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Today's Rasdale Auction

 
 
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Posted 05/18/2019   8:23 pm  Show Profile Check revenuecollector's eBay Listings Bookmark this topic Add revenuecollector to your friends list Get a Link to this Message
I sat through it pretty much start to finish. VERY active bidding, with virtually everything meeting or exceeding estimates, and many lots blowing FAR past estimates.

Question for those who have purchased from Rasdale regularly: are they known for consistently setting estimates artificially low?

Different auction houses have different strategies: Some put out estimates that are very low across the board, some are very high across the board (Aldrich, Kelleher, Apfelbaum), some don't give estimates other than actual catalog values (Siegel for the most part). Some post and update opening bids prior to live bidding, others do not (Siegel).

I can see the reasons for doing all of these things (from the auction house's perspective). High estimates could give the appearance of high value. Low estimates could imply that bargains are in the offing.

For knowledgeable buyers, it shouldn't make a difference.

That said, there were any number of lots today that had me scratching my head on how high the results went, seemingly above retail based upon the descriptions, images, and stated catalog values.

Obviously not having seen the lots first hand, there certainly will be value in many lots above and beyond what was stated, but man there seemed to be a lot of them today.
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Posted 05/18/2019   9:01 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Based upon my experience as a consignor to Rasdale twice (should have stopped at once) they turn and burn material. They spend little time actually digging into any given lot other than small lots. Whoever won my lots got stunningly good value because the pics and descriptions sucked. Could I have gotten my material back? Yes. Quite a hassle though. The material had already been with Regency Superior when they were closing there doors and Rasdale contacted me to say that R-S had asked them to step in and help with the situation. It was a mess. I was lucky to have gotten my material back.

On the buying side I have received cartons of material described as miscellaneous from a dealers back room clearout with some pics of Sand Dunes and modern crapola that I bought cheap with a plan to flip it and upon digging in was shocked at what was below the top one inch of each carton. A year or two ago I won four cartons of such material for $350 plus house premium and when all was said and done it cataloged at $70,000. I took everything that I had cataloged and consigned it to another auction house and it realized $10,000 as several large lots.

That is my experience. The consignors that did not know what they had and simply turned it over to Rasdale got the proverbial shaft. I got the gold bars. Of course it is not all the same but someone else that I know has had similar experiences.

All of the drama and games is getting a bit old for me and I am growing tired of it even though I still love collecting. The auction houses, with some exceptions, are always playing both ends and the middle. Finding a truly honest dealer with integrity is a chore although they also do exist. (Rupp comes to mind as very good) eBay is not for me. I used to buy and sell there long ago but it is just such a cesspool. I have no interest in piddling away countless hours to find something that a seller has no clue about. I also do not have the temperament to play stupid games with scamming buyers. Been there and done that. Life is far too short.

That Sir is my 1.5 cents worth and then some.

Cheers
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Posted 05/18/2019   9:39 pm  Show Profile Check docgfd's eBay Listings Bookmark this reply Add docgfd to your friends list  Get a Link to this Reply
I was wondering the same thing about the first installment of the Matthew Bennet sale today. Some of the realizations were so far above estimate it was jaw-dropping, especially China (although we all know why that is).
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Posted 05/19/2019   07:10 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
First question --What happen to that auction lot of a box of 50 packets of Dennison Hinges,it had a opening bid of $250.00 .

Second question --- ROGDCAM ,came you explain or expand on "They turn and burn material ".
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Posted 05/19/2019   07:45 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Floortrader - I could have phrased it much better. My point is that from my personal experience they do not spend a lot of time reviewing material in order to better describe and value it. I think that is why the estimates are unrealistically low.
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Posted 05/19/2019   08:32 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
ROGDCAM ----With 50 years experience and having purchased a few hundred thousands dollars at public stamp auctions and having consign another hundred thousand at stamp auctions .
It is my guess and only a guess with no basis to fact ,this INTERNET TROLL is just throwing out a wild claim
---That stamp auction firms price their own material at the max and have reserves on their own material. But when they get consignments from widows /orphans then they use that as "Throwing a bone to their customers ". That is where you see low estimates and inform their better /regular buyers to have a look .
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Posted 05/19/2019   09:16 am  Show Profile Check revenuecollector's eBay Listings Bookmark this reply Add revenuecollector to your friends list  Get a Link to this Reply

Quote:
First question --What happen to that auction lot of a box of 50 packets of Dennison Hinges,it had a opening bid of $250.00


Prices realized aren't posted yet, and Rasdale's system zeroes everything out rather than showing prices realized, but if memory serves, it was in the neighborhood of $500 + juice.

I really don't like Rasdale's online auction system. It doesn't update prices in real time like SAN does, but more importantly there is no way to bookmark individual lots to keep track of or plan to bid on. You have to either keep a pen and paper list or bookmark the lots on SAN... but you have to do the latter at least 24 hours in advance, as the SAN system locks down and you can no longer bookmark bids since Rasdale uses only their system for the live auction, not their own system + SAN as some other auction houses do.

It's manageable, but clumsy AF.
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Posted 05/19/2019   09:35 am  Show Profile Bookmark this reply Add funcitypapa to your friends list  Get a Link to this Reply
Rodgcam: thanks for your post. Sad commentary. And we wonder why the younger generation has little attraction to this hobby?
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Posted 05/19/2019   10:04 am  Show Profile Check revenuecollector's eBay Listings Bookmark this reply Add revenuecollector to your friends list  Get a Link to this Reply

Quote:
And we wonder why the younger generation has little attraction to this hobby?


I strongly doubt that young people considering collecting stamps as a hobby are factoring in the machinations of auction houses when making that decision.
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Posted 05/19/2019   10:25 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Revenuecollector ----For the experience collectors and dealers that's why a lot of them don't consign to firms that have a limited outreach. I seen that back many years ago when Kelleher was in Boston ,it was the same crowd of bidders at each auction .

Years later when they had the SAN 's program and their EGYPTIAN auction came out up to half their bidders were overseas and a more aggressive bidding due in a large part there was a lot of new customers with SAN.
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Posted 05/19/2019   10:31 am  Show Profile Check docgfd's eBay Listings Bookmark this reply Add docgfd to your friends list  Get a Link to this Reply
Speaking of hinges, get a load of the bidding on supplies in next week's Sparks Auction (love them). Most of the bidding on stamps and collections are just puttering along, with many lots not yet having any bids. Meanwhile, many of the supplies lots have bids meeting or exceeding estimate. Its going to be a wild ride...
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Posted 05/19/2019   11:28 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
docgfd----Have you priced the cost of stamp supplies ......try buying hinges ,mounts ,glassines or albums, prices are much higher over the last few years .
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