February Heritage Auction Really Shaping Up! 2 2

[batman_fan]

27 minutes ago, J.Sid said:

....Hmmm. Does that mean "next bid wins" on a lot of these?

Every night before I go to sleep I pray the stock market crash spooks people that would be bidders on stuff I am interested in.  

[Bronty]

31 minutes ago, batman_fan said:

Every night before I go to sleep I pray the stock market crash spooks people that would be bidders on stuff I am interested in.  

Gene wants to wash your mouth out with soap

[Rick2you2]

33 minutes ago, batman_fan said:

Every night before I go to sleep I pray the stock market crash spooks people that would be bidders on stuff I am interested in.  

I think we are looking at the latest version of a “swine flu” panic, but in the age of the internet and the herd instinct, things look much worse than they are.

[batman_fan]

10 minutes ago, Rick2you2 said:

I think we are looking at the latest version of a “swine flu” panic, but in the age of the internet and the herd instinct, things look much worse than they are.

That would be my take as well although this one seems to have a longer lag from contagious to outward signs you are ill.

Great buying opportunity though

[AnkurJ]

2 hours ago, delekkerste said:

Nothing to worry about!  With no mark-to-market in OA, we can all pretend be confident that our art is holding steady in value this month.  Heck, I might even revalue some of my artwork higher - you know, "flight to quality" and all that, given all the awesome stuff I own.  

I’m assuming this only applies to Vampirella art? 🤔

[grapeape]

On 2/13/2020 at 5:50 AM, jjonahjameson11 said:

So, if a Byrne X-Men page containing wolverine with claws out and 'snikt' sound effect commands a $5K premium, what kind of premium will Drusilla's double D's command?

If D= 1 is Drusilla and DD 2500x2

Then

D(DD) + BP = X
1(5000) + 20% = 5000 + 1000

X = $6000

 

 

[batman_fan]

2 hours ago, grapeape said:

If D= 1 is Drusilla and DD 2500x2

Then

D(DD) + BP = X
1(5000) + 20% = 5000 + 1000

X = $6000

 

 

shouldn't there be a divide by pi in their?  preferably Apple?

[grapeape]

1 hour ago, batman_fan said:

shouldn't there be a divide by pi in their?  preferably Apple?

Ha ha I’m sure you’re right 

[tth2]

11 hours ago, batman_fan said:

Every night before I go to sleep I pray the stock market crash spooks people that would be bidders on stuff I am interested in.  

Me too, but it really didn't impact bidding back in 2008-09.  Gene claims that prices were down, and maybe they were a bit, but I didn't see screaming bargains.

Stocks and real estate dropped way more than comics and OA ever did.

Edited February 29, 2020 by tth2

[tth2]

Reserves have been triggered and there are some pretty high expectations on the part of the consignors:

Ditko ASM #32 pp 12-13: $228k

Frazetta "Swordsmen in the Sky": $180k (if someone is willing to pay this much for a Tier Z Frazetta piece, then there is clearly way too much money sloshing around the world today)

Kirby FF Annual #1 Hulk pin-up:  $180k

Steranko CA #111 pp 12-13:  $180k (this ended any interest I had in the piece)

I'm noticing a trend here. 

So who thinks any of these reserves will be met, and which ones?

[batman_fan]

45 minutes ago, tth2 said:

Me too, but it really didn't impact bidding back in 2008-09.  Gene claims that prices were down, and maybe they were a bit, but I didn't see screaming bargains.

Stocks and real estate dropped way more than comics and OA ever did.

Thanks for ruining my fantasy, Oh well I guess it is back to Zoe Saldana 

[GreatEscape]

7 hours ago, tth2 said:

Reserves have been triggered and there are some pretty high expectations on the part of the consignors:

Ditko ASM #32 pp 12-13: $228k

Frazetta "Swordsmen in the Sky": $180k (if someone is willing to pay this much for a Tier Z Frazetta piece, then there is clearly way too much money sloshing around the world today)

Kirby FF Annual #1 Hulk pin-up:  $180k

Steranko CA #111 pp 12-13:  $180k (this ended any interest I had in the piece)

I'm noticing a trend here. 

So who thinks any of these reserves will be met, and which ones?

I guess $180k is the new $65k.   I wish auctions would post reserves earlier to bidders can sense if these pieces are in play or not.  If the overly-optimistic reserves aren’t met (one might have a chance IMO), everyone wins:  Heritage gets additional prestige/publicity for the auction, these consigners get essentially a free gallery exhibition and slick catalog to anchor private sale negotiations post-auction, other consigners benefit from the shifting attention (and hopefully money) to their non-reserve lots, and the hobby gets to see extraordinary pieces that otherwise are locked away largely outside public view.  

By definition, the reserve (or reservation price) is the minimum amount that a seller would accept, initially to “protect the seller’s investment” but more often a bait price to attract a “clearing bid” at an above-market price.  Personally, I’d love to see these premium pieces enjoy spirited bidding where the market ultimately dictates value and who the new owners will be. 

[tth2]

1 hour ago, GreatEscape said:

By definition, the reserve (or reservation price) is the minimum amount that a seller would accept, initially to “protect the seller’s investment” but more often a bait price to attract a “clearing bid” at an above-market price.

Exactly.  I don't necessarily mind reserve prices if they're realistic and just set to ensure the seller at least gets a relatively FMV price.  But it's irritating when they're set at prices that reflect a pie-in-the-sky expectation by the seller.

I was very interested in the Steranko piece, for example.  But not $180k interested.

1 hour ago, GreatEscape said:

Personally, I’d love to see these premium pieces enjoy spirited bidding where the market ultimately dictates value and who the new owners will be. 

 

 

 

[Bronty]

Look consignors are going to do whatever they can to get what they feel is the best situation for themselves.    You aren’t going to change that.   All you can do is hope that the house ferrets out any unrealistic reserves and doesn’t accept them.    Personally I think say 3 of 4 of those will be met despite the high reserves 

[vodou]

52 minutes ago, tth2 said:

I was very interested in the Steranko piece, for example.  But not $180k interested.

It was a "pass" last summer when it was shown for $200k cash (iirc, Gene can correct me!)

$180k + shipping (risk unless you cash n' carry) + sale tax (for many, if not all) is less appealing. Isn't it?

23 minutes ago, Bronty said:

All you can do is hope that the house ferrets out any unrealistic reserves and doesn’t accept them.

See above.

Which doesn't mean it (and the others) won't meet/exceed the reserve, not everybody goes to cons or is comfortable buying outright directly instead of against "the market".

As it turns out, those reserves are protection that may be needed if well-qualified buyers do not show up in quantity this time due to external conditions

[grapeape]

9 hours ago, tth2 said:

Reserves have been triggered and there are some pretty high expectations on the part of the consignors:

Ditko ASM #32 pp 12-13: $228k

Frazetta "Swordsmen in the Sky": $180k (if someone is willing to pay this much for a Tier Z Frazetta piece, then there is clearly way too much money sloshing around the world today)

Kirby FF Annual #1 Hulk pin-up:  $180k

Steranko CA #111 pp 12-13:  $180k (this ended any interest I had in the piece)

I'm noticing a trend here. 

So who thinks any of these reserves will be met, and which ones?

Who’s going to stand up and protect the Frazetta investment position?

I worry about so many reserves. The ASM pages are valued about 95 K each under this set reserve. That’s a bit higher than recent auction performances but not out of the realm of possibility. The challenge is these 2 pages finding the wallet to handle them both. 38 K BP is daunting. Add sales tax if you’re not a dealer.....Still, It’s not fair to hedge my bet so I will say someone will come through and meet that reserve. Probably with money taken out of this panicked stock market

The Hulk is a great piece. I hope it triggers the reserve but I’m betting against it.

Reserves can be auction enthusiasm killers. However the Wrightson Frankenstein art recently cleared a very high bar. An extraordinary example for sure. It is possible in these times a reserve wipes out thrill bidders and helps the eventual winner feel comfortable with their personal evaluation being in line with the consignors ask.

The volatile stock market as a back drop to this upcoming auction makes for delicious drama.

[delekkerste]

1 hour ago, tth2 said:

I was very interested in the Steranko piece, for example.  But not $180k interested.

 

$180K is down from the previous $225K asking price - how much more of a discount do you need? 

[artdealer]

1 hour ago, tth2 said:

Exactly.  I don't necessarily mind reserve prices if they're realistic and just set to ensure the seller at least gets a relatively FMV price.  But it's irritating when they're set at prices that reflect a pie-in-the-sky expectation by the seller.

I was very interested in the Steranko piece, for example.  But not $180k interested.

 

 

 

Where were you guys when I had the Steranko for sale?

[tth2]

51 minutes ago, delekkerste said:

$180K is down from the previous $225K asking price - how much more of a discount do you need? 

It's the same way that the local media here reports sales of properties to try to indicate that there is flexibility in prices, by reporting that a flat sold for $X less than the asking price, without noting that the asking price was bananas and the so-called lowered sale price is still 30% higher than comparable properties a year ago. 

[tth2]

23 minutes ago, artdealer said:

Where were you guys when I had the Steranko for sale?

If a tree falls in a forest and no one is around to hear it, does it make a sound?