Replies to This Discussion

Permalink Reply by Paul on February 11, 2015 at 8:11pm

Is that just a fedora hat signed or his hat that he wore.

• ▶ Reply

Permalink Reply by Lynn on February 12, 2015 at 6:37am

Hat that he wore

• ▶ Reply

Permalink Reply by Dane on February 11, 2015 at 11:05pm

Lynn, what would you estimate your items to sell for in a retail setting? From that number, subtract 3% off the price for each quarter that you'd expect the item to go unsold. Deduct an additional 25% of the retail price from your total. That's the amount you'd likely generate if you put the items up for sale yourself in a store.

If the Julien's estimate less 40% is close to the number calculated above, it might be in the ballpark of what you'd expect to make. Also consider that most major auction houses will 1099-MISC you for the proceeds paid to you, so you should have accurate records available reflecting what your investment is in the items in aggregate.

Did you get the items signed in person? I know Hooker is supposed to be a pretty rare signature, but I also have seen that lots of forgeries are floating about. You might be best off consigning the items with a major music seller or something similar. Just my thoughts.

• ▶ Reply

Permalink Reply by Lynn on February 12, 2015 at 6:41am

Hi Dane,

Thanks for your reply. I worked as Mr. Hooker's assistant for 8 years. I also handled all of his fan mail. These items were all obtained by me personally. I have lots of signed LPS, awards, the fedora, etc. I am reluctant to part with them with such high commissions. 

What kind of major music seller are you referring to?

Lynn

• ▶ Reply

Permalink Reply by Lynn on February 12, 2015 at 6:42am

Also, Julien's has no reserves on the items! Looking at Bonhams as well, but would entertain a music seller or just keep them!

• ▶ Reply

Permalink Reply by stevo on February 12, 2015 at 9:00am

I would suggest Heritage Auction House in Dallas.  I have sold some items through them and their Fee was only 10%.  I believe for their sports memorabilia they want items that could go for in excess of $1,000.  I do not know what they look for in Music memorabilia but they are a well regarded auction house.  I have purchased from them in the past and have no issues.

• ▶ Reply

Permalink Reply by Lynn on February 12, 2015 at 9:12am

Thanks Stevo for the recommdenation!

• ▶ Reply

Permalink Reply by Dane on February 14, 2015 at 10:48am

Heritage has a 25% Buyer's Premium on the Music category, so that "only 10%" is a bit deceptive. Let's say your item sells for $1000, the actual price paid by the buyer is $1250 plus shipping and expense. Your payment as consignor is $900. That makes the real fee paid 29.167%, not 10%. Also, Heritage doesn't really allow reserves, except on very special items.

Something else to consider: Market price is usually determined by perceived rarity/scarcity of items relative to demand for those items. If you have enough items that you would impact the perceived scarcity, you should consider releasing the items to the market over a longer period of time. For the most part, auction houses don't like to do that, as they don't like holding inventory. I would consider looking at what you have and setting aside items you really like. Keep those. Next, set aside items you think would be exceptionally rare (the hat, for example, if he wore it on stage). Keep those, as well.

From what's left, sell the lowest valued or most common items first.

• ▶ Reply

Permalink Reply by Lynn on February 15, 2015 at 9:35am

HI Dane,

Thanks for the great advice. Perhaps I'll start with the autographed LPs and keep the hat and award. I don't believe it's a hat he wore on stage, but it was his. How would I authenticate that except that I worked for him?

• ▶ Reply

Permalink Reply by Mike Kaminski on February 15, 2015 at 9:41am

Photos of him wearing it would be key. 

• ▶ Reply

Permalink Reply by Lynn on February 15, 2015 at 9:45am

Don't have them, so just keep it?

I have other items that he was wearing on album covers such as a shirt and sunglasses, but they are framed and hanging on my wall! Don't want to sell them now.

Permalink Reply by Mike Kaminski on February 14, 2015 at 11:34am

Might be controversial right now, but I'd look at RR.

• ▶ Reply

• ‹ Previous
• 1
• 2
• Next ›
• Page