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WTF is wrong with this person?

Started by drdroom,

24 posts in this topic

DocR

DocR

Posted
Posted

 

I agree with your sentiments about dealers looking to (at least) double their outlay on art they buy in auction. Like you, I've absolutely no problem with anyone making a decent profit on re-sale, but asking in excess of twice what they (recently) paid for something is outrageous at the best of times.

 

It does happen, though.

 

Not that this is the same case, but I remember when the complete book of Amazing Spider-Man #31 OA was broken up and sold at an auction house, quite a few pages showed up about 24 hrs later on a popular (and quite a good guy) OA dealers site for more than double (sometimes triple) the closing auction price.

 

I was watching those pages well; if I remember correctly, something like a $75 deposit had to be laid down via CC in order to qualify to bid (something like that). I didn't do it, and many of those pages went for a decent price.

 

Wish I woulda' participated in that one.

 

I can totally see something like this happening in the past as the hobby was developing. But the market is now clearly much more efficient. Nothing should be selling at a quarterly HA or clink auction for 40-50% of its free market value. The numbers of people participating in the auctions are much higher and the price history of similar items is much larger. This doesn't mean the market is 100% efficient. I don't believe any market is and there are always some deals to be had. I just don't see a 20k piece selling for 10k anymore. OTOH in this frenzied hobby you can often see a 10k piece going at auction for 20k when you get the true A+ stuff which really is its own market.

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Junkdrawer

Junkdrawer

Posted
Posted
yeah, I saw that too. Insaneo!

 

Malvin

it's obvious to me that the guy is expecting you to make an offer. The starting point while nuts, is still a starting point. Because it is so high, it also has gotten your attention too. In the end, it's all about the art and not about who you bought it from.
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