The money has been collected, the items boxed up and shipped and now the numbers have been crunched. Robert Edward Auctions’ $9.56 million event closed last month with a batch of record prices set.
Over 23,000 bids were placed by representatives of some of the nation’s most prestigious museums, universities, and corporate institutional collections, as well as representatives from numerous Major League teams.
The auction is often a barometer of the health of the market and if the bidding was any indication, collecting isn’t in a slump. In fact, quite the opposite.
“All areas of the auction received a tremendous response and very strong prices,” said REA President Rob Lifson. “Nineteenth-century baseball items were unbelievable, as always, as were all early baseball cards, advertising and display pieces, graded cards, Babe Ruth items, autographs, memorabilia, non-sport cards and artwork.”
The average lot sold for $5,861 and on average realized more than double the high-end estimate and more than 99.5% of the lots sold, all good news for consignors, all of whom got paid in full. There were no non-paying bidders.
You can get an in-depth look at the largest single event auction in the hobby on the REA Blog.