Consignment/Auction House Question

[sb1]

I am not sure you are aware of the bidders in the deep end of the pool, they don't frequent Ebay or PWCC or Probstein. Nor do they pay sellers commissions.

[Yoda]

I believe when it is really tough times in the hobby, Goldin and others like him will suffer. Economics will rule.

[hcv123]

Advantages of private consignment:

1) Significantly lower commissions 7.5%-10% all in (for items valued over $1K)

2) Price control - If I can't sell it for a price we agree to, it doesn't sell "to the highest bidder". I bring any bona fide offer to you for your consideration and ultimate ability to say yes or no.


I have plenty of references from previous "happy consignors".

My email is hcv123@att.net
My phone# is 516-991-5535

I invite you to reach out to discuss further details.

[anchorednw]

Funny enough, I had planned to send in something smaller to REA soon, but was dragging my feet as I was wrestling with selling a larger quantity and quite sure REA wasn't going to be the place.

The Sales Rep that I had worked with on a sale previously reached out and wanted to know why I hadn't sent anything in yet. I told him my concerns and that I was shopping around. He then proceeded to tell me REA was the way to go and what my concerns. were.

I told him about how my most recent consignment was buried amongst a sea of identical items with no warning. Plus, my agreed upon hammer price with one of their direct and closer competition.

He politely, in so many words, told me to have a nice *#%@ day!

I will NEVER consign material with REA ever again due to the obvious above-mentioned concerns and his lack of f***s given.

[etsmith]

You also have to consider that the largest auction houses may be in collusion with each other, we've seen it before.

Edw@rd Sm.ith

[raulus]

Originally Posted by etsmith

You also have to consider that the largest auction houses may be in collusion with each other, we've seen it before.

I guess that’s a possibility! At the same time, they seem to compete pretty fiercely against each other, so I have a hard time imagining them really colluding together.

But if collusion were occurring, it would also seem like a great opportunity for a smaller upstart to take market share. Or a new entrant to do it.

Of course, there are some decent barriers to entry that limit the ability of a new competitor to just start a new auction house and have it take off. The new operator would have to really want it, and would need to have a good chunk of change to finance the ramp up.

[Leon]

+1 AH's don't collude with each other.

Originally Posted by raulus

I guess that’s a possibility! At the same time, they seem to compete pretty fiercely against each other, so I have a hard time imagining them really colluding together.

But if collusion were occurring, it would also seem like a great opportunity for a smaller upstart to take market share. Or a new entrant to do it.

Of course, there are some decent barriers to entry that limit the ability of a new competitor to just start a new auction house and have it take off. The new operator would have to really want it, and would need to have a good chunk of change to finance the ramp up.

[Aquarian Sports Cards]

Originally Posted by Leon

+1 AH's don't collude with each other.

I don't know of any collusion among AH's in our hobby, but Christie's and Sotheby's were successfully sued for collusion to inflate consignor rates years ago. They got caught because consignors who were used to playing one against the other suddenly got stonewalled at the same rate by both companies.

[parkplace33]

Originally Posted by anchorednw

Funny enough, I had planned to send in something smaller to REA soon, but was dragging my feet as I was wrestling with selling a larger quantity and quite sure REA wasn't going to be the place.

The Sales Rep that I had worked with on a sale previously reached out and wanted to know why I hadn't sent anything in yet. I told him my concerns and that I was shopping around. He then proceeded to tell me REA was the way to go and what my concerns. were.

I told him about how my most recent consignment was buried amongst a sea of identical items with no warning. Plus, my agreed upon hammer price with one of their direct and closer competition.

He politely, in so many words, told me to have a nice *#%@ day!

I will NEVER consign material with REA ever again due to the obvious above-mentioned concerns and his lack of f***s given.

You will see more and more of this in 2024. Many of the same card being sold in auction. T206 Cobbs come to mind.

[Snowman]

Originally Posted by sb1

I am not sure you are aware of the bidders in the deep end of the pool, they don't frequent Ebay or PWCC or Probstein. Nor do they pay sellers commissions.

They will go to wherever the cards are listed. Countless high end deals are done in-person from BST listings here and from eBay postings that are worked out offline and at card shows. The only reason the high-end auction houses have a stranglehold on those cards is because we let them. But it doesn't have to be that way.

[icurnmedic]

Originally Posted by Snowman

They will go to wherever the cards are listed. Countless high end deals are done in-person from BST listings here and from eBay postings that are worked out offline and at card shows. The only reason the high-end auction houses have a stranglehold on those cards is because we let them. But it doesn't have to be that way.

Personally on the mid tier items( $500-$10000) I find that I do better buying at auction houses than I do at eBay.
And I agree, there are many high end items that sell for good money on eBay , when the "juice and or seller fees " are factored in.

That being said, not sure I would risk a $100k card to eBay. Just not sure.

[Snapolit1]

I would not list a high end card on eBay and would be very hesitant to buy one there too. I’ve had too many shenanigans on eBay selling $50 cards. Too much anonymity.

Had an AH reach out to me a few years ago and tell me that the item I bought nearly a year earlier was a fake and how would I like to be reimbursed. Chances of that happening on eBay is exactly zero.

[oldjudge]

Everyone has their own views on this; here are mine.

1. If you have a unique, important item consign it to the auction house that will have the most people see it. That means one of the big ones with a fancy catalog and a huge mailing list.
2. If you have good items but ones that will already be plentiful in the big auction catalogs consign it to a still solid but smaller auction house. Why add another mid-grade Aaron rookie to a catalog that will probably already have ten?
3. Consign lower value items to smaller auction houses, perhaps even those without catalogs. They will have smaller bidding pools but be realistic--small items are not worth the big boys time and you will not get the best service for these.The owners of these small auctions consign their own cards to the big auctions which should tell you all you need to know.
4. For good or great items not only should you not be paying a seller's premium, you should be getting back a portion if the buyer's premium. How much? That depends on what you have and the deal you can negotiate.
5. Read the contracts the auction houses send and if there are clauses you find troublesome try to get them eliminated. Those contracts are starting points, those words are not carved in stone.
6. Find an auction house whose staff you like and trust. Ask yourself, if my consignment is lost or damaged do I think the auction house will compensate me fairly. This last item pares the list down quite a bit for me.

[Musashi]

Originally Posted by oldjudge

Everyone has their own views on this; here are mine.


3. Consign lower value items to smaller auction houses, perhaps even those without catalogs. They will have smaller bidding pools but be realistic--small items are not worth the big boys time and you will not get the best service for these.The owners of these small auctions consign their own cards to the big auctions which should tell you all you need to know.

As a part owner of a small auction house, I would never consign to another auction house, and would be shocked to find that others do. Nothing against bigger auction houses, I shop at other auction houses all the time (can't bid in your own auction for a number of reasons both obvious and obscure), but why would I expect anyone to consign good cards to my company, if I'm sending items from my personal collection somewhere else?

[Rhotchkiss]

Originally Posted by oldjudge

Everyone has their own views on this; here are mine.

1. If you have a unique, important item consign it to the auction house that will have the most people see it. That means one of the big ones with a fancy catalog and a huge mailing list.
2. If you have good items but ones that will already be plentiful in the big auction catalogs consign it to a still solid but smaller auction house. Why add another mid-grade Aaron rookie to a catalog that will probably already have ten?
3. Consign lower value items to smaller auction houses, perhaps even those without catalogs. They will have smaller bidding pools but be realistic--small items are not worth the big boys time and you will not get the best service for these.The owners of these small auctions consign their own cards to the big auctions which should tell you all you need to know.
4. For good or great items not only should you not be paying a seller's premium, you should be getting back a portion if the buyer's premium. How much? That depends on what you have and the deal you can negotiate.
5. Read the contracts the auction houses send and if there are clauses you find troublesome try to get them eliminated. Those contracts are starting points, those words are not carved in stone.
6. Find an auction house whose staff you like and trust. Ask yourself, if my consignment is lost or damaged do I think the auction house will compensate me fairly. This last item pares the list down quite a bit for me.

I agree with this 100%.

Brian, I am surprised by your interaction with REA. In my experience, there are few AHs (hell, companies) better at customer service.

I would never sell privately on eBay. That place is dogshit. eBay was once the greatest venue on earth. Now, for me, it’s the venue of last resort for buying and zero resort for selling. Also, there are non-eBay auction houses that I do not buy from and/or look at

[YazFenway08]

I really have to echo what Rhotchkiss said...

I am nowhere near the level as buyer OR seller as many on this Board, but REA has always gone above and beyond in terms of service for me. Responsive, fair, patient...

This holds true for Scott and Collector Connection as well...Buying from Love of the Game and Brockleman has also always been pleasant so I bet consigning would be as well

ebay still works for me as a buyer of modern stuff and some graded cards from reputable places...but almost every selling experience, even with modern "junk" has just been a hassle.

that's my view from the cheap seats...

[Rhotchkiss]

Originally Posted by oldjudge

Everyone has their own views on this; here are mine.
6. Find an auction house whose staff you like and trust. Ask yourself, if my consignment is lost or damaged do I think the auction house will compensate me fairly. This last item pares the list down quite a bit for me.

Funny to see this, now, given the memory lane theft. Memory Lane paid me out 100%, long before they ever got the cards back (not sure they even have the cards yet). And, I went with them almost entirely because I trusted Joe T, a good friend, to take great care of my consignment, which he and the rest of the ML team did.