Cottees Auction of coin operated machines

Discuss our on-site auctions and other slot machine auctions.
User avatar
treefrog
Posts: 4397
Joined: Mon Sep 29, 2008 2:46 pm
Location: Suffolk

Re: Cottees Auction of coin operated Machines

Post by treefrog »

!!THUMBSX2!! Excellent !!CHEERS!! , I assume you can view when you open on the day…
User avatar
moonriver
Posts: 840
Joined: Wed Oct 16, 2013 12:56 am

Re: Cottees Auction of coin operated Machines

Post by moonriver »

treefrog wrote: Wed Jun 15, 2022 4:38 pm Hi Cottees

Can you confirm any reserves are at least at the lowest estimate or below? Many thanks.
!PUZZLED! have I missed the response?
User avatar
treefrog
Posts: 4397
Joined: Mon Sep 29, 2008 2:46 pm
Location: Suffolk

Re: Cottees Auction of coin operated Machines

Post by 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 !THUMBS!

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 :cool:

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

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 :tut
pennymachines
Site Admin
Posts: 5901
Joined: Wed Nov 06, 2002 12:12 am
Location: The Black Country

Re: Cottees Auction of coin operated Machines

Post by 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.
User avatar
treefrog
Posts: 4397
Joined: Mon Sep 29, 2008 2:46 pm
Location: Suffolk

Re: Cottees Auction of coin operated Machines

Post by 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
User avatar
moonriver
Posts: 840
Joined: Wed Oct 16, 2013 12:56 am

Re: Cottees Auction of coin operated Machines

Post by 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
Site Admin
Posts: 5901
Joined: Wed Nov 06, 2002 12:12 am
Location: The Black Country

Re: Cottees Auction of coin operated Machines

Post by pennymachines »

treefrog wrote: Thu Jun 16, 2022 5:45 pm Not sure where you got that...
I don't know either. Talking rubbish again. Maybe thinking of property auctions where:
Auction House.co.uk wrote: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.
Sotheby's wrote: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.
rogersjones.co.uk wrote:Items with Reserve prices will, if necessary, be sold with a 10% discretion.
Stride & Son Auctioneers wrote: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
Posts: 620
Joined: Tue Jan 05, 2010 11:21 am

Re: Cottees Auction of coin operated Machines

Post by 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
User avatar
treefrog
Posts: 4397
Joined: Mon Sep 29, 2008 2:46 pm
Location: Suffolk

Re: Cottees Auction of coin operated Machines

Post by 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 :HaHa: ……..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 :lol:
jimmycowman
Posts: 740
Joined: Thu Feb 02, 2006 6:05 pm
Location: staffordshire

Re: Cottees Auction of coin operated Machines

Post by 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 👍👍👍
Post Reply

Who is online

Users browsing this forum: No registered users and 2 guests