Fully-Automated Online Revenue Auction At Siegel This Morning

While I've used their "Bidballer" platform several times previously, this was the first fully-automated session of theirs I've sat through. All the calling is done by AI, and there are several voices to choose from.

Overall, it worked extremely well, and not having floor bidders, phone bidders, or a human calling the lots kept everything moving along at a brisk pace. I really liked it.

The one anomaly I saw that indicates they still have bugs to work out, is that for several lots throughout the session, the audio would indicate a current bid and final hammer price higher than what the computer interface showed. I chatted a message to the "floor" but never received any response. The reason this is problematic, is that when there is a disconnect, the automatically-formatted bid button amounts end up being below an amount necessary to bid, meaning that only a custom typed bid amount would work. This is problematic when you only have potentially a 10-second window to execute their bid.

I expect they will work the kinks out for future sessions.

Bidding was incredibly strong, in some cases stratosphere money, especially for condition and/or position pieces. I ended up being the underbidder on the lot I wanted the most, and never even got a chance to bid on my second most desired, as it soared out of reach.

There were also some bargains to be had. I bid on several lots that I felt were going too cheaply, but had to back off as the session was backloaded with my wants.

The results on the Match & Medicine stamps wasn't as high as I would have expected overall, and the big 1st issue balance lot sold for below estimate, which surprised me, as the quality was excellent. If I had had the means, I would have bid. Someone got a nice grouping.

I ended up with 3 revenue lots: one single stamp and 2 group lots. Two of them I had to stretch past estimate for. All 3 lots had attributes to them that made them desirable to me but weren't mentioned in the listings.

Did you purchase the revenues used as postage group lot?

No, that was my #2 that quickly went for more than I was willing to spend. my #1 was the R112d (perf 8) on document, but I tapped out once the total with BP would have exceeded $1500. It would have been nice, but oh well...

There were a few nice covers in the lot, and one cover I really wanted, but there were enough common items that I couldn't see going over $200 per cover (with the buyers premium). I thought the M&M prices were strong considering the condition and with the buyers premium (compared to say one of Eric's mail sales with no premium).

Prices were definitely strong.
I'm a sucker for pretty first issue stuff; I got lot 157, which appears to be all ex-Bleckwenn.

Overall I like Siegel's bidding platform. I did miss an opportunity on bidding on several lots due to exactly what you described— never having a prescribed bid > the required one. Each time I disconnected and reconnected thus missing a lot or two.

That lot has some gorgeous material in it. If you ever decide to part with the R53c, I would love to acquire it; I don't have an example of that cancel.

The R52a is Simon de Visser, not typically found on imperfs. It's lovely.

The R30c is Bank of Phoenixville, PA

The R78c is Providence Tool Co. Great eye candy with the contrasting red ink.

M&M's often went cheap. There was a second 60 cent foreign entry. Some first issues went for insane prices.

A second 60c Foreign Entry?... you don't say...

Thanks a lot for the breakdown.
I'm sorry if I wound up with something you really wanted. It happens. If I part with these I'll be happy to keep you in mind.

I don't know what the revenue market was like pre-Bleckwenn, but there sure seems to be some serious money in it now. That wasn't me driving up the individual lots. I just grabbed a few cheaper things outside of the group lot.

No you're fine. I didn't bid on that lot. While the cancels are lovely, that's not my primary focus these days (10-15 years ago they would have been).

There has always been serious money in revenue collecting. I thought that some items, while very attractive, are not especially scarce brought bigger dollars than they are worth. But, that's collecting.

Lot 10018 was an amazing corner copy of an imperforate 50c Conveyance (R54a), cataloging at $20 25SCV. It hammered at $1,400 plus juice.

Perfect example of two bidders who can't live without an item!

I seem to remember having a similar margin single, but not a corner margin.