[meteorite-list] Heritage auction

From: Greg Hupé <gmhupe_at_meteoritecentral.com>
Date: Sun, 14 Oct 2012 21:52:36 -0400
Message-ID: <97A3918A34E6412D96644933E836B284_at_Gregor>

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 Hup?
The Hup? Collection
gmhupe at centurylink.net
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 <veomega at gmail.com> 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 <mike at meteoriteguy.com>
> 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 <veomega at gmail.com> 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 <raremeteorites at yahoo.com>
>>> 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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Received on Sun 14 Oct 2012 09:52:36 PM PDT