Primarily Petroliana Shop Talk Forums Shop Talk Petroliana Forums Petroliana News Prices came back down @ Millers 2nd auction

Looks like there were some good buys to be had at Millers auction today.

http://www.auctionzip.com/aflive.html?me...1&orderby=1

did anyone attend?

i went mike and bought several pieces for a friend, couple pieces for me. some things went crazy money.

Ya, it looked like somethings did go light

I think it was timing more than anything? His first sale was before Peotone and at the middle of February when weather is starting to moderate. Its also after a long winter and most collectors are hungry for a new piece or two.
Throw in some other factors like cheap fuel and a decent economy, and you have a recipe for success.
Follow it up with another sale about a month later, and you have lost some of that enthusiasm amongst collectors in the immediate area. You will still have internet buyers that are searching for certain pieces and are willing to pay up for them, but they aren't enough to drive all prices up to the roof.
That's my thoughts on what happened. Just had the next sale too soon.

Well put Kevin.

Also there is just way too much going on at once. It seems there are major petroleum auctions in the midwest every weekend on Saturday & Sunday now. I know of at least 3 that were the same weekend as Miller's... and I know I ended up not bidding in any of them because it was just too much to try and keep track of.

Is it just me or is there 5x more auctions than there was 2-3 years ago?

I agree, back here in Ontario Canada, Shackelton's are having them every month.. half of it is repro stuff, getting very boring to go,, hard to find a real killer piece anymore,, maybe I've been around to long

Well put Kevin at that was my feeling about having another auction so fast after his other...and with other shows coming up!

Like Wes mentioned-- If there is an auction every month in your area with this kind of inventory, would you be all excited to go every month? The new wears off real fast when you get it shoved at you like has been happening this spring!
The 2 auctions at Peotone were a good case in point. By the time the first auction was over, I wasn't really interested in attending another one, but I went anyway, simply because I had nothing else to do, but I didn't buy anything. I had already spent enough at the first auction and really didn't need another "FIX".
Theres an old saying that's really appropriate for collector auctions---"Always leave them wanting more"! In other words, if you overload the buyers, both the enthusiasm and the prices will go down.

The HUSKY SERVICE sign really did you in. LOL

You guys are WAY too spoiled..lol. I wish we had 1 auction locally to go to a year around these parts. To get a decent auction in these parts with any real quantity of advertising stuff a collector has to die and the estate is auctioned off! Sad but true...

To me it's all about supply and demand,, there has been away too much stuff selling, people have got on the kick that everything brings huge money at an auction,, I do believe prices will come down if it keeps up... I spoke with the auctioneer with Shackeltons and they say what can they do , people come with stuff to auction off and if they don't do it some else will.. but in most auctions, most of it is NOT for me anymore,, lots of guys I think are buying the stuff just for decorating there "Man Caves",, LOL,,, that's why repro stuff brings away to much money for what it's worth.. but a couple of hundred bucks isn't what it used to be either...