Tag Archives: online auction

Small Traditions Celebrates One Year of Monthly Masterpieces Plus Auctions

August 26, 2013

3This month marks the one-year anniversary of Small Traditions’ Monthly Masterpieces Plus internet auctions, and the company couldn’t be more pleased with the engaging and unique mix of cards it is currently offering in its Monthly Masterpieces Plus #12 Auction, which accurately represents the direction in which its team is working hard to grow Small Traditions. The company made a splash last year when it established itself as one of the leading auction firms within the hobby to offer a significant selection of high quality modern cards outside of eBay, but over the ensuing months the company began offering a larger and larger selection of vintage cards, autographs, and other memorabilia, clearly evident in this month’s auction, which culminates this Saturday night, 8/31 at 11:11 PM EST at www.smalltraditions.com.

2According to Small Traditions founder, Dave Thorn, “One of my hardest tasks each month is to organize our auction in a way that engages our wide ranging user base, highlighting our masterpieces while still giving appropriate attention to all our consignors’ items. The harder an auction is to organize usually means the better the auction is, overall, and that was definitely the case this month.”

4Indeed, browsing the company’s auction in gallery format shows a compelling mix of cards quite unlike anything else you’ll find within the hobby. In typical Small Traditions fashion, the current auction begins with a handful of some of the most sought after Derek Jeter Rookie Cards in existence, including PSA 10 Gem Mint examples of the famous 1996 Mirror Blue and Mirror Red cards from The Captain’s ROY season of 1996, which were limited to just 45 and 90 copies produced, respectively, followed by a PSA 10 Gem Mint example of Derek’s 1996 Leaf Signature Autograph Rookie Card.  The auction then briefly turns to some high-grade vintage non-sport rarities from the 1965 Topps Battle and 1966 Batman sets before presenting some exceptionally high-grade, low pop masterpieces from late 1960s Topps baseball, including Pop 1 PSA 10 Gem Mint examples of Don Drysdale from the 1969 set, Big D’s last regular Topps card, as well as that season’s AL ROY, Lou Piniella, plus others. Up next are a handful of scarce modern rookie cards, including a seldom seen 1982 Fleer Cal Ripken Test Rookie Card, a pair of Michael Jordan Rookie Cards, a pair of rare Bo Jackson Auburn Greats Rookie Cards, and then some of the hobby’s rarest Ken Griffey Jr. and Frank Thomas Rookie Cards.

6After another round of exceptionally low pop Derek Jeter rookie card proofs and parallels, which include a PSA 10 Gem Mint example of Jeter’s 1993 Classic Best Autograph, the Captain’s only signed card from his traditional rookie card year of 1993, the auction then turns back the clock to offer presentable upper grade examples from early Bowman and Leaf sets, with high-grade copies of Jackie Robinson, Roy Campanella, Warren Spahn, Ted Williams, Mickey Mantle, and more. After a 1958 Topps complete set, the auction then takes an interesting turn to the frozen pond with one of the hobby’s highest grade cards from the 1953-54 Parkhurst set followed by a unique selection of Rick Nash Rookie Cards and Game-Used Autographs.

5The auction then takes yet another turn back to Derek Jeter, with an alluring selection of late 1990s inserts, which are then followed by a lengthy list of early 50s Topps and Bowman cards from the likes of Mickey Mantle, Whitey Ford, and Yogi Berra, before the presentation of a partial 1954 Topps high-grade set break, offered in single lots. More vintage card offerings follow, with many Mickey Mantle cards and other stars, before returning to a lengthy run of modern baseball cards, with many desirable high-grade rookie cards and refractors. Up next is a compelling mix of vintage and modern football cards, and then the auction returns to baseball with a healthy offering of presentable mid-grade examples from the popular 1954 Bowman, 1953 Topps, and 1952 Topps sets, before closing out with a colorful selection of print art and another round of high-grade vintage non-sport cards.

1An alternative to eBay and to other high-priced auction services, Small Traditions conducts monthly internet auctions with $1 starting bids, no reserves, and free shipping on single graded card lots, whether you win one or 101 of them. Small Traditions also offers a 0% sellers fee for consignors plus free grading with PSA and BGS on cards valued over $100, and it is the only auction company in the hobby to offer both free selling and free grading services. Call 303.832.1975 or write info@smalltraditions.com to learn more and to see if your cards qualify. Currently, the company is aggressively seeking rare vintage and modern single graded card consignments for its September 28 and October (Nov. 2) auctions.

EXPLAIN IT TO ME: The 15 Minute Rule

A throwback to the earliest days of online auctions, the much maligned 15 Minute Rule is an automated method for ending an auction. It is the reason so many auctions last into the wee hours of the morning, and it is also the reason why some of the most coveted items in a given auction sometimes sell for multiple times their estimated values. At its simplest, the rule stipulates that the auction will not close until 15 minutes have passed with no bids being placed on any item within the entire auction. At that point, we assume, all bids are in, everyone has had a fair chance to bid, and so the proverbial gavel hits the sound block, the auction ends, and we all go to bed. I’ve been in the auction business for almost a decade now, and I’ve participated in hundreds if not thousands of auctions both as a buyer and as a consignor (or seller) and also as an auctioneer. On more than a few occasions, I’ve been kept awake until 4:00 AM to guarantee my winning bids. Other times I’ve set my alarm for 2:00 AM to enter my final bids, and still other times I’ve slept through an auction closing and completely missed my opportunity to bid. Today is the final day of Small Traditions Monthly Auction #6, and many of my customers have asked me to explain the 15 Minute Rule, so here’s an explanation of how the Small Traditions 15 Minute Rule works as well as a brief discussion of its pros and cons.

At Small Traditions, we’ve adopted the simplest version of the 15 Minute Rule. Our Monthly Auctions close on the final Thursday of every month at precisely 11:11 PM EST, at which time they enter into Extended Bidding. At that point, the 15 Minute Rule goes into effect, and each time a bid is placed within the auction, a new 15-minute timer begins to clock down to zero, and the auction will not close until a full fifteen minutes has passed with no bids being placed within the auction. IMPORTANT: All active Small Traditions bidders in good standing are permitted to bid on ANY item within the auction during the Extended Bidding period.

Of course, the primary reason we do this is simple: to generate more bids and to maximize prices for the lots within our auctions. For this reason, our consignors tend to love the 15 Minute Rule, while our bidders tend to hate it. The inevitable result of the rule is that most auctions last until 2:00 AM, 3:00 AM, or even 4:00 AM. But 4:00 AM where? 4:00 AM in New York is just 1:00 AM in Los Angeles, and while that’s still pretty late for a Thursday night, it’s just 10:00 PM in Hawaii and just 6:00 PM in Japan and Taiwan, where we have more than a few registered bidders. And so another primary reason we use the 15 Minute Rule is to give ALL bidders (east coast, west coast, far east cost) a fair chance to bid on the final night of our auctions.

The obvious complaint against the 15 Minute Rule is that it keeps bidders up too late, and several companies have developed alternatives to the rule to placate their bidders. Some auction houses apply the fifteen minute rule to multiple sessions within a single auction, while other houses apply the rule on a lot-by-lot basis, meaning that each lot closes individually after 15 minutes pass with no bidding activity. To the angst of consignors, a third alternative is to abandon the 15 Minute Rule and simply close the auction at an appointed time, but where’s the fun in that? In all sincerity, some of my fondest memories in this business have come on auction night, when bidding wars ensue and consignors realize record prices for items they were reluctant to sell, and when bargain-hunting bidders score incredible deals about which they brag to their friends the next day on chat forums across the internet.

A final note and a few suggestions regarding the 15 Minute Rule. Like all auction houses, Small Traditions reserves the right to use our discretion and to end our auctions at any time, especially when bids have slowed to a snail’s pace and the sky is paling. If you prefer not to stay awake until mid-morning, then consider setting your alarm for midnight, 1:00 AM, or 2:00 AM in order to check your status. The average ending time of our first have dozen auctions has been about 2:00 AM MST (Mountain Standard Time; we are in Denver). Alternatively, you can decide upon a price you are willing to pay for an item and use the Max Bid feature, available on all lots, or you can always call Small Traditions at 303.832.1975 and request a telephone bid up to a specific price before the auction ends. After all, more so than on other nights, on auction night, we work overtime.

Thanks for supporting Small Traditions, and good luck!

Dave Thorn