by Mr. Mitt » November 7th, 2011, 3:21 pm
Yes, in a perfect world, markets are efficient and items will sell for their true value in an auction setting. In our little glove universe, however, things are far from perfect. There are a lot of factors involved, but most of these factors are controllable by the seller. Accurate and concise description, clear photos, etc. all play large roles. Most importantly, though, is the seller's choice of venue. Completely agree that an item may sell for a lower price one day and then a higher price another day on eBay. You have to remember, though, that despite their growing fees, eBay remains an inexpensive choice when it comes to auctioning an item. If you want your glove to be viewed by a more refined target audience where the auction comes to them instead of the market having to search for it on eBay, then you have to turn to a memorabilia auction house. However, this comes with a price. Sellers have many choices, and ultimately, the final sale price is a direct result of these choices made.
When Brett mentioned it comes down to who has money to spend, that's still a choice of the seller. We know that people are spending less right now. It remains the seller's choice to list in these conditions or hold off until times improve.
One other factor we are dealing with as vintage glove collectors is the illiquidity factor. Cards have become a commodity since grading transformed that segment of the hobby. Everybody knows what a particular card is "worth" in a given grade. With gloves, many times we are dealing with one of a kind items (or at least very few of a kind). Even when there is a supply of a particular glove in the hobby, because they were meant to be used, condition plays a significant roll in price and condition varies drastically (as does collector preference... nice patch, smooth lining, no ink, etc.). Because of this, there are no steadfast values to these items, it's more subjective than most other collectibles. Rob noted that he was willing to pay a premium for that catcher's mitt and ended up getting it for less. Great for him, terrible for the seller. But the seller had a choice to list it as he did. He could have presented it better, chose a different venue to ensure more potential bidders saw it, or even tried a different method of selling instead of an auction. If he had contacted Rob directly, he would have pocketed more money. That's still a choice. The seller chose not to seek out a buyer to deal with directly, for whatever reason. He may have not had the time or energy to spend on hunting someone down. Perhaps he needed to turn the mitt over quickly. Nonetheless, it was still his choice. Then there's the buyer's perspective, in this case, Rob. He believes he bought it at a discount. Perhaps, perhaps not, only time will tell. But when he does decide to sell it, he may choose to alter the selling equation a bit in order to profit from it. Better photos, cleaning it, waiting for the economy to turn in his favor, or perhaps even finding a buyer to sell to directly thus setting his price and eliminating fees. It all comes down to assuming risk and making choices.