Selling your vintage concert posters through public auction is often a great way to turn your posters into cash, but it does come with its own set of risks.Use our auctions to turn your vintage concert posters into cash!
First, let's examine both the positive and negative aspects of selling your vintage concert posters through auction. Next, we'll show you how to get your vintage concert posters in front of scores of hungry bidders.
Make no mistake about it; there are pros and cons to going the auction route when it comes time to sell your vintage concert posters.
The main negatives of auction sales are as follows:
Auction sales take substantial time to plan, conduct, and collect the funds from winning bidders. Typically, you will consign your material to a sale 45 days before the auction is conducted. Our auctions usually run for seven days. You receive your proceeds 21 days after the auction closes. This means that on average you should expect to receive your funds 7 - 8 weeks after you have consigned your material to the auction. This delay is a huge negative compared to receiving immediate payment through a private sale.
Auction sales, by definition, require you to relinquish control over how much you receive for your posters. As the old saying goes, you have to be willing to take risks to get rewards. We have hundreds of success stories where collectors receive more than they expected for their material at auction. There have also been collectors that didn't receive the results they expected. There are many reasons this is a reality, a reality that is often shielded from view by auction companies hungry for consignments.
In any given auction, your material may not be as good as other competing lots, the stock market could dropped, or some other news event could temper bidder's enthusiasm. If you have a firm number in mind of what you MUST get for your poster(s), then an auction is probably not right for you.
Auctions involve fees that can bring the total amount realized below expectations. Let's say that you believe the market value of your poster is $1,000. The poster comes up for auction, and the final bid price is $1,000.00. After you deduct a 10% seller's fee, you receive $900.00, failing to meet your expectations after waiting several weeks.
Inexperienced collectors will often counter this argument by requesting that their material be sold with reserves. While you can pursue a reserve in an auction, it is often counterproductive. The reason for this is simple:
Collectors enter an auction excited with the possibility that they may be able to snap up a bargain. Once bidding commences, these same bargain hunters often catch "auction fever" and bid more than current market prices in an attempt to win the object of their desire. This is referred to as a "bidding war."
Selling your poster with a reserve price tells collectors there will be no bargain here, and your poster most likely won't even be a bidding consideration. This is the exact opposite situation of what you are hoping the auction creates.
Despite these negatives, auctions can be a highly rewarding way to sell your vintage concert posters for top dollar! If you don't know precisely what your posters are worth, there is no better way to find out than letting "the market decide." If you have unique material that is rarely seen, then auctions can provide a competitive environment filled with hungry bidders. These bidders will pay top-dollar for the right to be the next owner of your rarities. In every auction, some lots bring far more than anticipated, and if you are the lucky consigner these lots could be yours!
The bottom line is that consigning your vintage concert posters to auction is a highly viable way to sell, as long as you enter the arena ready for both the risks and rewards.
Psychedelic Art Exchange has a large, international clientele that enjoys and enthusiastically participates in the auctions we conduct each month. We stand ready to analyze each poster in your collection individually and can provide a detailed plan to maximize the amount of money you receive for your collection in the most expeditious way possible.
No matter what you decide, public auction or private sale, you can be confident that your vintage concert poster collection will be handled in the most professional way possible, using all of the expertise we have attained through a combined 75 years of professional dealing in the collectibles industry.
If you're ready to sell your vintage concert posters or have a question, please contact us now! We'll help you get the absolute highest prices possible.