Another Stressful Last Day of the Comiclink Auction

[Moondog]

I haven't talked to josh about this in years, but back when I did ask him, he said it was 10% no matter what amount you consigned...he wanted to keep it that way, etc...might have changed since then, but at one point, that was his statement to me (thumbs u

 

The same with me - and I pushed hard.

[Moondog]

I could have sold the book for $400 last summer. Cash. I decided to get it slabbed and list it on Comiclink for $1,200. After about a month I dropped it to $1,000. Another month later I decided to put it in the February auction. Someone bid $600 (including BP) in a Heritage auction last Spring for a non-ped 9.6 which prompted my pricing the Church copy at double that. At the end of the day, it would have been easier, faster, and more profitable to sell it for $400.

 

Is it CL's fault? Only if they aren't reaching potential bidders/buyers for the material I list. That to me (along with timing) is an auction house's main responsibility. Getting the right buyers a catalog. Making it easy for them to bid. Providing the tools to be informed every step of the way so they know exactly where they stand in the bidding process. I love listening to the live segment of a Heritage auction on my computer. I can jump in and bid on the phone or online. It's exciting.

 

I don't bid in CL auctions. I'm a catalog guy. I love Heritages catalog and loved the old Sotheby's catalogs. I'm starting to think there are other collectors like me who don't bid on CL auctions because of this. I hate knowing that the 18 days leading up to the last day of an auction are, for the most part, just a waste of time on Comiclink.

Gary, everything you`ve said above just makes me more curious why you didn`t consign the book with Heritage in the first place.

 

Or why he didn't put a reserve on the book.

 

Why didn't you put a reserve on the book Gary after it didn't sell at $1,000 earlier in the year?

 

This was like reading some sort of self fulfilling prophecy.

 

When I moved all the books from the listings to auctions, I just sent an email to Douglas asking him to do so. I really wasn't thinking about reserves since I bought all the BA and the Golden Arrow right. I've used reserves in prior CL and Heritage auctions and will do so again in the future if necessary.

 

I had no reason to put a $1,000 reserve on a book I thought would sell in the $400-$500 range.

[Moondog]

I have a book in the Comiclink auction that ends tomorrow night. It's a Mile High Fawcett.

 

Right now it's at $220.

 

$220!!!

 

Overstreet 9.2 is $275.

 

When I listed it I was resigned to the possibility that it could go for $400 (it's a western so no big multiples) but I was hoping for $500. The last 9.6 that sold of this issue was in a Heritage Auction last year and it went for $600 including BP. This is the god-blessed Mile High - it should get at least the same, right???

 

I'm just not sold on CL for GA. Anyone else here experience this too? Now I'm going to sweat it out for the next 24 hours.

 

Gaaaaaaaahhhh!!

 

 

 

I think the more important question you need to be asking yourself is why would you consign a $500 book when the auction house is going to take 10% to 15% in commission? That's just not very good business strategy especially when you're wanting to break at least even.

 

The only important percentage when selling is the seller's commission. BP means nothing to me. Of course I understand that I'm not getting the BP, the auction house is, but at the end of the day, the net amount is all that counts. CL's 10% isn't outrageous, but if they don't bring in appropriate bidders in large enough numbers, then it can be very onerous.

 

And as for using CL in the first place, I think it's important to try new avenues of selling. I've quit using eBay, but I may go back at some point. Heritage still gets 90% of everything I sell, but I like my customer list and the boards the best.

[Moondog]

I could have sold the book for $400 last summer. Cash. I decided to get it slabbed and list it on Comiclink for $1,200. After about a month I dropped it to $1,000. Another month later I decided to put it in the February auction. Someone bid $600 (including BP) in a Heritage auction last Spring for a non-ped 9.6 which prompted my pricing the Church copy at double that. At the end of the day, it would have been easier, faster, and more profitable to sell it for $400.

 

Is it CL's fault? Only if they aren't reaching potential bidders/buyers for the material I list. That to me (along with timing) is an auction house's main responsibility. Getting the right buyers a catalog. Making it easy for them to bid. Providing the tools to be informed every step of the way so they know exactly where they stand in the bidding process. I love listening to the live segment of a Heritage auction on my computer. I can jump in and bid on the phone or online. It's exciting.

 

I don't bid in CL auctions. I'm a catalog guy. I love Heritages catalog and loved the old Sotheby's catalogs. I'm starting to think there are other collectors like me who don't bid on CL auctions because of this. I hate knowing that the 18 days leading up to the last day of an auction are, for the most part, just a waste of time on Comiclink.

Gary, everything you`ve said above just makes me more curious why you didn`t consign the book with Heritage in the first place.

 

Normally I would have, but I had the book slabbed with 15 BA books at Chicago last August and decided to include it with the BA that I consigned to CL. They took the books with them helping to alleviate the hassle of shipping them separately. It was really a matter of convenience.

 

 

[Moondog]

Of course it's all going to come down to the final price. CLink has to come within about 20% of Heritage to make sense (assuming the 19% BP and 10% Seller's premium).

 

Personally, I will never consign another non-DC/Marvel GA, non-key GA book to CLink. The time I did, I lost money on both books I sold. 1 was a Gaines file copy and 1 was a Church.

 

I'm with you. No use in trying to make something happen that ain't gonna happen!

[Bomber-Bob]

I have a book in the Comiclink auction that ends tomorrow night. It's a Mile High Fawcett.

 

Right now it's at $220.

 

$220!!!

 

Overstreet 9.2 is $275.

 

When I listed it I was resigned to the possibility that it could go for $400 (it's a western so no big multiples) but I was hoping for $500. The last 9.6 that sold of this issue was in a Heritage Auction last year and it went for $600 including BP. This is the god-blessed Mile High - it should get at least the same, right???

 

I'm just not sold on CL for GA. Anyone else here experience this too? Now I'm going to sweat it out for the next 24 hours.

 

Gaaaaaaaahhhh!!

 

 

 

I think the more important question you need to be asking yourself is why would you consign a $500 book when the auction house is going to take 10% to 15% in commission? That's just not very good business strategy especially when you're wanting to break at least even.

 

The only important percentage when selling is the seller's commission. BP means nothing to me. Of course I understand that I'm not getting the BP, the auction house is, but at the end of the day, the net amount is all that counts.

 

Regarding your comment that the BP means nothing to you as the Seller, I disagree, it should and does matter to you. Correct me if I am wrong but the seller's gross price is based after the application of the BP. It's basic math that the seller will get less. Say there's a 10% BP and a 10% seller's commision on a book sold @ 100.00 . Heritage takes 10%, leaving 90.00. Now they take 10 % commision leaving 81.00 . Without a BP you would have received 90.00 . Most of the BP is coming out of the seller's pocket.

[MrBedrock]

How do you get the better rates?

Consign a buttload of stuff.

 

Did you just say "buttload".

That's the terminology that Heritage uses in their Consignor's Agreement.

[Transplant]

How do you get the better rates?

Consign a buttload of stuff.

 

Did you just say "buttload".

That's the terminology that Heritage uses in their Consignor's Agreement.

It's a legal term based on the old latin, gluteus capacitus, and has a very specific meaning in court.

[MrBedrock]

How do you get the better rates?

Consign a buttload of stuff.

 

Did you just say "buttload".

That's the terminology that Heritage uses in their Consignor's Agreement.

It's a legal term based on the old latin, gluteus capacitus, and has a very specific meaning in court.

As opposed to crapacus capacitas, which is a much more general term with a broad interpretation.

[Transplant]

As opposed to crapacus capacitas, which is a much more general term with a broad interpretation.

Please don't put on airs Richard and try to rise above your learning. crapacus capacitas would never be used in a contract setting. It applies to describing people. E.g., "that guy is full of ..."

[Moondog]

I have a book in the Comiclink auction that ends tomorrow night. It's a Mile High Fawcett.

 

Right now it's at $220.

 

$220!!!

 

Overstreet 9.2 is $275.

 

When I listed it I was resigned to the possibility that it could go for $400 (it's a western so no big multiples) but I was hoping for $500. The last 9.6 that sold of this issue was in a Heritage Auction last year and it went for $600 including BP. This is the god-blessed Mile High - it should get at least the same, right???

 

I'm just not sold on CL for GA. Anyone else here experience this too? Now I'm going to sweat it out for the next 24 hours.

 

Gaaaaaaaahhhh!!

 

 

 

I think the more important question you need to be asking yourself is why would you consign a $500 book when the auction house is going to take 10% to 15% in commission? That's just not very good business strategy especially when you're wanting to break at least even.

 

The only important percentage when selling is the seller's commission. BP means nothing to me. Of course I understand that I'm not getting the BP, the auction house is, but at the end of the day, the net amount is all that counts.

 

Regarding your comment that the BP means nothing to you as the Seller, I disagree, it should and does matter to you. Correct me if I am wrong but the seller's gross price is based after the application of the BP. It's basic math that the seller will get less. Say there's a 10% BP and a 10% seller's commision on a book sold @ 100.00 . Heritage takes 10%, leaving 90.00. Now they take 10 % commision leaving 81.00 . Without a BP you would have received 90.00 . Most of the BP is coming out of the seller's pocket.

 

Bob,

 

I don't believe I'm any different than anyone else, but my commission is based on the hammer price. Using your scenario, if the book hammers at $100, the buyer pays $110 and Heritage sends me $90. That's the way it's always gone for me.

 

 

[Transplant]

But Gary, buyers care about the BP. It keeps their max bids lower = less $$ in your pocket. Assume no BP, buyer will be willing to pay $200. With a BP, that buyer stops bidding at about $165 + 20% (33) = $198.

[Moondog]

But Gary, buyers care about the BP. It keeps their max bids lower = less $$ in your pocket. Assume no BP, buyer will be willing to pay $200. With a BP, that buyer stops bidding at about $165 + 20% (33) = $198.

 

Yes, this is what I was referring to when I said that the buyer pays it and the auction house gets it. That someone was willing to pay $600 for a Golden Arrow 3 in 9,6 is important, but the fact that the seller netted $450 is the most important aspect of the transaction.

 

The market for that book was $600. Not the $500 the buyer bid. Not the $450 the seller received. That's why the auction house must bring in qualified buyers who up the chances of the book bringing more than market.

 

 

[Bomber-Bob]

I have a book in the Comiclink auction that ends tomorrow night. It's a Mile High Fawcett.

 

Right now it's at $220.

 

$220!!!

 

Overstreet 9.2 is $275.

 

When I listed it I was resigned to the possibility that it could go for $400 (it's a western so no big multiples) but I was hoping for $500. The last 9.6 that sold of this issue was in a Heritage Auction last year and it went for $600 including BP. This is the god-blessed Mile High - it should get at least the same, right???

 

I'm just not sold on CL for GA. Anyone else here experience this too? Now I'm going to sweat it out for the next 24 hours.

 

Gaaaaaaaahhhh!!

 

 

 

I think the more important question you need to be asking yourself is why would you consign a $500 book when the auction house is going to take 10% to 15% in commission? That's just not very good business strategy especially when you're wanting to break at least even.

 

The only important percentage when selling is the seller's commission. BP means nothing to me. Of course I understand that I'm not getting the BP, the auction house is, but at the end of the day, the net amount is all that counts.

 

Regarding your comment that the BP means nothing to you as the Seller, I disagree, it should and does matter to you. Correct me if I am wrong but the seller's gross price is based after the application of the BP. It's basic math that the seller will get less. Say there's a 10% BP and a 10% seller's commision on a book sold @ 100.00 . Heritage takes 10%, leaving 90.00. Now they take 10 % commision leaving 81.00 . Without a BP you would have received 90.00 . Most of the BP is coming out of the seller's pocket.

 

Bob,

 

I don't believe I'm any different than anyone else, but my commission is based on the hammer price. Using your scenario, if the book hammers at $100, the buyer pays $110 and Heritage sends me $90. That's the way it's always gone for me.

 

 

Sorry, I was wrong. I have never bought or sold with Heritage and I thought my scenario was the way it worked. However, I still say Sell on the Boards and avoid all this fee nonsense !

[tth2]

Of course it's all going to come down to the final price. CLink has to come within about 20% of Heritage to make sense (assuming the 19% BP and 10% Seller's premium).

For many sellers, the gap between Heritage`s and Comiclink`s rates is not as big as the "rack rates" would indicate, and for some the gap is very small. So I think in most cases a book on Heritage does not have to sell for 20% higher than on Comiclink to achieve the same net for the seller.

I know this and others have answered the often asked question of how this happens. But, for the majority of collectors/sellers, this is not going to happen. Who knows how many books Gary gave to CLink, but I'm guessing it was far under what a 0%SP and a portion of the BP deal would need from Heritage.

If you`re a relatively major consigner, you should negotiate a standing rate with Heritage which applies for every auction, so that you get the same deal even if you`re making a fairly small consignment for a particular auction.

[Transplant]

Of course it's all going to come down to the final price. CLink has to come within about 20% of Heritage to make sense (assuming the 19% BP and 10% Seller's premium).

For many sellers, the gap between Heritage`s and Comiclink`s rates is not as big as the "rack rates" would indicate, and for some the gap is very small. So I think in most cases a book on Heritage does not have to sell for 20% higher than on Comiclink to achieve the same net for the seller.

I know this and others have answered the often asked question of how this happens. But, for the majority of collectors/sellers, this is not going to happen. Who knows how many books Gary gave to CLink, but I'm guessing it was far under what a 0%SP and a portion of the BP deal would need from Heritage.

If you`re a relatively major consigner, you should negotiate a standing rate with Heritage which applies for every auction, so that you get the same deal even if you`re making a fairly small consignment for a particular auction.

That's a big IF. What level is that a year $10k, $25k, $50k?

[tth2]

I haven't talked to josh about this in years, but back when I did ask him, he said it was 10% no matter what amount you consigned...he wanted to keep it that way, etc...might have changed since then, but at one point, that was his statement to me (thumbs u

This is my experience as well. Josh holds a very hard line on fees, which therefore made it pointless for me to consign anything major with Comiclink.

 

For a few percent higher fees on Heritage, I get the additional marketing benefits of the catalog, live auction, an ISP that doesn`t exclude Asian bidders, Heritage provides 6-month financing to buyers (thus allowing them to bid a bit more aggressively) and Heritage doesn`t charge buyers a fee to pay with a credit card (thus again encouraging them to bid a bit more aggressively).

 

Having said that, if I were selling HG SA or BA Marvel, I would still probably consign to Comiclink because it`s able to consistently achieve the highest price for those types of books, even without all the bells and whistles.

 

 

[tth2]

Of course it's all going to come down to the final price. CLink has to come within about 20% of Heritage to make sense (assuming the 19% BP and 10% Seller's premium).

For many sellers, the gap between Heritage`s and Comiclink`s rates is not as big as the "rack rates" would indicate, and for some the gap is very small. So I think in most cases a book on Heritage does not have to sell for 20% higher than on Comiclink to achieve the same net for the seller.

I know this and others have answered the often asked question of how this happens. But, for the majority of collectors/sellers, this is not going to happen. Who knows how many books Gary gave to CLink, but I'm guessing it was far under what a 0%SP and a portion of the BP deal would need from Heritage.

If you`re a relatively major consigner, you should negotiate a standing rate with Heritage which applies for every auction, so that you get the same deal even if you`re making a fairly small consignment for a particular auction.

That's a big IF. What level is that a year $10k, $25k, $50k?

No idea. I can only tell you if you consign the Western Penn SA Flash run and best GA HG Duck run all at once, at the height of those markets, that`s enough to do the job.

 

Bottom line is the only way to find out is to ask. I understand that calling Steve at 4:30 am to negotiate is particularly effective.

[Transplant]

That's a big IF. What level is that a year $10k, $25k, $50k?

No idea. I can only tell you if you consign the Western Penn SA Flash run and best GA HG Duck run all at once, at the height of those markets, that`s enough to do the job.

 

Bottom line is the only way to find out is to ask. I understand that calling Steve at 4:30 am to negotiate is particularly effective.

Alarm set. Should I give him your regards as well?

[tth2]

That's a big IF. What level is that a year $10k, $25k, $50k?

No idea. I can only tell you if you consign the Western Penn SA Flash run and best GA HG Duck run all at once, at the height of those markets, that`s enough to do the job.

 

Bottom line is the only way to find out is to ask. I understand that calling Steve at 4:30 am to negotiate is particularly effective.

Alarm set. Should I give him your regards as well?

Actually, all my dealings have always been with Ed and Lon. I don`t deal with Steve--he`s just a newbie!