ConeAddict wrote: ↑Sun Jul 28, 2019 9:47 am
mtracy64 wrote: ↑Sat Jul 27, 2019 11:33 pm
There is a 17% Buyer's Premium, discounted 3% for payment by check or money order.
Many beer can people have abandoned eBay over the years, particularly those with deep pockets, and I would guess that some of Dan's bidders never were on eBay in the first place. The hobby has always had some big buyers that don't attend shows or circulate in the hobby - they just buy from dealers. I assume some of these people partake in the auctions too.
As for what people bid at auctions, who knows? On high-end stuff, there's probably the "when will I see another one?" thing going on, but why a $250 can would sell substantially higher is a mystery.
Some items are consigned in these auctions, and I suppose a consignor could bid on their own item, but that could backfire in a big way too.
Marc
Crap, I thought it was still a 15/12 premium. For what it's worth I think I just bought my 6th can in these Morean auctions, 2 of them I sold on ebay about a year later and turned a nice profit on both. I thought I overpaid in both cases and was nervous putting them on ebay but tough, clean, attractive cans seem to hold their value and then some right now. I mean 400+ items yesterday and prices looked pretty strong throughout, that's pretty amazing, there are either a lot more collectors than I thought or a few of them are spending a lot of dough on multiple cans/signs.
The late bidding was pretty annoying but then I found myself doing the same thing, I guess the ebay sniping has some of us in last second mode even when it really doesn't help. I would think you are probably safer from shilling in these auctions than on ebay.
I almost missed the 17/14 thing when I logged in - it was still 15/12 for the last auction. Funny thing is, I would have won a can if I had missed the change.
My first experience with a Morean Auction was winning a Grossvater J for about half of what it should have sold for. My second experience was Rand's OI auction, and I won nine cans and then bought another that missed the soft reserve by $10. I had one bargain in the group, and the others were all within roughly 10% of my expectation. My next experience was last fall, when I picked up a Fitzgerald's Beer J at a bargain price. I thought I paid about half price again. I later found that exact can listed as sold on another dealer site, and the price was more than four times what I paid. I bought one can in the last auction and paid my absolute max for it, then I got skunked yesterday.
As for bidding late - I can't speak for others, but I don't like leaving my money tied up. If I pre-bid and have the high bid, I can't spend that money if something else I want turns up in the interim. There were many cans I'd love to have in the auction, but really only three that I thought I might get at my price, and I was only willing to spend enough to get one. So, I had to see what happened with the first one before bidding on the second, and so on. Each can sold at one increment past my limit - the first one got there without my help, and I was underbidder on the other two.
My first thought when Dan announced this auction was "What, aren't you competing against yourself here?". But, I guess he knows what he's doing.
Marc