-01-2016, 02:48 PM

Quote:

Originally Posted by Snapolit1

I think there is a good reason why certain AH's don't show you what the bid looks like with premium until the invoice arrives.

Heritage computes it for you and they get phenomenal prices.

mybuddyinc · #12 05-01-2016, 03:41 PM

Won Lot 426 --- 139 T206s.

Of the only 24 cards listed and shown, really only need this fellow

elbW.jpg

Going to be FUN opening and seeing what the other

115 cards look like. Decent (good) price, and it'll keep off the streets for a while .......

Great stuff, Scott

Steve D · #13 05-01-2016, 08:02 PM

I still have a perfect record with REA..........0-fer

I was hoping to get the N172 Mickey Welch, but ended up not being able to go for it.

Steve

bcbgcbrcb · #14 05-01-2016, 02:49 PM

I thought that the Rube Foster cabinet photo went for a healthy price given the state of the Negro League market these days. Also, thought that the '52 Xalapa team photo w/Dihigo & Buck Leonard was quite a bargain for someone......