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Latest Kelleher Auction - Unreal Competition!

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Posted 12/03/2021   1:54 pm  Show Profile Bookmark this topic Add rismoney to your friends list Get a Link to this Message
Were the estimates positioned low for this sale to drum up interest? This seems to be a really competitive landscape. I just tuned in and am a bit surprised by the interest levels being so vibrant. Maybe there is a shortage of material priced for resale and people think there is real opportunity here.


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Posted 12/03/2021   3:57 pm  Show Profile Bookmark this reply Add BobInRye to your friends list  Get a Link to this Reply
A large number of the first 50 lots went to a few repeat buyers. Not sure what price impact that has had.
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Posted 12/03/2021   4:10 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
We must be looking at different auctions. With the exception of Lot 2 everything went under, slightly over or at estimate that I can see.

Lot 2 had the following "not a ringing endorsement" description:


Quote:
the overall quality ranges from decent to spacefiller with some items listed possibly not correctly


Not sure why it the bidding went bananas unless two or more viewers saw something really special in it. Sounds more like emotions got the better of some folks.
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Posted 12/03/2021   5:45 pm  Show Profile Bookmark this reply Add revcollector to your friends list  Get a Link to this Reply
It would not be the first time that something was missed by the house but spotted by the buyers.
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Posted 12/03/2021   5:46 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
That is for sure Rev.
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Posted 12/03/2021   7:21 pm  Show Profile Bookmark this reply Add canyoneer to your friends list  Get a Link to this Reply
I assume that the high bidders viewed that material in person. Not likely viewed from online images only?
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Posted 12/03/2021   7:46 pm  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
The question about viewing , if a buyer has been to 4 or 5 previous stamp auctions and has had positive results on his purchases . Then I think they can be more aggressive in their bidding without viewing or traveling to the auction firm .

I found Kelleher fair with the way they price the Worldwide country collections ,it has been my experience at two different firms never to bid or buy without looking at the material because the write ups leaves too much up in the air .
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Posted 12/03/2021   8:27 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
But to find something in a large collection that the House missed you need to view it. No?
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Posted 12/03/2021   8:42 pm  Show Profile Bookmark this reply Add revcollector to your friends list  Get a Link to this Reply
Not really a problem for a lot of dealers.
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Posted 12/03/2021   10:25 pm  Show Profile Check KRelyea's eBay Listings Bookmark this reply Add KRelyea to your friends list  Get a Link to this Reply
I arrived at Kelleher today at 5:05 PM from FL. I thought it was closed but after a more careful look I realized the auction was still in progress but only 2 floor bidders left.

They had no problem letting me view lots and I was the only one viewing but I had 2 staff helping me. I only looked at 3 lots but the one I thought I really wanted I probably won't even bid on and the one I thought might be OK was one of the best lots I've ever seen. To me seeing lots in person is extremely important, but that's just me!
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Posted 12/04/2021   8:11 pm  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
WOW ------Sat thru today's auction on SAN , put in about 30 bids on 8 different lots , got nothing .On only two lots was I the underbidder. Prices just ran away from me .
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Edited by floortrader - 12/04/2021 8:50 pm
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Posted 12/04/2021   9:07 pm  Show Profile Bookmark this reply Add gmot to your friends list  Get a Link to this Reply
Followed much of the auction today, and yes, the bidding was solid overall. In some areas, such as Italy collections, which often can be had for a small % of CV, the winning bids were surprisingly high. Only had a couple lots to bid on, didn't pick up anything.
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Posted 12/04/2021   9:17 pm  Show Profile Check KRelyea's eBay Listings Bookmark this reply Add KRelyea to your friends list  Get a Link to this Reply
I sat through most of it with only 1 other bidder in the room. I looked at a lot of items and based on what I saw I thought the prices were high. Usually I can buy a collection and make a profit by breaking it up but I am doubtful I will make much on the items I bought today.

The collection #636 was one of the nicest I've ever seen, very meticulous with lots of extras. I was underbidder but I was bidding way more than I wanted to. It contained only Europe but still sold for $37,500.
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Posted 12/04/2021   10:09 pm  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Ken ----I went for some of the French Colonies , try to get those better single country collections, as I said above those just took off leaving me behind .

I was surprised how well those sets of Internationals did ,this seens tp brought out the collectors because I can not see how a reseller could turn a profit at those high prices.
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Posted 12/04/2021   10:54 pm  Show Profile Check KRelyea's eBay Listings Bookmark this reply Add KRelyea to your friends list  Get a Link to this Reply
The ones that got me were the big Minkus collection that had been broken down into regional collections. I compared these to the big Minkus collection I bought at the last auction. I thought the one a bought was just a little stronger but the regional Minkus when added together sold for twice what I paid. IMO This is a smart way to sell a big collection but it is tough on my business plan.

I bought 2 of the regional Minkus lots and will soon know how I made out.
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Posted 12/04/2021   10:59 pm  Show Profile Bookmark this reply Add rismoney to your friends list  Get a Link to this Reply
The many EFO lots that were presumably Langs' holdings went through the roof. I expect to see the buyers hitting 5-10x returns by breaking them up into individualblots, even at those prices. EFOs at wholesale prices dont come often. $30k for 3000 stamps is still cheap vs their retail capability. Dont know where they came up with 10-15k estimate, unlessn that was marketing gimick to draw prople in.
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