Are auction prices down?

[DrDan]

Unfortunately, I am selling an antique collection (my mothers estate) at an auction on November 7th & 8th. We had a preliminary taste of how it might go yesterday. Had 23 pieces of pottery that were valued at $18,000 sell for $7900.
Does anyone on here go to such sales and have they found prices to be down?

Don't know what to do. Could put the items in storage, but who knows - the economy could get worse yet!

Oh well never got anything I didn't earn yet!

Dr Dan

 

[Anonymous Poster]

Auction prices are a bit off right now, but then, so are bank intrest rates and gasoline prices.
The biggest governing factor in auction prices is the auctioneer. Every auctioneer has built a reputation for himself, as well as a following of buyers. Around here, different auctioneers draw different crouds. Best advice is to go to several different auctions before you hire the one to sell your stuff. A good auctioneer can tell you within 10% what something's gonna bring, before the auction. With auctioneers, you definitely get what you pay for.

 

[gws]

I go to a number of "home auctions" Everything from estate sales to to going to FLA, got to sell it sales.
Prices vary from week to week. You just have to find the right couple of people willing to buy. You have to keep in mind, The value of something is determined by the buyer, not the seller. No, book or expert can tell you what something is worth. I have seen great looking items sell for thousands of dollars, then the next week a similar piece selling under $100.

If you want top dollar, you need to advertise the high dollar items. Get the info into the hands of people who might want them. The local newspaper may not be the best place. call local dealers and them them know.



Gary.

 

[DrDan]

Thanks guys... With all the crap that is going on in the country right now, I am a little apprehensive. I have a good auctioneer with the ability to draw a good crowd (I don't generally buy at his sales - too expensive). I guess I can just keep my fingers crossed. If anyone knows of others that are in the market for nice primitive early American antiques send them to the website where I have pictures of the items.

http://www.dr-dan.com/lillian.htm

Thanks

Dr Dan

 

[Blu21]

Dr.Dan, I see from your bio that you are in Ohio. Here in N.E.Ohio there is a auctioneer handles mostly fine antiques, he has a website www.definaauctions.com . The website is not totally finished but there is a contact link if you are interested. Just a thought. Tom

 

[RichZ]

Dr. Dan, I am an antique dealer, and I both buy and sell at auctions. Prices at an auction house can vary from week to week because of the crowd that shows up. You have to make sure that the auctioneer advertises in the proper publications to showcase your pieces. It's always hard to say whether auction prices are up or down. All you need are two people interested in the same piece and willing to pay for it. Proper advertising should help create that situation.

Rich

 

[EdDekker]

DrDan,

Have you thought about putting items from the estate up on ebay? You have the collection cataloged with online pictures so the hard part is done. Ebay gives you a national (or international) auction that is less subject to the turnout at a particular auction house.

I have a friend who writes for the car magazines. He auctions off everything from the calenders that the car companies send him to his old McMaster Carr catalogs, to the unidentifiable pieces of junk from cleaning his basement. Ebay tends to be a sellers market ($20 plus shipping for a 5 year old McMaster Carr catalog).



Ed

 

[DrDan]

Rich,

You better put that sale on your calander. It is November 7th and 8th. You can get a catalog of the items from www.randyclarkauctions.com It's gonna be a good one. My folks had some really nice pieces.

Dr Dan

 

[Duckhunter]

Going through the same thing. Our sale is first 2 weekends in November. Not using auction, just walk through sale. We are holding the good stuff out and will post it on E Bay. Also advertise stuff like pianos, appliances, guns etc in want ads. Buyers are there everyday looking. Don't wait for them to walk through accidently.
My 2 cents worth...

 

[RichZ]

Dr.Dan, I should have elaborated more about appraisals. Appraisals can be very misleading. Appraisers often give you the "book value" on antiques and collectibles. Antique collectors very seldom are willing to pay full value. Even in retail antique shops, most buyers expect a significant discount. In my own shop, when a customer asks for a discount (as 90% of them do) I usually discount the ticket price by 20%. If they still want a better price, and I can still make a profit, I usually have to discount it further. The same situation exists at auctions. Unless a collector is desperate for a piece, they are unlikely to pay a "book value" price, such as you get on an appraisal. Must appraisers act like the values they give you are cut in stone, but with antiques and collectibles, the value is whatever someone is willing to pay for it. That's why there is really no good or bad time to have an auction. If it's advertised properly, and you get enough people who want your stuff, than it's worth more. I hope that makes you feel better. To a degree, any auction is always a roll of the dice. You have to advertise well to increase the odds in your favor.

Good luck!!

Rich