[meteorite-list] Auction Kings meteorite - $2000 Sikhote Alin

From: Thunder Stone <stanleygregr_at_meteoritecentral.com>
Date: Fri, 23 Mar 2012 15:25:23 -0700
Message-ID: <DUB0-P1-EAS505420A5551B196216C527D2460_at_phx.gbl>

I've seen this show a number of times and there was no reserve, for some reason there just was a lot of bidding.
Greg S

-----Original Message-----

From: Count Deiro
Sent: 23 Mar 2012 21:54:25 GMT
To: MexicoDoug,meteoritemike at gmail.com,meteorite-list at meteoritecentral.com,meteorite-list at meteoritecentral.com
Subject: Re: [meteorite-list] Auction Kings meteorite - $2000 Sikhote Alin

Hi List,

Most auctioneers and auction bidders wouldn't be able to tell a meteorite from a charcoal briquet. I think the rock in question sold cheap. The seller could have put $2,000 as the reserve and those bidders would have slugged it out to an even higher figure. Why do I say that? Because what they did proved They didn't know market prices, so they were being motivated by mystique, the Public misconception of value due to popular media BS... and finally...good ole competition between each other. Seen it happen a hundred times. It will keep happening until we screw it up by flooding the small auction houses with meteorites and telling everyone when they have paid too much.

And if it bothers you to see someone pay more for something than you would. Then ask yourself...Am I upset because I could have been the seller and made that killing? Or am I upset because somebody made a bad buy? I thought so.

Regards,

Count Deiro
IMCA 3536


-----Original Message-----
>From: MexicoDoug <mexicodoug at aim.com>
>Sent: Mar 23, 2012 12:43 PM
>To: meteoritemike at gmail.com, meteorite-list at meteoritecentral.com
>Subject: Re: [meteorite-list] Auction Kings meteorite - $2000 Sikhote Alin
>
>Mike G wrote:
>
>"He opens it and brings out a Sikhote Alin shrapnel about the size of a
>grapefruit."
>
>"I'd guess the piece would sell on the meteorite market or eBay for
>about $250-$300. The owner's desired price of $1000 seemed unrealistic
>to me."
>
>Mike, very entertaining! I think I will start meteorite hunting on
>eBay. I sure would be easier than in the field if what this is true.
>A Sikhote the size of a grapefruit, if we use the United States
>Department of Agriculture's (USDA) definition for an average pink
>grapefruit size, is ...
>
>3.61 kg.
>
>So less eBay and paypal commissions, we must be receiving $218 for
>these Sikhote grapefruits, because we have an addiction to giving stuff
>away on eBay. ;-)
>The problem with "I caught a fish and it was *this big*" is you are
>building a story around a supposition you have made, when in fact $1000
>may have been a reasonable offering price for the meteorite, or it may
>not have.
>
>Do you think 2.29 kg Campo for $749 is a better deal?
>
>http://www.galactic-stone.com/product/campo-del-cielo-iron-meteorite--big-centerpiece-specimen-229kg
>
>" and a bunch of people who don't know jack about meteorites"
>
>???: huh? What does an isolated sales price have to do with knowing
>about meteorites?
>
>Kindest wishes
>Doug
>
>
>
>
>
>
>
>-----Original Message-----
>From: Michael Gilmer <meteoritemike at gmail.com>
>To: meteorite-list <meteorite-list at meteoritecentral.com>
>Sent: Fri, Mar 23, 2012 10:38 am
>Subject: [meteorite-list] Auction Kings meteorite - $2000 Sikhote Alin
>
>
>Hi Folks,
>
>So last night I was going through the channel guide on cable TV and I
>saw that a show called "Auction Kings" was going to have a segment
>featuring a meteorite. I had never watched this show before, but I
>was very curious to see what type of meteorite would be shown.
>
>Apparently, the show is about a local auction house somewhere (not
>sure where). People bring in unusual items and the auction house
>sells them at open auction while the cameras follow the action.
>
>The meteorite segment came and here is where the fun begins....
>
>This guy walks in carrying a Pelican-style case about the size of a
>camera case. He opens it and brings out a Sikhote Alin shrapnel about
>the size of a grapefruit. The meteorite had a nice patina, but the
>shape was not very interesting or sculpted. In other words, it was
>what most of us would call a "lump", but it was obvious from the
>appearance that it was a genuine Sikhote.
>
>First, the auction house guy was impressed because the meteorite had a
>certificate of authenticity. I thought this was laughable for obvious
>reasons and a man who runs an auction house should know that 99% of
>COA's are not worth the paper they are printed on. I can go outside,
>grab a rock from my driveway, and print up an official-looking COA for
>it.
>
>Next, the owner proceeds to demonstrate that the meteorite is
>"magnetic" because a magnet will stick to it and that is one of the
>key tests to determine if a meteorite is genuine. I'll skip comment
>on this misconception and use of improper terminology because the real
>kicker was still to come.
>
>So the owner tells the auction house that he is hoping to sell the
>meteorite to help pay for a vacation to Paris and he wants $1000 for
>it.
>
>Ok, at no point in the show was the weight of the specimen ever
>mentioned. So without knowing the weight, it is difficult to assign
>to solid value to the piece. But judging by what I saw (apparent size
>and shape), I'd guess the piece would sell on the meteorite market or
>eBay for about $250-$300. The owner's desired price of $1000 seemed
>unrealistic to me, but this is television and a bunch of people who
>don't know jack about meteorites, so anything is possible.
>
>The auction part comes, and they have a nice turn out with maybe two
>or three dozen potential bidders in attendance. The meteorite ignites
>a bidding war and the final price for the piece was.....(*drumroll
>please*)...... $2000! And the buyer was thrilled because he thought
>he got a good deal. Of course, once he gets home and does some
>Googling to learn more about his new meteorite, he might change his
>mind about the deal he got. He could have went on eBay and bought a
>half-dozen Sikhote shrapnels of that size for $2000.
>
>So the moral of this story is - if you have a local auction house near
>you, go down there with a meteorite and you might be pleasantly
>surprised how much money it will fetch. I'm opening up the yellow
>pages today and/or getting on the internet and see what kind of
>auction houses we have here in the Tampa area. I'll be more than
>happy to offer them all the $200 stones and irons they want, as long
>as they fetch $2000 each. Heck, even after the auction house takes
>it's percentage, that is still a great deal for the seller.
>
>And the best part is, once the buyer gets home and finds out he/she
>got burned on the price, they cannot get mad at the seller, because
>they are the ones who bid the item up.
>
>Dealers - check your local auction houses.
>
>Best regards,
>
>MikeG
>
>--
>-----------------------------------------------------------
>Galactic Stone & Ironworks - MikeG
>
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Received on Fri 23 Mar 2012 06:25:23 PM PDT