Legendary Auctions Does it Right !

insidethewrapper · #1 05-26-2010, 09:24 AM

The 30-minute rule is great . I was able to go to bed at 11:30pm
EDT ( 10:30 Central) because the lot closed at this time due to no bids for 30 minutes. I didn't have to stay up all night because someone bids on another "lot". I wish all auctions would be conducted this way. thanks

Rob D. · #2 05-26-2010, 09:30 AM

Quote:

Originally Posted by insidethewrapper

The 30-minute rule is great . I was able to go to bed at 11:30pm
EDT ( 10:30 Central) because the lot closed at this time due to no bids for 30 minutes. I didn't have to stay up all night because someone bids on another "lot". I wish all auctions would be conducted this way. thanks

I think many bidders share your view. Consignors, maybe not so much. Every auction has two sides to it. (Sometimes three.)

Jim VB · #3 05-26-2010, 09:32 AM

As a buyer, there is no doubt the way you describe is preferable.

As a consigner, not so much.

Auctions houses should, and for the most part, do, cater to consigners. If they don't, their supply dries up and moves elsewhere.

(Edited to add: As a professional, Rob D types faster than I do. Plus that time zone thing!)

Orioles1954 · #4 05-26-2010, 10:05 AM

Legendary and others who follow this popular "ending policy" have Huggins and Scott to thank for implementing it. By the way, we have an auction ending tonight and tomorrow too

Rob D. · #5 05-26-2010, 10:15 AM

Quote:

Originally Posted by Orioles1954

Legendary and others who follow this popular "ending policy" have Huggins and Scott to thank for implementing it. By the way, we have an auction ending tonight and tomorrow too

I'm sure most collectors, when clicking with their mouse to place a bid, say a silent "thank you" to H&S.

Orioles1954 · #6 05-26-2010, 10:21 AM

Quote:

Originally Posted by Rob D.

I'm sure most collectors, when clicking with their mouse to place a bid, say a silent "thank you" to H&S.

They do, they do, they do

perezfan · #7 05-26-2010, 10:19 AM

As a consignor, I was indeed disappointed.

I also don't understand why these auctions are all clustered together like this. Can they not make a simple phone call to their counterparts, to try to space these things apart? You can go several weeks with no auctions closing, and then 4-5 auctions will close over the same couple of nights. This has to impact their prices realized in a negative way.

Matt · #8 05-26-2010, 10:31 AM

Quote:

Originally Posted by perezfan

As a consignor, I was indeed disappointed.

No doubt, they did not realize strong prices on many lots last night.
November 2009, $1303:

Last Night, $830:

Bicem · #9 05-26-2010, 10:38 AM

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

oldjudge · #10 05-26-2010, 11:16 AM

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

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