25% buyers premium is highest I have ever seen, I wanted to bid on several items but calculating that extra 25% killed it for me. Michael Farmer
Sent from my iPhone On Oct 14, 2012, at 7:33 PM, Yinan Wang <[email protected]> wrote: > No one forced anyone to participate. > > If something didn't sell, chances are it's because it had a high > reserve set by the seller. When you set a high reserve, you run the > risk of having no buyers, just like in any market. > > I'd say a photo fee and shipping is a low price to pay for a chance to > sell something to a large audience for several times what its worth. > > -Yinan > > On Sun, Oct 14, 2012 at 9:23 PM, Michael Farmer <[email protected]> wrote: >> It is a train wreck for the suppliers who had to pay to put the items in, >> ship them from Europe and elsewhere, and pay to ship them back! >> Michael Farmer >> >> Sent from my iPhone >> >> On Oct 14, 2012, at 7:21 PM, Yinan Wang <[email protected]> wrote: >> >>> No offense intended, but how do you interpret this auction as a train wreck? >>> >>> Having worked in the natural history auction industry, this was a very >>> good auction for everything except the high priced pieces. From what I >>> observed, the sell-through rate was probably over 80%, which is great >>> for a natural history auction. Many of the lower and middle ranged >>> items went for 3-10 times the market price. >>> >>> High priced meteorites in general don't seem to sell often at auction. >>> For example, the Willamette was very well marketed last year but did >>> not sell at $650,000. Looking at past auctions, it seems $90,000 to be >>> the top price for a meteorite sold at auction in the past few years, >>> at least with this auction house. >>> >>> Personally I think the market for extreme high end meteorites may not >>> be well established in auction houses yet. Yes, someone will (and has) >>> shell out up to 2 million for a dinosaur at auction but won't do the >>> same for a meteorite. >>> >>> -Yinan >>> >>> >>> >>> On Sun, Oct 14, 2012 at 9:08 PM, Adam Hupe <[email protected]> wrote: >>>> I think the timing of this auction during the middle of a political >>>> campaign might account for the train wreck witnessed today or the economy >>>> is worse off then anybody could imagine. Prices were all over the place, >>>> some excellent, some poor but not a single item exceeded $50,000.00 even >>>> with the huge buyer's premium in place. A few of my friends watched parts >>>> of this auction on CNN and thought many of the descriptions should have >>>> been based on the importance of the items instead of comparing them to >>>> famous artwork. >>>> >>>> All of the big auction houses are struggling right now from what I have >>>> read. Hopefully things will settle back down after the election. >>>> >>>> Best Regards, >>>> >>>> >>>> Adam >>>> ______________________________________________ >>>> >>>> Visit the Archives at >>>> http://www.meteoritecentral.com/mailing-list-archives.html >>>> Meteorite-list mailing list >>>> [email protected] >>>> http://six.pairlist.net/mailman/listinfo/meteorite-list >>> ______________________________________________ >>> >>> Visit the Archives at >>> http://www.meteoritecentral.com/mailing-list-archives.html >>> Meteorite-list mailing list >>> [email protected] >>> http://six.pairlist.net/mailman/listinfo/meteorite-list ______________________________________________ Visit the Archives at http://www.meteoritecentral.com/mailing-list-archives.html Meteorite-list mailing list [email protected] http://six.pairlist.net/mailman/listinfo/meteorite-list
