Primarily Petroliana Shop Talk Forums Shop Talk Petroliana Forums Petroliana News The Peotone Auction

THE PEOTONE AUCTION

Friday March 6, 2015 @ the Will County Fairgrounds, Peotone, Il
4:00pm Collectors Social & Dinner
6:00pm Auction Time

Auction by Jonathan Kraft & Kraft Auctions
http://www.auctionzip.com/IN-Auctioneers/6988.html
Auction Managed By Eric Thielke & Cataloged Auctions Etc.
http://www.auctionzip.com/IN-Auctioneers/104440.html
Eric Thielke 765-918-2083
Jonathan Kraft 219-973-9240

Online bidding through proxibid.com & Auction Zip Live
10% Buyers Premium Onsite. 18% Internet Buyers Premium.


To clear confusion. Yes, there are two Auctions coinciding with the gas show in Peotone, Il. I guess we would be the unofficial auction. We are at the same location(Will County Fairgrounds) that Matthews Auctions always held their auction events at. The doors will open for preview at Noon, and we are providing a dinner and collectors social starting at 4:00pm, with the auction to follow @ 6:00pm.

Please contact us to consign your items to this auction event.

We are also planning to have a fall THE PEOTONE AUCTION.

Regards,
Eric

You can also follow us on facebook
https://www.facebook.com/thepeotoneauction

More

more

So now there's 3 auctions at the spring Peotone show?

http://www.oldgas.com/forum/ubbthreads.php?ubb=showflat&Number=585175#Post585175

No, there are two. Ours and the one on your link.

Now why would another auction company schedule another gas & oil auction on the same day and in the same area as one that was previously announced?
I don't see ANY benefit to either auction company, or the collectors either? Do you expect the other auction to be over by 6pm and all of those buyers to hurry and make it over to the other venue, or do you just feel that there are enough buyers to satisfy both auctions?
Seems kind of like shooting yourself in the foot to hurt someone else????

I feel that there are enough buyers to satisfy both auctions.

Rory announced at the fall sale that he would have a sale in the spring. Rory's sale is the one that's officially affiliated with the show.
The guys holding this sale got the rights to the Peotone venue. Originally both auctions were scheduled to start at noon. This auction was moved back to 6:00 P.M. I think this is the same outfit that held a "non-affiliated" auction with the Indy Ad Show.
IndyGas6 posted some enlightening comments about his views on shill bidding on another topic. I was looking forward to attending both auctions but after reading his comments about shill bidding (and those that object to it) I won't be attending the evening sale.

Ok confusing as it is, when I look at the 2 auctions that Eric posted at the beginning of this thread they are just 2 companies for the same auction.

And Rory's is at a different location at noon.....LMAO

IMO this is **** crazy!!! Lets just have 2 shows to go along with it.

Well, if I was a consigner to the first auction, I would be mad as h**l that you have pulled this little trick and jumped in where you felt there was money to be made! This is an act of pure greed and doesn't even qualify as a business decision! If I was a consigner at your sale, I would truly be concerned about your decision making ability!
There is absolutely no possible way that this will benefit the collectibles community! The only beneficiaries will be those buyers lucky enough to have no competition on an item that can be resold for a substantial profit! But wait a minute----you've already stated that shill bidding is pretty much the same as a reserve???? I guess there really won't be any deals at all there any way, will there! Probably just a lot of NOSALE items that have to pay the commission anyway.
HHhhhmmmmm?????----yep--just greed.

OK, I am going to be candid and hopefully clarify how there are two Petro Auctions at Peotone on March 6th, 2015.

-It all started about a week before the Dixie Gas show in the fall of 2014, Morphy's announced they were not doing an auction at the fall Peotone gas show.

-Thursday of the Dixie Gas Show I had a number of conversations with collectors and dealers about what a bummer that there would be no auction at Peotone. That night, after hearing about it all day, I contacted the previous auctioneer of the auction at Peotone and said "hey, what do you think about me doing an auction at peotone in the spring? I would do one this fall, but I don't think I can get enough good stuff in a month and a half" To which he replied "great, I have the building still".

-Friday of the Dixie Gas Show I was talking with my good friend Dave Thompson and he said that he and Rory Brinkman had dinner the night before and were planning on a fall auction at Peotone. I just kinda stared blankly and said that's cool.

I did a lot of pondering on my way back to Indiana later that day and decided to still plan on the spring show.

-About one week later I talked to my friend Jonathan Kraft and mentioned my plan on doing Peotone. He seemed curious.

-Three weeks following the Dixie Gas Show, I once again contacted the auctioneer who previously did the auction @ Peotone and asked how I go about getting the building in my name, and he said he would call the Will Co Fairgrounds and I would have to fill out the information. This turned into a month and a half long process and the Fall Peotone show came and went.

We are not trying to divide a hobby or create competition, but as an up and coming auction company, we seized the opportunity presented. And I do apologize for any toes some may perceive we stepped on, but we are having the auction.

The way I see it you all have choices:

1)Stay home or do something else that weekend.
2)Don't attend either auction and just go to the Peotone Gas Show
3)Go to one of the auctions held that day and skip the other. Then go to the Gas Show the next two days.
4)Go to both auctions and go to the Gas Show the next two days.(this is the option we think all would have the most fun at).

Also here is how it those three days will go:
Friday 3/6 @ noon-Brinkman Auction
Friday 3/6 @ 6pm @ Will Co Fairgrounds-Kraft/Cataloged Auct. Etc. Auction
Saturday-Show Set Up
Sunday-Show.

If you have any further concerns or questions, please call me Eric Thielke 765-918-2083

I also find it funny that Last year Rory jumped in at the last minute to put together an auction for the spring show when Matthews/Morphy pulled out and now he has competition to put on an auction. Why and how doe's this happen? Oh yea "Greed"

I don't know about anyone else but Rory will be the only one seeing my $$$$.

I am really not sure what the big deal is here. I have always maintained that if I am on the road anyway, the more things I can pack into a trip the better for me. I plan on being at Rory's sale at noon and Eric's sale at 6 pm on Friday. (And I might add that they are both good guys)

Then I will be at dealer setup for the Peotone show on Saturday and then I will spend Sunday vending as the general public comes through. (Which I might add the Spring show brings a huge crowd through on Sunday)

Anyone see any problem with scenario?

Just my 2 cents!

Lonnie Hop

Couldn't have said it better myself. The more there is to do the better.

while i agree with Lonnie & John... i do see the potential for the consigner to get the bad end of the deal. the more auctions, more items, & more confusion that exists, the less attention there is to a person's consigned items.

but that didnt stop me from consigning a couple things to the Brinkman auction... and I look forward to the entire Peotone experience none-the-less.

You guys are too funny.

Last week the auction items were selling for too much money and the average guy couldn't play along.

This week there are too many auctions and consigners won't make enough money.

I understand the auctions WERE at the same time. I see they are now separate times which is good.
When Morphy said they were not doing an auction there... it left an opening. Rory stepped up and decided to do one or 3 i guess. Columbus, peotone and now peotone again. I see a ***** match on the auction of everyone wants a piece of the action.
I don't care if you have 6 auctions. I bet the consignors will not like it. It does let you decide which auction you want to go to in case you don't like the auctioneer ethics.
I won't be at either. LOL

Even if there's a Red Bird globe at one of them?

Maybe someone will have a petro auction Saturday morning too.

I copy this from a different tropic.

For all who think they know auction law, the UCC says that shilling bidding is illegal. Second all auction are with reserve unless the auction is advertised as "ABSOLUTE".

That is why Matthews Auctions used the this word in most of our advertising.

So if you go to either Peotone auctions this year and they dont use the term "absolute" in their advertising then you may be bidding against the owner of the item and it is legal.

Shilling bidding is when the auctioneer puts someone in the auction to bid on items in the auction, this is not the owner of the item.

Bob... Then I would bid. LOL I haven't even looked at the auctions.

Are either or both auctions "Absolute"?
If they are not Absolute, is there any way of knowing what the items reserve is?
Thanks Dan for the lesson on the actual laws.
Like Lonnie said, the way I see it, if you are on the road anyways, the more chances to buy the better. From what I have seen, both auctions have some nice stuff listed. I will bet not everyone will protest the second auction and let the stuff sell at bottom $$ price. Barrett Jacksons last auction had petro stuff bring very strong crazy money. Auman and Matthews and now Morphy also have/ had a good following and their stuff commanded good money also. New auction companies or companies people are not familiar with may not pull top money for items because of a lack of a good auction company reputation. This can be a good thing for the buyers, not so good for the sellers. Two auctions in one day would probably be tiring to sit through but I will bet there will be people there to bid at the second auction when the Sinclair aircraft sign sells. Iowa Gas used to have a two day auction, cans the first night, signs the second day. This always worked well from what I have seen. I also remember a three day auction a few years ago when a guy sold his collection. I myself thought that was a bad idea but it was his stuff to sell any way he wanted. Two auctions the same day in the same area may divide up the buyers and lower prices. Or it just may bring in more people and result in higher prices? At the end of the day, everyone will have their own opinion but it will be about impossible to say that the item I consigned at auction A would have brought more money if auction B didnt happen on the same day. Time will tell after the hammer falls if the auctions are rated as a good auction or one where things went cheap..

In both the Peotone and Columbus auctions, Rory was asked by the show promoter to put the auction together. Certainy their opinions should be considered in all this. Without each show, there would be no auction and it is a huge undertaking to put on a show.

hopefully neither of these two auctions, has this in their fine print:

PLEASE READ: At the request of the auction company, this auction permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf. While Proxibid's Unified User Agreement prohibits this behavior, in accordance with UCC 2-328, this auction is permitted to engage in this activity by providing this clear disclosure to you, the bidder.
PLEASE READ: This auction company has requested and been granted access to see all bids placed including any maximum pre-bids. This auction is permitted to engage in this activity by providing this clear disclosure to you, the bidder.

Lonnie said it best. my gosh I can't believe some of you guys.

Lonnie nailed it as usual

Amen on that....

New pics for The Peotone Auction @ 6:00pm at the Will County Fairgrounds on March 6, 2015. **REMEMBER** Collectors Social Starts @ 4:00pm at the same location.

Bid via Proxibid here: https://www.proxibid.com/asp/AuctionsByCompany.asp?ahid=8572

Bid via AuctionzipLive here: http://www.auctionzip.com/IN-Auctioneers/6988.html

This is going to be the best Peotone weekend in memory, two auctions, great show, see you there.

more pics

Will either of the auctioneers step up with an absolute auction statement?