Robert Edwards Auction Shock

[legaleagle92481]

My first experience consigning to a major auction resulted in a nightmare. My Brian Uralcher jersey sold for only $1,300 in the REA Auction. Everyone always says how REA brings in the best prices but I guess it goes to show that such isn't always true. I am hoping that the Nicks playoff jersey and Von Miller 1st jersey i consigned to Grey Flannel do better or i will have lost my faith in auction houses. I traded a jersey I paid 4 grand for straight up for the Uralcher. the last time REA had one it went for over 3k and it was a beauty someone got a great deal. I would have gotten more on Ebay.

[Dewey2007]

Re: Robert Edwards Auction Shock

Sorry to hear that legal. I consigned an item to an auction house last year and didn't get anything close to what I thought they might bring considering the guy was a HOFer. I wasn't told prior to consigning that they wouldn't be included in the catalog or at the live auction which was upsetting to find out after the fact.

Anyhow, I always associate REA with baseball and not any of the other major sports. Seems like GFC might be best for football and basketball. Good luck with the Nicks and Miller jerseys!

My first experience consigning to a major auction resulted in a nightmare. My Brian Uralcher jersey sold for only $1,300 in the REA Auction. Everyone always says how REA brings in the best prices but I guess it goes to show that such isn't always true. I am hoping that the Nicks playoff jersey and Von Miller 1st jersey i consigned to Grey Flannel do better or i will have lost my faith in auction houses. I traded a jersey I paid 4 grand for straight up for the Uralcher. the last time REA had one it went for over 3k and it was a beauty someone got a great deal. I would have gotten more on Ebay.

[David]

Re: Robert Edwards Auction Shock

My bad luck consignment story is I once bought for $3,000 a rare 1873 Boston Bostons team cabinet photo including George and Harry Wright and Al Spalding, consigned it to one of the big auction houses where it sold for $1,500, only to see it a few years later sell for $17,000!

[David]

Re: Robert Edwards Auction Shock

The one good thing about the cabinet photo fiasco is I got to boast that I once owned a cabinet photo worth $17,000

[cubbs1232]

Re: Robert Edwards Auction Shock

Stories like these are what keeps me for sending items to auction houses.

[maverick14]

Re: Robert Edwards Auction Shock

Why not just put reserves on the items? Is there an extra charge or reason for not doing so when consigning to auction houses??

[gorilla777]

Re: Robert Edwards Auction Shock

My first experience consigning to a major auction resulted in a nightmare. My Brian Uralcher jersey sold for only $1,300 in the REA Auction. Everyone always says how REA brings in the best prices but I guess it goes to show that such isn't always true. I am hoping that the Nicks playoff jersey and Von Miller 1st jersey i consigned to Grey Flannel do better or i will have lost my faith in auction houses. I traded a jersey I paid 4 grand for straight up for the Uralcher. the last time REA had one it went for over 3k and it was a beauty someone got a great deal. I would have gotten more on Ebay.

I have had that happen too and it really is a horrible feeling to see your items end up that way. For a nice Urlacher jersey with provenance, what is the normal price range, about $4k-$7k?

[legaleagle92481]

Re: Robert Edwards Auction Shock

Why not just put reserves on the items? Is there an extra charge or reason for not doing so when consigning to auction houses??

Other than AMI they won't let you put reserves on them usually. I know GFC and REA don't allow that.

[legaleagle92481]

Re: Robert Edwards Auction Shock

I have had that happen too and it really is a horrible feeling to see your items end up that way. For a nice Urlacher jersey with provenance, what is the normal price range, about $4k-$7k?

Mine was originally from NFL Auctions. i was expecting 3-4k. The last one REA had sold for in that range. $1,300 has to be a record low.

[legaleagle92481]

Re: Robert Edwards Auction Shock

Stories like these are what keeps me for sending items to auction houses.

Unless my GFC items do well, I am going to be doing the same. At least on Ebay you keep control and can end auction if your item is not doing well.

[rose14]

Re: Robert Edwards Auction Shock

I have found that for some reason a lot of the game used items (unless pre 1960) just don't bring as much at their auction as some of the other auction houses. I know the majority of their bidders are hard core vintage memorabilia and card collectors and this is the the event that they look foward to each and every year so this may be a reason. I can say this about Rob Lifson and his auction, there is no other auction house that does more for their consignors and bidders than they do. Every lot in this past auction (except international and oversized lots) will be shipped to the winning bidders FREE of charge. That is unheard of in this hobby. Their auction catalogs are some of the best in the business and they are mailed free to anyone that ask for one. I would say that with the shipping and the printing of those catalogs I would bet that it runs them at least $6-8 each for each catalog that they print and mail to prospective bidders. They also pay out much faster that any auction house I have ever consigned to and I have consigned with pretty much all of them. Well known and repeat customers sometimes even get their winnings before even submitting payment. A true class act auction house.

[legaleagle92481]

Re: Robert Edwards Auction Shock

Sorry to hear that legal. I consigned an item to an auction house last year and didn't get anything close to what I thought they might bring considering the guy was a HOFer. I wasn't told prior to consigning that they wouldn't be included in the catalog or at the live auction which was upsetting to find out after the fact.

Anyhow, I always associate REA with baseball and not any of the other major sports. Seems like GFC might be best for football and basketball. Good luck with the Nicks and Miller jerseys!

Thanks Dewey. I agree with you on REA and baseball. My Mariano did fairly well yesterday. I only consigned Uralcher because they had one a few years ago that did well and I was trying to see if I got better prices from REA or GFC as I am thinking of consigning some really high end items and was trying to decide between the two leaders prices realized wise.

[legaleagle92481]

Re: Robert Edwards Auction Shock

Could the problem have been because it is not football season? Ive gotten some of my best stuff in spring for football but I am curious as to what others think.

[legaleagle92481]

Re: Robert Edwards Auction Shock

I have found that for some reason a lot of the game used items (unless pre 1960) just don't bring as much at their auction as some of the other auction houses. I know the majority of their bidders are hard core vintage memorabilia and card collectors and this is the the event that they look foward to each and every year so this may be a reason. I can say this about Rob Lifson and his auction, there is no other auction house that does more for their consignors and bidders than they do. Every lot in this past auction (except international and oversized lots) will be shipped to the winning bidders FREE of charge. That is unheard of in this hobby. Their auction catalogs are some of the best in the business and they are mailed free to anyone that ask for one. I would say that with the shipping and the printing of those catalogs I would bet that it runs them at least $6-8 each for each catalog that they print and mail to prospective bidders. They also pay out much faster that any auction house I have ever consigned to and I have consigned with pretty much all of them. Well known and repeat customers sometimes even get their winnings before even submitting payment. A true class act auction house.

I noticed there wasn't much GU stuff in the catalog. I am not faulting Rob or the company it happens I was just shocked that it went for so little.

[gingi79]

Re: Robert Edwards Auction Shock

Could the problem have been because it is not football season? Ive gotten some of my best stuff in spring for football but I am curious as to what others think.

That could be a part of it however considering the providence, I can't think of a single GU collector who would pass on a first ballot HOF for $1300. Even as a flip, even a novice collector knows that's easy money to recoup.

People love to throw around " An item is only worth what someone is willing to pay for it" Here, Legal gets the short end of the unfortunate "Who the hell wouldn't pay that for that item" I can only hope Karma allows you to somehow uncover some epic life changing piece for pennies on the dollar. Like Walter Payton for a grand or Barry Sanders photomatched for $1200

No one else said it, I will: Yes Legal, you got hosed and that sucks. The GU gods owe you sir.