Disappointed consignor

[Leon]

Originally Posted by Snapolit1

Ah, I don't know . . . .I've always assumed the old adage any publicity is good publicity is true in almost all instances.

+1. Say what you want just spell my name correctly!
.

[Mark17]

Goldin Auctions did their job - they got a record bid for a jersey. The fact the seller wanted more isn't their fault. they brought a great item to market and they got a huge bid for it.

I can imagine the conversation:
Consignor: I don't need the money and I want to keep it.
Goldin: Suppose you could get $10 million? Then would you sell?
Consignor: Well, for that kind of cash, I'd be a fool not to, I guess.
Goldin: Let's try. It can't hurt.

[mrreality68]

Originally Posted by Mark17

Goldin Auctions did their job - they got a record bid for a jersey. The fact the seller wanted more isn't their fault. they brought a great item to market and they got a huge bid for it.

I can imagine the conversation:
Consignor: I don't need the money and I want to keep it.
Goldin: Suppose you could get $10 million? Then would you sell?
Consignor: Well, for that kind of cash, I'd be a fool not to, I guess.
Goldin: Let's try. It can't hurt.

+1 agreed.
However doesn’t the Auction House still get some money if it did not meet the reserve. I seem to recall that some auction houses still take 20% from the seller for items with a reserve that do not hit the reserves

[Mark17]

Originally Posted by mrreality68

+1 agreed.
However doesn’t the Auction House still get some money if it did not meet the reserve. I seem to recall that some auction houses still take 20% from the seller for items with a reserve that do not hit the reserves

On a spectacular item like this, or a Wagner, I'm sure everything is negotiable. I think Goldin Auctions was paid in full from the publicity that shirt brought to their auction.

[mrreality68]

Originally Posted by Mark17

On a spectacular item like this, or a Wagner, I'm sure everything is negotiable. I think Goldin Auctions was paid in full from the publicity that shirt brought to their auction.

Very good point.

[robertsmithnocure]

Looks like Goldin sold the same jersey in 2019 for $562,500. That is a nice ROI.

https://goldinauctions.com/mobile/lo..._robinson_game

[chriskim]

Originally Posted by robertsmithnocure

Looks like Goldin sold the same jersey in 2019 for $562,500. That is a nice ROI.

https://goldinauctions.com/mobile/lo..._robinson_game

Oh.. u found it! I know this jersey was familiar but i thought it was by Lelands

[Shoeless Moe]

Originally Posted by robertsmithnocure

Looks like Goldin sold the same jersey in 2019 for $562,500. That is a nice ROI.

https://goldinauctions.com/mobile/lo..._robinson_game

Yah, that seems odd too. Person, or persons, buys it for 562K, flips it less then 3 years later, so obviously they were not buying it as a collector, for their collection, yet they were unhappy turning 562K into 8 million.

Very odd.

[Casey2296]

1st world problems that has nothing to do actual collecting.

[Republicaninmass]

Like the traveling card show museums. Cards are for sale, just not for market price

[Aquarian Sports Cards]

Originally Posted by Mark17

Goldin Auctions did their job - they got a record bid for a jersey. The fact the seller wanted more isn't their fault. they brought a great item to market and they got a huge bid for it.

I can imagine the conversation:
Consignor: I don't need the money and I want to keep it.
Goldin: Suppose you could get $10 million? Then would you sell?
Consignor: Well, for that kind of cash, I'd be a fool not to, I guess.
Goldin: Let's try. It can't hurt.

But since Goldin reserves the right to bid up to but under the reserve, did they REALLY get a high bid?

[Snapolit1]

No idea if this happened, but an AH running an item up knowing they can stop just under the reserve price seems, well, a little problematic.

[Aquarian Sports Cards]

Originally Posted by Snapolit1

No idea if this happened, but an AH running an item up knowing they can stop just under the reserve price seems, well, a little problematic.

There are a couple that give themselves that right in their T&C. Goldin is one of them. As long as it's disclosed it's legal.

[Snapolit1]

Originally Posted by Aquarian Sports Cards

There are a couple that give themselves that right in their T&C. Goldin is one of them. As long as it's disclosed it's legal.

Scott,

Again, hypothetically speaking ….

If an auction house knows what the reserve is, it knows that its bids essentially are a nullity and have no chance of actually winning an item …. there is no ethical issues raised by this?

So an AH could have TWO bidders running something up with full knowledge that neither of them could possibly buy it?

Weird.

[G1911]

What is legal and what is ethical are unrelated.

I will never place a bid with an auction house that gives themselves the right to bid and run the price up, or has been caught doing so. I'm surprised just a little bit that this is still a minority view.

[Aquarian Sports Cards]

Originally Posted by Snapolit1

Scott,

Again, hypothetically speaking ….

If an auction house knows what the reserve is, it knows that its bids essentially are a nullity and have no chance of actually winning an item …. there is no ethical issues raised by this?

So an AH could have TWO bidders running something up with full knowledge that neither of them could possibly buy it?

Weird.

I have learned to stop offering opinions where other companies are concerned. My new hobby is stating facts.

[Shoeless Moe]

Originally Posted by Mark17

Goldin Auctions did their job - they got a record bid for a jersey. The fact the seller wanted more isn't their fault. they brought a great item to market and they got a huge bid for it.

I can imagine the conversation:
Consignor: I don't need the money and I want to keep it.
Goldin: Suppose you could get $10 million? Then would you sell?
Consignor: Well, for that kind of cash, I'd be a fool not to, I guess.
Goldin: Let's try. It can't hurt.

Actually, if they did place that last bid, and who knows how many other bids leading up to that last bid, there is no way of knowing if they did get a record bid.