I spend a lot of time going to auctions and sales, both as a collector and to observe how other people conduct their business. The more I do this, the more it reinforces to me how well the “auction method” of sales works.
Here are several reasons that make auctions a good way to sell:
• You know when the item will sell! Not next week, not next month, but exactly on the date you have the auction.
• The price is determined by all the bidders, not just one or two people marking price tags. No one is an expert on everything, but when you have the benefit of 80-100 people on the auction floor plus another 100 registered bidders on line, you are going to get a true read as to what that item is valued at on that day.
• No Negotiations, no haggling. It’s sold. Period.
How many times on Antique Roadshow do you hear someone say, “I paid 5 dollars for it at an estate sale,” and the item is worth hundreds if not thousands? Don’t know that I’ve ever seen an item come up on the Roadshow where someone says they bought an item at auction and it turns out to be worth 1000 percent of what they paid.
I recently, at the National Auctioneers Convention met a fellow auctioneer, Mike Brandly, from Columbus, Ohio. He graciously allowed us to use on our website something he wrote entitled, “An Auction vs. a tag or estate sale.” Good insight into how to best sell precious items. Here’s the link http://www.capitolauction.net/versus.html
Hope to see you soon,
Terry Mangum – Professional Auctioneer, Salem, Oregon
On Saturday, May 8th, Capitol Auction will be auctioning off a rare 1948 CF Martin D-28 guitar. Even if you don’t have an interest in guitars, you’ll want to see this one. Besides being 62 years old and made from the finest of woods (Brazilian rosewood, spruce and ebony) it has a heritage that dates back to 1833 when the Martin guitar company was founded.
CF Martin came to America from Germany during the first half of the 19th century and his descendents, in Nazareth, Pennsylvania still run this distinctive company. In fact, CF Martin IV is the current CEO.
While guitars come in many shapes and forms the iconic one that we think of; the one that Roy Rodgers, Johnny Cash, Crosby , Stills, Nash & Young and John Mayer played or plays today is a Martin.
Here’s a picture of the Martin we have for auction.
It has a very distinctive, “woody” sound that befits its age and character. Thanks for reading and I hope to see you on Saturday, May 8th. Who knows, maybe this fine guitar will go home with you!
Terry Mangum – Auctioneer
My wife and I got into the auction and estate business for a variety of reasons, but one of the main ones was that we like to collect things. Over time our interests have changed a bit, but the enjoyment of searching for and researching different types of treasures still remains one of the highlights of our spare moments.
One of the fun parts of our job is talking with other collectors. Everyone has their passion and whether someone collects postcards or Victorian furniture or tractor seats, they have their own distinctive stories about the search and discovery of their many treasures. I’ve even heard stories of collectors who liquated their entire collection and then started over – searching for more elusive items!
We hope, at Capitol Auction in Salem, that we can help you find one of your treasures. If you attend our auctions, please be sure to let us know what you’re looking for. As collectors, we know that you can never know when you might come across the next find.
Hope to see you soon,
Terry
If you watch Antiques Roadshow on PBS, then you probably, the second an item is introduced, start guessing what it’s worth. My wife and I play this game to see how close we can come to what the expert appraises the item for at the end of the segment. Patrice seems to think the uglier the item is, the more likely it is to be rare and valuable. I, on the other hand, get sucked in by the stories about how Uncle Frank brought this ceremonial mask back from Timbuktu at the turn of the century after saving the King’s life.
Many times I’m left a bit baffled when the value is given, because it usually comes off as a very vague guess. Saying that Uncle Frank’s treasure is worth between 1200 and 1600 dollars to me is not unlike a car salesman remarking that I can buy that new car for between 20 and 30 thousand. I’d kind of like to know a closer number, although I understand it is hard to pin down at times.
We are always making the rounds of the assorted antique stores and shows in the area and there are some items that we have been looking at for years – and the price has never changed! One would hope the seller would eventually realize that if they want to sell their item, some adjustment is coming to have to be made in terms of price.
Auctions are one of the best ways to determine value. If the auctioneer has done their job right, then they’ve assembled a knowledgeable group of potential bidders and the winning bid will determine what the value was on that given day.
A willing seller and a willing buyer is what it takes to make a deal and determine a price. I’ve talked to many people who will say, “You know, down at the Widget Shop they said my widget was worth $100. So you should get that much for it!”
I always ask back, “Well, did they offer to buy it from you for $100?” Of course, the answer is no. So maybe that widget really wasn’t worth, at least at that time, the price they were quoted.
What’s it worth? It’s worth what someone will pay. Period.
Hope to see you soon,
Terry Mangum – Auctioneer
When you hear the word “Auction” what comes to mind? To many, the term auction brings to mind Ebay. Recently, I asked a vendor of ours if she had ever been to an auction and she responded, “No, but my son and husband love to watch the exotic car auctions on cable tv.” And there is always the iconic image of the distressed farm sales of the Great Depression (or even recent years for that matter).
In reality, live auctions go on daily, in many locations, throughout the country. A quick search at Proxibid.com, which provides live auction services to Auction industry, shows well over 400 auctions scheduled in coming weeks and 3 occurring as I write this, ranging from a rare coin auction in Lawton, Missouri, to a discontinued merchandise auction in Fresno, California to a jewelery, antique and collectible auction in Kappa, Hawaii.
At our new auction house, Capitol Auction – Salem, Oregon, we are always coming across people, both young and old, who have never been to an auction. Most are interested, but many are afraid they may end up buying something they don’t need (well, that’s kind of the idea isn’t it?).
As an auctioneer, I always remind people (and potential customers) that auctions serve many useful purposes. One important element is the auction process allows the seller to almost instantly convert his (or her) goods to cash. Once the auction is set, the seller knows when they will realize money for their goods. Secondly, it often allows buyers to purchase goods at far less than retail. Additionally, let’s not forget that auctions may well have been one of the first “Green” industries, allowing us to recycle and reuse consumer goods without expending natural resources.
And lets not forget another reason people go to auctions is the entertainment factor. Auctions are quite often a lot of fun.
Hope to see you soon,
Terry Mangum – Auctioneer
Salem, Oregon
