General vintage slot machine related topics.
roger
Posts: 54
Joined: Mon Mar 05, 2012 7:43 pm

More Money than Brains....

Postby roger » Thu Sep 24, 2020 11:29 pm

You may want to check out the Morphy auction scheduled for October in the U.S...........all items are pictured on their website. I would like to hear your comments regarding the estimated prices.

Coin-op collecting in the U.S. first started to gain popularity in the 1970s. Machines were available at a reasonable price relative to an average annual income.

If prices at this auction achieve their estimates, it is my humble opinion, that coin-op collectors are ready for the LOONY-BIN. !!SUICIDAL!! ROGER

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clubconsoles
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Location: Lowestoft, Suffolk

Re: More Money than Brains....

Postby clubconsoles » Sat Sep 26, 2020 8:03 pm

Roger
They have always been high, seem to be even higher since their previous auctions were cancelled due to Covid. Maybe they are trying to make up for lost commission by ramping up estimates. Was a great shame they pulled out of Vegas, i doubt i will go again :( :(

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moonriver
Posts: 564
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Re: More Money than Brains....

Postby moonriver » Sat Sep 26, 2020 8:27 pm

Morphy's have had nothing but bad feedback from customers about pulling out of Vegas. They use the reasoning that the Vegas site was not cost effective to run, but it should have been worth them subsidising it to keep it there longer.
There was a noticeable decline in attendance over recent years as more of the old American collectors have died and their collections come to auction. To some extent it was competition from this pool of high end collectors that kept prices up. It will be interesting to see what will happen long-term.

roger
Posts: 54
Joined: Mon Mar 05, 2012 7:43 pm

Re: More Money than Brains....

Postby roger » Sat Sep 26, 2020 9:44 pm

MOONRIVER commented that more of the old American collectors have died off.........

As I look around, I must be the last one kicking having just reached ninety five.

Again, I will be truly amazed if the machines reach their estimated prices. ROGER !PUZZLED!

roger
Posts: 54
Joined: Mon Mar 05, 2012 7:43 pm

Re: More Money than Brains....

Postby roger » Sat Sep 26, 2020 10:00 pm

P.S. Assuming I last till the auction next month....be assured that I will not be bidding.

GUESS WHO ??????????? !!DIG!!

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clubconsoles
Posts: 308
Joined: Sun Jan 13, 2008 9:36 pm
Location: Lowestoft, Suffolk

Re: More Money than Brains....

Postby clubconsoles » Sun Sep 27, 2020 12:06 pm

moonriver wrote:
Sat Sep 26, 2020 8:27 pm
Morphy's have had nothing but bad feedback from customers about pulling out of Vegas. They use the reasoning that the Vegas site was not cost effective to run, but it should have been worth them subsidising it to keep it there longer.
There was a noticeable decline in attendance over recent years as more of the old American collectors have died and their collections come to auction. To some extent it was competition from this pool of high end collectors that kept prices up. It will be interesting to see what will happen long-term.
100% agree moonriver

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treefrog
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Location: Suffolk

Re: More Money than Brains....

Postby treefrog » Sun Sep 27, 2020 12:55 pm

I am not sure it matters where an auction house is when you have a country as big as the US. The important thing is the service, quality of lots submitted and reputation. I have seen the US collectors moan on the Facebook groups, but collectors moan about every auction house. Look at everyone who moans about the Elephant House and Coventry, but they still go.

One thing is certain, from the quality of the auctions over the years, they far exceed any other I am aware of in the US. Personally I found them very helpful when buying machines. I have heard of the bad cases of mis advertised items that are not true, but that happens everywhere. In terms of valuations, it looks like generic prices have been applied across many types. Not a lot of internet for collectors of British machines :#: At the end of the day if too high, they lose.....

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gameswat
Posts: 1898
Joined: Sat May 30, 2009 5:17 am
Location: perth, australia

Re: More Money than Brains....

Postby gameswat » Sun Sep 27, 2020 4:16 pm

Well since this is the last of Mel Getlans world class collection going to auction there is indeed a precedent set by his first auction in 2012, when over 300 pieces sold for a million dollars! Mel had one of the top 5 collections ever put together, known for rarity and fine condition, and most of these pieces have not seen the market place in 20, 30, 40 years. So I'd guess many of the estimated prices will turn out to be too low rather than too high. :!?!:

roger
Posts: 54
Joined: Mon Mar 05, 2012 7:43 pm

Re: More Money than Brains....

Postby roger » Sun Sep 27, 2020 6:15 pm

In reply to gameswat.....ANYTHING IS POSSIBLE..........In the world of securities we refer to it

as the "greater fool theory"...........all it takes is one person willing to buy it from you at a higher price. |/XX\|

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moonriver
Posts: 564
Joined: Wed Oct 16, 2013 12:56 am

Re: More Money than Brains....

Postby moonriver » Sun Sep 27, 2020 9:00 pm

treefrog wrote:
Sun Sep 27, 2020 12:55 pm
I am not sure it matters where an auction house is when you have a country as big as the US. The important thing is the service, quality of lots submitted and reputation. I have seen the US collectors moan on the Facebook groups, but collectors moan about every auction house. Look at everyone who moans about the Elephant House and Coventry, but they still go.

One thing is certain, from the quality of the auctions over the years, they far exceed any other I am aware of in the US. Personally I found them very helpful when buying machines. I have heard of the bad cases of mis advertised items that are not true, but that happens everywhere. In terms of valuations, it looks like generic prices have been applied across many types. Not a lot of internet for collectors of British machines :#: At the end of the day if too high, they lose.....
I think the point I was making is the VCA auction that Morphys bought out was a bit of an institution in Vegas, and whilst Morphys kept it there it was real fun visiting, staying in one of the nearby casinos on the Strip, many cheap flights out there to Vegas, making a trip of it, seeing some shows, fun 3 to 4 day stay along with the auction.
Now Morphys have moved it back to Denver, there is nothing else to do there compared to Vegas.
I do like Morphys as an auctioneer, very helpful and professional, and I buy from them a lot.
It's just very disappointing that Morphys Vegas are no more, everything changes in life, including our auctions at home, which is sad


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