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Thread: Eye Strain: Momotaro Auction December 12-13, 2016

  1. #11
    Sansai
    Join Date
    May 2012
    Posts
    155
    Quote Originally Posted by MikeM View Post
    I have not heard anything. It is considered inappropriate to publicize the bids. Unless a dealer attending (or a purchaser for whom a dealer acted) discloses something, we will never know. If there is a phenomenally high winning bid, word usually leaks out eventually, but at these auctions it truly has to be extraordinary to make good gossip.
    Mike M

    Maybe you could give us a very educated guess.

    You are in the know regarding all things Koi.

    I certainly do not have clue.

    Garfield.

  2. #12
    Daihonmei MikeM's Avatar
    Join Date
    Dec 2003
    Location
    Orlando, Florida
    Posts
    11,128
    LOL... To the extent I am 'in the know', it's because somebody informed me or pointed me in the right direction. Nobody has told me about this auction.

    Folks are always wanting to know the auction prices, but it is in the interest of the participating dealers to stay quiet. Some of the koi are purchased for a specific customer based on a pre-authorized maximum. Some are acquired by a dealer with the intent to re-sell. If the prices were all known, it would limit re-sale profitability and breach client privacy. The purchasers can always reveal what they wish. Most do not make their spending public.

    At any auction there can be individual koi that go for very high prices. These get attention. What folks do not seem much interested in is what was the lowest price. There will be some koi that go for a comparatively low amount. There will be some koi no customer has pre-authorized a dealer to bid on, perhaps more so as you get late in the season and dealers' regular customers have already made purchases. Such a koi is going to be sold only if a dealer is ready to have her in inventory. There may not be many dealers with facilities or capacity to care for such a koi. The koi may have basic positives, but nothing especially outstanding. If a dealer does not have particular customers in mind as likely interested in that koi, it is going to take a comparatively low price for a dealer to take the risk of being able to make a profitable re-sale. I have heard stories of sound koi going for 'just' a few thousand dollars to the surprise of many.

    If there is a koi up for auction and you know a dealer who can bid, give them your authorized amount. The worst that can happen is you don't spend your money, which may not be a bad thing at all.

    But with all auctions, whether koi or antiques or art or land, who ever wins has inherently paid more than what anyone else was willing to pay. So, if it was a well-attended auction, the winning bidder has paid more than the market value of the koi. Breeders can hurt themselves, however, by placing more koi up for auction that the market can bear. If they do that, there will be more going lower than folks thought.

    There are a lot more auctions now than in the past. Pre-auction publicity on the internet with all the photos and videos has allowed breeders to reach hobbyists directly, leading to more dealers having pre-authorizations. This drives up the prices. And, it contributes to cementing the market position of SFF, Dainichi and Momotaro. A great breeder with smaller facilities and limited staff has difficulty producing enough koi to have such large auctions, and probably lacks the internet knowledge and resources to do the pre-auction publicity. As the deepest pockets gravitate to the big breeders, it becomes more difficult for the smaller breeders, even those with well-known names.

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