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Buyers remorse or shilling gone wrong?

Started by Panelfan1,

16 posts in this topic

malvin

malvin

Posted
Posted
Would love your opinions.

 

Right after the Clink auction ended the other night, several pieces showed up in the Clink exchange. This got me to wonder - is it buyers remorse? Or is it evidence of shilling gone wrong? And now they are trying to move the art? +i.Genre&ODire3=ASC'>see art here

 

I wasn't paying attention to those, are you sure those met reserve and sold?

 

Malvin

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Panelfan1

Panelfan1

Posted
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Posted
The Jae Lee covers are just being flipped, they finished kind of low, especially the Batman/Joker cover. Those prices are above what they sold for.

 

What you say is possible - but as a buyer I put a lot of value on auctions as a barometer on pricing. If an item sold for a price -that price is not too low. It was set on the open market. It was the right price for that moment in time. 30 minutes after the auction seems too soon to flip?

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vodou

vodou

Posted
Posted
What you say is possible - but as a buyer I put a lot of value on auctions as a barometer on pricing. If an item sold for a price -that price is not too low. It was set on the open market. It was the right price for that moment in time.

Being a general contrarian and risk manager, my takeaway from any auction result is a bit less rosy (perma-bullish)...I'd say it only tells you that (for that moment in time) nobody that was ready and willing was willing to pay more (inclusive of fees, taxes, shipping -which are not level for all potential players!) And then applying that to comps (and I'm extending here, I know OP didn't go here) -one should allow some cushion in both directions (but especially bearish) in that these are not houses in the same neighborhood. Every original is unique across the same book, same character, same story arc, same artist, same genre and period, etc etc etc.

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The-Collector

The-Collector

Posted
Posted
The Jae Lee covers are just being flipped, they finished kind of low, especially the Batman/Joker cover. Those prices are above what they sold for.

 

What you say is possible - but as a buyer I put a lot of value on auctions as a barometer on pricing. If an item sold for a price -that price is not too low. It was set on the open market. It was the right price for that moment in time. 30 minutes after the auction seems too soon to flip?

 

Not all the time as the market isn't perfect.

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buyatari

buyatari

Posted
Posted
The Jae Lee covers are just being flipped, they finished kind of low, especially the Batman/Joker cover. Those prices are above what they sold for.

 

What you say is possible - but as a buyer I put a lot of value on auctions as a barometer on pricing. If an item sold for a price -that price is not too low. It was set on the open market. It was the right price for that moment in time. 30 minutes after the auction seems too soon to flip?

 

You do allow for buyer's remorse. In such a case you might argue that the price was too high. So if you allow for that then you have to allow for the opposite.

 

Someone who was willing to bid didn't see it, got cold feet, was away, computer lost power, forgot to bid, spent the money on an earlier auction, was saving the money hoping to win a later auction and lost etc etc etc.

 

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mister_not_so_nice

mister_not_so_nice

Posted
Posted
The Jae Lee covers are just being flipped, they finished kind of low, especially the Batman/Joker cover. Those prices are above what they sold for.

 

What you say is possible - but as a buyer I put a lot of value on auctions as a barometer on pricing. If an item sold for a price -that price is not too low. It was set on the open market. It was the right price for that moment in time. 30 minutes after the auction seems too soon to flip?

 

Not all the time as the market isn't perfect.

 

I've seen more than one thread within 24 hours of the auction closing saying "If you're the winner of page XXX, please contact me"

 

It's hard to fathom, but not everyone lives comic OA 24/7

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IngelsFan

IngelsFan

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Posted

Just my take on this, but I feel like the overload of quality auctions results in a lower price than you would see in a market with fewer regular auctions. I'm guilty of it myself. The price that some of the art (not to mention comics as well) finished at in this auction was unreal. The Ditko pre-hero splash hammered over $12k the last time it was auctioned (2014), but only hit mid $6k this round, and that's just one example that comes to mind. I was really stoked to try to grab this piece, then something I want even more showed up in a preview (for a December auction). Most of us have a finite budget and while the cap on that might vary, my annual amount that I spend is pretty consistent, whether it's on a stack of art or one big piece. This much competition for my $$ means I spend less on average per auction when there are more auctions in the mix. Even Heritage has had pre code Atlas horror original art in thier weekly internet auctions, so I have to have a ready reserve of money just in case something cool comes up that I wasn't ready for!

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comix4fun

comix4fun

Posted
Posted
true, technically it is an attempted flip until it sells.

 

Malvin

 

 

Those are the most entertaining...usually.

 

 

1287429947_swing-flip-fail.gif

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COMICLINK

COMICLINK

Posted
Posted
Just my take on this, but I feel like the overload of quality auctions results in a lower price than you would see in a market with fewer regular auctions. I'm guilty of it myself. The price that some of the art (not to mention comics as well) finished at in this auction was unreal. The Ditko pre-hero splash hammered over $12k the last time it was auctioned (2014), but only hit mid $6k this round, and that's just one example that comes to mind. I was really stoked to try to grab this piece, then something I want even more showed up in a preview (for a December auction). Most of us have a finite budget and while the cap on that might vary, my annual amount that I spend is pretty consistent, whether it's on a stack of art or one big piece. This much competition for my $$ means I spend less on average per auction when there are more auctions in the mix. Even Heritage has had pre code Atlas horror original art in thier weekly internet auctions, so I have to have a ready reserve of money just in case something cool comes up that I wasn't ready for!

 

The Ditko Astonish splash had a reserve in the teens that was not met the last time around so didn't sell, and the closing price then was lower than the closing price in this auction.

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