it seems to me that the general sentiment regarding setting auction lot estimates is to set them relatively low in order to a) encourage interest and bidding and b) to impress consigners when their items go for more than the estimate; "we beat the estimate!". in my experience, most times hammer prices exceed estimates.

that said, i was persuing MEARS' latest auction results and noticed that many of their items fell FAR short of the published estimates. (note: i'm talking about estimates here not reserves). some examples:

Lot #453: 1993-94 Elden Campbell Los Angeles Lakers game-worn warm-up
Estimate $250/$350
Final Bid: $101.20

Lot #474: 1985-86 Granville Waiters Houston Rockets road game jersey
Estimate $300/$400
Final Bid: $121.00
Price: $425.00 (this item was priced at $425 on their website prior to the auction).

Lot #454: 1991-92 Mark Jackson New York Knicks game-worn jersey
Estimate $250/$350
Final Bid: $133.10

Lot #456: 1995-96 Gerald Wilkins Vancouver Grizzlies game-worn jersey
Estimate $500/$600
Final Bid: $110.00

Lot #455: 2002 Carlos Delgado Toronto Blue Jays Alternate game-worn jersey MEARS A10
Estimate $1000/$1500
Final Bid: $399.30

Lot #411: 1986-87 Dave Winfield Louisville Slugger professional game-used bat
Estimate $750/$1000
Final Bid: $184.80

Lot #106: 1994 Fred Lester New York Jets road game jersey
Estimate $250
Final Bid: $74.80

Lot #447: 1989 David Viaene New England Patriots game-worn jersey
Estimate $650
Final Bid: $220.00

Lot #475: 1992 Mark Sander Miami Dolphins home game jersey
Estimate $200/$300
Final Bid: $91.30

rough economy or wildly unrealistic estimates? the differences between some of those estimates and the final hammer prices is pretty shocking. also surprising was the granville waiters shirt that MEARS priced at $425 on their website and the market determined it was worth $121.

rudy.