ComicLink Auction: Thoughts?

[AKA Rick]

Yeah, nice stuff. My only regret is that my consignment is in the "S", so I won't know ho much house money I have to bid with until that one is over. Most of the stuff I like is before "S"!

 

Malvin

 

The same thing happened to me where if I had a crystal ball, I'd have bought a Dikto on ComicLink after I knew the price of my Kirby.

 

The hardest part of gauging based on current bid prices in there here and now before the auction ends it that most activity occurs in the minute before it closes, so only if your piece has already hit a satisfactory bid, it's always best to be cautious, since I've also seen pieces get no notable activity during the closing minutes too.

 

In part, using the house money approach makes it both easier to spend and in your case (and mine with the D before K), easier to save... 'cuz as we all know, we can't own everything, but if one opportunity is passed over, another one (maybe even better) is just around the corner.

[Bambi 1973-migration]

Like the last one in May I have some 20 pieces up for auction. There's no need to list them as I'm sure everyone on this list is monitoring what they like.

 

The first auction went well enough for me but no great break out sales. I expect much the same here. They are all at no reserve but I haven't put anything up for sale that would cause an earthquake. I've got my eye on half a dozen things but they are beginning to hit levels I don't want to pay... Hopefully something will stay in range..

 

I wish everyone the best and I see that CLink listened to everyone that complained and have shortened this auction to two weeks. Only a few days to go now.

 

Cheers

 

John

[Doc Joe]

Does it seem like there are more items with reserves

a) these days

b) in comic link especially?

 

 

[suspense39]

It does, and I think we will start seeing more in the future

[buyatari]

Does it seem like there are more items with reserves

a) these days

b) in comic link especially?

 

 

I just got an email about this art auction ending in a day and came here to make the same comment.

 

3 items just happen to be sitting at $9,900 exact. All 3 have reserves not yet met.

 

Nothing strange about that at all........

[Claudio]

Comiclink automatically raises the bid to right below the reserve amount. Nothing to be concerned about

[Tokay]

Yes, you can look at the bid history and see the actual bids and how much Clink had to jump it to get just under reserve.

[comix4fun]

Yes, you can look at the bid history and see the actual bids and how much Clink had to jump it to get just under reserve.

 

 

Which is what other auction houses do too.

 

I appreciate the move. There's nothing worse than a hidden reserve to screw with your financial bid planning in advance of an auction. Never knowing what it will take to win, until you actually hit it.

 

Setting the piece one bid below reserve is a service I like. I know what it will take (at minimum) to take a piece home. I know which pieces had reserves set while deep throating a crack pipe as well. That lets me pass on those pieces and concentrate my energy, and money, on other pieces that I might not have had the flexibility to do go after while I was hanging in the wind with a mystery reserve piece.

[malvin]

Does it seem like there are more items with reserves

a) these days

b) in comic link especially?

 

 

I just got an email about this art auction ending in a day and came here to make the same comment.

 

3 items just happen to be sitting at $9,900 exact. All 3 have reserves not yet met.

 

Nothing strange about that at all........

 

Yeah, that's standard practice for many auction houses, including HA. 1 increment below the reserve.

 

Malvin

[Twanj]

Comiclink automatically raises the bid to right below the reserve amount. Nothing to be concerned about

 

yep, it's a feature, not a bug

 

aka, it's that way on purpose. I like it & others seem to as well.

[buyatari]

I don't understand why people would think that this system is better (for bidders) than just starting the min bid on these 3 items at 10k.

 

 

 

[Bambi 1973-migration]

Good luck to everyone tonight (well morning for me in Moscow....)... I've got my eye on a few things but they're beginning to edge towards my limit....

 

Enjoy and bid irresponsibly....

 

John

[vodou]

I view reserves as skittishness in the marketplace.

 

Let me clarify:

 

You see more reserve listings when the pool of consignors is represented by newer buyers/acquisitions. This is not "old" art coming out of black holes (where by definition the cost basis is 1/10th or less of estimated value).

[Twanj]

I don't understand why people would think that this system is better (for bidders) than just starting the min bid on these 3 items at 10k.

 

 

 

"better" is the wrong word to use with ComicLink. barely passable maybe?

[comix4fun]

I don't understand why people would think that this system is better (for bidders) than just starting the min bid on these 3 items at 10k.

 

 

 

 

Allowing the lots to start at $1 or some small minimum number allows the emotional flow of an auction to proceed as if there wasn't a reserve, perhaps exceeding said reserve before reserves are revealed. It gives the consignor the benefit of "auction bidding fervor" while still hedging their bets.

 

Getting people emotionally invested in the bidding..."My, my, my PRECIOUS"-style, is the best way to amp up bids.

 

Also, starting items at a low number allows people interested in the item to place "marker" bids to easily track the items they may want to pursue when there isn't a system like heritage's to easily track items without placing a bid.

[Bronty]

I love the Star Wars cover, but now that the reserve has been revealed, I can safely say that it won't be mine.

 

 

just saw that. Ummm...I agree.

 

Well that's ... disappointing. Wayyy out of my price range at this point.

 

 

25k for a mid run SW doesn't excite?

[rsonenthal]

I love the Star Wars cover, but now that the reserve has been revealed, I can safely say that it won't be mine.

 

 

just saw that. Ummm...I agree.

 

Well that's ... disappointing. Wayyy out of my price range at this point.

 

 

25k for a mid run SW doesn't excite?

 

Reserve not met, right?

[AKA Rick]

Reserves are only good when it's never ever revealed, so that you get these bidders who are trying to test and discover what the tolerance is to then, low and behold, meet the reserve and become the winning bidder.

 

I think if ComicLink just removed the reveal of the reserve where they have a system now that shows a current bid below the reserve and then the next bid meets the reserve, it would do everyone a better service. I think the reveal actually hurts auctions as many bidders may just refrain from being the 1st to cross the threshold and meet the reserve hoping the auction closes without meeting reserve to then negotiation with the buyer and making a lower price offer. It's rare to find a reasonable reserve that's not met by the near close of an auction.

 

I've sold on eBay before with reserves and found it funny when potential bidders contact me with a "what's the reserve?" question - - truth be told, if I wanted everyone to know what the reserve is/was that would be then called "the starting bid" and takes all of the strategy out of utilizing a reserve.

 

So, same here... with ComicLink, they should just let the dice roll as the momentum carries it, and then the seller and marketplace gets a realistic view of the market value to a degree by seeing where bidding falls short with a "reserve not met" status.

 

I think with ComicLink, whose system I enjoy working with, I have a personal strategy based on my experiences of selling without a reserve. My attitude is if I'm not happy rolling the dice with confidence the marketplace will take care of me and I'll be happy for whatever it sells for, then maybe I shouldn't be selling it via their auction. It's worked well for me. It does help psychologically if you're selling items with a low original acquisition cost so even if it sells below expectations you don't sell at a ROI loss, but generally for the Featured Auctions, items are worth at least $300-500+ as their barometer to what they accept to consign, so it's not a dumping ground for mediocre art in any case.

[Tokay]

I love the Star Wars cover, but now that the reserve has been revealed, I can safely say that it won't be mine.

 

 

just saw that. Ummm...I agree.

 

Well that's ... disappointing. Wayyy out of my price range at this point.

 

 

25k for a mid run SW doesn't excite?

 

Reserve not met, right?

 

My guess is that it won't meet reserve.

[zhamlau]

Infantino star wars first run pages sell 2500-4500 dollars from what ive seen. I know its an odd cover (only of the only conceptual covers on the run) but it still an Infantino US published first run cover. Very few of those in existence. I thought it would sell 28k, and i think thats still happening.