Question About A Lot "Sold" At Westpex Which Is Now In The Upcoming Kelleher Collection/Lot Auction

Saw a lot at Westpex which "sold" for just under $4k without tip or tax. Now the exact same lot is being offered by Kelleher with an estimate of $4k. Given the round trip on the commission how does this particular type of transaction work? Perhaps someone with more intimate knowledge of the auction game can explain this seemingly non economic transaction.

Bob

When was it sold at Westpex?

Economics may not have to do anything with it. As an American lieutenant in a British police series used to say: 'life is hard, then you die.'

There may be several reasons why someone or the heirs of someone may want to dispose of stamps. Among these reasons are economic adversity, dying, or health issues. And, probably, there will be many more reasons,

Somebody died , Someone seen one stamp or seen a cancel they needed for a show exhibit , Somebody lost their job , Somebody got on the wrong side of the market and got a margin call ,someone bid on the wrong lot .

Lots of strange reasons can happen .

Is it possible it was sold but the transaction fell through for some reason and now it is being reoffered by the original seller?

Westpex was in the middle of May... this year

Sold to reserve? That is not a pass.
Buyer failed to pay, lot returned to original consignor.
Bad cert gotten or bad cert "suggested" by the cert company on an item and sale reversed.

That said, care to mention the Rumsey auction lot number so we know what you are discussing? It would help with the guessing.

Edit:



WESTPEX, the show in Burlingame, just south of San Francisco and by the SF International Airport was the last weekend of APRIL, not mid-May, April 26-28 and for 2025, April 25-27.

re: "It would help with the guessing."

Didn't realize the Rumsey auction has that many $4k estimate items.

Rumsey ran three sales during WESTPEX.

One of the sales held at WESTPEX back in April had fifteen lots which realized (hammered at) five figures, $10.000.00 or more. Edit: The sale sale had seven $4000.00 hammer lots. They all carry an 18% kick plus sales tax, if applicable, of 9.63% on site.

There were also seven $4000.00 hammer lots in the multi-day WESTPEX Sale as well as many more hammered over that amount including over a dozen in the five figure range.

ok. Still trying to knock the cobwebs of Covid from my brain and as a result, I wrote the month of Westpex wrong. Off by a good 20 days. Mea Culpa.

Here are the descriptions to compare of the two lots... note: identical except that Kelleher added the word "massive".

Schuyler Westpex Lot 1943

20th Century Matched Plate Block Collection. Thousands of matched commemorative, definitive and airmail plate blocks, ranging from Scott #801//C83, all identified in glassines or black stockcards, generally four matched plates per envelope, also including high grade NH Famous American blocks with 5¢ and 10¢ values and a nice run of 3¢ purples with some plate blocks of six, owner's face value approximately $12K, premium items counted as face, duplication throughout, fantastic opportunity for the matched plate number enthusiast, generally very fine.
Estimate; $5,000 - 7,500.

REALIZED $3750

From Kelleher Upcoming Collection Sale Lot 2169

20th Century Matched Plate Block Collection, massive collection of thousands of matched commemorative, definitive and airmail plate blocks, ranging from Scott #801//C83, all identified in glassines or black stockcards, generally four matched plates per envelope, also incl. high grade NH Famous American blocks w/5¢ and 10¢ values and a nice run of 3¢ purples w/some plate blocks of six, owner's face value approx. $12K, premium items counted as face, duplication throughout, great opportunity for the matched plate number enthusiast, generally very fine.

ESTIMATE $4-6K

I understand that buyers flake, die, return because of a bad cert, or just decide that they made a near 40% mistake and decide to cut bait. No way of knowing that. Given the nearly exact description and relatively short turnaround to relisting, I was wondering if there was something else going on on the auctioneer's side of the table. Appreciate the comments and can shut this down if people find it non productive.

Bob

A couple years ago I was involved in a similiar situation.

I was underbidder on a very nice Europe collection offered by Kelleher, and it was shown as sold. About 3 months later the same collection popped up at Rumsey. I think it opened at the same price it sold for at Kelleher, since I had already passed at that price and I didn't know what was going on I just watched. There were no bids and it was listed as unsold. I called them and told them I was interested at a lower price than the opening. They said they'd take my offer to the owner and eventually I got it for $1000 less than I had originally bid. I was happy with the deal and did not question them how it happened. I just figured there are lots of things that happen at auctions and this was one of them.

Ken

Lot 1943 on Rumsey's website does not have a price realized.

It either did not sell or was returned, etc .. something happened and the sale didn't occur.

I didn't check SAN, but it is often not updated with such information and is often stale.

SAN shows the $3750 realized that the OP posted above.

Speaking of auction sales, haven't seen Rodgcam on lately. Anyone have any info?

At the beginning of the year, he was absent for some time as well. At the time other activities were requiring his attention.

SAN can have issues.

Here it is from the horse's mouth:


Edit: I do know a collector who examined the lot but passed. Not enough useful stuff for him. He collects plate # blks by number and position for fun as well as other areas.

Did the lot actually sell? Is there any evidence of it receiving bids? From the auction log transcript, it just says Sold to "Book/NET", but without a paddle number. This may be how the log displays "passed" lots; nothing in the log actually says "passed". Most sold lots either give a paddle number or "sold to the floor".

Lot 1942 SOLD... Book/NET Paddle Ixxx for $ 850.
Lot 1943 going for 3750...
Lot 1943 Last Call at 3750...
Lot 1943 Last Call at 3750...
Lot 1943 going for 3750...
Lot 1943 Last Call at 3750...
Lot 1943 SOLD. Book/NET for $ 3750.