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

[Dr Hackenbush]

Just like every auction house, HA wanted a marquee piece to attract attention.  They get the BoF teaser and, I would figure, TF got the seller's premium waived and would get a percentage of the BP.  That's usually how HA does things when a cosignor gives them hundred of thousands of dollars worth of material (whether it be one piece or 10,000)

[CSM]

Read the * text: "*Reserve Not Met. A reserve has been posted on this lot, but no bids have met the reserve. The next bid will meet the reserve."  That contractually binds them to accept the next bid which is clearly stated:

Minimum Next Bid: $600,000 ($717,000.00 w/BP)

I do believe you are correct Mel.  I have been trying to find the post I was referring to (I believe it was on MoPo) without success and I have read through all the fine print I could find on HA.com.   I can find nothing to support my earlier statement.   In fact Grey stated on MoPo:  

"Concerning reserves or opening bids on Heritage’s website and auction,there is no mystery. The reason reserves are not posted until 7 days before the auction is that we don’t know that all reserves are in from our consignors until that time. Contractually the consignor has until 10 days before the live auction to enter a reserve, though they cannot enter one above the low estimate printed in the catalog or online. In far more instances we will remove or lower a reserve in our Signature auction than raise or even enter a reserve at all in the movie poster auctions"

and

"Whenever a reserve is posted on any lot, Heritage, by design, increases the current bid to the increment immediately below the reserve. This takes place usually 7 days before the end of the auction for Signature Auctions"


But then I ask:  is it still trully a reserve auction when consignors are allowed to bid on their own items (so long as they pay the appropriate buyer's premium)?  

[Dread_Pirate_Mel]

Frankenstein did not make the minimum....

[Louie D.]

Frankenstein did not make the minimum....

Wow, imagine that 

[CSM]

Frankenstein did not make the minimum....

I think many doubted it ever would.  I wonder what the REAL top bid was (i.e. before Heritage bumped it up to just below the reserve as per their policy)?

[Harry Caul]

I thought the real top bid was $575K... If so, what kind of cheapskate wouldn't pony up the last $25K to get it! 

[Dread_Pirate_Mel]

I was half following the auction and seemed like many posters were coming in very low.

[CSM]

I thought the real top bid was $575K... If so, what kind of cheapskate wouldn't pony up the last $25K to get it! 

You might be right Harry.  Heritage states their bid increments are $50,000 from $500,000-$999,999 - so if they bumped it so the next bid would make the reserve that would have placed it at $550,000. 

So is who on the forum is going to make an offer or use the buy it now at $717,000 with BP? 

Mel, trade in those Bond posters and your chances of ever finding a wife and get busy!

[Harry Caul]

I was half following the auction and seemed like many posters were coming in very low.

I for one am quite happy about that as I won something today!  Not sure if I'm going to spill the beans just yet... I think it needs to be on the wall first for full effect.  Stay tuned... it will be a few weeks/months.

[CSM]

I Stay tuned... it will be a few weeks/months.

That is far too long for the information-age, instant news-spoiled internet generation to wait!  


PS (It has just better NOT be another Bogart!)  

[kovacs01]

Alien advance???

[MoviePosterBid.com]

You might be right Harry.  Heritage states their bid increments are $50,000 from $500,000-$999,999 - so if they bumped it so the next bid would make the reserve that would have placed it at $550,000. 

So is who on the forum is going to make an offer or use the buy it now at $717,000 with BP? 

Mel, trade in those Bond posters and your chances of ever finding a wife and get busy!

I'm already in discussion to buy it on time payments. I'm trying to see if I can pay $500 a month with no interest. The sticking point is that I want the poster to be on my wall after I make the first payment so I know what I'm paying for

[Harry Caul]

That is far too long for the information-age, instant news-spoiled internet generation to wait!  


PS (It has just better NOT be another Bogart!)  

Patience is a virtue or some such bullshit. Don't worry, this one is going up soon... I'm already making calls about framing...

And no, it's not a Bogie and it's not an Alien Adv.

[CSM]

I'm already in discussion to buy it on time payments. I'm trying to see if I can pay $500 a month with no interest. The sticking point is that I want the poster to be on my wall after I make the first payment so I know what I'm paying for

But are you paying with the same virtual $$$ offered on NSFGE?   

[MoviePosterBid.com]

But are you paying with the same virtual $$$ offered on NSFGE?   

no sir, I'm offering real American cash, although it's debatable which currency is more stable

[brude]

I am stunned that a rich Hollywood filmmaker didn't buy this....if I was a multi-millionaire, it would be hanging on my wall right about now...

[Bruce]

"I thought the real top bid was $575K... If so, what kind of cheapskate wouldn't pony up the last $25K to get it!"

If there had been a real bidder at anywhere near that amount, they never would have let him get away. This was a no bid auction with a hope and a prayer that some eccentric billionaire would take a great liking to this poster. Didn't happen.

Bruce

[Bruce]

"I was half following the auction and seemed like many posters were coming in very low."

This is indicative of an auction with reserves set at a retail price. The ones that sell have a single bidder who pays the seller's reserve (i.e. his asking price). It was more of a retail offering of expensive posters than an auction (in auctions, two or more bidders determine the final price by bidding against each other).

Bruce

[holiday]

"I was half following the auction and seemed like many posters were coming in very low."

This is indicative of an auction with reserves set at a retail price. The ones that sell have a single bidder who pays the seller's reserve (i.e. his asking price). It was more of a retail offering of expensive posters than an auction (in auctions, two or more bidders determine the final price by bidding against each other).

Bruce

I haven't bought from Heritage for a long time now.  The last run-in I had, their customer service person was so offensive and condescending that I couldn't get over it.  I think that encounter was a push in the right direction, though, away from things like this, Bruce, though I didn't often buy at the signature auctions.  I haven't missed it.

[Dread_Pirate_Mel]

This is what happens when you and/or the consignor price items too high:

[Dread_Pirate_Mel]

Anybody going into battle for the third session at 1pm EST?  They go by so fast - gotta be quick on the draw.

[CineMasterpieces]

http://movieposters.ha.com/common/view_item.php?Sale_No=7029&Lot_No=83525&Lot_Id_No=80003

Makes me feel like a chump for selling the few that I had for $3500 to $4000 each.

These generally auction for under $2000.

[CSM]

$11,000 for an Ocean's 11 insert?! 

[stewart boyle]

I am stunned that a rich Hollywood filmmaker didn't buy this....if I was a multi-millionaire, it would be hanging on my wall right about now...

I would be interested to know,if the high price tag for this poster is in regards to rareity,or does it have something to do with the subject matter as far as casting is concerned?
The poster for me seems to be asking the question who could possibly be Frankensteins bride??
If the intent was to stir up anticipation for the sequel it scores ten out of ten.

Stew

[CSM]

Well Stew it is clever because there are actually two "brides" in Bride of Frankenstein.

The value (perceived value is more accurate) is based on rarity (only known copy), subject matter and aesthetics.