I agree 100%
Sent from a handheld, so please excuse terseness and typos.
On Oct 14, 2012, at 6:52 PM, Greg Hupé <[email protected]> wrote:
I LOVE these high profile auctions as they illustrate just how great
of a deal us real 'every day' meteorite dealers are offering our
material for. NO seller premiums, NO hype... Just good old-fashioned
deals for collectors who work hard for their purchases!!
Best Regards,
Greg
====================
Greg Hupé
The Hupé Collection
[email protected]
www.LunarRock.com
NaturesVault (eBay & Facebook)
http://www.facebook.com/NaturesVault
IMCA 3163
====================
Click here for my current eBay auctions:
http://search.ebay.com/_W0QQsassZnaturesvault
-----Original Message----- From: Michael Farmer
Sent: Sunday, October 14, 2012 9:39 PM
To: Yinan Wang
Cc: Adam
Subject: Re: [meteorite-list] Heritage auction
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
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