First, let me start off by saying that I am not interested in the
price of Horror and Science Fiction. As it turns out, I can send my
daughter to the University of Colorado for 4 years for about $50,000
and would rather do that than own a great horror one sheet (except for
"The Invisible Man" -- for that I would gladly send her to community
college).
Second, let me say, that I truly enjoy the Heritage Auctions -- as a
bidder (both as a winner and a loser), and an occasional consignor, I
have never been in any way disappointed. Ever.
Thirdly, I didn't get a change to watch the auction online, except for
a odd portion of cartoon posters in the middle -- which I thought had
a pretty tough time of it.
So I looked at the prices and estimates of the 43 posters between lots
28435 - 28477. And I made the following ridiculous assumption -- that
the catalog estimate was what Bruce (C not H) and Grey at Heritage
think the poster was worth. I am willing to give them the benefit of
the doubt here (because to assume that they would elevate the
estimates to attempt to coerce the buyer to pay more than the value of
the poster would be dishonest). However, I will suggest that the
catalog estimate estimates the hammer price -- that the whopping 19.5%
on top of that is NOT included. I claim this, because, as the
auctioneer rattles off the call (hummuhna hummuhna do i have five
hunnerd an fitty hummuhna etc..), he does not include a (anna dontcha
forget that hummahuna hummahun nineteen point five percent hummahuna
etc.) Not to mention, if the catalog boosted the estimates by the
premium, the estimates would look ridiculous.
Now, I've known Bruce and Grey for years. In fact, Bruce sold me my
first poster ($15 Mr. Hobbs Takes a Vacation (Insert)). And between
them, they have a mess of years in the business. And if they say a
poster is worth between 500-1000, I suspect that the poster is
probably worth between 500-1000. However, in the 43 lots in this
section, 29 (67%) hammered for less than the estimate, 8 (%19)
hammered within the estimate, and 6 (%14) above the estimate. This
suggest (to me) that something is amiss. It even worse if you look
just at the 28 posters between 28435 - 28462 where, 21 (75%) sold for
less that the estimate, 2 (7%) within, and 5 (18%) above.
So, how can anyone explain this? How can they be correct so
infrequently? I came up with a variety of explanations. E.g., the
market for all animation poster is the tank; eBay is effecting other
auction house prices; buyers less willing to accept estimate as
"real"; collectors are concentrating on key titles at the peril of the
all lesser titles; buyers reluctant cough up 19.5% BP; realization
that the quantity of posters on the market is huge; the demographics
of the collectors is changing resulting in some dramatic change
(downward) in values of some areas of the hobby. All of which I think
are true to some extent. However, nothing could explain how a 101
dalmations 6 sheet would sell for the price of the linenbacking!
Just some thoughts late on a Sunday night.
Enjoy.
Evan
----------------------------------------------------------------------
Here are the numbers.
- 28435 Springtime Sold For: $3,585.00 Estimate: 6000-8000
- 28436 Education for Death Sold For: $1,195.00 Estimate: 2000-4000
- 28437 Serial The Moth and the Flame Sold For: $478.00 Estimate: 500-1000
= 28438 The Country Cousin Sold For: $567.63 Estimate: 500-700
- 28439 Funny Little Bunnies Sold For: $388.38 Estimate: 600-1000
- 28440 Hooked Bear. Sold For: Passed Estimate: 500-800
+ 28441 Pedro Sold For: $1,135.25 Estimate: 500-800
- 28442 The Pelican and the Snipe Sold For: $507.88 Estimate: 700-1000
- 28443 101 Dalmatians Sold For: $478.00 Estimate: 800-1200
+ 28444 Alice in Wonderland Sold For: $1,673.00 Estimate: 900-1500
= 28445 Bambi Sold For: $3,107.00 Estimate: 3000-6000
= 28446 Fantasia Sold For: $3,107.00 Estimate: 3000-5000
- 28447 The Jungle Book Sold For: $203.15 Estimate: 300-600
- 28448 Lady and the Tramp Sold For: Passed Estimate: 600-800
- 28449 Peter Pan Sold For: Passed Estimate: 700-1200
- 28450 Peter Pan Sold For: $597.50 Estimate: 600-800
+ 28451 Pinocchio Sold For: $2,629.00 Estimate: 1000-1500
+ 28452 Sleeping Beauty Sold For: $2,868.00 Estimate: 1000-1500
+ 28453 Father's Weekend Sold For: $1,434.00 Estimate: 500-800
- 28454 Get Rich Quick Sold For: $836.50 Estimate: 1000-2000
- 28455 How to be a Detective Sold For: $836.50 Estimate: 1000-1500
+ 28456 Magician Mickey Sold For: $33,460.00 Estimate: 15000-25000
= 28457 Mickey Mouse Stock Poster Sold For: $11,950.00 Estimate: 10000-15000
= 28458 The Little Whirlwind Sold For: 717.00 Estimate: 700-1000
= 28459 Dick Whittington's Cat Sold For: $836.50 Estimate: 800-1200
- 28460 Jack Frost Sold For: $1,015.75 Estimate: 1300-1400
- 28461 Tom Thumb Sold For: $836.50 Estimate: 1200-2000
- 28462 Popeye Stock Poster Sold For: $328.63 Estimate: 500-700
+ 28463 Terry-Toon Stock Sold For: $657.25 Estimate: 300-500
= 28464 Betty Boop and Bimbo Lot Sold For: $430.20 Estimate: 300-600
- 28465 Walt Disney's Sill Symphonies Sold For: Passed Estimate: 500-700
= 28466 King-Size Canary Sold For: $2,151.00 Estimate: 1500-2500
+ 28467 The Screwy Truant Sold For: $2,390.00 Estimate: 1000-2000
= 28468 The Cat and the Mermouse Sold For: $1,195.00 Estimate: 1000-1500
= 28469 Dog Trouble Sold For: $1,673.00 Estimate: 1500-2000
- 28470 Jerry's Cousin Sold For: $776.75 Estimate: 1000-1500
- 28471 Looney Tunes Sold For: $1,075.50 Estimate: 1800-2400
- 28472 Warner Brothers Cartoon Stock Sold For: $507.88 Estimate: 600-1000
= 28473 The Greener Yard Sold For: $1,792.50 Estimate: 1500-2500
- 28474 The New Neighbor Sold For: $717.00 Estimate: 800-1200
= 28475 Out of Scale Sold For: $1,135.25 Estimate: 1000-2000
= 28476 Canvas Back Duck Sold For: $896.25 Estimate: 800-1500
= 28477 Donald's Golf Game Sold For: $2,151.00 Estimate: 1500-2500
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