Author Topic: Why do major auction houses get incredible results? Dr No anyone?  (Read 735 times)

Offline MoviePosterBid.com

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why do major auction houses get incredible results?

this is such a simple answer: because they deal with a majority of the wealthiest people on the planet.

That's the simplest answer. Factually, the uber-rich can do whatever they want to, day after day after day. They can buy what they want, they can pay what they want and if said purchases are worth what they pay or not.. means nothing. On Rodeo Drive (pronounced Ro-Day-O) you can buy a Hershey bar in most stores, including fashion boutiques. This bar costs $8-12 in these stores, but if you walk just 3 blocks away, you can find the same chocolate bar for $2 or $3. Do you think a gal spending $3000 or $30,000 on an evening gown she may only wear once, to tonight's party gives a shit how much it costs? That's not their calculation. The calculation is "I'm going to have a dress no one else will have, and I'm going to look good". The $30,000 is like a pimple on their bank account, because aside from having 100 million or a half a billion, their investments are making $30,000 a day for some of them and there are still 364 more days that year.

It's called 'more money than God'.

Consider this, a wealthy prince in Saudi Arabia decides to decorate one of his homes with posters and he looks for a place to buy. He already is a buyer of antiques, real estate, wines, rare cars etc etc etc at Sotheby's Christie's Heritage and it's just a short walk to go see their poster offerings. "Oh I want that poster. Bid bid bid bid bid. This is fun and now I have my poster". Do you think he gives any consideration at all to whether the poster will be worth what he paid if he sells? NO - because he is never going to sell. He will never need to sell, because he's making $30,000 an hour selling oil and all he wants is the money so he can buy his toys. "Clearly, some other princes are bidding against me, so there must be some value. Bid bid bid bid bid. Yay I win. Yay"

But here's another key: these people do not care about comparison shopping. Their time is too valuable (or so they say), because they make $3000 a day or $30,000 a day or $30,000 an hour, even if all the work is done by someone they hire to do so. Also, they are never likely to bid at places like eMovie, or eBay, or Amazon or even my site MPB. These sites aren't for them, because they all look like pimples on the face of the internet to them. When they deal with people at HA, or Sotheby's, they are bidding with other super-rich people. People like them.

eMovie, or MPB or Amazon is for the low class people, in part because of the apparent guarantees for instance from these auction giants and the fact that all of these giant corporations carry bonded insurance, so if I spend a million dollars and there is a dispute, I can get my money back. The big auction houses aren't run by 'pikers' in their minds, so they have a certain security in spending and doing business. When they go to Sotheby's, they see an immaculate 20,000 sq foot auction house. When they see Heritage, they have their name on top of a 24 story modern skyscraper, not an old warehouse that looks like a place where their floor scrubbers live. They will never do business with such an entity. They have nothing in common with people like us. So we don't get their bids.

The people who bought and bid on the Dr No quad for $87,000L will never sell, they don't care about value, they don't care how you or I see the buy. All they care about is "when we have the party next week, I have this great Bond poster on the wall (along with many others) and my friends all think I'm cool, because now that I have these posters, I am indeed cool."

There is also a good possibility that they do indeed know it's a $10,000 poster and don't care "because I have more money than God". Trying to pigeon hole these people into the pigeon holes we exist in is fake math, because these people aren't like 'US'.

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Offline redman

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #1 on: March 22, 2019, 05:08:01 PM »
i was more shocked with the jungle book. in fact lots of good prices for disney so i thought that some oligarch must have been getting a nursery done in mayfair ;D

Online eatbrie

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #2 on: March 22, 2019, 05:20:58 PM »
eMovie, or MPB or Amazon is for the low class people...

So where does that put you?  In the sewer?  With rats and cockroaches?  Because for sure you're not at the same level than Emovie.

T
« Last Edit: March 22, 2019, 05:22:36 PM by eatbrie »
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Offline MoviePosterBid.com

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #3 on: March 22, 2019, 05:24:36 PM »
So where does that put you?  In the sewer?  With rats and cockroaches?  Because for sure you're not at the same level than Emovie.

T

LOL

I tell ya, that comment is funnier than you realize. I only know of one auction site that sings praises of how low it can sell posters and that isn't my site

by the way, in my business, I never strive to be like anyone else, as I am in competition with no one. I'm not looking to have 30 employees, nor trying to do $4m or $10m a year in sales. 30 years ago I was doing the equivalent of million-dollar-years and it's tough work. Factually, I make as much today after costs as I was doing then, and my life is more like a vacation than a job, for which I am very grateful. Heck, I'm doing it much more smartly than before - I'm letting the major auction houses do the bulk of my sales, and so I'm making more money than I can spend, while selling fewer items. I don't even have to ship that stuff now. My reach to the upper echelons of money goes through the best agents and my stuff never goes for a dollar. Why should I want to be like emovie or anyone else. This is the gold!
« Last Edit: March 22, 2019, 05:34:04 PM by MoviePosterBid.com »

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Offline marklawd

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #4 on: March 22, 2019, 06:13:57 PM »
100% agree with your opening post Rich. I think many people have never encountered or interracted with incredibly wealthy individuals. If they had, they would not be so shocked about the Dr No result. My earliest experience was when I was in my early 20's and the firm I worked in was acting for someone who wanted to stop developers building on open land next to his house. Mr W was happy to pay millions of pounds, the site value, just to keep it as grass. I spent a week helping the client and methodically prepared a time and expenditure sheet to support the invoice. When my boss saw the invoice he added a zero to the total and gently scolded me saying "Mr W would not think we were looking after him if he got a bill for that amount."

The irony is that the vast majority of people would describe us poster collectors as stupid and dumb for spending our money on paper advertising with no intrinsic value.

Mark

Offline MoviePosterBid.com

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #5 on: March 22, 2019, 08:14:15 PM »
100% agree with your opening post Rich. I think many people have never encountered or interracted with incredibly wealthy individuals. If they had, they would not be so shocked about the Dr No result. My earliest experience was when I was in my early 20's and the firm I worked in was acting for someone who wanted to stop developers building on open land next to his house. Mr W was happy to pay millions of pounds, the site value, just to keep it as grass. I spent a week helping the client and methodically prepared a time and expenditure sheet to support the invoice. When my boss saw the invoice he added a zero to the total and gently scolded me saying "Mr W would not think we were looking after him if he got a bill for that amount."

The irony is that the vast majority of people would describe us poster collectors as stupid and dumb for spending our money on paper advertising with no intrinsic value.

Mark

exactly Mark. Too many people aren't able to look at these things in an objective fashion and also, as you note, many people have never encountered or interacted with incredibly wealthy individuals, and so they are completely unable to understand them. The best way to describe them is "people who can afford to do whatever they want, whenever they want, will do whatever they want, whenever they want, like buy a Dr No poster that they will never sell for whatever price


When my boss saw the invoice he added a zero to the total and gently scolded me saying "Mr W would not think we were looking after him if he got a bill for that amount."

and also

 laugh1 laugh1 but so true. This is the $12 chocolate bar

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Online Tob

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #6 on: March 22, 2019, 08:48:21 PM »
i was more shocked with the jungle book. in fact lots of good prices for disney so i thought that some oligarch must have been getting a nursery done in mayfair ;D

I thought exactly the same thing! An oligarch decorating his kidís room. The amount of money sloshing around London is mind blowing, itís another world.

Online eatbrie

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #7 on: March 22, 2019, 09:36:07 PM »
The irony is that the vast majority of people would describe us poster collectors as stupid and dumb for spending our money on paper advertising with no intrinsic value.

So true.  I never understood people like Mel, spending your money on posters until you go broke and have to sell everything.  In my book, you should never spend more than 10% of your discretionary income on a hobby.  Any hobby.  The rest is for family, investment and rainy days.

T
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Offline okiehawker

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #8 on: March 22, 2019, 10:51:16 PM »
Jeopardy answer: Who are crazy rich "x#!*$*+f!*"?


Okie

Offline MoviePosterBid.com

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #9 on: March 23, 2019, 12:25:14 AM »
Jeopardy answer: Who are crazy rich "x#!*$*+f!*"?

yep. "I can do anything I want anytime I want"

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Offline Tang Lung in Rome

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #10 on: March 23, 2019, 10:31:50 AM »
Paid a bit over 2k for OHMSS Italy advance , it is just as rare and cool as that DN quad imo bed1

Where I live theres almost no millionaires (mostly average income people) and theyre only good for a few mill krones which is not much by rich standards......not filthy rich or anything
« Last Edit: March 23, 2019, 10:42:03 AM by Tang Lung in Rome »

Offline originalcinemaposters

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #11 on: March 23, 2019, 12:47:08 PM »
I thought exactly the same thing! An oligarch decorating his kidís room. The amount of money sloshing around London is mind blowing, itís another world.
its not even the first release but in fairness the 1st release quads artwork isn't a patch on this re release. I agree with overall sentiment of this post however. Money isn't the factor its the convenience and cachet of buying from sotherby's

Offline originalcinemaposters

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #12 on: March 23, 2019, 12:53:34 PM »
looking at the results as whole, there were quite a few unsold lots and quite a few average performers, it was really only a couple of items that went mental. It just shows what a lottery the auction game is!

Offline Stefano

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #13 on: April 18, 2019, 03:46:05 AM »
In my book, you should never spend more than 10% of your discretionary income on a hobby. 

Ah, but that's assuming one has any discretionary income left at the end of the month!

Offline AdamCarterJones

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Re: Why do major auction houses get incredible results? Dr No anyone?
« Reply #14 on: June 20, 2019, 05:16:35 AM »
People tend to forget the business side of buying at auction. If it's cheaper to spend £90k on a poster than risk spending more in tax, you're going to do it because in effect you're getting the poster for free. I know a few businesses who work like this; clever if you are in such a privileged position.
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