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BBCE Auction? Anyone win anything?

Anyone bid in the first BBCE Auction? The box selection was amazing.

Mike

Comments

  • craig44craig44 Posts: 10,215 ✭✭✭✭✭

    I didnt see it. What were the highlights?

    George Brett, Bobby Orr and Terry Bradshaw.

  • coinspackscoinspacks Posts: 938 ✭✭✭

    i bid and got outbid while i slept

  • TiborTibor Posts: 3,138 ✭✭✭✭✭

    Didn't know there was an auction. They should this forum
    to advertise the next one.

  • grote15grote15 Posts: 29,432 ✭✭✭✭✭
    edited November 8, 2023 1:59PM

    I was outbid on the lots I was bidding on. Prices were strong for unopened baseball. 162K for a PSA 8 52 wax pack. 9K for a PSA 7 71 cello and 11K for a 71 rack were some of the highlights. Vintage unopened is alive and well.

    https://bid.bbceauctions.com/lots/gallery?category=22



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • ndleondleo Posts: 4,034 ✭✭✭✭✭

    Is it me or did some of the PSA singles slightly underperform? The wax seemed to do well as expected.

    I agree the advertising was lighter than I usually see.

    Mike
  • I bid and lost. Mine went for like 10% higher than the highest recent sale. There was a really nice PSA 9 Stabler which if I had more disposable cash I would now own. 😁

  • smallstockssmallstocks Posts: 1,577 ✭✭✭

    I won two individual cards. Very happy with the bargains I got.


    Late 60's and early to mid 70's non-sports
  • BLUEJAYWAYBLUEJAYWAY Posts: 7,777 ✭✭✭✭✭

    Curious why they waited until now to begin their first auction. Did they make a large purchase,material not moving at a higher previous price?

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • 1951WheatiesPremium1951WheatiesPremium Posts: 6,199 ✭✭✭✭✭

    @BLUEJAYWAY said:
    Curious why they waited until now to begin their first auction. Did they make a large purchase,material not moving at a higher previous price?

    My two cents…

    I think sometimes it just takes time to see a decision like this come to fruition, meaning the decision to start to auction material through their own newly created website was likely made some time ago. In addition to the time for the website build, you probably want to get word out and leverage some connections and friendships into consigning some great material, too.

    I don’t know Mr. Hart and I don’t recall ever buying from BBCE because unopened is not my niche but if you generally follow the hobby, he’s a massively important and wildly busy figure in the unopened world; so busy that this new aspect could have evolved from a decision made 2-3 years ago as many existing auction houses started to see serious growth and strong prices as the overall hobby did the same. As someone who tends to be optimistic about things, prices are maybe off some all time highs but I think a great item still generates a very strong price. If you bought a card more than five years ago, you’re probably still ahead though maybe not by the margin you were two years ago. Still, there’s always someone or something that re-ignites the collecting of cards every few seasons.

    As for BBCE, it already seems to be a very solid business, as is, and I’d hazard a guess to say they’ll still have large inventory available, as well. But I think it probably helps them value and price items in inventory in a public way and it will also ensure that when a product gets hot that inventory prices can be adjusted so that not much money is left on the table. Their stuff now already populates auction house offerings and draws a significant premium to non BBCE certified material anyway so I’m sure as the overall data was looked at, it became clear that they could and should add auctions to their platform to capitalize further on the value of their brand.

    Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?

    https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest

  • BLUEJAYWAYBLUEJAYWAY Posts: 7,777 ✭✭✭✭✭

    @1951WheatiesPremium said:

    @BLUEJAYWAY said:
    Curious why they waited until now to begin their first auction. Did they make a large purchase,material not moving at a higher previous price?

    My two cents…

    I think sometimes it just takes time to see a decision like this come to fruition, meaning the decision to start to auction material through their own newly created website was likely made some time ago. In addition to the time for the website build, you probably want to get word out and leverage some connections and friendships into consigning some great material, too.

    I don’t know Mr. Hart and I don’t recall ever buying from BBCE because unopened is not my niche but if you generally follow the hobby, he’s a massively important and wildly busy figure in the unopened world; so busy that this new aspect could have evolved from a decision made 2-3 years ago as many existing auction houses started to see serious growth and strong prices as the overall hobby did the same. As someone who tends to be optimistic about things, prices are maybe off some all time highs but I think a great item still generates a very strong price. If you bought a card more than five years ago, you’re probably still ahead though maybe not by the margin you were two years ago. Still, there’s always someone or something that re-ignites the collecting of cards every few seasons.

    As for BBCE, it already seems to be a very solid business, as is, and I’d hazard a guess to say they’ll still have large inventory available, as well. But I think it probably helps them value and price items in inventory in a public way and it will also ensure that when a product gets hot that inventory prices can be adjusted so that not much money is left on the table. Their stuff now already populates auction house offerings and draws a significant premium to non BBCE certified material anyway so I’m sure as the overall data was looked at, it became clear that they could and should add auctions to their platform to capitalize further on the value of their brand.

    Thank you for your viewpoint.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • ndleondleo Posts: 4,034 ✭✭✭✭✭

    I've been waiting for BBCE to get into the auction game. It seemed like an obvious move since he has a strong niche and advantage over other auction houses.

    Mike
  • BLUEJAYWAYBLUEJAYWAY Posts: 7,777 ✭✭✭✭✭

    Judging by the number of bids per item, vintage unopened seems to be a small niche market. It is quite active but dwells within a small group. This may be due in part to the high prices. I thought there would be many more bids per item then there was given the scarcity of the product.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • 80sOPC80sOPC Posts: 1,184 ✭✭✭✭✭

    The hockey seemed to go cheap, 2K for a 78 OPC wax box feels like good value and the Mario on back pack, same thing, i would have bought both at those prices but didn't know this was a thing.

  • grote15grote15 Posts: 29,432 ✭✭✭✭✭
    edited November 11, 2023 10:08AM

    @BLUEJAYWAY said:
    Judging by the number of bids per item, vintage unopened seems to be a small niche market. It is quite active but dwells within a small group. This may be due in part to the high prices. I thought there would be many more bids per item then there was given the scarcity of the product.

    There may have been fewer bids but the bids that were placed were assertive ones as all of the vintage unopened baseball lots I was following finished at strong prices. There was a lot of early activity within the first day or two on the more highly sought after lots which is not always the case with auction houses where "chip or placement bidding" is routine.



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • nendeenendee Posts: 549 ✭✭✭

    As stated, despite the market softness in the hobby this end of year, vintage wax was real strong. No “deals” to be had there

    Cubs and Purdue Fan - Ouch!

    My collecting blog: http://ctcard.wordpress.com
  • coinspackscoinspacks Posts: 938 ✭✭✭

    Is that the next Reed-buy ?

  • 80sOPC80sOPC Posts: 1,184 ✭✭✭✭✭

    Great buy, I would have bid you up! That pack was a steal.

    @ReedDACW said:

    @80sOPC said:
    The hockey seemed to go cheap, 2K for a 78 OPC wax box feels like good value and the Mario on back pack, same thing, i would have bought both at those prices but didn't know this was a thing.

    I bought the Lemieux pack for my PC. I've seen way fewer 1985/86 OPC Hockey packs than I have 1986/87 Fleer Basketball packs in my life, and I can't imagine this pop growing by much in the coming years. I'm not even sure how it got to 10 packs in the first place.

  • BLUEJAYWAYBLUEJAYWAY Posts: 7,777 ✭✭✭✭✭

    @SmithAuctionCo said:

    @BLUEJAYWAY said:
    Judging by the number of bids per item, vintage unopened seems to be a small niche market. It is quite active but dwells within a small group. This may be due in part to the high prices. I thought there would be many more bids per item then there was given the scarcity of the product.

    The number of bids on an item does not represent the number of interested bidders for an item.

    If there are 100 interested buyers for an item at $5,000, and one bidder places a first max bid of $4,900, and a second bidder places a bid of $5,000, then there are just 2 bids on the item. That obviously does not mean only 2 people were interested in the item.

    Vintage unopened wax has a very strong group of buyers that is only growing over time. And many of the buyers have very deep pockets.

    I have no way of ascetaing how many interested buyers there are for any lot. Hence, why I based my viewpoint on the only specific number available, the number of bids placed.
    No doubt the bidders have deep pockets, what with the realized prices.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • craig44craig44 Posts: 10,215 ✭✭✭✭✭
    edited November 14, 2023 7:17AM

    @SmithAuctionCo said:

    @BLUEJAYWAY said:
    Judging by the number of bids per item, vintage unopened seems to be a small niche market. It is quite active but dwells within a small group. This may be due in part to the high prices. I thought there would be many more bids per item then there was given the scarcity of the product.

    The number of bids on an item does not represent the number of interested bidders for an item.

    If there are 100 interested buyers for an item at $5,000, and one bidder places a first max bid of $4,900, and a second bidder places a bid of $5,000, then there are just 2 bids on the item. That obviously does not mean only 2 people were interested in the item.

    Vintage unopened wax has a very strong group of buyers that is only growing over time. And many of the buyers have very deep pockets.

    Of course, there are many "interested" bidders on desirable items. I dont think sellers really care how many are "interested" though. They want "serious" bidders. When I set up at the local card show, many of my higher value items have lots of "interested" people looking. However, there are only 5-7 guys who are serious buyers for those items. It would be the same for high priced unopened. For example, I am an "interested bidder" for the 1914 Ruth that is up. I am not, however, a realistic buyer for that card.

    I think the earlier assertion that vintage unopened is a small niche, is no doubt accurate. It is a small part of a larger hobby. I would agree that the small group of real buyers do have very deep pockets.

    George Brett, Bobby Orr and Terry Bradshaw.

  • @craig44 said:

    @SmithAuctionCo said:

    @BLUEJAYWAY said:
    Judging by the number of bids per item, vintage unopened seems to be a small niche market. It is quite active but dwells within a small group. This may be due in part to the high prices. I thought there would be many more bids per item then there was given the scarcity of the product.

    The number of bids on an item does not represent the number of interested bidders for an item.

    If there are 100 interested buyers for an item at $5,000, and one bidder places a first max bid of $4,900, and a second bidder places a bid of $5,000, then there are just 2 bids on the item. That obviously does not mean only 2 people were interested in the item.

    Vintage unopened wax has a very strong group of buyers that is only growing over time. And many of the buyers have very deep pockets.

    Of course, there are many "interested" bidders on desirable items. I dont think sellers really care how many are "interested" though. They want "serious" bidders. When I set up at the local card show, many of my higher value items have lots of "interested" people looking. However, there are only 5-7 guys who are serious buyers for those items. It would be the same for high priced unopened. For example, I am an "interested bidder" for the 1914 Ruth that is up. I am not, however, a realistic buyer for that card.

    I think the earlier assertion that vintage unopened is a small niche, is no doubt accurate. It is a small part of a larger hobby. I would agree that the small group of real buyers do have very deep pockets.

    By "interested", I mean willing to bid / pay.

    The point was that you can never judge the amount of willing bidders an item has by the number of bids. An item can have 100 bids and only 2 active bidders bidding in small increments - or it can have a very small amount of bids with bidders bidding in big increments.

    I would not look at the BBCE auction or any auction and say, "Wow, that unopened box only had 4 bids. Only 4 people wanted to buy it - the market for it is small." Only the price realized matters in the end...

  • craig44craig44 Posts: 10,215 ✭✭✭✭✭

    @SmithAuctionCo said:

    @craig44 said:

    @SmithAuctionCo said:

    @BLUEJAYWAY said:
    Judging by the number of bids per item, vintage unopened seems to be a small niche market. It is quite active but dwells within a small group. This may be due in part to the high prices. I thought there would be many more bids per item then there was given the scarcity of the product.

    The number of bids on an item does not represent the number of interested bidders for an item.

    If there are 100 interested buyers for an item at $5,000, and one bidder places a first max bid of $4,900, and a second bidder places a bid of $5,000, then there are just 2 bids on the item. That obviously does not mean only 2 people were interested in the item.

    Vintage unopened wax has a very strong group of buyers that is only growing over time. And many of the buyers have very deep pockets.

    Of course, there are many "interested" bidders on desirable items. I dont think sellers really care how many are "interested" though. They want "serious" bidders. When I set up at the local card show, many of my higher value items have lots of "interested" people looking. However, there are only 5-7 guys who are serious buyers for those items. It would be the same for high priced unopened. For example, I am an "interested bidder" for the 1914 Ruth that is up. I am not, however, a realistic buyer for that card.

    I think the earlier assertion that vintage unopened is a small niche, is no doubt accurate. It is a small part of a larger hobby. I would agree that the small group of real buyers do have very deep pockets.

    By "interested", I mean willing to bid / pay.

    The point was that you can never judge the amount of willing bidders an item has by the number of bids. An item can have 100 bids and only 2 active bidders bidding in small increments - or it can have a very small amount of bids with bidders bidding in big increments.

    I would not look at the BBCE auction or any auction and say, "Wow, that unopened box only had 4 bids. Only 4 people wanted to buy it - the market for it is small." Only the price realized matters in the end...

    Yes, the realized price does matter. However, if there are a very limited amount of serious buyers for an item at a certain price level, once those buyers are satiated, the price will drop. and sometimes by quite a lot. It has happened over the years. You may remember the Omar Vitzquel craze from a few years ago. prices went nuts, but it only ended up being just a few serious buyers and once they got what they wanted, prices deflated greatly.

    That is the uncertainty with a niche market. Once serious buyers have had their fill, or age out of their prime earning years, what will happen to prices? will a new generation enter the market? No one knows. Anecdotally, the young folks I have had dealings with are very much into modern and ultra-modern and not much else.

    George Brett, Bobby Orr and Terry Bradshaw.

  • lawyer05lawyer05 Posts: 2,131 ✭✭✭✭

    its sad some of us didnt know this auction was on... there used to be an app that carried all auctions

  • TiborTibor Posts: 3,138 ✭✭✭✭✭

    Surely BBCE would have "advertised"it on this forum.

  • gemintgemint Posts: 6,055 ✭✭✭✭✭

    @lawyer05 said:
    its sad some of us didnt know this auction was on... there used to be an app that carried all auctions

    Are you referring to Auction Report? They list all major active and upcoming auctions.

    https://auctionreport.com/bid-now-collectible-classics-current-auction-ends-november-16-2023/

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