Space News
space history and artifacts articles

Messages
space history discussion forums

Sightings
worldwide astronaut appearances

Resources
selected space history documents

Websites
related space history websites

  collectSPACE: Messages
  Auctions - Reviews & Results
  Space auction estimates and hammer prices

Post New Topic  Post A Reply
profile | register | preferences | faq | search

next newest topic | next oldest topic
Author Topic:   Space auction estimates and hammer prices
Tykeanaut
Member

Posts: 1624
From: Worcestershire, England, UK.
Registered: Apr 2008

posted 04-18-2012 11:20 AM     Click Here to See the Profile for Tykeanaut   Click Here to Email Tykeanaut     Edit/Delete Message   Reply w/Quote
Are auction prices creeping up to where retail prices should be?

I now it's supply and demand, and I'm not being critical. I just wondered if anyone else agreed or disagreed?

garymilgrom
Member

Posts: 1571
From: Atlanta, GA, USA
Registered: Feb 2007

posted 04-18-2012 12:28 PM     Click Here to See the Profile for garymilgrom   Click Here to Email garymilgrom     Edit/Delete Message   Reply w/Quote
Wouldn't auction prices be retail prices? Or are you thinking only dealers buy at auctions, then mark items up further?

yeknom-ecaps
Member

Posts: 458
From: Northville MI USA
Registered: Aug 2005

posted 04-18-2012 12:28 PM     Click Here to See the Profile for yeknom-ecaps   Click Here to Email yeknom-ecaps     Edit/Delete Message   Reply w/Quote
I don't think auction prices directly correlate to retail prices. For many items from auction to auction the prices can swing wildly based on who is bidding.

I think the emotion involved in live bidding makes pieces go for more than than they are worth if there are two spirited bidders involved.

Similarly bargains can be had — as seen in many of the posts — because of low bid activity.

Also, for the same item from multiple sellers the retail price can swing just as wildly. How many posts have been out there from bargain buys.

Supply and demand, what the seller has invested versus return, etc. all play a role.

Spaceguy5
Member

Posts: 400
From: Pampa, TX, US
Registered: May 2011

posted 04-18-2012 02:53 PM     Click Here to See the Profile for Spaceguy5   Click Here to Email Spaceguy5     Edit/Delete Message   Reply w/Quote
In my experience, it depends on which auction you're using and who is bidding. In general, auctions with more people (especially eBay) have the highest hammer prices. In fact I've seen numerous items sell on eBay for far more than their actual retail value — especially space shuttle tiles.

But with with smaller auctions, such as one auction company which sells through Proxibid (and usually doesn't have very many participants) or items on eBay that have very few views, I've managed to get items so cheaply that I almost felt like I was stealing.

benfairfax
Member

Posts: 173
From: Australia
Registered: Jan 2011

posted 04-18-2012 07:51 PM     Click Here to See the Profile for benfairfax   Click Here to Email benfairfax     Edit/Delete Message   Reply w/Quote
I think it is the natural inflation of these rare collectables. I think nearly all of the current Regency auction estimates are wrong. They are way off the mark. Some "retail" items I have seen I think are too low. In general I don't think you will get a "bargain" off the major auction sites as all of us know and monitor them every time. I'm happy the prices are rising, I'd hate to see them go the other way!

Tykeanaut
Member

Posts: 1624
From: Worcestershire, England, UK.
Registered: Apr 2008

posted 04-19-2012 06:22 AM     Click Here to See the Profile for Tykeanaut   Click Here to Email Tykeanaut     Edit/Delete Message   Reply w/Quote
quote:
Originally posted by garymilgrom:
Wouldn't auction prices be retail prices? Or are you thinking only dealers buy at auctions, then mark items up further?
Not in my opinion, I think auction prices should be less than a retailer.

yeknom-ecaps
Member

Posts: 458
From: Northville MI USA
Registered: Aug 2005

posted 04-19-2012 11:46 AM     Click Here to See the Profile for yeknom-ecaps   Click Here to Email yeknom-ecaps     Edit/Delete Message   Reply w/Quote
quote:
Originally posted by garymilgrom:
Not in my opinion, I think auction prices should be less than a retailer.
Not necessarily — who is bidding, who they are bidding against, prices of other things sold, other items coming up, etc. In following auctions for many years it is ALWAYS a mix of higher and lower.

Steve Zarelli
Member

Posts: 346
From: Upstate New York, USA
Registered: Mar 2001

posted 04-19-2012 01:57 PM     Click Here to See the Profile for Steve Zarelli   Click Here to Email Steve Zarelli     Edit/Delete Message   Reply w/Quote
quote:
Originally posted by Tykeanaut:
Not in my opinion, I think auction prices should be less than a retailer.
I think the natural reaction is that the auction format can result in below retail bargains. This may be true for common material and in venues where there is not a lot of competition or the reputation is not great.

However, for high-end items in a reputable venue the sky is the limit. The auction format essentially defines "retail" for those items that are difficult to price because they are rare, pricey or unusual.

gliderpilotuk
Member

Posts: 3043
From: London, UK
Registered: Feb 2002

posted 04-22-2012 10:19 AM     Click Here to See the Profile for gliderpilotuk   Click Here to Email gliderpilotuk     Edit/Delete Message   Reply w/Quote
The specific auction venue often defines the prices achieved. Look at Bonhams, still cataloguing (and possibly achieving) $1,000 for a bog-standard Aldrin, that can be obtained on Ebay for less then his in-person fee. This is due to the "audience" that Bonhams can command and is not reflective of a generic retail/auction price correlation.

Likewise last year's RR specialist Space sale achieved some outstanding prices, by virtue of their excellent marketing and reputation. Prices, well in excess of "retail" even for those that could not be considered rare or unique.

In general however, results from auction houses seem to have gone two ways: UP for the rare, unique pieces, as Steve says, but down, or at best static, for the Mitchell, Scott, Cooper type stuff. What I find really interesting is the high demand for multi-signed pieces of astronauts who can easiy be obtained TTM or at shows. Again, Bonhams excel at this.

As for estimates, I think there are various motives behind them. Some are set relative to the reserve price, eg 2x, with bidding starting at half the lowest estimate. There's no doubt, however, that many houses have a habit of setting unrealistic estimates.

All times are CT (US)

next newest topic | next oldest topic

Administrative Options: Close Topic | Archive/Move | Delete Topic
Post New Topic  Post A Reply
Hop to:

Contact Us | The Source for Space History & Artifacts

Copyright 1999-2012 collectSPACE.com All rights reserved.


Ultimate Bulletin Board 5.47a





advertisement