Question On 2 Auction Items From 04082026

So at the Siegel auction 1374 today and these 2 items, Sc479 , Lots 4462 & 4463 came up one after the other: https://auction.siegelauctions.com/...74?PageNo=17


The 1st sold for 2900.00USD & the 2nd for 850USD. Why such a large price difference? Are they not very similar?

Some time later, the 2nd item was re-opened and was then re-sold at 1100USD.

Guessing the auctioneer can re-open any lot they choose?

One is graded 98, the other 95. Realized prices look reasonably close to SMQ. The population of grade 98 is much less than 95.

If a mistake was made or other issue surfaced, if things went as planned they tend to have no reason to reopen.

Interesting that a grade '95" would be described as 'fine.' Normally, auctioneers use fine as an abbreviation for 'have seen much worse, but most are better.'

Apart from visual appeal, the first one knocked out the bidder willing to pay whatever it takes.
I have seen enough auctions where the second of similar items is hammered down for a much lower amount.

Generally, if the lot did not have any floor/internet bidding (passed or sold to a book bidder) the auctioneer can reopen the lot. If the lot sold to a live bidder, it can't be reopened absent extenuating circumstances.

From personal and painful experience bidding live via internet with Siegel, if a floor bidder tells Scott that he/she wants to bid on an already hammered down lot that they "missed" he will do it every time. Remember that with few exceptions the floor bidders are well known to Siegel, being regular customers (spend a lot). I have been frustrated several times by this.

The auction houses primary responsibility is to the consignor and getting the most is the overarching goal not to mention it makes them more commission.

It had already sold for 850 and they were lots further in the auction when they reopened it. I think what rodgcam says is true, they can do what they wish. Personally I would have thought if the 1st one went so high sold, the 2 nd one would have been a little [ at least ] higher price - the 1st time….. after the reopen, maybe the other buyers had tuned out? All interesting.

Tks all - very interesting thoughts. Just goes to show, you never know…. Had buyer of stamp 2 tuned out after having won at 850, they would now be without a stamp - unless - they were also the winner the 2 nd time around when it was reopened.

W/r to Siegel reopening bidding, I have had different experiences with Kelleher. If the winning bid was from a live bidder still on the floor, they would usually be amenable to reopening the bidding since the winner has the opportunity to counter. But if the winning bid came from the internet, they were usually reluctant to reopen since they may not know if the winner is still online.