[meteorite-list] Heritage auction / Flakey Absentee Bidders

From: Michael Blood <mlblood_at_meteoritecentral.com>
Date: Mon, 15 Oct 2012 20:49:25 -0700
Message-ID: <CCA22755.29071%mlblood_at_cox.net>

In 13 strait auctions I have had only one absentee
Bidder flake out on me.
Michael
PS: I realize our small community is not subject to
Some of the "Heritage Auction" mass media distribution
And the write ups are not geared to the uninitiated.

On 10/15/12 3:11 PM, "Adam Hupe" <raremeteorites at yahoo.com> wrote:

> Don't forget, they still have to collect from the "winning" bidder.? Some
> people have been known to gather their 15-minutes worth of fame or power trip
> by getting into bidding wars and fail to pay after they have placed a
> "winning" bid.? Is has happened many times before.? I had an item that was bid
> up to over $40,000.00 at an auction house just to have the winning bidder walk
> away.? A 12 year kid got into an online session and bid up a famous painting
> by tens of millions of dollars so no matter how hard an auction house might
> try, you cannot vet out these bad bidders.
>
> Let us hope that they make good and do not have buyer's remorse.
>
> Adam
>
>
>
> ----- Original Message -----
> From: Michael Farmer <mike at meteoriteguy.com>
> To: Greg Hup? <gmhupe at centurylink.net>
> Cc: Adam <meteorite-list at meteoritecentral.com>
> Sent: Sunday, October 14, 2012 6:56 PM
> Subject: Re: [meteorite-list] Heritage auction
>
> I just sold one of those Seymchan spheres for $4000 two days ago on eBay, look
> it up. Larger than $16000 one sold today. I offer bargains:)
> But hey, I guess theirs comes with flashy catalog and "meteorite men"
> provenance.........
>
> Michael Farmer
>
> Sent from my iPhone
>
> On Oct 14, 2012, at 7:52 PM, Greg Hup? <gmhupe at centurylink.net> wrote:
>
>> 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 Mon 15 Oct 2012 11:49:25 PM PDT