Richmond Auction today: .. ...
Yes, makes no sense at all.
Rats I didn't get that OIlzum sign!
I would've guessed from the photo Ed posted in the "great old pics" thread yesterday that the Oilzum signs would've been cardboard or paper, as it was one I was not familiar with. Neat to see the one sold today and that they were tin tackers. Regardless of what they were made of they are a cool looking sign!
Darin
All it takes is alot of money
Signs have gotten ridiculously expensive.
I find it interesting that an 8"x12" Texaco Marine White sign sold for $5,500 at the Richmond Auction yesterday, and a similar sign sold at the Iowa auction for $1,300 six weeks ago.
https://bid.richmondauctions.com/lo...soline-small-size-porcelain-sign-tac-975https://www.proxibid.com/Art-Antiqu...Wheel-small-Sign/lotInformation/62238525
All depends on who's watching. People that have alot of money that go to mecum Barrett jackson they dont really care what it's worth if they want it they get it. Have seen it over and over.
Even the online Facebook auction/groups seem to suffer from this now. People throw ridiculous money at signs no matter where they turn up for sale.
It makes me smile actually...a rising tide lifts all boats.
Yes, you can focus on some of the signs that went crazy, but there were plenty of deals to be had. When you have 380 items, things will fall through. Two buyers in particular realized this and bought the 30-40 items that were real steals. It's the ups and downs of a no reserve auction. I'm partners in Richmond Auctions and we get the money we do for a few reasons:
1) It's no reserve. No auction house buying stuff back and hiding it after. Everything sells.
2) We get every piece that TAC authenticates, authenticated. People know what they're buying is real.
3) Our logistics capability is one of the best in the business. It's 1 week after the auction and we've already personally delivered 1/3 of the auction, 1/2 will be done in the next 10 days and the balance within 2.5-3 weeks. Almost all of it done by our staff.
4) We market differently. We're bringing new collectors into the market.
There are still PLENTY of deals in the sign market, but they're going to be in a lower condition than what they used to be. The highest quality and the rare stuff has now reached investment status.