Auction is big business today. Online auction sites are big markets and it provides a common platform for buyers and sellers. Everything from buying to selling all can be done on online auction sites.
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Online Shopping Just Got Better
A painting by the 19th century American artist Winslow Homer was pulled from an new York auction on 21 May, after a claim was made by one of the artist’s family.
The watercolour, Children under a Palm Tree, was presented to Sotheby’s auction house earlier this year after being discovered on the BBC One show.
It had been rescued from a fly tip in Ireland more than twenty years ago, and was identified by art dealer Philip Mould.
A spokeswoman for Sotheby’s said the auction house had contacted “descendants of the family to whom it had been linked, who advised us they had no claim”.
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Ireland Fly-Tip painting Withdrawn from Auction
Bonhams & Goodman auction of Fine Furniture and Decorative Arts was held in Sydney on 9 May 2009.
The highlight of the sale was an early Colonial Australian cedar long case clock by James Oatley which sold for $336,000, smashing the previous Australian auction record achieved for a clock. This very important and desirable clock had been owned by the Badgery family since it was made by James Oatley in Sydney in 1820. Oatley is Australia’s most important early clock and watchmaker and is most well known for his longcase clocks. The clock was purchased by Martyn Cook Antiques of Sydney.
The Shorter Collection of Doulton was also highly prized with most pieces selling well over their estimates. A rare first edition Royal Doulton Captain Cook commemorative loving cup depicting Captain James Cook landing at Botany Bay sold for $7,680 with a pre-sale estimate of $3,000 – 5,000. The Shorter Family had been closely associated with the Doulton factories since 1892 and are attributed with expanding the market in fine art porcelain and ceramics in Australia.
Oriental pieces also sold very well, including the collection of Chinese snuff bottles from the Estate of the Late James Gleeson - one group of twelve was snapped up for $6,600 against a pre-sale estimate of $1,000 – 1,500. Another great result was achieved for a rare early jade circular disc which sold for $16,800, against a pre-sale estimate of $5,000 – 8,000.
Other highlights include a 19th century Australian rose mahogany and cedar four poster bed which quickly surpassed it’s $6,000 – 8,000 estimate, selling for $20,400. A beautiful Louis XV period kingwood and marble topped serpentine commode, part of a collection of 50 pieces from an important private Melbourne collection, sold at the top of it’s estimate for $60,000.
The sale sold 83.5% by value and achieved a total of $1,185,000 including Buyer’s Premium.
www.bonhamsandgoodman.com.au
Longcase Clock Achieves Auction Record in Sydney
Combining the thrill of an auction, the convenience of the Internet and a unique business model, FantasticBid.com is making a name for itself in the online auction arena.
Unlike other online auctions, at FantasticBid.com an auction’s time limit is determined by the bidders, not by the auctioneer. Each auction continues as long as people are actively bidding on a product. Every new bid resets the remaining time for an auction up to 20 seconds so others have an opportunity to bid. Like a live auction, the person who makes the final bid wins the item.
“Our unique business model allows us to offer products for pennies on the dollar,” says Jenel Murgu, CEO of XM Solutions, the company that founded Fantastic Bid. Products are bought direct from factories at a significant discount. “That allows us to pass along the savings to the customer,” says Murgu.
So how exactly does the auction process work? First, a potential bidder must register at the site. Registration is free and includes five complimentary bids. Members must buy bids in advance; each bid is about 70 cents, and bids are sold in packs via credit card or Paypal.
Once a bidder finds an item to bid on, live bids are placed. With each bid placed, the price of the item increases by 6 cents and that amount is deducted from the member’s bid account. An automated Bid Buddy is available, which places bids if the bidder is away from the computer.
FantasticBid.com offers different auction types:
– Penny (Cent): Each bid placed increases the value or selling price of the auction item by 1 cent.
– Standard Auction: Each bid placed increases the value or selling price of the auction item by 6 cents.
Murgu says that laptops and small electronics are the most popular items. FantasticBid.com is careful to select items that are high in demand, such as iPods. “Everybody wants them,” he says, “whether for themselves or as gifts.”
In June, the site will expand its offerings to include charity auctions. Murgu says talks are under way with two major charities interested in partnering with FantasticBid.com.
FantasticBid.com is also giving back to the community by helping the environment. Every online auction means a tree is planted, because $1 is donated to The Nature Conservancy’s PlantABillion.org. The organization’s focus is to reforest the Atlantic Coastal Brazilian Rainforest.
For more information, visit http://www.FantasticBid.com
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Online Auction Site Bills Itself as - The New Art of Shopping
Cheap does not always mean fake. In fact, you should go through the many passing of hands products actually go through before that will be buffed, priced and displayed in the high end boutiques. With each passing of responsibility to handle the product, the prices are raised and it will be left to you, the buyer, to absorb all the costs that are generally placed under the umbrella label of ‘production costs’. But it will really help if you can understand the step by step process your favorite leather bag undergoes before you bought it and how a bulk wholesaler can be a better option.
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Shopping is Better With Bulk Wholesalers
