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AuctionWally's price report on eBay auction of North Adams MA antiques estate
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Start it low and let it go. As an auctioneer those words are more than just a short rhyme, they're words I live by.
Often, when I explain that very low starting bids and no reserves are critical elements of a great auction, people eyes often widen and they say I could never sell my items that cheap.
I go on to tell them, I could not afford to sell my items that cheaply as well, but beginning the auction of each item at a low start, with no reserve, is the surest way to get competitive bidding from an excited pool of buyers.
This means, that if you've stuck to the basics, and have a good item, it will bring fair market value at least at auction. Some people get it right away, and some just look at me in disbelief and say, I could never sell my items that cheap.
That means there are 2 kinds of people in the auction world, the ones that don't have the stomach for the roller coaster ride an auction entail, and the ones that have a bit of the gambler in them.
The latter knows that there's a big payoff for selling high quality antiques at auction with low starts and no reserve. They know that it's a "law of averages" game, and that if you sell 10 good quality items at an auction with this strategy, 2 will sell at a very high price, 2 will sell at a low price, and 6 will sell somewhere right in the middle.
The benefit of course is, that you'll likely sell 100% of the lots in a very short time. There is no other sales venue in the world that has that kind of a sell- through rate with those kinds of numbers.
To prove my case, I submit the following price report from a North Adams, MA antiques estate which I've started auctioning on eBay. There are some pretty serious antiques and collectibles in this estate which I'll be selling over the next two months under the eBay user ID "AuctionWally".
Among this weeks offerings are an original 1720 map of New England, an early sampler from 1780 and more. ALL OF THESE ITEMS START AT $9.95. I know some of you are shaking your head, thinking, "he must be nuts". Maybe so, but not for the reasons mentioned above.
Let's take a look at the price report of what some of the wonderful things from this estate sold for at auction last week. All started at $9.95 or lower, no items had reserves. In short, what I call a real auction.
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Edwardian circa late 1800s, jet glass pin and earring set w 75 individually set pearls in 14kt gold.
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Signed Geo. Jensen sterling tulip brooch.$181.00
org 1891 North Adams Blackington Greylock MA Directory $45.75
antique 10kt blue enamel gold fleur de lis brooch pin $34.33
vintage 5 stone Turquoise & 10kt gold ring size 7 $47.50
Men's silver tie clip K Mikimoto w cultured pearls mib $67.00
Large 1.5x1.75 10k gold antique Edwardian belt buckle $144.40
auth antique Edwardian 21 gram 14kt gold bracelet $342.63
2 new old stock sterling silver 18" necklaces & Filenes $9.95
I closed over 50 auctions on Sunday eveing, to see a full price report on those, click here.
For tips on how to title your eBay auctions for maximum profit, click here.
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