How Do You Feel About Public Auctions Without Live Viewing?

I need to look closer, but some of the lots in the Kelleher auction look like they might be some of the same lots they offered earlier that were supposed to be in their APS show sale, but apparently didn't sell. Will be interesting to see if they lowered the estimates.

Started reviewing the Rasdale auction today and totally agree with Floortrader- the descriptions give the bigger collections short shrift. Aside from that, I am SHOCKED at the levels of bidding so far in advance of the actual auction. A huge number of collection lots are 50-60% of stated Scott value, and some are even higher. This, for material I normally would expect to sell at perhaps 20-25% of Scott given the preponderance of mixed condition in lots such as these.

Very weird.

I have to think it's collectors bidding things up like this rather than dealers, as unless the material is incredibly specialized or ultra-high-grade, the "new normal" levels we're seeing at public auction are above the level at which a dealer can make a profit, IMO.

Presumably this is a temporary surge rather than any sort of major market shift.

Revenue- there are numerous lots going for 2/3 Scott. Makes me wonder if these are actual bids or minimum bids established by Rasdale or the consignors. I'm suspicious that so many foreign collections are right at exactly 2/3 of Scott.

My neighbor has been selling collectible cookware and glassware on ebay and is dumbfounded by the prices people are paying for everything she lists. She is averaging 5-6 times the amount that similar items sold for a year ago. Her problem is also finding more to sell.

Interesting comments here , If you want to get a shock ,just look at those Spanish Colonies collections just sold a few days ago at Kelleher Auctions.

I looked on-line before the auction at each lot ,no big deal ,typical starting bids for Kelleher about 1/5 to 1/4 as estimated price or suggested bid , OK ,normal . Cape Juby was $600.00 ok I can get it for $400 tops $500.00 , buy it take out what I am missing and sell off the rest and recover 1/2 my purchase price ......dream on .......it sold for $1300 ,guess a few people where trying to complete their Scott Internationals all with the same lot .

I complainted on this and other boards about how hard it is to get a decent showing of Spanish Colonies for any pre-1940 material. Well after this auction your going to be close to catalog prices ,unbelievable .

It seems very hit and miss lately. I picked up a Spain & Colonies lot from Kelleher last month at a reasonable price, most of the value in old Spain, but with a fair amount of Cape Juby in it. Took the few I wanted and listing the rest. I actually see more items to like in the Kelleher internet/mail this weekend than in the upcoming collections lot - that one seems quite sparse. On Rasdale, their openings for lots seem silly high for sure, so will pass.

Meant to add the bidding at Sparks last month was also very erratic - intense on some, dead on others, so managed to pick up a couple lots at good prices but not what I initially wanted. We'll see how the rest of the summer plays out I guess!

rogdcam: Completely agree about the sky high prices of items on ebay. I thought we were in a recession.

There are always collectors with money regardless of the overall economic situation. In 1933 at the height of the depression, the Arthur Hind auctions brought record prices.

There are 2 really exceptional collections of Portuguese Colonies in the Rasdale auction that already have quite high starting bids. They are going to go high assuming the price today does not represent a reserve.

I would like to point out in regards to the Rasdale sale that the suggested bids (S.B) are not Scott catalogue value as Shermae stated above and in no way can you draw a conclusion that the bidding is already at 50-60% of CV. Actually you cannot make any assumption as to value unless you examine the lot and determine CV for yourself which does bring us back to descriptions and scans being of paramount importance.

Edit To Add:

As a matter of fact the current bids have not moved much from their openings.

revcollector: True, but the current auction climate defies the underlying macroeconomic statistics.

It's confusing because it says "Cat Value" at the upper right corner. And there is no definition of "SB" anywhere on the site.

I think a part of it is that people working at home are not spending money commuting, eating out, on gym memberships, buying clothes for the workplace etc.. People have also been stuck at home and have numerous different stressors and all that extra time that comes with not venturing out much and have turned to latent collecting interests.

Torin-many collectors are older and more secure financially. And many are retired and really not affected by the current situation. Now they have time on their hands, and since dealers have few other ways to get material, the combination is creating higher prices.