advice about selling jerseys

[SirCharles]

Hi. I'm looking to send some NBA jerseys to an auction house, but have a couple of quick questions.
1. Is it better to have them sold during the NBA season because they would go for higher prices then?
2. What if a jersey (or jerseys) are lost or stolen? I assume the auction house would be insured, and the 'value' of the item(s) would be whatever one last sold for at auction?

[justinwc80]

Re: advice about selling jerseys

Typically you will command a higher price on jerseys in season, other variables that help the price is a pending retirement, first time on hall of fame ballot or other noteworthy media attention. When shipping your item you should insure it, as far as auction houses having insurance this depends on which one you use, I would call and ask before sending.

[legaleagle92481]

Re: advice about selling jerseys

Hi. I'm looking to send some NBA jerseys to an auction house, but have a couple of quick questions.
1. Is it better to have them sold during the NBA season because they would go for higher prices then?
2. What if a jersey (or jerseys) are lost or stolen? I assume the auction house would be insured, and the 'value' of the item(s) would be whatever one last sold for at auction?

First question, who are these jerseys of? Superstars, allstars, long time veterans or scrubs? Are they current players? If they are lower end items (worth $500 or less) you may want to try selling them on here. Most of the bidders in an auction are members here and auctions charge you a 15-20% commission which lowers what you realize moneywise and the buyer a 20% buyer's fee which affects how much people bid. If they are current star-type players then in-season is the best time to sell them especially during the lull between the nfl and baseball season when the NBA is the most popular game in town in the USA. If the player is in the playoffs that is also a goodtime. Impending major news events also are a good time. For example, Dennis Johnson's family consigned some of his stuff to the last GFC auction and while the auction was on he got elected into the HOF causing the prices to skyrocket. Some players though it does not really matter people will pay a mint for Jordan or Lebron at any time and the season and playoffs streach so long there really is not much of an offseason. GFC is accepting consignments of basketball stuff for their HOF auction so even though itll be in the summer it would be a good one to consign to because that is the best auction of the year for the NBA.

I have not heard of an auction house having items lost or stolen they have good secruity. Many of them have auctioned off stuff worth six figures. They are insured though and the value would be whatever the item is appraised at not necessairly the last price realized in an auction. In many cases there may not have been a recent auction for a comparable item and each item is different, a variation i.e. year the item was used, whether it is a home or away jersey can greatly affect value.

[David]

Re: advice about selling jerseys

Ask the auction house. I would imagine major auction houses have insurance for their cognsignments, for their safety as much as the cognsignors.

[Mark17]

Re: advice about selling jerseys

My advice: Be very, very careful.

I sent some items to a major auction house, received from them a verbal estimate of their value, but when the items didn't sell and were sent back to me, they were lost at a Fedex sorting facility.

I was assured the auction house did have insurance, but It's been more than 7 months now and I have not received anything, not even communication from Fedex or any insurance company that a claim has even been submitted. Initially the excuse was that they didn't have any way to determine their value. I don't know what the excuse is now, for the long delay...

And now, my phone calls haven't been returned in over a week, either. So, choose your auction house very carefully.

[SirCharles]

Re: advice about selling jerseys

GFC= Grey Flannel then? And they have a yearly NBA auction during the time of the new HoF inductions?

[legaleagle92481]

Re: advice about selling jerseys

My advice: Be very, very careful.

I sent some items to a major auction house, received from them a verbal estimate of their value, but when the items didn't sell and were sent back to me, they were lost at a Fedex sorting facility.

I was assured the auction house did have insurance, but It's been more than 7 months now and I have not received anything, not even communication from Fedex or any insurance company that a claim has even been submitted. Initially the excuse was that they didn't have any way to determine their value. I don't know what the excuse is now, for the long delay...

And now, my phone calls haven't been returned in over a week, either. So, choose your auction house very carefully.

It also depends on where you are located if you live in the northeast most auction houses are a short drive away so you can just drop off and pick up.

[legaleagle92481]

Re: advice about selling jerseys

GFC= Grey Flannel then? And they have a yearly NBA auction during the time of the new HoF inductions?

Yes they are accepting consignments now until June I believe. They should be wrapping up getting all the items and checks out from the last auction so in a week or two would probably be best time to contact them about the next auction.

[SirCharles]

Re: advice about selling jerseys

thanks for the help
one more thing... I read a post that mentioned different fees @ GFC, I believe 15% for being featured in the catalog and another at 7%. Can someone fill me in on that?

[Mulligans]

Re: advice about selling jerseys

As I understand...the upcoming GF Hall of Fame Basket Ball Auction is 20%....NON-NEGOTIABLE! They were very quick to point that out!

[pietraynor]

Re: advice about selling jerseys

Mark17 could you send me an email, have a quick question for you..thanks, Jay
ldonalds@columbus.rr.com

I recently listed a couple items in a major auction w/disappointing results...Just a couple of reminders: 1) Be sure to ck on/get in writing the minimum bid or reserve (recent thread ref this); 2) Even though you may have LOA/COA w/ item(s), they may use a 3rd party authenticator, thus adding additional fees; 3) Ask about their "buy back" policy if item(s) fail to sell. Jay.

[legaleagle92481]

Re: advice about selling jerseys

Mark17 could you send me an email, have a quick question for you..thanks, Jay
ldonalds@columbus.rr.com

I recently listed a couple items in a major auction w/disappointing results...Just a couple of reminders: 1) Be sure to ck on/get in writing the minimum bid or reserve (recent thread ref this); 2) Even though you may have LOA/COA w/ item(s), they may use a 3rd party authenticator, thus adding additional fees; 3) Ask about their "buy back" policy if item(s) fail to sell. Jay.

to add to what you are saying as i pointed out in an earlier post the key issue is what they are worth as it is really not worth consigning stuff worth under 500 to an auction house.