Any GUU Auction Surprises?

[commando]

I think I was a bit surprised at the soft prices for the common 1980's baseball jerseys.

I also think $195 for the Mike Goff '69 Seattle Pilots TBTC uniform was money well spent.

[CollectGU]

From a financial standpoint, I was surprised at how low the totals in the auction were as a whole. I think the total was approximately $150,000 in sold merchandise for 6 months worth of time spent putting it together. That translates to approx. $37,000 in gross profit, minus cost associated in putting the auction together, advertising etc puts the net profit lower. Great for buyers not so great for consigners....

Dave

[yankees159]

Dave, the overall number has nothing to do with cosignors. I think GUU had less items than most auctions, probably because they have higher standards regarding items they accept. Personally, I thought they got some good numbers on quite a few items wich is what relates to consinors. Overall for their second auction I was very impressed with the quality of merchandise and think it shows that GUU will be a major player in the future.

By the way, since you said it was so good for buyers, given that you constantly buy to re-sell to try to make a profit, what items did you win in the GUU's auction to re-sell?

Todd

[mvandor]

Dave, the overall number has nothing to do with cosignors. I think GUU had less items than most auctions, probably because they have higher standards regarding items they accept. Personally, I thought they got some good numbers on quite a few items wich is what relates to consinors. Overall for their second auction I was very impressed with the quality of merchandise and think it shows that GUU will be a major player in the future.

By the way, since you said it was so good for buyers, given that you constantly buy to re-sell to try to make a profit, what items did you win in the GUU's auction to re-sell?

Todd
Very good question for the friend of the established auction houses. Dave?

[CollectGU]

I didn't buy anything in the auction. I was the underbider on a few pieces

[karamaxjoe]

I also thought the GUU prices were a little light compared to last time. This was most evident in the commons or non star jerseys. The star stuff did about as good as it should. I believe the economy is going to take a bite out of common collectibles in the foreseeable future.

The one surprising thing I noticed was the Tommy John Angles jersey in the GUU auction only sold for $417 including premium while the exact same jersey from the Grey Flannel auction sold for $1154. I know timing in an auction can drive prices for one item and screw another item, but I thought this was a big difference. Any thoughts?

http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=18123

http://www.gameuseduniverse.com/auction/lot.php?id=642#

Mike

[suave1477]

Karamax I don't think timing played a part in this one.

I just think at the present time Grey Flannel is a lot more well known as far as auctions then GUU and has a tremendous amount of more bidders. So you would expect items to sell more on Grey Flannel they been around longer.

[karamaxjoe]

Hey Suave,
Thanks for your reply and I know where you're coming from, but I dont think I agree on this one.

This site has grown so fast that ANY game used jersey collector should be aware of this auction just as they are about Grey Flannel, Mastro, Lelands, REA or any other major player. You're saying that a percentage of the Grey Flannel or other auction house bidders are overlooking this auction because they just don't know GUU is here? Maybe you're right, but I just don't buy it. If I was the guy who bought the John jersey in the Grey Flannel auction, I'd have to consider myself a fool for not seeing what else is available. I actually think the GUU John is better than the GF John. If that happened to a Mattingly jersey, this forum would be up in arms.

I know I eagerly await auctions to show up on websites and would never miss an opporunity to grab a great White Sox jersey. I'm pretty sure you're no different. I guess money is not an issue for some collectors, but those big differences in prices just don't make sense.

Mike

[josports]

Karamax I don't think timing played a part in this one.


I just think at the present time Grey Flannel is a lot more well known as far as auctions then GUU and has a tremendous amount of more bidders. So you would expect items to sell more on Grey Flannel they been around longer.

While Grey Flannel being around longer is certainly true and one might expect them to have more bidders, I’m not sure the statement that you can always expect items to go for more with them is correct. Here are a couple of examples of where I think GUU Auction did better on comparable items (w/buyer’s premium):

Grey Flannel McFadden: 2,664

http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=17840 (http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=17840)

Game Used Universe McFadden: 4,802

http://www.gameuseduniverse.com/auction/lot.php?id=621 (http://www.gameuseduniverse.com/auction/lot.php?id=621)



Grey Flannel Peterson: 3.691

http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=17942 (http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=17942)


Game Used Universe Peterson: 5,423

http://www.gameuseduniverse.com/auction/lot.php?id=613 (http://www.gameuseduniverse.com/auction/lot.php?id=613)



Although different years, Grey Flannel Clemens jersey: 1,538

http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=18079 (http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=18079)


Game Used Universe Clemens jersey (w/ pants): 5,811

http://www.gameuseduniverse.com/auction/lot.php?id=620 (http://www.gameuseduniverse.com/auction/lot.php?id=620)


I think it there are a number of factors that can affect the prices of individual items.

[suave1477]

Hey Suave,
Thanks for your reply and I know where you're coming from, but I dont think I agree on this one.

This site has grown so fast that ANY game used jersey collector should be aware of this auction just as they are about Grey Flannel, Mastro, Lelands, REA or any other major player. You're saying that a percentage of the Grey Flannel or other auction house bidders are overlooking this auction because they just don't know GUU is here? Maybe you're right, but I just don't buy it. If I was the guy who bought the John jersey in the Grey Flannel auction, I'd have to consider myself a fool for not seeing what else is available. I actually think the GUU John is better than the GF John. If that happened to a Mattingly jersey, this forum would be up in arms.

I know I eagerly await auctions to show up on websites and would never miss an opporunity to grab a great White Sox jersey. I'm pretty sure you're no different. I guess money is not an issue for some collectors, but those big differences in prices just don't make sense.

Mike

Karamax yes this site has grown very fast but that doesnt automatically mean everyone knows about GUU. I still can speak with Collectors in this hobby today, who have been around for years and mention Game Used Universe and they say "Who". So even with the popularity of the site it is not as big as you think it is and esepcially with the Auction part of it is no where near the status of Grey Flannel, REA, AMI, or one of the others.

Here is a perfect example which is a thread I posted a few days ago.

Classic Auctions who has been around for a while. Yet I never heard of them. They are a mainly a Hockey Auction house. Yet they recently had a huge collection of Montreal Expos game used Baseball Jerseys and some really nice pieces of Gary Carter unfortunately I ran into the website a week after auction ended.
That is a place I wouldn't even have considered to look for such items let alone I never even heard of them.
Moral to the Story is items that sold there sold for ten times less in my opinion then what they would have got if it was listed on Grey Flannel.

You cant just assume everyone knows about Game Used Universe or the Auction just because the site has been around for a few years and because the Auction part has been around for a few months.

[suave1477]

While Grey Flannel being around longer is certainly true and one might expect them to have more bidders, I’m not sure the statement that you can always expect items to go for more with them is correct. Here are a couple of examples of where I think GUU Auction did better on comparable items (w/buyer’s premium):

Grey Flannel McFadden: 2,664

http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=17840 (http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=17840)

Game Used Universe McFadden: 4,802

http://www.gameuseduniverse.com/auction/lot.php?id=621 (http://www.gameuseduniverse.com/auction/lot.php?id=621)



Grey Flannel Peterson: 3.691

http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=17942 (http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=17942)


Game Used Universe Peterson: 5,423

http://www.gameuseduniverse.com/auction/lot.php?id=613 (http://www.gameuseduniverse.com/auction/lot.php?id=613)



Although different years, Grey Flannel Clemens jersey: 1,538

http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=18079 (http://www.greyflannelauctions.com/LotDetail3.aspx?lotid=18079)


Game Used Universe Clemens jersey (w/ pants): 5,811

http://www.gameuseduniverse.com/auction/lot.php?id=620 (http://www.gameuseduniverse.com/auction/lot.php?id=620)


I think it there are a number of factors that can affect the prices of individual items.


Josports your picking out specific items. I mean that can happen anywhere thats no secret.

But over all you have a better chance of getting a higher sale if the lot is exposed to more bidders. That's just plain economic business sense.

Example

1) You can have 2 people bidding on the same item at GUU and make the item go from a $100 to a $1000

2) You can also have 20 people bidding on that same item at Grey Flannel and make it go from $100 to $5000

Of course the first 2 at GUU can go crazy and shoot the item up to $10,000

But law of averages is you would have a better shot on gettng more hits when the item has more exposure. Plain and Simple.

[bigtruck260]

I agree with Suave when he says that not ALL collectors are aware of GUU. There have been many times (in the past year) where I have struck up a converstaion with someone spending a grand on jerseys/bats, etc.

...and they have never heard of this site. They do all of their business through local shows and dealers. One specifically was a guy from Buffalo, NY who was buying jerseys at a Cards game. I asked him what his username was and he looked at me like I was a nerd - I rarely get that look considering my size, so I remembered it.

I have only been here for about a year or so...and I've been collecting hardcore for almost 20 years. Some folks just don't care about networking - and that's fine. I am sure that there is a way to market to those folks too.

I would suggest that Chris look into printing flyers/posters for individual hobby stores. I know of a few that would gladly hang a poster for a small fee.

Dave

[karamaxjoe]

Okay..... then here's the question I was hoping to avoid:

Other than a smaller consignor fee, whats the benefit to consigning to a GUU auction?

Mike

[suave1477]

Well for one I think you have a bit more reliability of payment from the bidder.
Peoplee who are bidding on items know the credibility of GUU and take it more serious.

I am sure the larger houses have to deal a lot more with DeadBeat bidders.

Not to mention this is a growning situation.

The question your asking is just like any other business that starts out small. Not every company starts off big.
I think also one advantage GUU has it is Auctioning there items to more dedicated collectors Vs. the other auction houses have fly by night collectors and serious collectors.

[Vintagedeputy]

Re: Any GUU Auction Surprises?

I'm surprised that my catalog hasn't arrived yet..... :)

[bigtruck260]

I think that the fact people are allowed to comment on lots says TONS about the accountability of GUU and the auction.

Many of the larger houses let things slide when things are discovered about them. I think Chris and Mike Specht did a good job of answering the questions I had on items. Anyone who questioned an items was answered in a public forum for ALL to see...it wasn't hearsay. If items were questionable, they were pulled.

In time, this auction will grow - and a more diverse selection of consignments will be there.

Personally, I did not bid on anything because I collect Cardinal bats...and there weren't any.

Dave

[lund6771]

Guys..it obviously takes time to get stuff going...how can anyone realistically be a major player over night...a few years from now the dust should settle and the GUU model should stand tall