Tuesday, November 11, 2008
Short Note on Auction Results
One quick clarification on our Auction Results posts. We tend to get our summary statistics on auctions out rather quickly, often just a day or two after the sale has ended. It is always the case that there are lots that are picked up by buyers after the sale is over, usually at or below the reserve, and these sales are fed back into the auction house's results page sporadically for a week or two. These sales raise the total proceeds and lower the buy-in rate incrementally, even though they didn't actually sell in the live auction. So if you see summary results from an auction house (or other source) two or three weeks after the sale, and they look "better" that what we reported, it is likely a result not of our mistakes (we like to think we are pretty diligent with the numbers) but of these after sales getting added in.