Goldin Auctions rant

[clocsta2323]

Goldin is a huckster/carnival barker. If you base anything off their hammer prices you are in serious, serious trouble.

[larryhughes]

Is just part of the game, Goldin actually protect buyer from shill bid, for seller you have to take the risk to pay commission to Goldin if you win the auction.

[tennelson55]

Originally Posted by ninjacookies

Vorth off the top rope.

[mcgee2134]

There's nothing I can do about it now and I should've known better. I just wanted to vent and relay my experiences.

Originally Posted by ninjacookies

But damn. The fact you kept coming back. That Stockholm Syndrome hit different.

Touche`

Originally Posted by gomiamigo

1) Aren't there reserve prices?

They told me they don’t do reserves anymore.

Originally Posted by vorthian

Hi Chris,
Steve Lucas from Goldin here, happy to discuss this offline or continue on here. Let's take a look at Example 3; Card 2:
BGS 9.5 - December 2021: $26,400 = PWCC
BGS 9.5 - February 2022: $13,200 = PWCC
BGS 9 - April 2021 = $15,600 = GA
BGS 9 - Feb 2022 = $6,600 = PWCC
You asked about the valuation for that card in November 2021! November 22nd to be exact. The market was much, much stronger for that card as referenced above.

For context, my card was a PSA 10 Doncic pulsar prizm (/35) and the examples above are BGS.
So Steve, if the market was much, much stronger a few months ago, why did a PSA 10 Doncic Tiger stripe just sell for double the sales price of BGS 9.5 a few month ago?
Same card, different parallel but mine halves in price whereas the tiger stripe almost doubles in price?

[NeedChapmans]

Right again!

[mc1]

Originally Posted by mcgee2134

For context, my card was a PSA 10 Doncic pulsar prizm (/35) and the examples above are BGS.
So Steve, if the market was much, much stronger a few months ago, why did a PSA 10 Doncic Tiger stripe just sell for double the sales price of BGS 9.5 a few month ago?
Same card, different parallel but mine halves in price whereas the tiger stripe almost doubles in price?

Purple Pulsar, right?

A PSA 10 sold for nearly 26k in January by Goldin but it was the 01/35. Perhaps that helped increase the final price.

[Greenbeak]

Sounds like they didn’t give you appraisals, they gave you comps based on recent sales at the time, and several months later a similar card sold for less. Welcome to trading cards 2022. And yes, despite how well you may think he has been playing, Luka has gone from a red hot rocket in 2020 and early 2021 to one of many people that are being bought and sold in 2022 and all of his cards, from the low end to the highest of high end have gone DOWN since NBA season started. People find new hot prospects and up and comers to buy.
I suggest you download card ladder and look this stuff up yourself instead of asking auction houses for comps

[r338]

Did Carlos give you one of those increasing terms contracts?

[Clyde725]

Originally Posted by vorthian

You asked about the valuation for that card in November 2021! November 22nd to be exact. The market was much, much stronger for that card as referenced above.

Here's one of the issues with using Goldin. With the market as dynamic as it has been recently and what appears to be a downturn for the foreseeable future, a few months could kill the market on a card by 50% or more.

So, why did it take from November 22 to April 9 to get sold? Could be that the Seller didn't send it in for awhile. But, I also know that sometimes it can take Goldin a month or two for a card to get listed and sold. And, you can't take it down once it's listed.

Now, the value could have gone up in that time period from when the card is sent in to when it's sold (at least in theory). I just think if you're going to list at Goldin and relying on recent comps, you're taking a serious risk that the market could be way different when the card is actually sold.

[montej1695]

Sorry to sound ignorant but regardless of what valuation the AH provides to a potential seller, it still comes down to the buyers that are interested in the card.

They could have stated the card was worth 6K and it sold for 12K...

If the idea is that the OP was more willing to sell based on these valuations and was unhappy when they sold at much lower scales, than i understand that as well.

[vorthian]

Re: Clyde725:

The consignor requested that those items be placed in the April Auction which is why they were held until that auction. We could have ran them much sooner.

To summarize: consignor asked about comps in November, contract signed in February and items not placed for auction until April or June.

[Greenbeak]

Did the OP get paid for all his past sales? It’s my understanding that eBay is having relistings as high as 30% on sports cards, meaning a lot of fake bidding going on elsewhere. If buyer got paid each time it shows goldin is actually collecting from a much higher percentage than elsewhere and their sales numbers would be the most reliable comps. Again, as stated instead of asking an auction house for comps download card ladder, they have all the data there.

[mc1]

Originally Posted by vorthian

Re: Clyde725:

The consignor requested that those items be placed in the April Auction which is why they were held until that auction. We could have ran them much sooner.

To summarize: consignor asked about comps in November, contract signed in February and items not placed for auction until April or June.

A PSA 10 sold nearly 26k in January by Goldin. That sale probably encouraged the seller to consign.

Hard to believe his card sold for about half of that. Hey, stuff happens, maybe Luka cards really have cooled off since the start of the year.

[Nomad]

Originally Posted by mc1

Purple Pulsar, right?

A PSA 10 sold for nearly 26k in January by Goldin but it was the 01/35. Perhaps that helped increase the final price.

At least that answers the question about whether serial numbers add value. Unless...

And Tiger Strip sounds infinitely more sexy than Purple Pulsar, sorry. Kind of like the Genesis effect.

[Clyde725]

Originally Posted by vorthian

Re: Clyde725:

The consignor requested that those items be placed in the April Auction which is why they were held until that auction. We could have ran them much sooner.

To summarize: consignor asked about comps in November, contract signed in February and items not placed for auction until April or June.

Okay. Appreciate the clarification.

[mc1]

Originally Posted by Nomad

At least that answers the question about whether serial numbers add value. Unless...

And Tiger Strip sounds infinitely more sexy than Purple Pulsar, sorry. Kind of like the Genesis effect.

A 100% premium for 01 serial? Doesnt compute.

[SleepyWill]

Goldin's business is to obtain desirable consignments that will bring a two fold business approach. That the item is easily market-able, and that it's going to sell for a number that's beneficial to all parties involved.

I would say that the OP got hooked in, frankly after the first go round I wouldn't bother unless I was in dire need of the money.

[exospheer]

Here is the issue I have seen with Goldin. If your card is not one of the top cards being sold, it has a big chance of being lost in the shuffle.

[tjforce]

Originally Posted by exospheer

Here is the issue I have seen with Goldin. If your card is not one of the top cards being sold, it has a big chance of being lost in the shuffle.

Precisely. I still think they have the most powerful reach selling the items they want to put their marketing machine behind. But I've seen a lot of items hidden in some 4 digit lot number and not do very well (and still get the 20% commission).

[mcgee2134]

Originally Posted by Greenbeak

Sounds like they didn’t give you appraisals, they gave you comps based on recent sales at the time, and several months later a similar card sold for less. Welcome to trading cards 2022. And yes, despite how well you may think he has been playing, Luka has gone from a red hot rocket in 2020 and early 2021 to one of many people that are being bought and sold in 2022 and all of his cards, from the low end to the highest of high end have gone DOWN since NBA season started. People find new hot prospects and up and comers to buy.
I suggest you download card ladder and look this stuff up yourself instead of asking auction houses for comps

Only one card in all the auctions had comps (Luka Prizm), the rest were all appraisals by Goldin. Card ladder is useless in these examples, these were all very low serial numbered cards which is why I asked for their appraisal.

[pejc300]

Originally Posted by mcgee2134

Only one card in all the auctions had comps (Luka Prizm), the rest were all appraisals by Goldin. Card ladder is useless in these examples, these were all very low serial numbered cards which is why I asked for their appraisal.

give us the list of cards you sold so we can better assess your situation.

[Onepocketj]

Originally Posted by mcgee2134

Only one card in all the auctions had comps (Luka Prizm), the rest were all appraisals by Goldin. Card ladder is useless in these examples, these were all very low serial numbered cards which is why I asked for their appraisal.

So you're upset that their appraisal wasn't accurate on cards with no comps?
Makes sense...

[pokemaniac]

Forgive my ignorance, but what obligation does Goldin, or any auction house, have to the seller beyond placing the item for sale during the agreed upon time?

[Archangel1775]

Sounds like a Ja Morant or LaMelo. In basketball, if it's not a Prizm Silver, Gold, NT RPA or Flawless RPA, you are left with a handful of people bidding on those cards.IOT, demand lessens as the price goes higher. You need two bidders to make it go higher and that wasn't the case this time around. Another is timing, if the Grizzlies and Ja play lights out and make a championship run, prices can go higher.

If I'm wrong about the sport and player, then it sounds like hockey, the same applies with McDavid and Matthews.

[ninjacookies]

Tread lightly, my friend.

I've witnessed grown clecters mysteriously vanish over much less.