When the Auction Reserves Kick In..... 0

[comix4fun]

One of the most entertaining moments in any auction cycle, for me anyway, is the moment when the reserve prices are revealed.

It's a little window into the mind of the consignor and, for anyone tracking and/or paying attention closely, how the consignor's hopes align with how the piece is received/perceived by the bidding public. 

I was tracking this lot since the Heritage August Signature auction was posted, as I am a fan of 80's giant-robot-japanese-anime-tied-into-toy-and-merch-sales-artwork, just to see what something like this would go for. It's a little bit different than what we normally see from a Heritage Comic Art offering....

https://comics.ha.com/itm/original-comic-art/paintings/go-nagai-psycho-armor-govarian-anime-painting-original-art-knack-productions-c-1980s-/a/7189-92144.s?type=bidnotice-tracked-dailystatus

With less than a week to go it was sitting at $220 based on regular bidding.

The reserves were revealed a couple days ago and the all-in reserve is set to :drum roll:  $34,800

This is, by far, the largest spread between pre-reserve bidding and set reserve I have ever seen from any of the comic art auctions I have been tracking over the last 26-27 years. It would have been interesting to see where the bidding would have organically run its course. Now, however, it seems like a "one and done" scenario on bidding potentially. 

Edited July 29, 2018 by comix4fun

[alxjhnsn]

Up to $29K now. I guess people were holding back until the reserve was shown  

Edited July 29, 2018 by alxjhnsn

[AnkurJ]

12 minutes ago, alxjhnsn said:

Up to $29K now. I guess people were holding back until the reserve was shown  

29k with the BP is $34,800.

[Panelfan1]

Interesting that it was in the display case at sdcc marked with an estimated auction price of 29k. So clearly now we know where that # came from. I was wondering  how it could have such a high estimate given the bidding was around $200.

Also interesting how 2 different boardies saw the price. One with BP and one without. It goes to show that the BP as a separate line item is not always captured/easily recognized by bidders - even though most folks on here say the BP is not a factor since they always factor it in.

.

[tth2]

11 hours ago, alxjhnsn said:

Up to $29K now. I guess people were holding back until the reserve was shown  

 

That is the reserve price.  No one has triggered it yet.

[tth2]

12 hours ago, comix4fun said:

One of the most entertaining moments in any auction cycle, for me anyway, is the moment when the reserve prices are revealed.

It's a little window into the mind of the consignor and, for anyone tracking and/or paying attention closely, how the consignor's hopes align with how the piece is received/perceived by the bidding public. 

I was tracking this lot since the Heritage August Signature auction was posted, as I am a fan of 80's giant-robot-japanese-anime-tied-into-toy-and-merch-sales-artwork, just to see what something like this would go for. It's a little bit different than what we normally see from a Heritage Comic Art offering....

https://comics.ha.com/itm/original-comic-art/paintings/go-nagai-psycho-armor-govarian-anime-painting-original-art-knack-productions-c-1980s-/a/7189-92144.s?type=bidnotice-tracked-dailystatus

With less than a week to go it was sitting at $220 based on regular bidding.

The reserves were revealed a couple days ago and the all-in reserve is set to :drum roll:  $34,800

This is, by far, the largest spread between pre-reserve bidding and set reserve I have ever seen from any of the comic art auctions I have been tracking over the last 26-27 years. It would have been interesting to see where the bidding would have organically run its course. Now, however, it seems like a "one and done" scenario on bidding potentially. 

Heritage usually tries to dissuade consignors from putting in reserves, but if they insist on having a reserve, then at least tries to persuade them to put in a reasonable reserve.  

I'm guessing in this case that the relatively unusual nature of this piece justified having a reserve, and that the consignor either had enough leverage to force Heritage to accept such a high reserve or was able to provide some evidence (e.g., private transactions or foreign transactions) of the market value to convince Heritage to accept it.

You're correct that it's unfortunate that if the reserve is never triggered, or even if it is triggered, we won't get a true sense of the strength and depth of the bidding.  But that happens with virtually every Frazetta painting put up on Heritage, where we see some not-truly-indicative bidding up to the reserve date, and then a one-and-done.