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

[Charlie]

To Catch a Thief 6-Sheet went for $1,850...  I am not sure if the picture was off but it didn't look all that fresh - maybe the photo?  This was a lot less than I paid after getting it restored. If I would have just had a little more patience.  But then again, I guess I don't know what the buyer's high bid was...

http://auctions.emovieposter.com/Bidding.taf?_function=detail&Auction_uid1=3208990

[Charlie]

Congrats, Bruce on the King Kong insert sale, today!

http://auctions.emovieposter.com/Bidding.taf?_function=detail&Auction_uid1=3208760

$36,050.00

 

 

[Zorba]

Sometimes I really hate not having money in this hobby.

Today was one of those days.

Gratz Bruce. Yet again.

[crowzilla]

Congrats, Bruce on the King Kong insert sale, today!

http://auctions.emovieposter.com/Bidding.taf?_function=detail&Auction_uid1=3208760

$36,050.00

 

When this poster originally sold at Butterfield's in November of 1999 it brought $31,625.
So I am not sure if this recent result is a good one or bad.
The price is less than what the same amount of money invested at 1% simple interest over the last 14 years would be worth (and of course the rate of inflation over the last decade has been even higher than that).
But in today's market where many top horror titles are having trouble reaching the highs they were at just a few years ago, perhaps it is a good result indeed.

[MoviePosterBid.com]

Sometimes I really hate not having money in this hobby.

Today was one of those days.

Gratz Bruce. Yet again.

Zorba, take it from someone who could easily have bid and didn't on some things he needs, even things you want aren't always important, especially in collectibles. Also, you may be able to get those things later, sometimes for less money or as Sean pointed out, as a better value at a later date due to market forces.
There is plenty of paper out there. Maybe someday you will be able to afford whatever it was and be happier when you get it then.

[Ari]

Here's another tip, don't have money? Don't look, I didn't, I feel grand.

[Zorba]

Here's another tip, don't have money? Don't look, I didn't, I feel grand.

You are grand!

Like Chance the gardner...I like to watch. 

[CSM]

When this poster originally sold at Butterfield's in November of 1999 it brought $31,625.
So I am not sure if this recent result is a good one or bad.
The price is less than what the same amount of money invested at 1% simple interest over the last 14 years would be worth (and of course the rate of inflation over the last decade has been even higher than that).
But in today's market where many top horror titles are having trouble reaching the highs they were at just a few years ago, perhaps it is a good result indeed.

One thing we need to start factoring into these analyses of past vs. recent auction results is the intervening 14 years (or whatever length of time between sales it may be) of "entertainment value" the poster brought to the original buyer (and presumably current consignor).  Unless the poster was purchased strictly as an investment the 1% interest example is somewhat flawed - but that's a basic problem with all collectables - this "entertainment value" certainly cannot be standardized as it will be highly subjective. 

Perhaps the original Kong buyer considered the insert his holy grail piece and it brought what amounts to analogous boatloads of sunshine, scantily clad women and beer into his life each and every day?  To me that's additional immeasurable value

[ddilts399]

I was expecting more of the Kong, still a good result, but my expectation of the final price was higher.

[crowzilla]

One thing we need to start factoring into these analyses of past vs. recent auction results is the intervening 14 years (or whatever length of time between sales it may be) of "entertainment value" the poster brought to the original buyer (and presumably current consignor).  Unless the poster was purchased strictly as an investment the 1% interest example is somewhat flawed - but that's a basic problem with all collectables - this "entertainment value" certainly cannot be standardized as it will be highly subjective. 

Perhaps the original Kong buyer considered the insert his holy grail piece and it brought what amounts to analogous boatloads of sunshine, scantily clad women and beer into his life each and every day?  To me that's additional immeasurable value

Since I don't know the previous buyer, I can not factor in entertainment value. The interest example was given merely to show the opportunity cost of that money, that simply by locking it in at even a 1% interest rate you would have more dollars than the poster sold for even today.
Of course if you locked in a CD at the 6% prevailing interest in 1999 for 72 months, did it again in 2005 at the current 4.5% interest for 72 months, and then again in 2011 at .5% you would have over $60,000 - for doing nothing. You could buy Kong and have close to $25,000 cash left over to entertain yourself.

For the buyer's sake, I certainly hope he wasn't an investor and purchased the piece because it did love it and got 100s of thousands of dollars worth of enjoyment out of it, because as a strict investment he lost money not only just compared to inflation/other investments, but also in actual dollars he put in his pocket.
If he did, I certainly can't blame him - I've bought lots of pieces I never expect to get my money back out of, but I don't expect to get applauded when I lose money on the resale either.

[MoviePosterBid.com]

I definitely understand the "cost per day to enjoy this poster" and have done this math before

I have Murder My Sweet 1sh, usually displayed (not at the moment however)
I bought the poster in 2001 for $3k and it's been displayed at least 10 years in there
3650 days into 3k means it's cost me 82 cents a day to look at it and that price decreases as I own it. in 10 years my cost goes down to 41 cents etc etc.

I still wouldn't like it if the piece decreases in real value as shown with the Kong insert and that poster cost the former owner more than 10 times per day than my poster as well as investment losses

[Ari]

Could be wrong  but anyone with $30k to spend on a bit of paper, possibly doesn't need to worry about what ifs as far as investing, he/she either earned it, in which case I'd assume is smart enough to know about investing, or inherited, and so it's all a bonus. Pretty sure their rent is paid and they have food in the cupboards, so I ain't worrying about them.

[brude]

Congrats, Bruce on the King Kong insert sale, today!

http://auctions.emovieposter.com/Bidding.taf?_function=detail&Auction_uid1=3208760

$36,050.00

 

Yeah, man.
That poster is the bitch's bastard.
Congratulations, Bruce!

[ddilts399]

Well, I got tired of looking through all the linen stuff and missed the part 5 of Bruce's auctions altogether until I just saw the completed list. I missed out on the Sin City, B1, so if the buyer sees this and wants to make a quick 25% profit on it, drop me a PM.

damn... 

[eatbrie]

Yeah, I didn't bid on a bunch of stuff because I was jogging.  It's really too bad Bruce doesn't have a snipping program.

T

[50s]

Yeah, I didn't bid on a bunch of stuff because I was jogging.  It's really too bad Bruce doesn't have a snipping program.

T

I know what you mean... there is an upcoming poster on EMP that should be a big ticket item, but I'll be at work so can't bid. Emovieposter might think it reaches global, but outside the USA, a large chunk of people presumably are probably asleep or at work when one needs to be available for bidding. Sure, I could bid early and show my hand and let you loons send me into bankruptcy, instead, Id rather not bid.






 

[Bruce]

I know what you mean... there is an upcoming poster on EMP that should be a big ticket item, but I'll be at work so can't bid. Emovieposter might think it reaches global, but outside the USA, a large chunk of people presumably are probably asleep or at work when one needs to be available for bidding. Sure, I could bid early and show my hand and let you loons send me into bankruptcy, instead, Id rather not bid.
 

In real world terms, how does this work? Say you would be willing to pay $100, but you can't be there at the end, for some great reason (jogging, sleep, etc).

Why not enter SOME bid ($50, $75, whatever)? When you instead don't bid at all, how exactly does that help YOU?

But the above DOES show how and why early bidding can pay off. When those who forget to bid (or who don't bid as a protest against the "no sniping") are not there, those who DID bid early sometimes get a great buy.

How exactly would a sniping program work with time-extended bidding anyway?

[Simes]

Agreed.  It wouldn't help.

[50s]

How exactly would a sniping program work with time-extended bidding anyway?

They don't really work together, though sniping means showing your hand/ your interest at the latest moment (5 mins before the end). Maybe it is like poker, not that I know poker, but, I hear you don't show your cards early. Isn't it just plain logic, sniping?! Sniping really needs to also be accompanied by no extended bidding.

In real world terms, how does this work? Say you would be willing to pay $100, but you can't be there at the end, for some great reason (jogging, sleep, etc).

Why not enter SOME bid ($50, $75, whatever)? When you instead don't bid at all, how exactly does that help YOU?

But the above DOES show how and why early bidding can pay off. When those who forget to bid (or who don't bid as a protest against the "no sniping") are not there, those who DID bid early sometimes get a great buy.

If I bid early $50 on a poster I was interested in that I thought was worth more than $100 in a visible auction battle setting, I wouldn't win it for a good bargain of $100 let alone $50 because I brought it to others attention (I search price high to low, so all you early bidders are culling the 3000 posters for me and showing me the good ones you are interested in). Sure the chopped liver posters you might score a bargain for $50 but not with the goodies, ultimately you end up with $50 spent on chopped liver. 

[Bruce]

I have had this discussion over and over over the years. People like sniping because they believe it gets them a lower price. They may pretend otherwise, but if it resulted in them paying higher prices, no one would want sniping.

Not having sniping DOES result in higher prices overall, which is why we get higher prices overall than places with sniping.

So you can choose not to participate at all (cutting off your nose to spite your face), or you can adapt to it. How? By managing to be at a computer when items you really care about close (even if it means setting an alarm or postponing a jog) and placing your first bid exactly 5 minutes before the item closes, and then only bidding one increment over the current high bid, and then deciding whether to bid again if you are outbid.

On items you can't be there for, place a bid at a level where you would be very happy to buy them at, and if you get them, you got a great buy, and if you don't, well, you know you didn't care that much or you would have made the effort to be there at the end.

The above is optimum strategy for time-extended auctions. And while they do result in higher prices overall, there are two great benefits. Whenever someone forgets to bid (or boycotts the auction altogether) you may get a great buy, and whenever you really care about an item, it can't be snatched away from you at the last second as it can be in a fixed-time ending auction.

Ask yourself this. If all bidders fully used snipe programs, then EVERY fixed-time ending auction would have NO bids until the very end, and then each person would get to enter a single blind bid! Is that what you want?

And fixed-time ending auctions, which did not exist before eBay are clearly dying out. Consignors get less money overall, so there are fewer and fewer fixed-time ending auctions. If they are so wonderful, why doesn't Heritage make their major auctions fixed-time ending auctions?

Adapt!

[50s]

Ask yourself this. If all bidders fully used snipe programs, then EVERY fixed-time ending auction would have NO bids until the very end, and then each person would get to enter a single blind bid! Is that what you want?

Yes, I usually win such auctions, which are effectively best offer wins.

[Bruce]

Yes, I usually win such auctions, which are effectively best offer wins.

Which is why you love them so much, and also because you pay less. AND I DON'T BLAME YOU ONE BIT! But you can't blame the consignors for preferring to consign to auctions where they receive more money overall.

[Tob]

On items you can't be there for, place a bid at a level where you would be very happy to buy them at, and if you get them, you got a great buy, and if you don't, well, you know you didn't care that much or you would have made the effort to be there at the end.

It's a bit more nuanced than that though. The sniper I use on ebay is useful because you can have bid groups set up - if you're going for multiple posters you can plan accordingly (so if I lose out on poster A, I have more money in my pot and the program will go for poster B and C instead). When you don't have that or you're not around for an auction end that sort of planning goes out the window and when you're an international buyer, trying to get multiple posters to save on postage is pretty essential.

I have done it many times on your site - looked at an auction and identified 5 or 6 posters I'd like to bid on, but then not bid on any of them as the complexities of which one I'd like to get for how much and how that impacts bidding on the others is very hard unless you're rich or there when the auction ends.

I'm not griping btw, I understand you have to end your auctions when it's most convenient for most of your customers, just an alternate view point! And Pay and Hold lessens the pain too.

[Bruce]

It's a bit more nuanced than that though. The sniper I use on ebay is useful because you can have bid groups set up - if you're going for multiple posters you can plan accordingly (so if I lose out on poster A, I have more money in my pot and the program will go for poster B and C instead). When you don't have that or you're not around for an auction end that sort of planning goes out the window and when you're an international buyer, trying to get multiple posters to save on postage is pretty essential.

I have done it many times on your site - looked at an auction and identified 5 or 6 posters I'd like to bid on, but then not bid on any of them as the complexities of which one I'd like to get for how much and how that impacts bidding on the others is very hard unless you're rich or there when the auction ends.

I'm not griping btw, I understand you have to end your auctions when it's most convenient for most of your customers, just an alternate view point! And Pay and Hold lessens the pain too.

What WOULD be the "ideal times" for the auctions to end, if you had your wish?

[Tob]

Personally speaking - about 9pm GMT please The children are in bed and I have a bit of free time to ponder my bid strategy Your Sunday auctions are perfect for me.