Legendary Auctions Does it Right !

[Bicem]

$1300 seems pretty high for a PSA 2! Last night's price seems more realistic - great card btw! My fav. Ruth.

[oldjudge]

Their Old Judge prices were quite strong. I believe that their closing method is the best in the industry.

[Jim VB]

Originally Posted by oldjudge

Their Old Judge prices were quite strong. I believe that their closing method is the best in the industry.

Jay,

I agree that from a bidder's point of view, this way is the most convenient. But compared to REA, for example, this way may leave some money on the table.

On a lot I won in REA, I was 100% at my limit. I would not have gone one bid more. Had I been outbid, I would have walked. But I knew exactly which 3 lots I would have moved that money to.

Using the Legendary method, those lots might have already been closed. If that were the case, I would not have spent that money, and consigners somewhere would have been poorer.

[glchen]

The 33 Goudey complete set (239) went for $35K (41,475 including BP) in medium grade, which seems pretty high.

[oldjudge]

Jim--I understand what you are saying. I decide before the auction's last day which lots I will bid on. If I am knocked out on these lots I don't reallocate to others. I just stop. In REA I stay up to the bitter end so, for my purchases, the method of closing does not make a difference. In some other auctions that end at one time I don't bid on lots that I might otherwise bid on if the lots closed individually because I won't leave an up to with them and I won't stay up all night due to the lower-than-REA quality of material. In those auctions the "all lots close together" procedure actually reduces what I spend.

[DaveH]

Matt,
I bought that same Ruth PSA 2 with scratches from an auction in February for $479. Who would pay over $1300 in November and turn around and sell it on CCSA for $479 in February? Yes, that CCSA.

dh

[Matt]

Originally Posted by Dave Haas

Matt,
I bought that same Ruth PSA 2 with scratches from an auction in February for $479. Who would pay over $1300 in November and turn around and sell it on CCSA for $479 in February? Yes, that CCSA.

dh

[Exhibitman]

Originally Posted by Dave Haas

Matt,
Who would pay over $1300 in November and turn around and sell it on CCSA for $479 in February?

dh

If it was a stock I'd say me.

[bobbyw8469]

I agree as well.....no need to stay up ALL freaking night to have West Coasters keep sniping the lots in the wee hours of the morning.....basically, you are telling the bidders to s*** or get off the pot!!! I loved it!!!!

[glynparson]

I know I will never consign to legendary again.

[cbcbcb]

I think the item I won last night would have gone a lot higher if Legendary had the rule that takes bidding into the wee hours of the morning. The signed item I got went for about the same on ebay about 5 months ago, so the consignor must have lost money.

[oldjudge]

I think Legendary ran a good auction. Some items went stronger than one might have expected, some weaker, just like any other auction. The bitching so far could be applied to any auction. Things appear to be now working well at Legendary and they are becoming a significant auction house.

[Rob D.]

Originally Posted by oldjudge

Things appear to be now working well at Legendary and they are becoming a significant auction house.

No one person, no matter how much he or she might wish it to be true, can make a declaration that (insert name here) is "becoming a significant auction house."

The market and hobby will decide that.