Memory Lane Thoughts and Pickups

[mrreality68]

Hi Everyone

Hope all is well.

The Memory Lane Auction had amazing items. Extended time was Extended to almost 4am Eastern.

I am curious on the thoughts on the Price Results and to see what we picked up

[Schlesinj]

I am probably not the right person to lead off this thread to give a market perspective, but will briefly write my short perspective. I joined this group 5ish years ago to find a place to learn and that was clearly a smart decision. Besides adding knowledge I have met people in the real world and that a conversation for another day. That said, learning more about rare and incredible cards/ collectibles to add to other interest within the hobby was my goal, so wanted to pick up one of the rare T206 backs.

I watched the Southern League Old Mill Brown backs, but ultimately went for and won Willetts Brown Lenox. The SL had far more bidders and was closer to the level I was willing to spend. I very much was interested in the Cuban (since I have a collection tied to the negro leaguers), but ultimately had to choose.

I was leading throughout the day and had a little back and forth while watching the game last night. Frankly fell asleep near midnight and was surprised the other bidder did not make one more bid.

I did bid on a few photos as well but was not really focused. I was able to add a piece that fit my collection that will sit on my office wall along with my baseball art. I have a collection of Yankees related pieces from George Burke, Conlon, Wingfield, so the autographed Burke framed piece with 8 1949 Yankees was right up my alley and will compliment my space/collection.




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[Schlesinj]

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[Schlesinj]

Sorry trying Tapatalk and can only post 1 at a time.


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[jacksons]

Another great auction from ML but was outbid on what I really wanted.

Next time I bid on their auction I’ll ask my wife to prop my eyelids open with toothpicks and run a caffeine IV to my veins. Hard to come away with a win at 3:45am EST.

Originally Posted by mrreality68

Hi Everyone

Hope all is well.

The Memory Lane Auction had amazing items. Extended time was Extended to almost 4am Eastern.

I am curious on the thoughts on the Price Results and to see what we picked up

[brunswickreeves]

The decetly centered 52 Topps Mantle PSA 2 at $46K eclipsed the 12/7 HA sale at $38.4K of same grade.

[jacksons]

Nice, congrats Jamie great piece!

Originally Posted by Schlesinj

Sorry trying Tapatalk and can only post 1 at a time.


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[Leon]

I literally can't stay up that late to bid and won't. And i almost never want to leave up to bids. I guess? it's good for consignors....
I would have bid more on 1 lot but went to sleep.
.
.

[mrreality68]

Yes

Love the Auction items they always have great stuff.

Some extended bids start at 9pm, 11pm etc and some end relatively quickly but the only downside to Memory Lane extended bids starts at 7pm (eastern) and goes almost until the sun comes up.

[Rhotchkiss]

Honestly, I was quite disappointed with the results of my consignments last night, including the Brown Lenox you bought last night Jamie (congrats!). Granted, the market is softer now than this time last year, especially rare back T206s, but I thought the results were less than satisfactory. That said and luckily, my consignments in this auction were immaterial compared to the entirety of my Memory Lane consignment, the total result of which I am very content with.

Last year I decided to sell a huge chunk of my collection and I spoke seriously to 4 auction houses. I was buying a farm and I wanted to pay cash, which impacted my decision. In making my decision, I considered the following factors, in no specific order: (i) amount of cash advance, (ii) amount of buyer's premium I would get, (iii) who did I trust and think would do a good job, and (iv) how much control I had over the phasing of the sales. Regarding (iii), I felt confident in all 4 AHs and have relationships with all 4 -- that's why I spoke with them specifically -- so that factor is relative and nuanced. Ultimately, I (obviously) chose Memory Lane ("ML").

The cards I sold had been acquired between 2016 - 2023, with the average year of acquisition being 2020.

As part of the process, Joe T (formally of ML) and I sat down and we valued every single card, which included a 521 T206 set, complete 1914 CJ and D304 sets, numerous back runs, etc., and we created a spreadsheet that broke each card into high, mid, and low value estimates. 78.5% of the consignment went in the Spring 2024 auction (I had to pay back the substantial cash advance that ML gave), 17.5% was in the Summer 2024 auction, and 4% was in last night's Winter auction. Here are the results, which include the all-in price (hammer + BP):

Auction 1: Final sales price was 104.62% of the mid-value estimate
Auction 2: Final sales price was 92.77% of the mid-value estimate, but 106.6% of the low-value estimate.
Auction 3: Final sales price was 75.5% of the mid-value estimate, and only 85% of the low-value estimate.
Total All Auction: Final sales price was 100.57% of the mid-value estimate

Thus, the overall results were very satisfactory, and the size and outperformance of the first auction was sufficient to offset the underperformance of auctions 2 and 3, which, combined, only represented 21.5% of the total value.

On the whole, I think ML did a good job with the consignment and I am satisfied. The other 3 AHs offered me a larger part of the BP than ML offered, but ML gave me a very healthy advance and I was very comfortable giving ML such a large consignment, which paid off when I was paid, in full and on-time in the first auction despite many of my cards had been stolen at the Best Western. Honestly, I do wonder whether the results of Auctions 2 and 3 would have been better with Joe there -- he left for Goldin a few weeks before Auction 2; we discussed the move and I was fully supportive despite my consignment. But again, the total results were literally 0.57% above the expected estimates, so i cant complain with getting what was expected!

Thanks JP, Leslie and ML gang. You guys did a great job with a major consignment and I really appreciate the time, effort, and results!!

[Snapolit1]

Originally Posted by Leon

I literally can't stay up that late to bid and won't. And i almost never want to leave up to bids. I guess? it's good for consignors....
I would have bid more on 1 lot but went to sleep.
.
.

Ditto. When I learn of a new auction I immediately review their closing procedures. If it’s something that will close all in at 4 am I immediately move on. Just the reality of it.
Work all week ….. not staying up to 4 am. Will be another auction. Or 400 of them.

[GeoPoto]

I rarely stay up past 10 for any reason, so I have very little experience with extended bidding. Got a little thrill when I realized ML was in extended and I was still up. Found it frustrating though that (at least on my phone) the system didn't update the 15-minute clock. Made it constantly look like the auction might end which was too nerve wracking for me. After about 30 minutes of that, I put in a final bid on the only item I was urgently concerned about and went back to watching football. Fortunately, my bid lasted.

With respect to prices, my data says prices were firm and a little bouncy after the steady decline of late. Almost nothing I track (pre-war or vintage) was down with most everything flat or up. Not racing back toward the highs but certainly not declining further.

[carlsonjok]

I tend to swim in a different end of the hobby pool than most folks here, so while I do bid and win at various auction houses, it generally isn't any special or noteworthy.

However, last night was an exception. I won a lot of 4 signed 1961 Fleer cards.



Three of the cards are duplicates to me and commonly available and affordable. The Bobo Newsom, though, is what I wanted due to it's rarity. Newsom died young (age 55) in 1962, so there was a really short window to get this card signed. It is the 73rd signed '61 Fleer in my collection, out of 96 that are theoretically possible.

[MVSNYC]

Jamie, congrats on the Brown Lenox! That's a beast card. You got a good deal on it.

The SL Brown Old Mills went for a lot less than several of us were expecting. They are special cards, incredibly rare, and values will come back up. They represent some great deals right now.

[Bicem]

I won't stay up for auctions either, I would when I was younger (20's / 30's), thought it was kinda fun but not anymore. I won't leave max bids either, not going to sleep not knowing if I won or not.

Any auction that has not evolved to lot by lot as this point is pretty crazy to me.

[B O'Brien]

I was able to land a pair of Piedmont Factory 42 HOFers. I’ve been adding a couple of these HOFer backs to the box. I’ve had a thing for them since finding 15 or so back in the old days.

Once again, I’ll be heading to the BST to help pay for these guys, so any buyers on the listings today will be greatly appreciated!

Happy Sunday to all,
Bob

[raulus]

Luckily, I didn’t have to stay up late to win this one. The competition went to bed early, and my max bid carried the day.

[mrreality68]

Ryan

That is great insight and some good information

Some nice pickups so far by the board

Keep them coming

[ValKehl]

Jeff, as the thread starter, you are obligated to tell us what you won in Memory Lane. Nada for me.

[mrreality68]

Hi Val

Not sure if anyone wants to see my purchase

I was interested in seeing both pickups but also thoughts on it.

I think most pricing was a little soft like all the Goudey Ruth went lighter than past sales

Some rare items like the blue bird side pose went cheap because I believe many people do not realize this is the second pose and more rare so it went cheaper.

I paid up for my win.

[ValKehl]

Jeff, I'd love to see what you won!

[mrreality68]

Against my better advise but several asked but here it is

It goes well with my Asahina Ruth and My Underwood Ruth

[Schlesinj]

That was my second guess. Cant go wrong with a rare Ruth!


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[mrreality68]

Originally Posted by Schlesinj

That was my second guess. Cant go wrong with a rare Ruth!


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Please tell my wife that

[yanksfan09]

So glad you got that Jeff! Definitely one of my favorite Ruth issues! Such a gorgeous image and rare as they come from Ruths first year on the Yanks! A barnstorming piece, it just has it all!

[Casey2296]

Fantastic Ruth card/image Jeff, congratulations on the pick up. Props to your wife also.

[Jewish-collector]

Jeff - Mazel Tov on that fantastic card !!! beer chug.gifbeer chug.gifbeer chug.gifbeer chug.gifbeer chug.gif

[ValKehl]

Jeff, thanks for humoring me - super pickup - congrats!

[ajjohnsonsoxfan]

Ryan love the insights and stats. Glad it all worked out for you. Wonder if you would have got everything out in the first auction if you would have done better overall with the market softening. Was that an option?

[glchen]

Originally Posted by mrreality68

Against my better advise but several asked but here it is

It goes well with my Asahina Ruth and My Underwood Ruth

Awesome pickup, Jeff! That was my favorite card in this auction.

I did win the Blue Bird Side View Ruth. I don't really think it went cheap, and I thought I paid a fair value for it. The Blue Bird's have never been very popular, for whatever reason. Your card is an early Ruth and a unique image. Collectors love that your card is in his first year as a Yankee. I put a placeholder bid on it too, but quickly got overwhelmed. Saying that, I am very happy with this pickup. I missed out on this card ten years ago as the first underbidder when it was available in an REA auction. I've regretted it ever since and was always hoping that I would have another chance at it. So, this was definitely a successful auction for me.

[tkd]

Great cards everyone! Jeff, that Ruth is amazing. Can't go wrong with an early Yankees Ruth!
Gary, great pickup. I really like the Blue Bird Ruth. Especially that hard to find pose. One of the nicer back designs in my opinion.

[joshleon]

Originally Posted by ajjohnsonsoxfan

Ryan love the insights and stats. Glad it all worked out for you. Wonder if you would have got everything out in the first auction if you would have done better overall with the market softening. Was that an option?

Second this, thanks Ryan for the info! Very nice and generous as always to share this. Also wonder if timing was everything here and the market was simply "better" for sellers a year ago.

[mrreality68]

Originally Posted by glchen

Awesome pickup, Jeff! That was my favorite card in this auction.

I did win the Blue Bird Side View Ruth. I don't really think it went cheap, and I thought I paid a fair value for it. The Blue Bird's have never been very popular, for whatever reason. Your card is an early Ruth and a unique image. Collectors love that your card is in his first year as a Yankee. I put a placeholder bid on it too, but quickly got overwhelmed. Saying that, I am very happy with this pickup. I missed out on this card ten years ago as the first underbidder when it was available in an REA auction. I've regretted it ever since and was always hoping that I would have another chance at it. So, this was definitely a successful auction for me.

Wow Love it

Great card and I love this side pose better than the straight away pose version
Congrats

[Rhotchkiss]

Originally Posted by ajjohnsonsoxfan

Wonder if you would have got everything out in the first auction if you would have done better overall with the market softening. Was that an option?

Congrats Jeff and Gary -- great pickups.

AJ -- its a good question. I am not sure, but likely. It was my decision to break the consignment into 3 auctions, and I made that decision because a solid chink of my consignment was back runs (T206 - Tinker, Evers, Speaker; M101 Thorpe; D304 Cobb; E92 Wagner batting, throwing, and Cobb) or subsets -- T206 Brown Old Mills and Brown Lenox. I was afraid it would be too much of the same thing/set/player in one auction to be absorbed. Two things I did not anticipate: (i) Brady Hill flooding the market with rare back T206s, and (ii) the market getting soft. I think both of these factors impacted the later items. But again, no clue what would have happened if they all went into one auction.

Last year, including the ML auction that just ended, I sold a bunch of stuff with a weighted average hold period of 3.8 year, which yielded a blended weighted annual return of 11%. Not bad, I will take that. My private sales, which represented 33% of all sales by value yielded the best returns, followed very closely by the stuff sold in the first ML auction (52%).

[ClementeFanOh]

Congrats to all who won I picked up a 1966 Topps Bob Gibson PSA 8. It features perfect centering, happy as heck to have won. That’s my pickup. Trent King

[glchen]

Originally Posted by mrreality68

Wow Love it

Great card and I love this side pose better than the straight away pose version
Congrats

Thanks, Jeff, Ryan, tkd!

[Bicem]

Nice Ruth card Jeff, I believe that card was on eBay for like a $2500 BIN years ago, missed it by seconds, was in the process of checking out when someone beat me to it.

[Vintageclout]

Originally Posted by glchen

Thanks, Jeff, Ryan, tkd!

Congrats Gary! As an added bonus, that Ruth batting image was originally struck by Charles Conlon in 1920 so it’s a first-year Yankees Bambino pose.

[brad31]

While not prewar I had bid what I think was strong on 1953 Bowman and won nothing. The biggest outlier was the '53 Feller - went for $4891 for a PSA 8.

It was a beauty but I wasn't even close. Last 3 sales $2,250 12.20.24, $2700 previous high 10/29/24, $2240.80 9/13/24.

Every '53 bowman went crazy over VCP.

[Leon]

Originally Posted by Bicem

Nice Ruth card Jeff, I believe that card was on eBay for like a $2500 BIN years ago, missed it by seconds, was in the process of checking out when someone beat me to it.

I think I won that one and sold it to another forum member...If I recall, you and I briefly chatted afterward. I think I hit the button while you were trying to ...
.

[mrreality68]

Originally Posted by Bicem

Nice Ruth card Jeff, I believe that card was on eBay for like a $2500 BIN years ago, missed it by seconds, was in the process of checking out when someone beat me to it.

I guess I missed that BIN as I paid slightly more than that for it.

But this has been a card I have been eyeing for years and hopefully I can get the other card which is of Ruth Pitching

[glchen]

Originally Posted by Vintageclout

Congrats Gary! As an added bonus, that Ruth batting image was originally struck by Charles Conlon in 1920 so it’s a first-year Yankees Bambino pose.

Thanks, Jim! I did not know that as I thought the image was from a later time since Ruth seemed to be his "chunkier" part of life. (I do know that it is the same image from his 1926-29 Exhibits card.)

Originally Posted by mrreality68

I guess I missed that BIN as I paid slightly more than that for it.

But this has been a card I have been eyeing for years and hopefully I can get the other card which is of Ruth Pitching

There was another one of these cards that went for less than $1000, which I passed over because it was laminated. I definitely regret that decision. I think someone from the Board did win that card however. More discussion of that card in this link: Link

[Schlesinj]

Originally Posted by Schlesinj

Sorry trying Tapatalk and can only post 1 at a time.


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Wired money on Monday and in hand today. Both items look even better in person.

[Scott L.]

Incredible pickups all!

Ryan thank you for sharing the info and breakdown on your consgnments. Your posts are always really interesting and informative.

[tjisonline]

Hi Ryan, I didn’t know that about Brady’s t206s

Your cards are top notch / elite. Nothing against Brady (never met him) but from what I seen posted online & in his PSA set registries, anyone with common sense would buy from your collection (instead when possible).

This is just my opinion.

Originally Posted by Rhotchkiss

Congrats Jeff and Gary -- great pickups.

AJ -- its a good question. I am not sure, but likely. It was my decision to break the consignment into 3 auctions, and I made that decision because a solid chink of my consignment was back runs (T206 - Tinker, Evers, Speaker; M101 Thorpe; D304 Cobb; E92 Wagner batting, throwing, and Cobb) or subsets -- T206 Brown Old Mills and Brown Lenox. I was afraid it would be too much of the same thing/set/player in one auction to be absorbed. Two things I did not anticipate: (i) Brady Hill flooding the market with rare back T206s, and (ii) the market getting soft. I think both of these factors impacted the later items. But again, no clue what would have happened if they all went into one auction.

Last year, including the ML auction that just ended, I sold a bunch of stuff with a weighted average hold period of 3.8 year, which yielded a blended weighted annual return of 11%. Not bad, I will take that. My private sales, which represented 33% of all sales by value yielded the best returns, followed very closely by the stuff sold in the first ML auction (52%).

[Kidnapped18]

Looks like the Cornett T206 Collection is up in the new Memory Lane auction!