trainman9
Posts: 431 | Auctions and estimated valueJun 19, 2024 14:10:53 GMT Post by trainman9 on Jun 19, 2024 14:10:53 GMTHow do some of the auction sites like Stout and some others come up with some of their value estimates. Sometimes I look at the values and I’m astounded. Is it an attempt to influence the bidders or just providing information. |
steveoncattailcreek
Posts: 384 | Auctions and estimated valueJun 19, 2024 14:39:53 GMT Post by steveoncattailcreek on Jun 19, 2024 14:39:53 GMT
Jun 19, 2024 14:10:53 GMT trainman9 said: How do some of the auction sites like Stout and some others come up with some of their value estimates. Sometimes I look at the values and I’m astounded. Is it an attempt to influence the bidders or just providing information. My best guess is: yes. |
healey36
Posts: 1,017 | Auctions and estimated valueJun 19, 2024 16:46:01 GMTharborbelt70 likes this Post by healey36 on Jun 19, 2024 16:46:01 GMTLikely an estimate based on historical prices paid by top-tier collectors, with a bit of wishful thinking thrown in. In my experience, final prices tend to be all over the place. A lot of stuff never reaches the reserve. |
JDaddy
Posts: 3,400 | Auctions and estimated valueJun 19, 2024 17:17:20 GMT Post by JDaddy on Jun 19, 2024 17:17:20 GMTI skip the high priced stuff. Its an auction not a buy it now price. There are some good deals but usually not what you are looking for. |
af3020
Posts: 345 | Auctions and estimated valueJun 19, 2024 18:12:41 GMTharborbelt70 likes this Post by af3020 on Jun 19, 2024 18:12:41 GMT I'd say Healey36's comment is most likely how it is done. I've watched and participated in a number of auctions over the years and as Healey36 noted, the final hammer price can vary considerably from the estimate in either direction. What I do know is if there is something that at least two people with deep pockets want to add to their respective collections the final price will often be way past the upper estimate. I recently watched the Bertoia auction for mainly non-train toys which included a number of toy banks, boats and cars in fantastic condition and the majority either fell somewhere between the estimate range of worth or went way past the upper estimate. Since I was in the mood for some entertainment I watched it live and I could see the duel between what had to have been two bidders for a particular item play out time and again. |
josef
Posts: 5,109 | Auctions and estimated valueJun 19, 2024 20:10:57 GMT Post by josef on Jun 19, 2024 20:10:57 GMTI believe most estimate of value of items are exaggerated and hping what the auction house and seller can get. I remember years ago, my only time in bidding on a plane were the estimate was exaggerated and my bid way below their estimate and what the seller minimum requirement was not met and so the plane was taken off. Makes me leary of almost all auction houses. I knew the plane, hours, and inspection and certification needed. Most knew this and wouldn't bid. There were 5 of us and we each had our limits to its worth and problems. |
Last Edit: Jun 20, 2024 17:18:42 GMT by josef |
harborbelt70
Posts: 4,121 | Auctions and estimated valueJun 20, 2024 22:28:19 GMT Post by harborbelt70 on Jun 20, 2024 22:28:19 GMTBased on my own experience, none of which is recent as in the last two years, themajor auctioneers like Stout and Trainz have a bank of information by model and condition that they use in connection with estimates. The prices actually obtained are as others have noted = all over the place. I've noticed that many items I'm interested enough to look at get more than the estimate but some don't sell at all. It's not quite a lottery. |
chuck
Posts: 35 | Auctions and estimated valueJun 20, 2024 23:30:08 GMT Post by chuck on Jun 20, 2024 23:30:08 GMTI've been burned twice by Stout in Indiana thru online bidding. Both times I won but never received an invoice for the items. Both times after calling the auction house was told "you didn't actually win as a floor bidder won" excuse. Few of us started a topic about this very practice on the other forum and it was starting to go viral before AA (arsehole arnie) deleted it and sent out nasty emails about how unfair it was as back then Stout couldn't respond. I called mr aa out on that as Derek from Notch 6 worked for Stout and he could respond as he's a forum member. That was it booted for life. It didn't help that I called aa a downright thief about that bridge he bought before York officially opened. That opened a whole 'nother can of worms. AA and Melvin are a real match. |
Last Edit: Jun 21, 2024 0:24:08 GMT by JKP |
frankmulligan
Posts: 31 | Auctions and estimated valueJun 21, 2024 1:07:52 GMT Post by frankmulligan on Jun 21, 2024 1:07:52 GMTThe auctions on Stout usually at a minimum reach the top of the estimate. Who cares what the estimate is. Just bid on what you think something is worth to you. What really annoys me is the added on fees. Their shipping is definitely inflated, and why the buyer's premium when they are getting commission from the seller? Just today I lost an auction for the Lionel Lincoln funeral train with add-on cars. My bid was beat and I was going to bid $775 when it told me that with just the buyer's premium the total cost was close to $950. No thanks (the auction did end at $1700). Makes me wonder who would pay that with an additional $300 or so of buyers premium. And knowing Stout, and additional $100+ for shipping and handling. I'm amazed at how high the bidding goes with such stupid fees! |
af3020
Posts: 345 | Auctions and estimated valueJun 21, 2024 1:38:06 GMT Post by af3020 on Jun 21, 2024 1:38:06 GMTOne thing to remember about an auction where you put in a maximum bid -depending on how the bidding increments are going the final bid may be the max you bid but you were not the person who bid that number. Say, for example, you put in a maximum bid of $1000 on an item and the increment bids are $100. Say another bidder put in a bid of $600. Your next bid, and the one you would see would be $700 and the notification on the site would say bid now $700. So the next bid goes to $800, you go to $900, and the next (not you) goes to $1000 and the bidding stops there and you were outbid. I've had this happen a couple of times - no big deal. |
atsda
Posts: 2,531 | Auctions and estimated valueJun 21, 2024 3:55:04 GMT Post by atsda on Jun 21, 2024 3:55:04 GMTI have never followed the progress of a train auction. I am not likely to participate in an auction; however, it has been interesting to hear about perspectives and strategies. Alfred |
