posted 02-09-2012 11:11 AM               

I have contacted one auctioneer from the above list ("Auctioneer X"), and am sufficiently confused to seek thoughts here. Since these thoughts would be of benefit to many readers besides myself, I hope it will generate some responses.

1. I'm accustomed to a buyer's premium, but was shocked by the seller's premium (the existence, and particularly the quantum!). According to posts here, 10-25% seems par for the course, and negotiation seems possible, but is there any rule of thumb on where sufficient leverage exists to negotiate? If an item is worth $100, I'd assume not, but how about when the item reaches $500? $1000? Can you make a deal with an auctioneer up front that you'll pay a 20% premium if it sells under $500; 15% $500-1000; 10% over $1000, etc? A sliding scale seems sensible, but I've never seen the idea discussed.

2. Auctioneer X expressed an opinion of authenticity - is that good enough? In what circumstances is an independent authentication worth paying for? Does it depend on where you choose to sell (i.e. it might be helpful on eBay - the wild west - but not at RR Auctions, who seem to authenticate and stand behind what they sell, which basically establishes provenance on its own)?

3. If authentication is worthwhile, by whom? Seems like some (like baseball experts) are worthless, so who is worthwhile?

4. In my searches on this board I saw one article auctioned by "X" that was resold shortly after at "Y" for almost double the price. This could be due to other factors like how well publicized the auction was, but I suspect it has a lot to do with the auctioneer's reputation. Is there any consensus on this? Anyone brave enough to rank auctioneers on reputation?

5. Auctioneer X described my signatures as "modern, not classic" - is anyone familiar with this terminology? Seems a little fishy to me. Should I care?

   I'm happy to own a piece that a listed auctioneer is willing to describe as genuine, and who is responsive, but something just doesn't smell right.

posted 02-09-2012 12:29 PM               

I have bought through all of them and sold through four of them. First of all I would exempt Lunar Legacies from this analysis. Correct me if I'm wrong, Donnis, but this is not an institutionalised business but a supplement to his website, from where he originally offered unquestionably sound collectibles.

1. Yes, the auction house can make 40% from the two sides of a trade. Nice business, despite the overheads! In my experience, most of the houses are negotiable on bulk sales, or offer a sliding scale for higher value sales. RR's specialist space auction offers competitive discounted sales commissions, in particular. You just have to ask and offer a good selection of items for sale.

2. Not necessarily! One recent auction house seemed to be offering CofA's issued by another (non-specialist) auction house as the only support! Some (Heritage, RR) employ knowledgeable collectors/specialists to evaluate authenticity. It's not foolproof for either buyer or seller, but offers a level of screening that gives a high degree of comfort. This doesn't "establish provenance on its own", as provenance is more like an audit trail of origination, than the expression of an educated opinion, but it's a lot more valuable than any eBay CofA!

3. This has been discussed before. Try the Heritage or RR authenticators, or post a picture here. You'll get consensus from some knowledgeable people most of the time.

4. Pass - happy to talk off-list!

5. "modern, not classic" - not heard that one before and it depends on the context. You could describe an Armstrong from the early 60's as "classic" and one from the 90's as "modern", but it's not helpful and I wouldn't accept one of my items described thus. The buyer will assess whether they want a classic or modern and set the price accordingly; RR, for example, always provide precise descriptions as to quality of signature and medium - and there's no question that they have had the item authenticated.

posted 02-09-2012 02:24 PM               

I interpret this "Modern" vs "Classic" terminology to mean "was it signed during the person's "active career", or was it signed more recently?

For example, in baseball, Mickey Mantle's, Willie Mays' and Hank Aaron's signatures changed in appearance. Some people might be looking for a "period" autograph (when the player was active), as opposed to a more current one (where the player is retired and the signature is possibly "shakier".

posted 02-09-2012 04:31 PM               

For it to be worthwhile you need the auction house to fetch a significantly higher price for an item than you could get yourself by selling direct here or on eBay (which of course has its own fees to take into consideration).

Auction house fees can look pretty off-putting but sometimes buyers are willing to spend much more at a big space auction than they would on eBay. In fact many people will only buy items at 'bargain' prices on eBay, often in the hope of turning a profit by reselling at a specialized auction.

posted 02-09-2012 05:17 PM            

This was the first time (and probably last time) I have purchased a item from any auction house. I was really uneducated and totally relied on the auction house regarding authenticity.

When I purchased the item I was 100% sure the item was genuine because of the professionalism of the company and it's catelog but after a couple of months when my eye became a small bit trained I released that maybe the signature needed a second opion. I contacted two very reliable persons in the space autograph business and they failed to give me a 100% authentication, both said could be genuine but again could be fake.

My soul got torn out as I paid over $550 for this item and to be told it probably was a fake.

I contacted the auction house and was basically told "don't want to know about it". I may as well have purchased from eBay, at least it might have been a lot cheaper.

posted 02-10-2012 01:52 PM               

quote:

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Originally posted by gliderpilotuk:
This has been discussed before. Try the Heritage or RR authenticators, or post a picture here. You'll get consensus from some knowledgeable people most of the time.

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