Post-auction analysis - OMGs!, LOLs!, WTFs!, whatev....

[jayn_j]

Bruce, if the item was consigned to me, the seller would get $77 from me at a $108 sale
similarly, on your $144 sale, the seller would get $103.

OK, back at you, Rich.

108 * 75% = $81 on my calculator.

[MoviePosterBid.com]

 

[Bruce]

I see. If someone has one only poster to sell, they should send it to you, assuming I will get no more than 50% over the price you get and assuming they would rather have $81 now than $108 in a month or two.

I have been trying to get away from the consignors with just a few posters anyway (unless they are great ones, of course). I especially am trying to get away from the consignors who solely send me their much lesser items, or their hard to list items. Thankfully those are quickly being weeded out. I find that the very same ones who send me all their cast-off junk are the ones who complain about how long it takes me to auction it.

We are quickly approaching the time where we will be 100% caught up on old consignments, and more and more we prepare packages for auction as soon as they are opened (auctioning 100,000 items in a year will do that for you).

Bruce

[MoviePosterBid.com]

I see. If someone has one only poster to sell, they should send it to you, assuming I will get no more than 50% over the price you get and assuming they would rather have $81 now than $108 in a month or two.

well not exactly Bruce, although people with a few posters in that price range are always happy to consign.

concerning lower values stuff.. even I'm starting a move away from it, at least selling as single items. It's no secret that your work is only valued by how much $ you make and every $100 poster only requires the same work as any $1 poster.. and that's why I've started selling bulk lots and I will be selling very many more so I can move that stuff along to those dealers who wish to list the stuff on fleaBay at higher prices than you or I get for such titles as well as to clear out space in my totally jam-packed warehouse for more merchandise coming in

and I commend you for catching up on those long-term consignor piles, some of which I know might be getting quite aged by now and if you're currently on a 2-month schedule for consignors. I know most people don't like to have material on consignment in someone's warehouse for a long period not producing income for them when they're trying to raise $$ to pay mortgages or when they're just out of work or have suffered a natural disaster like a flood or hurricane (or both or all of the above combined!), although I should point out a small mistake on your part. If you're on a 2-month schedule right now (I think the indication from your post is that you aren't yet), that means your consignor doesn't get his money for longer than 2 months as you get the poster up 60 days from receipt (or you're hoping to in the future), the item sells 1 week later (makes it 67 days to the actual sale of the item) and your payment schedule is 30-59 days later which makes 97-126 days before they get their $$$$. Obviously, it's a consignor's decision between my apples and your oranges when you take into account all of these facts. In the case of the consignor on those SW proofs I had, I got the posters out for sale in 24 hours after receipt (yes that is not usual) and he had his money less than a month after sale date, so for that consignor, it worked out as well as could be expected, presuming he was happy with the prices and he was.

that said, I would say to any consignor that they should choose between the many options they have.
Someone looking to sell by auction a 1947 Dracula re-issue would be better sending it to you, Heritage, profiles, or Sean as I might not be able to get any of your results on such a poster with my current members, although at some point I'm sure to be able to. But if someone has a collection of posters and lobby cards in the under $1000 and in particular under $500 range, where I've noticed my results have become (overall) reasonably in line with your results, then I could be just as good an outlet as anyone else, including you

[Neo]

then I could be just as good an outlet as anyone else, including you

That's the spirit, Rich, but you're not giving yourself enough credit.  You do good work and have a great website, M.O., etc.  In reference to your comment, the best advice I can give is .

[jayn_j]

And I was led to believe the full moon was last week.
Much too easy to start a war in this place.
Sorry folks.

You both do good stuff, and I purchase from both of you.

[holiday]

You both do good stuff, and I purchase from both of you.

Agreed, and I do too.

[MoviePosterBid.com]

who's fightin' ??

Bruce and I have been friends for 40+ years and if we both live enough, another 40

[Charlie]

There is so much I want to say here but there is always a bullshit PC answer even if it is wishy-washy.  All I know is that while your bottom line may improve by dismissing lower value posters some people see you sticking your nose in the air and providing little flexibility; this includes missing the not so low valued posters included large quantity consignments going elsewhere. 

Eventually, failing to cover this low poster value gap will create competitors that may actually be better at it than you and then you'll find yourself with unwanted competition.  If I had the time and start-up capital, I could definitely give you both a run for your money; because like any business at the end of the day its about relationships...  A trained monkey could auction a poster, but its how you deal with people that gets you better consignments and better customers. 

For Bruce:

That's one thing you have nailed with customer service, and trust though safe packaging and the original guarantee.  However, as rings true from the earlier statements, after several attempts, through PMs etc. on first with a single poster and then trying to figure out how to trim 300 - 400 posters from my collection, I basically get, through the Charlie translator:

 "I don't really want your posters to sell.  I think most of them are of low value, and I only want the really good stuff; $15 or more.  And next time send messages to Phillip and stop bothering me, you minion; I already have 800 other consignors that I think are better than you.  However, we can work something out, but you won't like it, so you'd be better off taking your posters somewhere else."

And then while viewing the last couple of weeks auctions I keep saying to myself.  There a poster that I was told not to send, and another, and another, and another all sub $10 not $15...  Does the guy just not know what his policy is? He'll sell other people's shit but not mine?

Not only did you lose a consignor, but I am now not such an eager customer (although always a satisfied one in the past).

For both of you:

Ever think that some customers like to nip off the low end posters once they have bought the higher end stuff? Or come for the lower end stuff and end up buying higher priced items? Or dealers buying the lower end stuff to resale?  What happens to those guys when you stop selling the cheap stuff?

Maybe instead of "weeding out" the lower value posters you should work on a more efficient way of auction preparation or redeveloping your business model to incorporate all poster values though different sales methods like the lot listings. 

Just MO...

[jayn_j]

+1 Charlie.  Thanks for bringing that up, because that is exactly what I was thinking.

I'm starting to get old, and need to put together some disposition hints for my kids.  I don't buy $1000 posters, and both Bruce and Rich just told me that they only want to cherry pick the best of what I have.  Ironically, this is the same stuff that they have happily sold me over the years since I buy from them more often than elsewhere.

[50s]

Maybe Bruce feels now that there are other ways to go forward with low value (unprofitable) posters, now the business is now established and in a groove:
- introduce buyers premiums like Heritage so there is something like a $14 minimum buyers premium to cover listing costs
- I suspect (maybe stubbornly) instead to just don't accept the low value, loss making posters. 
- bundle as mentioned

There may be some benefits to making some sort of loss on the junk but sounds like Bruce probably has done his maths and is not worth it overall.

There are lots of poster auction houses that don't sell the junk, just individual posters starting from $50 or $100 up. They seem to do well and year after year are still there.

The Salvation Army stores here don't accept just any junk either, they also pick through and take what is worthwhile selling and leave me the rest!

[Bruce]

I am the only major auctioneer that accepts inexpensive posters at all. Most places have a minimum value of $50, and one place insists that your overall consignment must have a minimum value of $5,000.

I auction a huge amount of $1 to $14 posters (over half of all I auction sells for between those amounts, whereas the company with the $14 buyers premiums never auctions a single poster for under $15).

All I ask of consignors is that their consignments AVERAGE at least $20 per item, and if they do, I take all they want me to auction (but I can easily show that on the least items, they do better to lot them up, but if they insist on single sale, I let them do so, as long as the items average $20).

Charlie, there IS a way for you to auction those 500 inexpensive items one by one, and that is to put them on eBay yourself. But I can't possibly do so for you, because I would lose a lot of money on them (and I would lose even if you gave me 100% of the sales!). You might ask Rich if he is willing to take them, but I suspect I know the answer.

Ask Mel or Thierry if they bought the hundreds of inexpensive posters they did thinking they could re-sell them at a profit by consigning them to an auction. I suspect I know that answer.

If you are buying inexpensive posters ($1 to $10 items) because you really like them great. But they just don't make sense as an investment. It would be much wiser to buy 10 $100 posters that to buy 500 $2 posters, if "return on your investment" is your primary goal.

I auction inexpensive posters (which no other major auction does) because they are fun and cost little (often far less than reproductions). But it is not profitable to do so, so I have to draw the line somewhere, and I explain above where my lines are drawn.

Bruce

[Charlie]

I am the only major auctioneer that accepts inexpensive posters at all. Most places have a minimum value of $50, and one place insists that your overall consignment must have a minimum value of $5,000.

I auction a huge amount of $1 to $14 posters (over half of all I auction sells for between those amounts, whereas the company with the $14 buyers premiums never auctions a single poster for under $15).

All I ask of consignors is that their consignments AVERAGE at least $20 per item, and if they do, I take all they want me to auction (but I can easily show that on the least items, they do better to lot them up, but if they insist on single sale, I let them do so, as long as the items average $20).

I was not asking you to make an exception for my stuff, I even suggested that you lot up the ones that didn't make your cut. You are so wishy-washy; or maybe Phillip is answering your PMs sometimes? 

Hi Bruce,

I have a question regarding consignment.  I am trying to cull about 500 of my posters to get some organization to my madness.  My question is; if I just bundle them up and basically say you can auction them as a group or individually, would your staff actually go through and pull the ones they thought would do better individually?  I have several Very Good to Fine DS one sheets that I got from a theater manager and then some from a theater that are Good to Very Good.  The reason I ask is because in your auctions and regarding newer materials the Very Good to Fine actually have pulled the $15 while lesser condition copies are abysmal.  Your site says just get them to us and we will do the rest.  Just don't know if I need to be spending hours checking prices...  Of course there are some that are no brainers; got a Fargo DS and the recalled Thin Red Line Etc..  Just the commons/semi commons I am worried about.

Thanks,

Charlie

Charlie, there IS a way for you to auction those 500 inexpensive items one by one, and that is to put them on eBay yourself. But I can't possibly do so for you, because I would lose a lot of money on them (and I would lose even if you gave me 100% of the sales!). You might ask Rich if he is willing to take them, but I suspect I know the answer.

We'll auction your posters; "Just get them to us!"  But if we determine through assumption that we don't want to auction them, we'll just tell you to do it yourself?   

I think you're stuck on the assumption that all I am trying to trim are the posters that are inexpensive in nature.  I've been sorting them out and have a stack already over $15.  I have many doubles too that I don't need.  My collection has just swollen and I thought I could get rid of stuff I don't care for including the $30 and $40 poster up to $100 or more.

Ask Mel or Thierry if they bought the hundreds of inexpensive posters they did thinking they could re-sell them at a profit by consigning them to an auction. I suspect I know that answer.

Another incorrect assumption.  I didn't buy these specific posters as investments or to flip.  At one point I thought I would never sell them.  I bought entire collections from two theater managers for .25 each a few years ago.  And they are not all inexpensive.  I have just started focusing my collecting and don't need the Iron Giants and Fargos cluttering up my storage space.  This is what irks me; you just make an assumption. 

If you are buying inexpensive posters ($1 to $10 items) because you really like them great. But they just don't make sense as an investment. It would be much wiser to buy 10 $100 posters that to buy 500 $2 posters, if "return on your investment" is your primary goal.

I really could care less about specific returns on these posters  (yeah I don't want to just give them away); which is why at one point I asked about auction credit. It just seemed inviting to trim some from storage, and perhaps have a few bucks to apply to a poster that interests me now.  And again here we go with the attitude that I would have no idea what I am doing even if I was trying to make a return on an investment.  I certainly wouldn't load up on Glitter one-sheets, but that is essentially what your attitude suggests.

When I starting thinking I would consign, I actually did make some flip purchases to include.  These would all have ranged from $30 to even possibly $1000 in ending price.  Your auction histories are available; would a person really not check to see what a potential investment would return if they consigned?

I auction inexpensive posters (which no other major auction does) because they are fun and cost little (often far less than reproductions). But it is not profitable to do so, so I have to draw the line somewhere, and I explain above where my lines are drawn.

Ok, thanks for the explanation.  You response to my PM didn't indicate this. And it should be said that you did not say don't send them.

I guess it's not too smart to go to bat against a guy that has my credit card number. 

And Bruce I've got nothing against you personally. I don't even really know you.  I am just trying to point out the perception that stems from this wishy-washy attitude concerning consignment of low value posters.  You should learn from this.  You alienated a potential consignor and reasonably good customer (I'm not a high roller, yet. But I always pay on time); based on an assumption. 

How the heck do you know that a lot someone sends you will average $20?  By just accepting the consignors word?  Yes, as a business sub $15 posters are "bad business" but either you do it or you don't. If they are going to be a staple, you should think of ways to bring your auction cost prep down.  Do you really need to take pictures of sub $10 posters?  That seems like the most time consuming part; photos. You already have a database of poster information.  I think people would understand just a written condition statement for these with a standard photo.  If they bitch about the condition, you can just refund them the few dollars they spent.

This has gotten way to specific to my certain experience w/ Bruce and I apologize for my diatribe.  My goal was to point out the perception of "weeding-out" low value posters and how it impacts potential consignments.   I'm done...

[Bruce]

I'm done too!

[crowzilla]

Bruce has built up an incredible, efficient business model for moving volumes of low-dollar items, and he should be given kudos for being willing to tackle that segment of the market.
I suspect he will continue to lead in that area for many years to come.

He could be like other auction houses, stop auctioning anything less than $50, cut his staff by 2/3 and make a lot more money - but I think he has to be given major props for sticking to his guns and being willing to sell just about anything.

[Harry Caul]

I don't know... as far as I know Bruce hasn't had a Mexican lobby card auction yet! 

[Tob]

I have just started focusing my collecting and don't need the Iron Giants and Fargos cluttering up my storage space. 

I'll buy 'em off you! Love both Fargo and The Iron Giant

[CSM]

I don't know... as far as I know Bruce hasn't had a Mexican lobby card auction yet! 

 

[MoviePosterBid.com]

I'm starting to get old, and need to put together some disposition hints for my kids.  I don't buy $1000 posters, and both Bruce and Rich just told me that they only want to cherry pick the best of what I have.  Ironically, this is the same stuff that they have happily sold me over the years since I buy from them more often than elsewhere.

Not correct Jay. what I've been doing is looking for posters in my database that I have sold multiple times and never get more than 99 cents or $1.99. At this point, such items are an unusual use of my time when I could be listing posters worth $5 or more. So I'm making a list of them, going through my stock and removing them and stacking them up for sale in my bulk lots.
Unlike Bruce, the vast vast majority of items I sell are items I own personally, or own in partnership with a friend and I deal few consignments, largely because most of the time I buy the collection(s) that the consignors are looking to sell, complete, and then sell them at my leisure.

Now if someone wants to send me a 300 piece list to sell in a single auction and the entire consignment meets my specifications (that I must gross specific targets), as long as I meet that gross number, I'll take anything, even posters that will only sell for 99 cents because you're also sending me posters that will sell for $100-$200-$300-etc. However, if someone wants to send me 300 posters and none of them head into "the sweet spot", it isn't wise for me (or Bruce) to deal that material because there is no upside for me. If I must reach $2000 in gross income for myself for instance, that means that the consignor has to give me a selection that makes enough for both of us that it meets my criteria, otherwise I'm headed in a negative direction

To get back to my first comment, my criteria for elimination doesn't go outside my target of up to $2.00 for the time being, but down the road I may say everything under $5 gets axed. Right now though, let's say I've sold a poster 10 times and 8 times it sold for 99 cents & twice for $10, I'm not axing that poster - yet! If I sell it 10 more times and it doesn't get over $2 again.. it's gone.

another note: my warehouse has about 200,000 posters in it (also comics, pulps and anything else you can imagine) and many of the titles in there I have never sold and don't plan too, at least as singles. They're never going to get any real bidding, so they aren't useful to me. Clearly, I have no reason to let someone consign the same type of material because if I'm not going to sell $2 posters I own, it is complete foolishness for me to take them as consignments unless they are balanced by other posters that have good value.

all it really gets down to is the natural progression

[110x75]

Anyone here got this House on the haunted hill suposedly used in New Zealand? I think the blacked areas and the censor stamp makes it a curious one...

http://www.ebay.com/itm/170714113904?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1438.l2649

And the seller says (and swears) it`s a 3 sheet... Odd!

[Simes]

Bruce has built up an incredible, efficient business model for moving volumes of low-dollar items, and he should be given kudos for being willing to tackle that segment of the market.
I suspect he will continue to lead in that area for many years to come.

He could be like other auction houses, stop auctioning anything less than $50, cut his staff by 2/3 and make a lot more money - but I think he has to be given major props for sticking to his guns and being willing to sell just about anything.

Agreed.

[brude]

Anyone here got this House on the haunted hill suposedly used in New Zealand? I think the blacked areas and the censor stamp makes it a curious one...

http://www.ebay.com/itm/170714113904?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1438.l2649

And the seller says (and swears) it`s a 3 sheet... Odd!

Sure looks like a one sheet to me.
Nice paint job...what a mess.

[ddilts399]

Would that crap come off even, $300 poster that should go in the trash can if it cant be restored.

[110x75]

I like it.

[50s]

House on haunted hill cant be a 3 sheet as the proportions are for a one sheet (or 40x60). Also on the 3 sht poster the image is flipped ie the woman hangs on the right side. It is not the 40x60 as the text in the bottom margin is not as per the 40x60, but as per the 27x41. Also of course a 3 sheet is typically made of 2 seperate sheets.
I referred to Heritage