Goodwin Auction Has Started

[bcbgcbrcb]

The NC Speaker is a $3,000 card with an opening bid of nearly $2,400 with the juice, that's 80% of the value. That's 3X what the going rates are normally for starting bids in an auction.

[Peter_Spaeth]

Originally Posted by bcbgcbrcb

The NC Speaker is a $3,000 card with an opening bid of nearly $2,400 with the juice, that's 80% of the value. That's 3X what the going rates are normally for starting bids in an auction.

But Phil isn't it sort of an empty ritual to start the card multiples below where it clearly is going to end up such that no early or middle bids could possibly win it anyway? Isn't it cleaner just to start it at what would be a reasonable winning bid?

[calvindog]

Yes, Peter, these auctions are all about transparency!

[bobbyw8469]

As a consignor who has gotten creamed on his stuff, I can totally relate to the topic/disappointment of getting killed on lots....can I ask what auction house it was (did they recently bump their buying comission rate to 19%)?

[Orioles1954]

As a collector, whenever I see a lot with a huge opening bid (as dictated by the consignor) I immediately skip it over and don't even consider it. There's something to be said for a large pool of bidder's battling it out at the beginning. When approached by consignor's who demand huge opening bids, quite often it indicates a lack of confidence in generating interest for their items.

[rhettyeakley]

This is the way that Goodwin's auctions have been for a while (higher opening bids on the more thinly traded/selling sets), there isn't anything wrong with it as it is clear they are doing it at the request of their consignors. That being said, there are several cards in this auction that I could use (lower end items all of them) that aren't really worth the opening bids and if they do sell it's because someone like me needs it for a set, but in their defense, I normally wouldn't have paid that amount for it so they may end up getting more out of me in the long run.
-Rhett