Auctions in a time of uncertainty

- by Bruce E. McKinney

Auctions are thriving

Collectible paper at auction has been on a tear post-Covid and now we’re entering a period of political uncertainty.  To understand how the auctions and their consignors are responding, our auction data provides perspective on how the market is unfolding.

 

Given this, here are possible projections for 2024.

 

The auctions we posted and completed through 30 May, 2024, are showing substantial growth both for the number of auctions and lots posted.

 

I then compared both the number of auctions and lots posted for January – May for the past 3 years to see what their January - May numbers turned into for their full years. On average J-M’s numbers turned out to be 40% what the full year’s results became.*  This means this year's 1,158 sales are projecting 2,907 sales for the full year.  If so, Golly Gee Willikers!

Year J-M

Auctions

Lots

 

2021

858

236,960

 
       

2022

990

261,460

 
       

2023

1008

261,076

 
       

2024

1158

284,489

 

 

 

Full Year 

Lots Offered

Lots Sold

% Sold

2.5 x J-M

2319

636,853

522,032

                   82%

2.7

         

2354

626,346

504,795

81%

2.38

         

2480

658,433

525,433

80%

2.46

         

2,907

714,067

571,254

78%

2.51

 

 

            And can we reach a billion dollars for collectible paper again?

 

The answer is yes if the average sale is $1,750.05.

 

All this said, we have no idea how this year’s political uncertainty is going to affect consignments.  Right now, it’s full speed ahead!