Problem with REA

[ALBB]

I have commented numerous times how I am amazed at how many romanticize auctions and consigning to them. For every lot that achieves a record price, I suspect there are 50-100+ that sell at or below "market". How a company positions and describes the lot is such a critical part of the process. I have consigned items probably about 2 dozen times to different houses - the only times I have been impressed with the results were when the items were positioned and described well. The big houses today imo are like the equivalent of baseball card puppy mills - just pushing as much product through as possible with little regard for all but the "Morehouse Ruth's", Wagners, Planks, etc.
Part of the market softness in the places where it is soft is due in part to the fact that during Covid all the larger auction houses (and many of the smaller ones) increased dramatically the number of auctions they were running.
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this is reason Im very uncomfortable putting my stuff in a major auction..

[parkplace33]

Originally Posted by ALBB

I have commented numerous times how I am amazed at how many romanticize auctions and consigning to them. For every lot that achieves a record price, I suspect there are 50-100+ that sell at or below "market". How a company positions and describes the lot is such a critical part of the process. I have consigned items probably about 2 dozen times to different houses - the only times I have been impressed with the results were when the items were positioned and described well. The big houses today imo are like the equivalent of baseball card puppy mills - just pushing as much product through as possible with little regard for all but the "Morehouse Ruth's", Wagners, Planks, etc.
Part of the market softness in the places where it is soft is due in part to the fact that during Covid all the larger auction houses (and many of the smaller ones) increased dramatically the number of auctions they were running.
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this is reason Im very uncomfortable putting my stuff in a major auction..

Totally agree with you. I will also say that at least 25 percent of items (maybe more) of items that I see in major auction listing should not be in there. I am shocked more items are not sold privately.

[raulus]

Originally Posted by parkplace33

Totally agree with you. I will also say that at least 25 percent of items (maybe more) of items that I see in major auction listing should not be in there. I am shocked more items are not sold privately.

I'm guessing most of those consignors don't really know any differently.

Or they have dreams of setting the next world record at auction!

[samosa4u]

Originally Posted by ALBB

I have commented numerous times how I am amazed at how many romanticize auctions and consigning to them. For every lot that achieves a record price, I suspect there are 50-100+ that sell at or below "market". How a company positions and describes the lot is such a critical part of the process. I have consigned items probably about 2 dozen times to different houses - the only times I have been impressed with the results were when the items were positioned and described well. The big houses today imo are like the equivalent of baseball card puppy mills - just pushing as much product through as possible with little regard for all but the "Morehouse Ruth's", Wagners, Planks, etc.
Part of the market softness in the places where it is soft is due in part to the fact that during Covid all the larger auction houses (and many of the smaller ones) increased dramatically the number of auctions they were running.
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this is reason Im very uncomfortable putting my stuff in a major auction..

We can't blame the auction houses here.

Since the bubble burst in 2021, all the people who got into the hobby with the intention of making a quick buck have been dumping at an alarming rate. And this is what has led to numerous auctions and disappointing sales.

[Snapolit1]

If you've purchased something in the last 3-4 years, the chances of consigning to an auction and turning a profit are pretty unlikely for most items. You paid more for it than anyone else wanted to pay, and now need to gross 20% or 24% higher at auction than that just to break even. If you've been holding onto something for much longer, much easier of course to turn a profit.

If a good AH is going to market you special item, like LOTG does, it's totally worth consigning. If they are just going to stick your item on page 241 of their catalog with no write up, why bother. Of course every auction has "filler" which is not going to be actively promoted.

Originally Posted by ALBB

I have commented numerous times how I am amazed at how many romanticize auctions and consigning to them. For every lot that achieves a record price, I suspect there are 50-100+ that sell at or below "market". How a company positions and describes the lot is such a critical part of the process. I have consigned items probably about 2 dozen times to different houses - the only times I have been impressed with the results were when the items were positioned and described well. The big houses today imo are like the equivalent of baseball card puppy mills - just pushing as much product through as possible with little regard for all but the "Morehouse Ruth's", Wagners, Planks, etc.
Part of the market softness in the places where it is soft is due in part to the fact that during Covid all the larger auction houses (and many of the smaller ones) increased dramatically the number of auctions they were running.
__________________

this is reason Im very uncomfortable putting my stuff in a major auction..