Another Auction Question - Tear, No Tear?

NSK, using Scott or other catalog valuations goes way back. It is, of course, just a reference price. And ranges of actual value have been misleading, sometimes purposely low to tout what great prices an auction house gets and more often demonstrating lack of ability or time given to properly evaluate value. High estimates vs. real value typically means the item is has a reserved price. There is a knowledge base required to buy at any auction unless you don't care about what you get or how much you spend.

Linus, if you have had that many problems buying at auction without inspecting items, perhaps it's time to inspect items or not bid. Yes, you can get better deals at auction often enough than buying at full retail. But if all your potential serious competitors HAVE inspected the lots, found problems and decided not to bid, then it's just down to your bid. If the Penny Black won was sound, then I'd expect to pay about $100 plus surcharge at auction. If you bid much less, then the scenario that I suggested is probably what happened.

Interesting. Completely different from how things are in Europe/UK.

There is no reason why European and US auctions should be the same. For one, US auctions used Scott numbers exclusively for many years; European auctions never.

Most US auction houses don't have the private sale of unsolds after the physical auction, either.

@ by-brasil - this is what I said , not that I had never inspected items. Fault and inexperience acknowledged and aiming to get better…





I now know to ask for good quality scans. And if they aren't , don't buy or ask for better ones. Inspect , inspect, inspect and know terms

Anyhow, I think the original question has been answered.

Tks all again!