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Joined: May 2003
Posts: 2,139 Likes: 48
Veteran Member
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Veteran Member
Joined: May 2003
Posts: 2,139 Likes: 48 |
One thing is for certain, auctions are probably not the best place to find smoking hot deals.
On the flip side...I'm encouraged that if/when I decide to get rid of my collection an auction is probably the way to go.
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Please - NO offers to Buy or Sell in this forum category
Statements such as, "I'm thinking about selling this." are considered an offer to sell.
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Joined: May 2010
Posts: 884
Petro Enthusiast
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Petro Enthusiast
Joined: May 2010
Posts: 884 |
You should defenitly be going back in a few weeks...with a van full to consign to them!
Mainly focused on Oilzum, Jenney, Harris Oil items & original paint gas pumps.
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Joined: May 2005
Posts: 4,643 Likes: 42
Veteran Member
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Veteran Member
Joined: May 2005
Posts: 4,643 Likes: 42 |
Sounds like your frozen hub cap woulda paid for your sign & trip expenses,had you put it in the auction.
Collecting Vintage Sunoco
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Joined: Jan 2013
Posts: 3,423 Likes: 19
Veteran Member
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Veteran Member
Joined: Jan 2013
Posts: 3,423 Likes: 19 |
these crazy prices at auction are why everyone and their brother are now holding a 'antique advertising' auction.
it seemed just a couple years ago, you would see some decent auctions here & there... but nothing like it has been the past 6-8 months. seems there is an auction with 400 signs or more every other weekend. the signs at auction bring more than they would on ebay or as a retail sale... so everyone is taking advantage of that.
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Joined: May 2008
Posts: 2,777 Likes: 1
Veteran Member
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OP
Veteran Member
Joined: May 2008
Posts: 2,777 Likes: 1 |
I tried cashing in on a bunch of stuff at a New Year day auction. On most things I at least got my money back, lost on many things. Over all it was fine. Got rid if it. Only one surprise for the good. A small Delco medal cabinet went for 170. I would have been happy at 50. Made up for some of the loses. I do not have good luck when I sell at auction for some reason.
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Joined: May 2012
Posts: 140
Petro Enthusiast
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Petro Enthusiast
Joined: May 2012
Posts: 140 |
Is it true that when you sell at auction, a 1099 will be generated...so the income will be reported to the IRS and thereby be subjected to taxation?
That's a serious consideration and would make a big difference in net results of most any collection being sold.
Maybe it depends on the auction house?
Don't you think something like Ron Pratte's was reported?
Or maybe you don't worry about if you feel lucky and take the chance of being overlooked for an audit? Not so sure I'd feel comfortable with that.
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Joined: May 2005
Posts: 1,559 Likes: 43
Veteran Member
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Veteran Member
Joined: May 2005
Posts: 1,559 Likes: 43 |
consigned to many auctions in the past with several auctioneers no 1099 has ever been generated for me
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Joined: Oct 2004
Posts: 2,050 Likes: 4
Veteran Member
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Veteran Member
Joined: Oct 2004
Posts: 2,050 Likes: 4 |
Was there a buyers premium at this auction, how much? A lot of people fuss about the bidders premium, aka the juice, but the better companies keep the junk/ fakes out of their auctions. Some added insurance against you buying junk but it does come with a price..
US Air Force Retired, 1981-2007
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Joined: Jan 2005
Posts: 2,702
Veteran Member
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Veteran Member
Joined: Jan 2005
Posts: 2,702 |
A few years ago there was no fake aviation sign out there, so I could see some one getting nailed on that one. It looked like a decent 72" Texaco Banjo went for $900.00 and a Sky Chief went for $250.00 so Texaco wasn't bad.
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