Cottees Auction of coin operated machines

[treefrog]

Excellent , I assume you can view when you open on the day…

[moonriver]

Hi Cottees

Can you confirm any reserves are at least at the lowest estimate or below? Many thanks.

have I missed the response?

[treefrog]

Ha ha, yes, to be fair I was not expecting a response, but without kicking Cottees too much, I can only but applaud for them for the fact they are supporting a collectors sale with sensible % rates. Long may this last and also that they are open to listening to feedback

You are not not going to please everyone, eg location of auctions, opening days etc……but first on-site slotty sale for a while……think I may have a long drive ahead

Trouble is I was pondering coming to your place up north the next day for the collectors meet, although….

On the topic of reserves and estimates, very recently a slot machine at a local auction sale sold for double its high end estimate. It was listed again in their next sale. I asked a few questions as missed the first listing, but also asked why it was back in auction. They told me it never reached reserve ………as such makes you wonder

[pennymachines]

As a rule, reserves are agreed between vendor and auctioneer and are confidential. Generally, I believe, the reserve will not be more than 10% above the lower guide price in these types of auctions. Sometimes it's lower, or there is no reserve and a low bid can be accepted at the auctioneer's discretion.

[treefrog]

Not sure where you got that, from my experience it is either at the lower estimate or one bid below……..it is false representation to suggest estimates way below the reserve. As there are no fix price for antiques, you should not falsely give an impression you can get something you will never win

[moonriver]

You're very welcome to come up and visit for the collectors meeting Tom!
Nearby Premier Inn is cheap at the moment for the Sunday night, and let me know if you would like to come with us on our post collectors meeting meal at Vintage Inn.

My tongue in cheek assessment of Cottees auction location being, it's typically at the other end of the Country from me!

[pennymachines]

Not sure where you got that...

I don't know either. Talking rubbish again. Maybe thinking of property auctions where:

For a single figure guide price, the reserve cannot be more than 10% above the guide

I should have said, the reserve is likely to be within 10% of the lower estimate. The lower estimate tends to reflect the reserve and (unless there's a firm reserve) the auctioneer has discretion to let the item go for 10% below it. The important point, as you say Tom, is that the reserve should never be higher than the low estimate.

Reserve or Reserve Price

Never formally disclosed, the reserve price is the confidential minimum price agreed upon between the consignor and the auction house. Reserves must be set at or below the low estimate, and if bidding ends before the reserve is reached, the property will not be sold.

Items with Reserve prices will, if necessary, be sold with a 10% discretion.

Reserves:

Where an estimate is given we will offer the lot with ‘Auctioneers Discretion’ on the lower estimate unless otherwise agreed. ‘Auctioneers Discretion’ allows the auctioneer to sell the lot for up to 10% less than the lower estimate. The reserve cannot be higher than the lower estimate.

Can't help observing that some of the recycled Spicers machines risk significant losses based upon the estimates.

[jingle]

I attend kempton antique fair Tuesday and drove down to Poole ftom there it was a 2 hour drive. I walked in the auction and knowones asked me who I was or what I was doing ,the machines and signs were scattered everywhere by a door open and knowone about. I didn’t trust it these are other peoples expensive items please be aware
I had 10 machines in the van to put in. But I got back in the van as and drove a 4 1/2 hour trek home. I thought if they don’t sell it’s a long way to go to pick up too
So am out. I’ll wait for a middle of the country sale be
Fair for everyone then

[treefrog]

Funny, I went to collect a machine from a large auction house out West a few months ago, brand new large warehouse and I could find no one, was totally open and all the sold lots were open to the car park ……..eventually I patiently got someone’s attention from another area, but could have filled the van. I believe your lots are covered by auctioneer before sale and once paid for after auction, down to buyer to cover insurance usually…

On the lots listed today and maybe an error, but the most expensive BMR Embassy Stainless Steel cigarette vendor has been listed with an estimate from £2200 to £4200…….I wouldn’t buy one for £100

[jimmycowman]

You can not knock this auction for the massive effort for a live auction. Its the only way to sell. I wish them all the best

[jingle]

I wish them all the best Jimmy
But what use is it if you lose machines
they need to tighten up security
And it’s connected to a builders yard with open doors
Vans flying everywhere nah I’ll give it a mis

[ab88]

Or (and this is a revolutionary idea), why not just advertise them at reasonable prices and see what happens?

Seems to me everyone wants top dollar, central location, minimal commission. It ain't gonna happen.

I am actively looking to buy some machines at reasonable money and there is nothing in Cottees that I fancy the drive for, though couriers are cheap enough. Commission is something I'll pay but I'll factor it in to the hammer price so actually - why don't a few of you just advertise them? Worst case you keep them for that mythical auction down the line

[moonriver]

I wish them all the best Jimmy
But what use is it if you lose machines
they need to tighten up security
And it’s connected to a builders yard with open doors
Vans flying everywhere nah I’ll give it a mis

Like anything else that it is reasonable to expect a 'duty of care' when you leave something valuable with them, auctions should take note.
For those that think it's a minor thing, they wouldn't be saying that if all their machines got nicked.

[jingle]

I have had a good phone call off cottees auction
And they have guaranteed that all items
Entered in to the auction are 100 percent covered
With insurance and it sound good to me there
Explanation
Am sorry I had to put this alert on here
But am only looking after the collectors of valuable machines interest
Now that the security is tight and I may have jumped the gun
I think it could be a good start for us sellers snd collectors

[slotsoffun]

So Jingle does that mean you'll enter your 10 machines? Hope so!!!!!

[treefrog]

I tell what is strange is an auction house reading a forum and taking immediate action on points raised……every post they have considered valid has been enacted upon immediately , from estimates to time to start a auction…….wow never seen the like before

[arrgee]

and I hope this bodes well for the future of live slot auctions, well done Cottees

[cottees]

We would like to point out that we are a large auction house with three separate auction halls, unfortunately the gentleman judged our foyer, within it is a large collection of fair ground ephemera, enamel signs, Vintage cars and collectable machines etc but these are Cottees own personal items that are left for people to view. If the gentleman had asked a member of staff we would have been happy to accommodate requests of viewing the items already entered in auction that are in one of our auction rooms ready to be set up for the auction.

[aristomatic]

A friend viewed items this morning, very quiet he said.

I said maybe more people viewing in afternoon, and then staying overnight or for the whole weekend.

[cheeky]

Confusing numbering system for those viewing remotely and the Salesroom still shows a much higher commission for those bidding. Am I missing something?