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General Philatelic/Gen. Discussion : Auction prices

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sheepshanks
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13 Sep 2020
09:02:01am
This weekend I put a bid in on a lot of LMM GB 1924 Scott 187-200. My bid was CA$54.
Needless to say this was passed very quickly even before the auction started. The final price was CA$109.
Now the stamps are currently on retail at a UK dealership for CA $69, so did someone notice an error stamp or flaw or were folks just not familiar with the prices or values.
The stamps were not all well centered but did look fairly clean.
Strange days.
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Brechinite
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Neddie Seagoon from The Telegoons
13 Sep 2020
10:44:16am

Auctions - Approvals
re: Auction prices

Vic:-

All auctions are a mystery. It only takes two bidders and the price goes up and up and up.

I have seen auction lots that I wouldn't pay $10 for go for $100.

I have seen two "friends" come to blows over an auction lot and the number of people go in the huff because they either didn't get a lot or paid too much for a lot.

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sheepshanks
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13 Sep 2020
11:18:04am
re: Auction prices

Ian, to give you a giggle, when we came to Canada in 2003 we started going to public household auctions. At one there was a snowblower and wife and I agreed it would be a good purchase. Come the auction I started bidding and in the crowd it went up to around $300. At this point Lyle, the auctioneer, stopped the bidding and laughing said he couldn't watch a marriage get broken as my wife and I were the two bidders. (we could not see each other)
He then restarted the auction and I finished up paying about 230 for the blower.

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Brechinite
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Neddie Seagoon from The Telegoons
13 Sep 2020
02:56:17pm

Auctions - Approvals
re: Auction prices

Vic, thankfully I've never had that problem. However my wife and I went to an auction, I went to the stamps and she was interested in the furniture. She was interested in a chair for a large teddy bear.

I finished at the stamp auction and went to see her at the furniture section. I asked her if she had got the chair. She didn't buy it because the price was too high. I was gobsmacked when she said "But I've bought a Welsh Dresser and a large blanket chest".

The two items were 10 times the cost of the chair!!

I was relieved that both items she bought were for her shop so the money for them didn't come out of my pocket!

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ScanStamps
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13 Sep 2020
04:07:16pm
re: Auction prices

Auctions are definitely strange beasts.

I think it's all a matter of who's looking at what, where and when.

I remember going to a regional stamp show/bourse in Seattle a a few years back and buying a set of Danish stamps because I was missing ONE of them for my collection... paid what seemed like a fair price for the set, picked out one stamp and "piecemealed" the rest on eBay... for three times what I paid!

So go figure...

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cougar
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13 Sep 2020
06:07:17pm

Auctions
re: Auction prices

It may be a bit irrelevant, but here in Canada our property taxes are based more or less on auction and speculation numbers. I have a property that sold in 2006 for $36,000, then in 2009 for $100,000, then I bought it in 2014 paying $151,000 (the realtor managed to trick me into paying over $15,000 more than my initial bid). Now I am disputing the most recent valuation of $174,400 and the assessment agency tells me the market value now is $210,000. Now keep in mind this is a depreciable asset built of wood, not an Egyptian pyramid.

I will win my appeal, but it makes me wonder where this world is headed in its madness.

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cdj1122
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Silence in the face of adversity is the father of complicity and collusion, the first cousins of conspiracy..
14 Sep 2020
04:30:16am
re: Auction prices

My wife and I loved to go to a regular Saturday evening auction in Florida. At one time during the Savings and Loan Crisis (1988-'89 recession) many people had come to Florida from the Northeast putting much of their worldly possessions into rented storage lockers.
Unable to make a living quite a few moved on, back home to New York or Michigan (somewhere ???) skipping the rental and usually leaving no usable forwarding address.
Since I had just recently moved south myself and had bought a fairly big house we attended and bid freely.
Some of the best buys were in more or less uninspected boxes. Often family treasures that were generally irreplaceable. Things we did not need were usually taken to "Howard's Flea Market" down the street, to a booth run by one of my wife's cousins where most knicknacks sold within a week or three. I usually wound up getting much of my money back.

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".... You may think you understood what you thought I said, but I'm not sure you realize that what you think you heard is not what I thought I meant. .... "
cougar
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15 Sep 2020
05:50:58pm

Auctions
re: Auction prices

I have been having a predicament in recent days.

You know what happens if you get a decent kiloware lot - you may end up with a few copies of the same nice stamp.

You list one auction style and before you know it, its price gets up in the stratosphere.

How can I list my second copy after that.....It looks like it will be unfair to both the winner of the auction of the first copy and the second bidder who will get the second copy at a much much lower price. Confused

Can't think of a cure for this one, other than to store my second and third copies of those stamps away.

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amsd
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Editor, Seal News; contributor, JuicyHeads
15 Sep 2020
06:07:23pm
re: Auction prices

Let markets take it where it goes

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15 Sep 2020
07:29:59pm
re: Auction prices

David is right. The internet has changed the perception of "Scarcity". Ask an old book dealer about what the internet did to first edition pricing when suddenly dozens of copies of previously thought scarce titles showed up..

I posted this a couple of years ago .

"When Ebay was young, perhaps 1997 or 1998 I bought a Byrd Expedition cover from a stack of perhaps 50 identical covers from another dealer for $1. It was a number 10 envelope and all the copies had been torn at the bottom by a rubber band.

It brought $187.50. I sent out a congratulatory note and the response was "Congratulations my xxx - there are only two people in the whole world who want that cover and I am one of them. It is a coal stop on the southbound run and is the first cover from there to turn up in all these years."

The dealer I purchased it from put one of the remaining 49 covers on a couple of months later and it brought $10. "


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