Tonight's The Night. . .

[Bronty]

what was the high bid on the x2 splash?

[comix4fun]

what was the high bid on the x2 splash?

 

 

Last I saw was 72k with about 3 minutes left.

[markseifert]

Yeah, it ended at 72.

[bocaratondefense]

 

$200K is a lot of money. $329K (the current bid for the Superman cover) is a lot of money. However, since the reserves were not met, those numbers are irrelevant when it comes to FMV for these covers. They literally mean nothing.

 

 

Agreed. The numbers are almost meaningless if reserves are not met.

 

 

[otherworldsj33]

The 400K is in the ball park of what many of us believed. And sure enough, it did not make the (unrealistic) reserve. Not knowing what Robinsons previous best offer was on the piece, maybe all along his strategy was to test the open market, and now he'll try to work something out with the highest bidder, with Metro naturally getting a fee of some sort?

It's hard for me to envision these covers (and splash) going for much more in the current market. Although in the long term, I think the covers especially are a great investment. If I had the money, I would have made a very agressive bid for the Superman 14.

 

[Babin]

 

$200K is a lot of money. $329K (the current bid for the Superman cover) is a lot of money. However, since the reserves were not met, those numbers are irrelevant when it comes to FMV for these covers. They literally mean nothing.

 

 

Agreed. The numbers are almost meaningless if reserves are not met.

 

 

On the contrary, the numbers are extremely meaningful. They represent the real dollars that actual people are prepared to pay for the items.

 

The reserve figures are the ones that are practically meaningless. They only represent someone's opinion.

[comicartcom]

If I had the money, I would have made a very agressive bid for the Superman 14.

 

how much money do you think you should have in your "bank" if you're going to spend half a million or more on a piece of art

[comicartcom]

 

$200K is a lot of money. $329K (the current bid for the Superman cover) is a lot of money. However, since the reserves were not met, those numbers are irrelevant when it comes to FMV for these covers. They literally mean nothing.

 

 

Agreed. The numbers are almost meaningless if reserves are not met.

 

 

On the contrary, the numbers are extremely meaningful. They represent the real dollars that actual people are prepared to pay for the items.

 

The reserve figures are the ones that are practically meaningless. They only represent someone's opinion.

 

I completely agree with this statement

[bocaratondefense]

 

$200K is a lot of money. $329K (the current bid for the Superman cover) is a lot of money. However, since the reserves were not met, those numbers are irrelevant when it comes to FMV for these covers. They literally mean nothing.

 

 

Agreed. The numbers are almost meaningless if reserves are not met.

 

 

On the contrary, the numbers are extremely meaningful. They represent the real dollars that actual people are prepared to pay for the items.

 

The reserve figures are the ones that are practically meaningless. They only represent someone's opinion.

 

When you say "actual people," do you know the names of these people? Were there two people bidding on the Superman above the $300,000 level or were there more?

 

I do agree with you though that the reserves are meaningless. If there is no actual sale where money and goods change hands, I don't think any of these numbers are very useful.

 

 

 

[comicartcom]

When you say "actual people," do you know the names of these people? Were there two people bidding on the Superman above the $300,000 level or were there more?

 

I do agree with you though that the reserves are meaningless. If there is no actual sale where money and goods change hands, I don't think any of these numbers are very useful.

 

 

the "people" are represented by the amount they bid and only they and Metropolis know who they are. Unless you were saying they were "shills" (and no I'm not saying you are) then their bids are very meaningfull. One thing is certain.. One person was willing to pay $402,111 and another was willing to pay $400,111. We know they are real bids because Metropolis vets every buyer wanting to bid over $25,000. So these are real facts and very "useful"

[bocaratondefense]

Not accusing anyone of shilling here at all. However, I am not quite ready to use tonight's "reserve not met" numbers as the new benchmarks for record OA prices. I think I will stick to actual bona fide sales. Of course you are free to interpret prices for unsold items differently.

 

 

 

 

[Nexus]

 

$200K is a lot of money. $329K (the current bid for the Superman cover) is a lot of money. However, since the reserves were not met, those numbers are irrelevant when it comes to FMV for these covers. They literally mean nothing.

 

 

Agreed. The numbers are almost meaningless if reserves are not met.

 

 

On the contrary, the numbers are extremely meaningful. They represent the real dollars that actual people are prepared to pay for the items.

 

The reserve figures are the ones that are practically meaningless. They only represent someone's opinion.

 

I completely agree with this statement

 

I see. So if I decide to auction a piece of art...and I place a $1M reserve on it...and then I (or an associate) anonymously bid it up to $999K...then I can count on at least two people to believe that it's worth that much.

 

Also, when reserves are known, there are those who will safely bid under the reserve for the thrill of it. There are sellers who tacitly encourage this, because it looks like there's a lot of interest. Why not? It appears even experienced collectors observing the auction will buy into it.

 

Not saying any of that happened here. There are legitimate bidders in reserve auctions. There very well could be one person (although in this case, there would need to be two) buyers out there at $400K+. But shill bidding/thrill bidding are nothing new. And neither is shill bidding under a reserve to create a perception of value.

 

Until a reserve is met, I wouldn't assume anything.

 

 

[Nexus]

When you say "actual people," do you know the names of these people? Were there two people bidding on the Superman above the $300,000 level or were there more?

 

I do agree with you though that the reserves are meaningless. If there is no actual sale where money and goods change hands, I don't think any of these numbers are very useful.

 

 

the "people" are represented by the amount they bid and only they and Metropolis know who they are. Unless you were saying they were "shills" (and no I'm not saying you are) then their bids are very meaningfull. One thing is certain.. One person was willing to pay $402,111 and another was willing to pay $400,111. We know they are real bids because Metropolis vets every buyer wanting to bid over $25,000. So these are real facts and very "useful"

 

Metropolis aside, you need to Google "N.P. Gresham".

[comicartcom]

I know all about NP Gresham. I may even know more about that case in it's entirety than you do Felix, but ComicConnect does have a difference: If Steve was bidding, we both know he meant to buy the item, ergo - this was no "NP Gresham".

 

so what we do know for sure - one person was willing to pay $402,111 and was vetted by Metropolis to be sure that any such bid was in fact, real - and this is the differentiation between this particular auction and any "Gresham" situation.

[comicartcom]

personally, I think anyone is nuts if the don't sell both items for the bids receieved

[markseifert]

 

I see. So if I decide to auction a piece of art...and I place a $1M reserve on it...and then I (or an associate) anonymously bid it up to $999K...then I can count on at least two people to believe that it's worth that much.

 

While it's hard to disagree that it doesn't have the same meaning as money actually changing hands, the idea that it has no meaning hinges on the reserve being known (or having a good idea), no? Was there a theoretical number out there?

 

Otherwise (and given the fact that Comic Connect does vet bidders on big dollar items) I'd think bidders crossing the $400k barrier and not intending to follow through would be taking a risk. All things being equal, there had to be some chance the reserve was at that mark.

[ComicConnect.com]

Hello-

 

First, I want to thank everybody who bid last night in our original art auction. I have come onto the Forum today to let you all know that the high bid for the original cover art to Superman 14 was represented by a genuine bid from a hard core collector who is currently willing to pay $402,111.

 

Thanks,

 

Vincent

 

[OAFan-migration]

Hello-

 

First, I want to thank everybody who bid last night in our original art auction. I have come onto the Forum today to let you all know that the high bid for the original cover art to Superman 14 was represented by a genuine bid from a hard core collector who is currently willing to pay $402,111.

 

Thanks,

 

Vincent

 

Thanks Vincent--here's to hoping that you can let us know what the piece ultimately sells for, if both the buyer and seller are amenable to that becoming public knowledge.

[bluechip]

There are so many factors that come into play with reserves. Some buyers have a psychological need to pay less than a reserve because they think a reserve is equivalent to a dream price. And some bidders have trouble going past a reserve even when there's lots of bids above it, because they're fixated on the idea that the seller would've "taken" the lower reserve price. Because of all that the lack of a reserve can sometimes lead to bidders going higher than they would've if there'd been a reserve in the first place. It's not logical but it happens. On the other side, however, there is real danger in putting items up with no reserve, as many examples will show that items sold at public auction for an amount on one day only to sell for much more a short time later.

[pmpknface]

Hello-

 

First, I want to thank everybody who bid last night in our original art auction. I have come onto the Forum today to let you all know that the high bid for the original cover art to Superman 14 was represented by a genuine bid from a hard core collector who is currently willing to pay $402,111.

 

Thanks,

 

Vincent

 

Very cool - congrats on the sale!

 

And if anyone flakes on any of that LB Cole art, just email / PM me!