Questions for Chris Porter on Superior Auction
Skycap
Posts: 235
The upcoming Superior auction during the evenings of Thursday, July 24, and Friday, July 25, will be different than their previous events. Chris Porter indicates on the Superior web site that “this auction is like any others that we've ever held, except we're closing the lots one at a time, instead of all at once.” However, I still have observations and questions to which I hope Chris can respond for the benefit of all of us. That’s why I chose to put this here rather than just send it direct to him. I believe he has a vested interest in responding here since many of his auction participants visit here.
1. With just under 900 lots, the auction will cover about 450 items per evening, one item at a time. If the activity starts promptly at 7 p.m. and each lot takes an average of one minute to auction off, then the auction will last about seven and a half hours each night, assuming there is no break. This means that people may have to stay awake until approximately 2:30 a.m. Eastern!
2. In prior auctions, one had to bid before 10 p.m. Eastern / 7 p.m. Pacific in order to be able to bid after that time. Is that still the case with this auction?
3. How long in advance can one submit a bid via Ebay Live?
4. Can we put in a “maximum” bid through Ebay Live, or can we only increase it one increment from another participant’s bid? Whose minimum increments would apply when using Ebay Live: Ebay's or Superior's?
5. Will a maximum bid placed on the Superior web site (which apparently stops accepting bids at 10 p.m. Eastern / 7 p.m. Pacific on Wednesday, July 23) carry over into the nights of July 24/25?
6. Can any registered Ebay user participate via Ebay Live, or will there be a special registration within Ebay for only Superior Sports Auction bidders?
7. In the on-line “Terms and Conditions of Sale,” paragraph 1 cites that “Bidders may include consignors who may bid and purchase lot(s) in the Auction Sale consigned by the consignor or by other consignors pursuant to their consignment agreement with Superior.” This appears to mean that consignors may be authorized to bid on their own lots.
Perhaps others will have additional questions. These were mine.
Skycap
1. With just under 900 lots, the auction will cover about 450 items per evening, one item at a time. If the activity starts promptly at 7 p.m. and each lot takes an average of one minute to auction off, then the auction will last about seven and a half hours each night, assuming there is no break. This means that people may have to stay awake until approximately 2:30 a.m. Eastern!
2. In prior auctions, one had to bid before 10 p.m. Eastern / 7 p.m. Pacific in order to be able to bid after that time. Is that still the case with this auction?
3. How long in advance can one submit a bid via Ebay Live?
4. Can we put in a “maximum” bid through Ebay Live, or can we only increase it one increment from another participant’s bid? Whose minimum increments would apply when using Ebay Live: Ebay's or Superior's?
5. Will a maximum bid placed on the Superior web site (which apparently stops accepting bids at 10 p.m. Eastern / 7 p.m. Pacific on Wednesday, July 23) carry over into the nights of July 24/25?
6. Can any registered Ebay user participate via Ebay Live, or will there be a special registration within Ebay for only Superior Sports Auction bidders?
7. In the on-line “Terms and Conditions of Sale,” paragraph 1 cites that “Bidders may include consignors who may bid and purchase lot(s) in the Auction Sale consigned by the consignor or by other consignors pursuant to their consignment agreement with Superior.” This appears to mean that consignors may be authorized to bid on their own lots.
Perhaps others will have additional questions. These were mine.
Skycap
0
Comments
Great questions!! Hopefully Chris will answer soon. Thanks for this thread and the valued imput.
Dave
I realize we've just been through a holiday weekend, but I was hoping Chris could have responded by now. Perhaps the catalog contains info that answers some of my questions.
Skycap
I'd like to take a moment of your time to respond to the questions posed by Skycap in this thread. Each is very significant and should be reviewed and understood by anyone interested in bidding in the auction.
1) This was about time. The auction will start at 8:00 PM EST on Thursday, which will give everyone a chance to socialize in the auction room area before beginning and give everyone a chance to go over any last minute questions on the process. Also, we'll have a buffet set up for everyone to hopefully enjoy - (you never know with catered food!). Once the auction starts, lots will last from 15 seconds up to 2 minutes or so, so yes, the likelihood that it could go late is there. But please remember - typical phone auctions can run well into the night time hours and since most of the bidders will be there they won't have to get up for work in the morning, etc. and some may even want to go out and play after the auction is over!
2) Bidders DO NOT need to place bids on lots prior to the Live portion to enable them to bid at that time.
3) EBAY Live bids may be made as each lot comes up, or a bid may also be placed at any time earlier on the EBAY site and it will be treated as an abentee bid when the lot is Live.
4) Yes, Maximum bids may be placed through EBAY Live, and SSA's Bid increments will be used. Remember, though, that Floor Bids may also be for any amount as long as it increases the current bid by a full bid increment, and any floor bid will have to be a full bid increment higher than any absentee or "Book" bid, which will encourage early absentee bids, I would think, for those who can't attend the show.
5) Yes - all bids placed on our site until 24 hours prior to each night's Live portion start will be included and entered as "Book" Bids.
6) Even if you're a regular EBAYer, you still will need to register for any specific auction on ebay live, including SSA's.
7) This is an issue that we have covered during our previous auction. Simply stated, it is our company's policy that a Consignor may not bid on his or her own lots. If they attempt to the bid will be disallowed. We state the T&C's as they are because we need legal recourse if a consignor has a third party place bids on his behalf that we don't detect. This has caused a lot of dart throwing from the Board members, which is fine, but everyone needs to remember that SSA is in the business of SELLING lots and has no interest in returning them to their owners, so we do everything in our power to attain 100% sell through.
A final point to address is the "newness" of this type of auction in the Sports Collecting World. I've been around for a long time, both as a collector and as part of Superior, so I know that this may seem a little "out there" to a lot of you. But, and this is important, this auction is being handled by our company in the same manner that coin, stamp and currency auctions have been run for years. So, even though right now it may be a little out of our collective comfort zone, if we all work at it and begin to understand, then it may go a long way to further legitimize our hobby to the world at large, which can only help to enhance the value of everybody's collections.....
I hope that this has helped answer some of the questions that are out there and I always welcome any thoughts that are well considered, as these from Skycap have been.
Hobby Regards to all,
Chris
Lelands.com
Chris-
I love the DVD....I (along with many)...probably stayed up late last night watching all of the lots. You did a great job!
John
Skycap
As I 've written before on this topic, I can certainly understand the reason for your question, and the answer is that I don't know exactly why the wording is as it is - the T & C's on that matter are the CU legal team's words and my involvement in the specific text on that issue was nil. I have assumed since the change was made that they had their reasons. Regardless, I believe that any collector out there that refuses to make any attempt to build their collection with our auctions is really shorting himself. We have worked very hard to build this auction, to bring cards to the market that wouldn't have made it any other way, (sorry to all collectors that are sick of my nagging them for their cards), and if you want a card for your collection, you should simply bid on it. If a card is worth $500 to you then bid $500! You may win it or not, but to not even try because you're afraid that a $410 bid that's just under your $430 winning bid is bogus is the wrong reason not to bid. I mean, that's like not eating any restaurant food because you're afraid that the cook spit in it, or refusing to play cards with someone because you just know that they'll cheat - is that any way to live your life?
Chris
Lelands.com
Great post my feelings exactly.
Boys: Bottom line is this you have all been spoiled buy ebay. You all want something for
nothing. Well try to go to a show and by a well sought after card. Your going to pay!!!
Now on ebay many things factor did they see it and so forth. Every week is a crap shoot.
People that set the market are not by means searching ebay everyday for their collection
for the scans are terrible and they would most likely go by chris's word than a seller on ebay.
To all the people that think they are gettin schilled well think about it just because you not
willing to shell out the cash somebody might no someone that will pay for the card. SO PONY
UP if you want it set questions aside.
When you want to sell your collection I'd hope you'd explore every length to realize
the most $$$ because you worked for it.
PS NO CRYING IN BASEBALL
Gator
<< <i>refusing to play cards with someone because you just know that they'll cheat >>
Actually thats a pretty good reason....one that the Casinos themselves subscribe to as well.
For the guys who have tried to beat the system....just get one of your friends buy it (and keep it). Please dont BS us and list it on eBay 2 months down the road or say the buyer "backed out", etc.
John
I have to say that the more I learn about how this "business" is done, the more sad I get. In any case, I'll be there Thursday night to watch the event and at least inspect the lots personally.
E
Used to working on HOF SS Baseballs--Now just '67 Sox Stickers and anything Boston related.
The terms of this auction contain a new provision that was not in your previous auctions: "...bids less than 60% of any low estimate published in the catalogue will not be accepted."
Does this mean, for example, that if a Lot has a minimum bid of $400 and an estimate range of $1000 to $1300, that bids of less than $600 will not be accepted? Or that they will be accepted but even if it is the highest final bid will not be sufficient to win the lot? I ask this because this provision essentially establishes a reserve of 60% of the low estimate for every lot, yet this is not made apparent on the on-line bidding pages nor on eBayLive.
Thanks,
Skycap
An extremely relevant question.
On quite a few of the lots I am tracking, the low estimate is sometimes nearly 3x SMR value. So, thus, the 60% criteria would establish that a winning bid would have to be at least 1.8 times SMR for the card....
As a side note, I thought the 54 Bowman Mantle was the best card in the lot. Thanks again!
Eric
<< <i>Do us a favor though, next time please spare us the Simon and Garfunkel rendition, >>
UNI - Its funny you mentioned that. I put on the DVD Tuesday around 1:00 AM, figuring it would be a quick review for 15 minutes or so. I thought it was neat the few minutes of presentation for each of the nicer cards, but about 30 minutes into it I dozed off and was awoken to Chris singing "Where have you gone Joe Dimaggio?" - Needless to say it was like a bucket of cold water thrown on me
Website: http://www.qualitycards.com
Seriously though again, Chris - I really DID enjoy the presentation, I think you did a damn good job and I hope you continue to put those out for future auctions, it added A LOT (in my humble opinion).
<< <i>My catalog and DVD's came today....VERY nice! I love the PSA 10 Brett Rookie. >>
I agree...
and when he said the Game Used SOSA
bat "might even have a bit of cork in it"
I fell out of my chair laughing!
Wayne
Skycap