Lang's the place to sell?

[glenfish]

I have a Meek 44 I have owned for years. Thinking of giving it to Lang's for the November auction. Does anyone here use them to sell? Any issues?
Thanks for any feedback.
Glen

[Mike N]

That's a really good question. To my knowledge there are two current auction houses that focus primarily on fishing tackle: Lang's (note correct spelling) and Crossroads Angling Auction. Both are run by well-known people in the fishing collectibles field. Lang's has been around for over 20 years and has a long client list of tackle buyers. Crossroads is newer, I believe. Both seem to advertise their auctions well.

I have sold several items through Lang's over the years, and got solid results. I have not sold anything through Crossroads yet. I googled both websites and could not quickly find their current seller's premiums, but I seem to recall they were in the 20-25% range. These fees may be negotiable for high-end items, but I'm not sure.

Because it affects the bidding, one must also consider that there is a buyer's premium added to the purchase price of 18% (reduced to 15% if payment is by cash or check and not credit card.)

I believe eBay charges a 10% sellers fee, with a cap at $250. The question is whether the marketing by the two auction houses and their contact lists make their higher seller's premium worth it.

It would be interesting to see a study of similar tackle items sold over the past 3-5 years at Lang's, Crossroads and on eBay to see which venue fetched the highest NET amounts for the seller.

I hope some other collectors can amplify on the above since I think it is time to have this discussion.

[Wayne B.]

My wife has Lang's info if the situation requires her to dispose of my treasures because I respect them and know they do a good job. She also has ORCA info to get advice if the need ever arises.

If I had one very collectible item that I wanted to sell and had the option of time and choice, I would list it on ORCA, Joe's, ebay, etc. You can always set up your listings so you have choice in accepting an offer.

[john elder]

Being slightly biased, i would recommend that you research current values and offer it here on our sale board first. No fees and you can always go the auction route if it doesn't sell to your Buds. This way also offers the possibility of trades or partial trades if you have particular things you would like besides cash!

I am not well-versed in the variables for the 44, but i recall there are some big differences that impact value greatly. What are the particulars for yours, Glen? Would love to see some pics!

[Roger Schulz]

I too have given my wife instructions to call Lang's if something every happens to me and she wants to sell my collection. I have known Jim Schottenham for over 15 years and have known John and Debbie Ganung for a long time. They are folks that I know and respect. i believe their email listing goes to over 30,000 collectors. Lang's has always been a big supporter of ORCA. Years ago they donated the funds to print our membership application. They are also doing it again with a new printing this year. Via Jim they have been very active in helping host our conventions at Lake George.

When I am ready to sell the good stuff in my collection (hopefully when I am over 80 years old - I am 68) ), I would consider it an honor have a auction house like Lang's to sell it.

Roger Schulz

[RandyAnderson]

I think John has given some sage advice. Meek 44's are highly sought after reels, that being said there have been enough of them change hands to establish a fair market value. You could consult with several fly reel collectors that are members of ORCA and establish the price you would like to realize. Offer the reel on this board and if it doesn't sell then consign it to an auction house. One thing that hasn't been brought up, there are always some bargains at an auction. If you establish the price and sell it your self, you don't have to worry about someone getting a bargain at your expense. Sell it your self and you don't have to worry about uncle sam wanting his share either.

Just another view, good luck with what ever you deceide.
Randy Anderson

[glenfish]

Thanks for the input. I have been talking to Jim at Lang's about the Meek as well as some other reels I have found over the years.
Thanks for your help!
Glen

[reelsmith.]

FYI...

Crossroads seller commission is only 15%, which is pretty much unheard of in the industry.

Dean.

[Mike N]

It's nice to see so many comments on what is a integral part of our hobby-- selling reels in our collection on occasion.

I agree that Lang's many reputable years in the tackle industry and as an ORCA suppporter make it a solid choice for loved ones in an estate setting. I'm also happy to read Dean's note that an auction competitor has lowered its seller's commission to 15%. Competition is always a good thing for consumers.

As far as offering a high-end reel for sale first on this website, there is a some risk that if it doesn't sell the reel loses the "fresh to the market" cache. Prospective buyers of the high-end items like a Meek 44 are usually a very small and particular bunch and I suspect shopping a reel unsuccessfully before consigning it to auction might affect its value in the short term.

[wrong99]

It's also fair to note that, on top of the 10% final value fee, eBay also charges 10% on the shipping fee (which is b.s.) as well as a listing fee (which can be as high as several dollars, depending on how visible you'd like your listing to be). Then there's the roughly 4% cut for PayPal. So, after all the smoke clears, it's about the same as Crossroads. And you would have the absolute joy of having to deal with the public yourself.
Mark

[Gary Carbaugh]

One other thing to consider. Lang's is an online auction only and Crossroads is both online and a live auction where you can physically see and handle the items.

[Mike N]

"It would be interesting to see a study of similar tackle items sold over the past 3-5 years at Lang's, Crossroads and on eBay to see which venue fetched the highest NET amounts for the seller."

I corresponded today with a very knowledgable person concerning whether such a study was possible. They told me that comparing the condition of items sold at one auction house versus another versus eBay is very difficult. Also, a comparison is difficult due to concerns that one auction house may provide a "prices realized" list (of dollar amounts of items that were actually purchased), while others publish a "bids realized" list, which could include unsold items that did not meet their reserve. Similarly, a list of "past auction results" may only reflect where the bidding stopped, not whether an item sold.

I would guess that these same issues arise in the classic auto auction industry when deciding whether to sell your car at Gooding & Co. vs. Mecum vs. Barrett-Jackson vs RM Auctions, etc. I'm betting that someone, somewhere has figured out a computer model that tells a seller which of those auction houses is best to use when selling a 1966 Corvette vs. a 1956 Ferrari GT vs. a 1932 Rolls-Royce Phantom vs a 1972 Plymouth Roadrunner. Every auction house has its niche.

[Paul M]

Looking at Meek 44 reels sold on liveauctioneers.com, I count 1 sold by Crossroads and about 13 sold by Lang's. Lang's had the highest and lowest bid results but the reels auctioned had different desireability.

Like offering it via ORCA for an asking price, EB offers the ability to have a reserve price or "buy it now/ make an offer". I don't know what the auction house policies are on starting bids at a minimum you can live with. If you wanted at least $5K but only got $2,500 that is a risk to consider.

I also like Mullock's in the UK via the-saleroom.com but likely wouldn't get the same interest for this reel as at a US auction location and there are other costs/complications using an offshore service.

[countreenut]

Well I went back to my Meek list and have records of 16 Meek 44 reels. Have prices on 14 of them as to what they sold for. Sold from $2750.00 - $15340.00 with a average of $6141.14 per reel. Don't think this will help you on what you wanted to know but might give you a idea what they have sold for in the past. Jerry

[john elder]

LOL....as I said, there ARE Variables!

[Midway Tommy D]

Sold from $2750.00 - $15340.00

Wouldn't it be nice if the gentleman that paid $15,340.00 wanted to have a pair?

Seems like Lang's is the go-to place for the high dollar items, but they all have their positives in the market.

Tom

[Churchill]

Interesting conversation; and I admit to having a dog in the race.

Has anyone considered using the vintageflytackle.com consignment option?
The auction houses' effective cut tends to be 30-40% of selling price from both sides of the deal [sellers and buyers fees] - VFT's fees amount to approximately half that.
All the 'live' auctions end with the fall of the hammer.
VFT offers a more versatile and open way of conducting the deal. The selling price is agreed up-front; the item is shop windowed on the web site with professional quality photos and honest assessment - and a 3 day inspection period. Several sales become 'negotiations' involving all parties.
Most serious collectors around the world pop into the VFT site for a look; and it always appears front page in most search options.
Nothing to lose and a lot to gain.
Just saying
Brian [UK end of VFT]