Rock Island Auction

bayoned · 11-10-2018, 06:55 PM

It's my observation that low estimates are pretty much the norm for a couple of good reasons.

First, a low estimate attracts potential bidders. "Oh man, the auction house doesn't see what a gem they have, and maybe I can sneak off with this inexpensively".

Second, this way they can attract potential consignees. "See, we routinely garner higher-than -estimates with our auctions, so consign with us and we can maximize the realized price for you too".

For this reason, I pretty much ignore obviously low estimates.

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11-10-2018, 06:55 PM	#2
bayoned User Join Date: Nov 2010 Posts: 14 Thanks: 1 Thanked 9 Times in 5 Posts	It's my observation that low estimates are pretty much the norm for a couple of good reasons. First, a low estimate attracts potential bidders. "Oh man, the auction house doesn't see what a gem they have, and maybe I can sneak off with this inexpensively". Second, this way they can attract potential consignees. "See, we routinely garner higher-than -estimates with our auctions, so consign with us and we can maximize the realized price for you too". For this reason, I pretty much ignore obviously low estimates.