Premiereprops auction 24th March 2012: Thoughts and facts…..

Hmm..interesting to see that Hank Azaria costume from the Birdcage. Originally sold on eBay last few months for under $50 it went for a rather more sensible $300!

Tens of thousands watching this according to the presenter……er no. From the lack of bidders I would highly doubt that.

Although quite a few of the lots failed to make there reserve including the first Michael Jackson hat and the Adams family chair even with the owner of the chair present to talk about the iconic piece.

Unfortuantely during the “Galaxy quest” items something that I have witnessed a number of times during the auctions happened again, this time caught on video. As you can clearly see the lot is bid up from $600 (a French bidder) only to be bid to $900 and then when the auctioneer asks if he can sell it the price is dumped down to the last bid of the $800. It is worth noting the estimate was $1000-1400.

Some auctioneers I have spoken to have said this is the responsibility of the auctioneer to know if they can sell this item at the price they have it at. It would seem Premiere has Dan Levin decide if it can be sold.

I guess the argument is this. If no body knows on this side of the fence what the item can be sold for apart from Mr Levin then he can decide what the item sells for. To the eye of myself and those watching the auction around me it looks like the items are being bid up to as much as the buyer will pay and then once he is done then the price “dropped” to the price the bidder is willing to pay…and of the five of us three have never attended an auction before…and every one of them made the comment that the price just dropped down.

A recent comment from the replica prop forum was also very telling from a gentleman overseas who recently puchased a Gremlin from the last auction run by Premierprops.

Here is his reply a few ago when this was pointed out by another member:

My god… My fears seem to be legitimate: that gremlin sold exactly for my MAXIMUM bid… I thought it was VERY strange, as it was not a round number at all (I live in Belgium and my max bid in dollars was a conversion from Euros)… I was afraid they had artificially raised my bids until reaching my maximum… and apparently, it seems they are really able to do this!!! I couldn’t imagine anyone would have bid just $10 under my completely illogical amount… as normally, the increment was of $500 at that stage… I asked to see the other bids at the time (I was already suspicious), but they said they kept no trace of anything as it was a live auction… seems I may have lost THOUSANDS because of their dishonesty?!

The record of bidding that follows…..doesn’t make a lot of sense. Competing bidder can mean phone, Icollector bids or rooms bids. It can also be an “on the books bids” meaning a bid left earlier by fax, phone or mail. Of course typically if its a room bid you will hear the bidding number spoken by the auctioneer.

Bidder Bid
INTERNET Bidder 250*
INTERNET Bidder 300*
INTERNET Bidder 350*
INTERNET Bidder 400
INTERNET Bidder 450
Competing Bidder 2800
Competing Bidder 2900
Competing Bidder 3000

Here is an interesting quote just added to the Live auctioneers webpage:

LiveAuctioneers’ Secure Bidder Network (SBN) ensures that a person’s absentee bid is kept secure and completely private from the auction company and other bidders until it is executed on auction day.

How it works: The LiveAuctioneers’ system will bid on your behalf against other competing bids up to the maximum bid price you have placed, at no time are other bidders or the auction company made aware of your maximum bid amount.

Of course if the bid is dropped to the previous bid…this can reveal how much someone is willing to bid if a previous bid is entered earlier in the day before the auction….so it seems that the above has been added to there site maybe because it is a concern to some bidders…especially as when the above Gremlins collector approached Premiere about the records of bidding of the auction he was told that information was not kept.

It certainly concerns me as a potential buyer.


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