Reading the tea leaves

In the example of a $100,000 consignment with high reserves the seller nets $60,000 and brings home $40,000 of material.

In the example of a $100,000 consignment with medium reserves the seller nets $71,250 and brings home $25,000 of material.

In the example of a $100,000 consignment with low reserves the seller realizes $81,000 and brings home $10,000 of material

Included with this article is a chart by month of median auction realizations, recently adjusted to reflect results reported through the end of September.  The red lines cross at what appears to be the market bottom.  Since then the market appears to be recovering.