sammyboy999
New Member
Posts โข 7
Likes โข 0
October 2007
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Ebay prices Vs Auction Prices, by sammyboy999 on Jun 21, 2008 16:59:45 GMT 1, This might sound naive, but can someone please explain the huge discrepancy in prices between Ebay prices and those realised at auction houses.
With reference to Sepia Morons, why would anyone pay over 7k for at the most recent auction when it can be picked up for less than half that on ebay?
I understand the risk of picking up a fake or of being ripped off on ebay. Is this the only explanation?
This might sound naive, but can someone please explain the huge discrepancy in prices between Ebay prices and those realised at auction houses.
With reference to Sepia Morons, why would anyone pay over 7k for at the most recent auction when it can be picked up for less than half that on ebay?
I understand the risk of picking up a fake or of being ripped off on ebay. Is this the only explanation?
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spirit
Junior Member
Posts โข 2,956
Likes โข 516
August 2007
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Ebay prices Vs Auction Prices, by spirit on Jun 21, 2008 17:07:15 GMT 1, The kudos, satisfaction and excitement of buying at an auction house is also a factor along with the fact that some people are comfortable at an auction house but wouldn't go near ebay full stop.
but I don't understand why someone would pay over 7k for sepia morons either...
The kudos, satisfaction and excitement of buying at an auction house is also a factor along with the fact that some people are comfortable at an auction house but wouldn't go near ebay full stop.
but I don't understand why someone would pay over 7k for sepia morons either...
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Ebay prices Vs Auction Prices, by skitch on Jun 21, 2008 17:24:14 GMT 1, men like to show off infront of their girlfriends
men like to show off infront of their girlfriends
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Deleted
Posts โข 0
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January 1970
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Ebay prices Vs Auction Prices, by Deleted on Jun 21, 2008 17:27:10 GMT 1, alot of people in auctions like bonhams and so on tend to have more cash to spend, also a lot of those that get sold go to art dealers or people who would not of generally bought Urban Art had it not been for Banksy's high earning prices.
alot of people in auctions like bonhams and so on tend to have more cash to spend, also a lot of those that get sold go to art dealers or people who would not of generally bought Urban Art had it not been for Banksy's high earning prices.
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Ebay prices Vs Auction Prices, by westway101er on Jun 21, 2008 18:22:08 GMT 1, It depends on which auctioneers I suppose, but in general there is an element who buy from auctions that don't bother with ebay. Therefore they haven't a clue what the secondary market rate really is. These are the sort of people who usually buy directly from a gallery and will pay premium rates for their art. As such, they don't have too much of a problem when paying top dollar at an auction.
It depends on which auctioneers I suppose, but in general there is an element who buy from auctions that don't bother with ebay. Therefore they haven't a clue what the secondary market rate really is. These are the sort of people who usually buy directly from a gallery and will pay premium rates for their art. As such, they don't have too much of a problem when paying top dollar at an auction.
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bmjt
New Member
Posts โข 908
Likes โข 7
April 2008
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Ebay prices Vs Auction Prices, by bmjt on Jun 21, 2008 18:59:15 GMT 1, I love the fact that the print in question is Morons, a print mocking the price and prestige of street art; more specifically the actions of an auction house selling it, and it's being auctioned for huge amounts. Perfect, the man's a genius.
I love the fact that the print in question is Morons, a print mocking the price and prestige of street art; more specifically the actions of an auction house selling it, and it's being auctioned for huge amounts. Perfect, the man's a genius.
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jam
Junior Member
Posts โข 1,629
Likes โข 31
November 2006
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Ebay prices Vs Auction Prices, by jam on Jun 21, 2008 20:23:25 GMT 1, This might sound naive, but can someone please explain the huge discrepancy in prices between Ebay prices and those realised at auction houses. With reference to Sepia Morons, why would anyone pay over 7k for at the most recent auction when it can be picked up for less than half that on ebay? I understand the risk of picking up a fake or of being ripped off on ebay. Is this the only explanation?
A few things on the ebay vs auction house discrepancies.
-First, there are many people that have never used ebay to purchase anything, nor would they consider it. There is an equally large art collector group that would never dream of sending thousands to someone they cannot do a face to face exchange with (or at least see the piece in person before purchasing).
-Secondly, ebay is not an accurate reflection of 'market value'... it's the bottom rung in pricing. More often than not, people who sell on ebay are willing to take a lesser than fair market price to sell their prints. This can be for numerous reasons, such as a need for quick cash regardless of actual value, desire of anonynimity for the sale (hidden print numbers and fear of being branded a flipper by POW), or a lack of knowledge on selling through reputable auction houses (or not wanting to pay the associated fees). Seller feedback is often never sited when pointing out lowest prices, nor is their geographic location... both also play major roles in final bid values. I would imagine most bidders factor in paying less for things on ebay if buying site unseen, because there is always a possibility of undisclosed damage to the print, lack of credible provenance, counterfeit prints, or even the buyer taking your cash and never sending the print. At best, ebay can be used as a bottom of the line price estimate in comparison to standard auction houses, private sales, and gallery pricing... and even then, it's not entirely reliable.
Related to the 'Sepia Morons' sale at auction, I feel that image is much more relevant when taken in the context of an art auction house. I think too many people discount it's importance as a Banksy print because they are immersed in the Banksy market and know it as an LA print and a recent run, and therefore value it less than someone who wouldn't have that background. There seems to be a propensity to value later prints less than the earlier ones, regardless of the image quality, just for the fact they came sooner or later in Banksy's body of work. A large part of this is because the latest prints are more subject to be flipped, and therefore there are more on the ebay resale market to drive supply up in that setting... but collectors in higher circles are not buying from ebay so that isn't as important to them as the image. These collectors are more interested in the quality of pieces, rather than when they were released.
This might sound naive, but can someone please explain the huge discrepancy in prices between Ebay prices and those realised at auction houses. With reference to Sepia Morons, why would anyone pay over 7k for at the most recent auction when it can be picked up for less than half that on ebay? I understand the risk of picking up a fake or of being ripped off on ebay. Is this the only explanation? A few things on the ebay vs auction house discrepancies. -First, there are many people that have never used ebay to purchase anything, nor would they consider it. There is an equally large art collector group that would never dream of sending thousands to someone they cannot do a face to face exchange with (or at least see the piece in person before purchasing). -Secondly, ebay is not an accurate reflection of 'market value'... it's the bottom rung in pricing. More often than not, people who sell on ebay are willing to take a lesser than fair market price to sell their prints. This can be for numerous reasons, such as a need for quick cash regardless of actual value, desire of anonynimity for the sale (hidden print numbers and fear of being branded a flipper by POW), or a lack of knowledge on selling through reputable auction houses (or not wanting to pay the associated fees). Seller feedback is often never sited when pointing out lowest prices, nor is their geographic location... both also play major roles in final bid values. I would imagine most bidders factor in paying less for things on ebay if buying site unseen, because there is always a possibility of undisclosed damage to the print, lack of credible provenance, counterfeit prints, or even the buyer taking your cash and never sending the print. At best, ebay can be used as a bottom of the line price estimate in comparison to standard auction houses, private sales, and gallery pricing... and even then, it's not entirely reliable. Related to the 'Sepia Morons' sale at auction, I feel that image is much more relevant when taken in the context of an art auction house. I think too many people discount it's importance as a Banksy print because they are immersed in the Banksy market and know it as an LA print and a recent run, and therefore value it less than someone who wouldn't have that background. There seems to be a propensity to value later prints less than the earlier ones, regardless of the image quality, just for the fact they came sooner or later in Banksy's body of work. A large part of this is because the latest prints are more subject to be flipped, and therefore there are more on the ebay resale market to drive supply up in that setting... but collectors in higher circles are not buying from ebay so that isn't as important to them as the image. These collectors are more interested in the quality of pieces, rather than when they were released. |
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