off to another good start!
Thanks to everyone who attended our Jan 19 2013 auction…a great way to start off another new year!
Over 200 registered bidders and over 600 lots sold, with a few record prices (at least for us), thrown in for good measure!
January auctions are always some of our best. In the last 17 years I don’t recall ever having a bad January auction.
When I am preparing this auction, back in December, I sometimes encounter some slight concern from consignors about putting their items in a January auction. Some people think there is no money around after Christmas, people are not interested in buying etc. I tell them to trust me. This is the sale you want your items in. There is never a guarantee, but judging from my experience, the results are likely to be good.
In the winter months, many people have time on their hands, and they can spend a full day at an auction. That’s what we need. As we get closer to the spring months, the crowds drop off a little until we start with our Saturday night auctions in June. Doesn’t mean you won’t get fair prices for your items in May or early June, but there will be smaller crowds at the auctions.
I did mention we had a couple of record prices, but I won’t mention them here, simply because it may mislead some people as to the value of their items. There are simply times when two people want something very badly, and the price can go through the roof. However, that does not mean we have set a new benchmark for the value of that particular item, because that price may never be realized again. There are auctions when you just have to realize you got lucky, and it may not happen again on that type of item. Now, if they consistently sell for that price, that’s another story!
On the other side, we had a new low price. A pretty decent Victorian sofa, nicely refinished woodwork with clean upholstery, and it sold on one bid for only $50. Great for the buyer, but not good for the consignor and not good for me. I drove for 45 minutes to pick up that piece (along with the other pieces they consigned), loaded it, unloaded it in the storage, did the photos, loaded it for the auction and then of course unloaded again. After all expenses for the auction are factored in…I made $8.50. I turned down two other similar sofas for this auction, and I think it is going to be tough to get me to take any more for upcoming auctions!
The market is always changing and as an auctioneer I am always learning. Case in point. Back in September one of my regular consignors wanted me to take two very heavy, chrome and leather lounge chairs, with split and damaged upholstery. I turned them down because I just did not see the value in them. Later in December he asked me to take them again, as he had to close out his locker. He told me they were valuable chairs,, and with a great deal of reluctance, I loaded them into my van. He emailed me the name of the chairs designer, Nicos Zographos, and I did a little research. Completely reupholstered in leather, they were asking $2800 a piece for them on-line!
So the next question in my mind was…is anyone going to realize the potential value of them? I pushed them in my advertising, explained what they were when we sold them,, and they finally sold for $425 a piece. A great deal for the buyer and considering the condition, a good price for the seller as well. The two items I originally turned down, brought some of the top money in the sale! I don’t mind admitting, I don’t know it all, and always will have something to learn.
So now, with the January sale under my belt, I start working on the Feb 23 auction. Already lined up some good stuff this week, and looking forward to
more great stuff coming my way next week. This business is always changing, always interesting, and I always look forward to the next auction!