The MEARS September 2009 auction was a big success in my eyes. Of course I tend to look at things a bit differently than others in the auction segment of this industry. Those are same folks who might see an auction total of $61,627.00 as nothing worth noting, but then again, these are the same people whose only focus is on the bottom line.
As the Policy Director and one who has been on record publicly for years about the need for reform, this is what I was thrilled about:
MEARS listed some 331 lots as being available. Of those:
68% sold. The other 32% did not draw a single bid. NO bids were placed by MEARS Auctions “just to get the action started.”
Of those 68% or 225 lots that did sell, 39% of them went by way of a single bid. Once again, if you make a bid at the listed minimum in a MEARS Auction and no other LEGTIMATE BIDDER bumps you, the item is yours. It’s just as simple as that.
Because MEARS’ Auctions does not bid on items in our own venues and prohibits employees from doing so as well, collectors who placed MAX bids on items will be happy to know that some $2207.00 was left on the table. This would have been an increase of at least 3.5% of the total. I say “at least” because it is my firm belief that “in house” bidding on items has led to excessive payouts by collectors who may have been duped into coming back and re-bidding out of fear of missing out. Another thing I was happy to see was both the number of new bidders in this auction and the number of new collectors who registered for it.
My congratulations to all the winning bidders and my thanks and appreciation for those of you who placed bids. Your interest in registering and bidding tells me you value the opportunity to participate in an honest and transparent venue. If you enjoy bidding in auction’s that have these as their operating rules and business principles:
“The auctioneer or its affiliates may consign items sold in the auction, and may bid on those lots or any other lots.”
“A reserve price is the confidential minimum amount below which the consignor of the lot will not sell the property. We may implement such reserve by bidding on behalf of the consigner and may bid up to the amount of the reserve, by placing successive or consecutive bids for a lot, or in response to other bidders. In instances where we have an interest in the lot other than our commission, we may bid up to the reserve to protect such interest.”
“Reserve bids may be executed on cataloged lots on behalf of the seller and shall be executed in a manner similar to the execution of absentee bids.”
Then I am more than happy to disappoint you as this is not what MEARS Auctions is all about.
In parting, while our focus is on the December Auction, we will run an event in October from the 20th through October 29th. Highlites will include:
A Game Worn/Used NBA jersey and shoe collection featuring several members of the NBA 50 greatest.
A Game Used Bat collection featuring several Bi-Centenniel examples.
Vintage oversize turn of the century football cabinet photos.
A Mint Ford Frick salesman sample baseball.
As well as pinback buttons, vintage photos, and 500 lots of new to the hobby memorabilia.
As always, collect what you enjoy and enjoy what you collect.
MEARS Auth, LLC
For questions and comments on this article, please feel free to drop me a line at DaveGrob1@aol.com