The Talking Machine Forum — For All Antique Phonographs & Recordings

When things go for other wise crazy prices at auctions it is sometimes due to relatives who are intent on owning it. Like an old pump organ I saw at a farm sale near me that wouldn't bring a couple hundred in a shop that went up to nearly 2,000. It turned out the sons were bidding against each other as to who would own their mothers pump organ.

Larry

Definitely in the right section of the forum, IMHO

I agree. The intent was to show how a common machine would escalate with an excessive bidding war. Bidders with more money than brains.
Harvey Kravitz

Chilesave wrote:Definitely in the right section of the forum, IMHO

I was in Las Vegas walking thru the Venetian and there was a Edison home B in one of the shops not in the best of shape. They wanted $2500 for it. I was shocked. I told him he could buy them on E bay a lot cheaper for resale as I had brought one at $275. He did not get the hint and snubbed me off. I guess people will ask what they think people will pay. People think if it is old and they should get a lot of money for rare old items. They forget about the law of supply and demand. In some ways I hope he sells it for that but I do not like seeing people ripped off also. Tom B

We mustn't forget the old adage; "Beauty is in the eye of the beholder."

In this instance, not my eye, but I've been plenty guilty of overpaying for something "I just had to have [it]."

Best,
Fran

whenever I've contacted a seller to correct him on his asking price, I've never got a response of "Oh, OK, I'll reduce that price immediately". They usually take much offense at some stranger trying to tell them their business. So, it's probably better to let them find out over time by it not selling. If the seller is motivated to sell, the price will come down eventually. If the seller is not very motivated to move the item, the price may remain high for months, or even years.

It brought what the market would bear and the market at that time was $1600. If you can buy one for a few hundred then that would be a good buying opportunity. I marvel at so many collectors who obsess over prices. It's not about collecting and enjoying the hobby as much as getting the best deals they can get and then bragging about it to everyone!

edisonclassm wrote:It brought what the market would bear and the market at that time was $1600.

Sorry, but I must politely disagree. This is not what the market would bear, it was apparently what 2 very hungry people could financially fight over. The broader "market", as noted here, says this is a $200-$300 machine.

I would bet a cylinder record that you would have a differing opinion if you were on the receiving end of that $1600!

edisonclassm wrote:I would bet a cylinder record that you would have a differing opinion if you were on the receiving end of that $1600!

Possibly, but as a knowledgeable collector, I still wouldn't go out and overpay for similar machines hoping I got very, very lucky again...

Pricing of any antiques follows a bell curve. There will always be a few sales on the extreme high and extreme low ends of the scale, but the sales that occur between 2 knowledgeable people will usually be within a fairly predictable range. This range is what most people mean when they talk about "the market". Can auction results like this change "the market"? Of course, but they can also just be anomalies, and that is how I would personally treat this one.