Our long awaited auction 50 ended last week and I have to say it ended with quite a bang. It was the final lot that stopped our hearts for a moment and showered us in an auspicious feeling of wonderment. A Favorite Bitters was the subject of a fierce battle with two collecting combatants delivering blow after blow. When the dust settled it hammered down at $58,000, with the juice, a hair off of $65,000.
But that was not all. In the waning minutes a Bryant’s Bitters, one that had been found not too long ago and was repaired by Marty Hall sold for a bit over $40,000, another nice sale. We also managed almost $9,000 for a beautiful Lovegood’s Bitters, another $15,680 for a very rare and intact W&B Shasta soda, $9500 for a Washington/Bridgeton amber pint flask and some fine prices for a number of rare and beautiful pieces; all in all we were a satisfied group. The bidders seemed happy, consignors, too. I awoke the next day to a large article in our local paper, The Sacramento Bee, announcing the presence of the largest bottle auction house in the country, American Bottle Auctions. True or not, it was icing on the cake.
But auctions are a scary thing. Ask any auctioneer. You’re only as good as your last sale. We sold a Lediard’s Celebrated Bitters for around $1,500 this time around, the last one went for over $5,000. We couldn’t give pickle jars away. We’ve had good luck with them in the past but this was an outright disaster. Inks? About the same as the aforementioned pickles. Green pontiled umbrella inkwells that used to sell in the $1,000 range could barely break $400. Some non-bottle items, which included some U.S. eagle-related pieces we thought would be of interest slowly meandered their way to a few hundred bucks apiece. Surely a sign that bottle collectors want to buy bottles, not bottle-related items. At least in our auctions. When you have pieces you feel should do much more and they don’t, what do you do? The real answer is nothing. If you’re already given your best effort to describe, photograph and promote the auction, you’ve done all you can, some things just don’t sell for what we might think they should.
There were a few problems with the auction, some our fault, some the result of consignors or bidders. First off, we screwed up the minimum bids on a few pieces. When I do the catalog with Chi Chi, my office manager and force de elegance, I dictate the description along with the grade and of course the minimum bids and estimate. In a few cases my spoken estimate of three to six became interpreted as hundreds, not thousands; my failure to communicate the accurate price. The streaming videos were adequate; it seems no matter how long I do the videos it’s a whole new learning process every time. It shouldn’t be that hard, hold the bottle still, show the front, back, top and base and move on. We’ll work on it. Other problems began before the auction even started. I had done a couple hundred videos and realized I used the wrong setting on the camera. I quickly realized I had to redo all of them. Then I found I was yet again using the wrong camera, another camera I have delivered a much more viewable result. So I re-shot all of those. By the end I probably did a thousand videos. More than my wandering voice could absorb. I know now what I did wrong but preparation is the key to success and after having to reshoot a couple hundred extra still pictures because of a minor camera adjustment I’m resolute in doing the next one perfect from start to finish. Damn it, why do we have to keep learning things we already know?
We also had some problems with the computer server. It worked great through the entire auction but the day after the auction we were having trouble negotiating the site. We had sent out invoices but alas, they didn’t all go out and not knowing who didn’t receive theirs forced us to re-send them all. Something we didn’t want to do because we knew we’d receive a flurry of emails from people did get theirs and in fact had already paid. We did and things turned out fine, a few emails from people who had indeed received theirs but even better emails from bidders who’d won but didn’t know it yet.
Some of the problems created by us were surpassed by others, consignors, bidders, people who maybe don’t understand the auction format or just need help. We had one consignor who decided that he wasn’t getting the bids he wanted on two whiskeys he had put in the auction. We had agreed to a reserve price on one and when that wasn’t working he took it upon himself to bump up his own items, the Cassin’s Whiskey and Bird Cutter to be more specific. In our minds it’s not up to a consignor to bump anything. When you consign an item, if you have a reserve price in mind, it’s something you talk to us about. We really don’t like reserves but in some circumstances there’s no reason something can’t be worked out. This was simply a situation in which the consignor felt he wasn’t getting enough and he took it upon himself to create his own value. What’s wrong with that? Well first off, it leaves people thinking that the items sold for way more than they did. Secondly it can alter the landscape of a particular area of collecting. If someone out there has a Cassin’s Golden Plantation Whiskey, what do you think they are going to think it’s worth now? We need to let people know when something like this happens which is why I’m punching these little plastic knobs which in turn puts letters on the page thereby letting people know what happened. In accordance with our consignors agreement we charged the individual a 12% buyer’s fee and he faithfully paid it. No questions asked just paid it and went on his merry way.
Also, another area that drive auctioneer’s nuts are consignors who tell you that with one day in the auction to go, they have a reserve on the item. Most unsettling. We say in the Consignor’s Agreement that we aren’t too crazy about reserves but that we accept reserves, that is a minimum amount the consignor will take, if they are reasonable. . We also point out that if a consignor wants a reserve, it has to be reasonable and voiced in advance. A day before the end of the auction is not in advance and the only thing they can do is buy their own bottle back, which we also don’t allow. But we can’t know if they have a friend who’s bidding or they register under a different name. So it’s important for us to know if someone has a specific price in mind and there’s no problem.
Another thing that happened is a little irritating and happens to all auctioneers. A bidder will bid on a number of items which in turn affects the way the items are selling and then out of the blue says he can’t afford to pay so he says to pull all his existing bids. This time, at least they did it in the middle of the auction instead of the end. So, there weren’t really any repercussions, we took his bids out and the computer takes care of the rest. A bidder might wonder why his $500 left bid, which was trounced on earlier in the week is now the new top bid but no real harm done. Speaking of left bids…
A lot of bidders are very leery of left bids. They are reluctant to leave a top bid which is the highest they will go on an item leaving the bidding essentially up to the auction house. That is very understandable. With all the stories we’ve heard about auctioneers raising bids arbitrarily based on a left bid, it’s no wonder people are afraid to put their bidding in the auctioneer’s hands. We feel that left bids are in a way, a customer’s way of saying they trust us. It’s heartwarming when someone trusts you with his or her hard-earned money. We had 128 left bids totaling over $120,000 that were not used. That’s not all bidding money, in other words only a portion of that is “raise” money, in this case almost $20,000. But for the 128 bids, it speaks volumes to us about the fact that people can leave a bid, sometimes a much larger bid then the current bid, and feel safe in the idea that it will only be used if someone bids them up. No, it’s true, it’s the first sign an auctioneer is becoming successful. Well, it’s either the first or last sign because if you’re just starting out and you abuse a bidders left bid prepare for the worst. If there’s one thing I know about this community, this bottle collecting community, it’s that nothing goes unnoticed. If you think it’s a secret it won’t be for very long. People talk and before you know it, it’s all over the place and there’s nowhere to hide. Auctioneer’s need to realize that without bidders and consignors and people who sell you items, you’re dead in the water. Treat them the way you would want to be treated yourself and you’ll do fine.
Well, that’s about it. I just wanted to get a few things off my chest. We would like to do more auctions a year but it seems to be coming down to a few. We have also sold target balls in a couple special auctions this year, we’ve got one coming up but to get the ammunition you need to conduct a worthwhile auction even three times a year takes a lot of effort. It also takes luck. Most of all it takes a great customer base and consignors who believe you’ll get the most money for them. We have a niche right off the bat in that we’re the only full-fledged bottle auction house in the entire west. There are others who sell bottles and do a darn good job but as far as a single oriented business that specializes in doing one thing, we’re pretty much it. Thank you for reading, I hope to see you in Ohio at the National Show this year. Good luck and may you stay healthy and happy.















