AuctionBytes-Update Number 19 - August 6, 2000 - ISSN 1528-6703
 
AuctionBytes-Update is a free newsletter for online auction buyers and sellers. Read reviews of online-auction products and services, tips on being more efficient, and the latest on antiques and collectibles. AuctionBytes-Update is published by email twice a month. (Print it out for easier reading.)

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IN THIS ISSUE:
1) From the Editor
2) e-Appraisals: What's It Worth?
3) The Maine Event: Stalking the Elusive Bargain up North
4) In Need of a Laugh: Check out eGad, a parody of eBay.
5) PriceRadar's Found in the Attic
6) COLLECTOR'S CORNER:
7) Thinking about Incorporating? Choosing a Business Model
8) Second Hand Rose
9) Contest Winners!!
10) FOLLOW-UP: Not a Banner Day for eBay
11) Newsflash
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1) FROM THE EDITOR

We took a week off and went to Maine on vacation. We found a cottage on Penobscot Bay in Maine. And yes, Maggie the Auction Hound came with us, of course. (To London61: thanks for telling me about the camp for dogs in Vermont http://www.campgonetothedogs.com - very cool idea.)

Although we had no computers, no telephones, no email (gasp!), we couldn't completely escape AuctionBytes.com. We stayed near Searsport, Maine, a treasure trove of antique stores and flea markets. And yes, we managed to attend an auction (and what an auction!). It was a benefit for the Searsport Congregational Church, and we found ourselves sitting next to the minister's wife. Unfortunately, she has very good taste and outbid us on several items!

David has the details of our Maine hunting adventures in his column, and fills you in on whether mid-coast Maine is a good place for collectors and dealers.

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We have a winner!
Three winners, actually. Scroll down to article #8 to see who won our photo identification contest presented in the last issue.

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We have a BRAND NEW feature on the Web site - the AuctionBytes.com Yellow Pages directory. You will find companies that provide products and services in the online auction and antiques & collectibles areas: comic book sleeves, online auction sites, appraisal services, shipping supplies and more. We will keep updating the directory to bring you more suppliers and information, and we will be adding some interesting features to the Yellow Pages in the future.

Please check out the AuctionBytes.com Yellow Pages - and tell your friends!

Ina Steiner, Editor
email: ina@auctionbytes.com

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2) e-Appraisals: What's It Worth?
By Ina Steiner

What is the difference between an appraisal and an e-appraisal? An appraisal is a binding evaluation of an object done in person. An e-appraisal is where you send a description and digital photos to a service that gives you an estimate of value based on the information you provide.

In situations where you need an appraisal, an e-appraisal will not work, since there is no direct inspection of the object. Cases in which you need an in-person appraisal: insurance purposes, to make IRS deductions on donations over $5000, estate tax liabilities, divorce, and functions in which litigation is a possibility. e-Appraisals can not authenticate an item.

How e-Appraisals Work
You must complete a form on the Web site and attach digital photos of your object. For a fee, you'll get a digital appraisal certificate within the specified time period. The e-appraisal is usually stored on the Web site permanently. I looked at three e-appraisal services. They all cost $20, they all take 3 business days to complete, and they all offer some method of displaying the results on a Web site without revealing your personal information, so you may include a link to the e-appraisal report in your online auction listing.

The biggest differences between these services are the appraisers themselves. Ask the Appraiser uses nine professional appraisers. Eppraisals.com uses a network of 700+ experts. AuctionWatch has a network of specialists overseen by four appraisers.

Buyers, if you see an e-appraisal posted on an auction listing, remember that the e-appraisal is based on the information given to the appraiser by the seller.

Ask the Appraiser
http://collectingchannel.com/cMart/cesATEIndex.asp
Fee: $19.95
Time to get e-appraisal: 3 business days
Stored on Web site? Yes; information provided by client with pictures is included so you know upon what information the appraiser based her value conclusion (no information about the client herself is provided for obvious privacy reasons)
Payment Methods Accepted: Mastercard, Visa, Am Ex
Appraiser Information: They have 9 professional appraisers (view their profiles at http://www.collectingchannel.com/cmart/cesEvlLstBio.asp?ata=  ).
Comments: A representative informed me that Ask the Appraiser is the only e-appraisal service that prepares the reports in conformance with the Appraisal Foundation's "Uniform Standard of Professional Appraisal Practice."

Eppraisals.com
http://www.eppraisals.com
Fee: $20
Time to get e-appraisal: 3 business days
Stored on Web site? Yes
Payment Methods Accepted: Visa and Mastercard
Appraiser Information: A network of 700+ experts with specialists in furniture, decorative and fine arts as well as categories like Star Wars and McDonald's memorabilia.
Comments: Eppraisals.com's primary business is online evaluations. It also offers a free expert referral service, and a "Second Opinion" service for buyers (see below)

AuctionWatch
http://www.auctionwatch.com/my/appraisal
Fee: $19.95
Time to get e-appraisal: 3 business days
Stored on Web site? Yes
Appraiser Information: Four AuctionWatch appraisers ( http://www.auctionwatch.com/my/appraisal/experts.html ) are supported by a network of specialists in various collecting categories.

Buyers: Get a Second Opinion Before Bidding!
e-Appraisals are for owners of an item. But what if you are considering purchasing an item and would like a professional opinion about its value? Eppraisals.com offers a "Second Opinion" service to help you evaluate the auction item you are considering buying.

You fill out a form on the Eppraisals.com Web site, giving the online auction site and auction number of the item you are interested in evaluating. An Eppraisals.com expert will tell you if the item is listed correctly, give you an opinion on a reasonable price you should expect to pay for the item, and answer one question of your choice. The second opinion is stored on the Eppraisals.com Web site for 24 hours. It takes 48 hours to get the "Second Opinion" and costs $20.

Summary
e-Appraisals are only as good as the information you provide the appraiser. Appraisers cannot authenticate items without seeing them in person. Don't forget to check online forums - if you are polite and patient, you may find lots of people willing to help identify your item. But you know you are dealing with an expert when you use an appraisal service - that's why you are paying $20.

NOTE: Other appraisal services: eBay at http://pages.ebay.com/help/community/auth-overview.html and www.AppraiseItNet.com .

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3) The Maine Event: Stalking the Elusive Bargain up North
by David Steiner

I'll admit to having visions of plundering the Northeast corner of the United States as I packed the car for a week's vacation in Maine. Aside from lobster, potatoes and blueberries, mid-coast Maine is well known for its antique shops, collectibles stores and flea markets. For some reason, even after 15 years of living in the Boston area, I had never fully explored the streets and back roads of our northern neighbor. I pictured barn-sized shops filled to the rafters with vintage treasures and yard sales that stretched as far as the eye could see, and I sped north up Route 95 to see if reality matched fantasy while my wife Ina quietly read her book beside me.

I was going to make a killing on eBay.

I became even more excited as I turned east onto Route 3 toward Belfast, Maine. Flea Market and yard sale signs lined the highway like mileage markers. I restrained my desire to set a land-speed record from Boston to Belfast and stopped to investigate some of these roadside gold mines.

Now, I don't know how it is in other parts of the country, but in Massachusetts I might find one or two interesting items at a yard sale and do a bit of friendly haggling. As an online seller, I'm acutely aware of my profit margin so naturally I'm looking for bargains.

Everything was interesting at my first Maine flea market! There were antique tools, McCoy Cookie Jars, Coke collectibles, and Japanese Wind-Up toys from the 60's...everywhere I looked there were items that I was convinced would start an online bidding frenzy. I was in collectibles heaven!

I set my sights on an old advertising oilcan that was slightly rusty and had a few minor dings in it. Not very pretty, but I knew that it would probably bring $30-40 on eBay.

Here's where I was injected with the sharp needle of reality.

Instead of the $4-5 sticker I was naively expecting, I found it marked at $37.50. OK, it was a fair price, but hardly worth the effort of putting the item online for a $2 profit. I picked up a few more items and looked at the price tags. Everything was marked close to, or at, book value.

I drove on.

A few miles up the road I stopped at a dilapidated barn that had a "yard sale" sign hanging in front and found some nice pieces of Carnival Glass and old Silver Age comic books inside. Again, everything was all priced fairly, but I would be unable to squeeze a profit from an online auction. I was beginning to realize that these Mainers knew the value of their stuff! That realization was confirmed at the next few yard sales. Not only was everything priced at book value, but I began seeing the books to prove it! Many of these sellers had a Kovel's Guide or Antique Price Guide within arm's reach.

My visions of driving home with my SUV filled with a year's supply of prime eBay goodies quickly began to dissipate like a Bar Harbor fog.

Now at this point of the story, I know what you're thinking: It serves me right for thinking that I could take advantage of the good people of Maine, who have brought us such American treasures as Pepperidge Farms and Poland Springs.

Well, yes...I am somewhat ashamed and mildly humbled.

But I'd like to state for the record, that, as I started to come back to earth with my expectations, I began to talk to these roadside sellers and found them warm, friendly and exceptionally knowledgeable about vintage items. The week's stay evolved from a frenzied collectibles expedition to a relaxed tour of one of the country's most interesting and beautiful areas.

Over the next week, Ina and I investigated many of the antique stores along Route 1. We poked our heads into several more flea markets and even attended a church auction that was great fun. Along the way, we found some very nice additions to our own collections (and yes, a couple of bargains!).  But the real gems of the trip were the fascinating conversations with shopkeepers and other collectors who had driven from as far south as Florida to check out Maine's coastal beauty and vintage treasures.

So what's the moral of the story?

Well, it could be that if you're looking for a bargain at a yard sale, come to Massachusetts.

Then again, it just might be that the object of going antiquing and yard saling isn't to snag a priceless Tiffany Lamp for a few dollars.

It's to enjoy the process.

There's a lot of satisfaction to be gained from getting in the car early Saturday morning, grabbing coffee from the local Dunkin' Donuts and driving from sale to sale while talking about the week's events with a spouse or friend. It's the sense of community you gain with the familiar faces that you see every weekend at yard sales and auctions. Many of them share the same passion that you do. 

I really did know that already.

Maine just reminded me.

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4) In Need of a Laugh: Check out eGad, a parody of eBay.

For a site that makes fun of eBay, check out http://www.capnwacky.com  and click on eGad. Featured Items include the Presidency of the United States of America and an auction Web site (guess which one).

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5) PriceRadar's Found in the Attic: Play Ball!
by David Steiner

August generally means sweltering heat, getting the kids ready to go back to school, and baseball pennant races that are starting to get interesting. We decided to see if there's any scientific value to using online auctions as a predictor of who will be in the World Series in October.

We took the 7 division-leading teams (the Diamondbacks and Giants were tied for 1st in the NL West on the date searched), checked out how tickets to their ballgames were doing in online auctions and came up with the following: It's up to you to interpret the data, though!

All searches were done with PriceRadar's Price Guide Tool. Go to http://www.priceradar.com/default.asp?refID=101  and try your own searches!

American League:

Chicago White Sox
Number of Items Sold 29
Number of Items Unsold 16
Sellthrough Rate 64.44%
Highest Priced Item $135
Lowest Priced Item $20
Average Price $62.88

Seattle Mariners
Number of Items Sold 2
Number of Items Unsold 4
Sellthrough Rate 33.33%
Highest Priced Item $255
Lowest Priced Item $180
Average Price $217.50

New York Yankees
Number of Items Sold 69
Number of Items Unsold 25
Sellthrough Rate 73.4%
Highest Priced Item $315
Lowest Priced Item $9
Average Price $109

National League:

Arizona Diamondbacks
Number of Items Sold 0
Number of Items Unsold 0
Sellthrough Rate 0
Highest Priced Item 0
Lowest Priced Item 0
Average Price 0

Atlanta Braves
Number of Items Sold 22
Number of Items Unsold 12
Sellthrough Rate 64.71%
Highest Priced Item $246.01
Lowest Priced Item $30
Average Price $85.27

San Francisco Giants
Number of Items Sold 33
Number of Items Unsold 14
Sellthrough Rate 70.21%
Highest Priced Item $230
Lowest Priced Item $10
Average Price $48.99

St Louis Cardinals 0
Number of Items Sold 0
Number of Items Unsold 0
Sellthrough Rate 0
Highest Priced Item 0
Lowest Priced Item 0
Average Price 0

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6) COLLECTOR'S CORNER

Free Email Newsletter for Collectors
By Ina Steiner

Antiques & Collecting Newsletter is a free twice-monthly email publication I've been subscribing to for some time now. They always have interesting stories about collectibles. Ron McCoy [rmccoy@channelspace.com] has written and edited it for five years. The newsletter keeps subscribers informed and up-to-date on general news/tidbits regarding the antiques/collecting hobby, articles of interest to collectors, "what's hot", special guest columns, tips on buying/selling/trading online, help with available collecting resources, and other timely information. If you want to subscribe, send a blank email to: antique-collect-subscribe@topica.com , or email Ron at rmccoy@channelspace.com .

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Collector's Corner: Learn the Lingo of Art Collecting

The Biddington's Web site has a "Pedigree & Provenance" feature where they define art words & terms. Go to http://www.biddingtons.com  and scroll all the way down to the bottom of the page and click on "Pedigree & Provenance." You, too, can brush up on etchings (and how they are different from engravings), Depression glass and bronze patina.

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Collector's Corner: Sports - Buyer of $1.265 Million Honus Wagner Baseball Card Revealed
By Wayne Tuiskula

Brian Seigel, a southern California businessman, bought the legendary T206 Honus Wagner baseball card for a record price of $1.1 million ($1.265 million after buyer's fee) on eBay. Bidding on the legendary card ended on Saturday. In an interesting comparison, the card was sold privately in 1985 for $25,000.

Seigel is an avid sports memorabilia collector who started collecting baseball cards at the age of 10. Following a period of inactivity, Seigel renewed his interest in card collecting in the 1980s by focusing on vintage cards, including the T206 series.

For more information about this legendary card, see http://www.thewagnercard.com and http://www.auctionbytes.com/Email_Newsletter/10/11/12/13/16.html#cc

For a chart of the 27 Highest Recorded Sales of Significant Baseball Cards At Public Auction, see http://www.thewagnercard.com/popupchart.html

Sports Editor Wayne Tuiskula has a long-time interest in sports collectibles. He and his wife Amy run estate sales in addition to their other careers. Email Wayne at tuiskula@tiac.net . eBay ID: tuiskula

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7) Thinking about Incorporating? Choosing a Business Model
by Edith Reynolds

To incorporate or not to incorporate, that is the question. Whether it is better to LLC or privately own...oh, you get the idea.

Choosing a business model for your online enterprise is an important decision to make no matter how you look at it. And sometimes it's not easy to determine what path is the best one for you. But it may have gotten simpler. Cherry Hill-New Jersey attorney, Ron Cappuccio, created an online "determinator" last February that offers an easy to use template that narrows down those choices for you. Using his Web site http://www.taxesq.com  (click on Choose the Best Legal Entity for your Business), you can enter basic information about your company and yourself that will recommend whether it is in your best interest to form a private ownership, Limited Liability Company, incorporation, or partnership.

According to Cappuccio, "except for Louisiana, there are great similarities within states" for how the different business entities function. He says the advantage of using his determinator prods the novice entrepreneur into discussing and thinking about how to form their company. "I wanted to alert people to making a choice from the beginning," he says. "If it's not set up right in the beginning, it will cost a lot more to correct the mistakes later."

Those mistakes can prove costly, both in taxes and liability. A quick look at the pros and cons of each is as follows:

Sole proprietorship:

Pros--This is the least expensive form of business to start and has the double advantage of allotting you complete control over your company and is not taxed separately.

Cons--Because the buck stops with you, so do the bills. You have to pay all debts that incur, and if the business fails it's the personal assets that get attached.

This form of business expands beyond the mom and pop run entity, employees can be hired but you will need a federal identification number. And your community may require that you register with them as a business, check with your local town hall.

Partnerships:

Pros--This is an agreement between two or more partners in a venture and should be put in writing to avoid future conflicts. This kind of arrangement allows each member to add his or her strengths to an undertaking.

Cons--Each partner is responsible for the obligations of the business and any contract made by a partner is binding for all. The death or withdrawal of a partner may jeopardize the business.

Limited Liability Companies (LLC):

Pros--Members are not exposed to being personally liable for the company or its members. Those participating in the business may be other than individuals. LLCs can include partnerships, trusts, or corporations and the number of participants is not limited. Outside management may be hired to run the company.

Cons--It is not recommended that individuals form an LLC (in some states they may be prohibited from doing so). It is more costly than a sole proprietorship and members may have to pay self-employment taxes (depending on the state where they do business).

Corporations:

Pros--The business' life extends beyond that of its inceptors. Liability is limited and extends only to the corporation's assets unless the personal assets are pledged as collateral. The corporation may be organized in any state and do business elsewhere. Earnings may be retained for future investment.

Cons--It is more complicated and expensive to form a corporation. If you do business other than the state where you incorporated, you may be subject to additional fees and taxes. You must be careful to adhere to the corporate formalities such as issuing stock certificates, annual meetings, recording the meeting minutes, and electing directors, otherwise a suit against the company may claim the shareholders personally responsible for corporation debts. Administration of a corporation is complicated and costly.

There's no need to panic if you can't decide right now. The budding entrepreneurs can opt for the least complicated form for doing business at first, changing the company's structure as you grow or expand. But no matter what you personally choose as the best way to go, talk with a tax attorney and accountant to see the pros and cons for yourself and what your community will require. Ron Cappuccio advises you choose a professional with experience working with small businesses. You can check online or contact him after using his determinator to see what's the right business path for you.

Edith Reynolds is a former newspaper and magazine writer. She and her husband Dan own an antiquarian bookstore, The John Bale Book Company in Waterbury, CT. For the past nine years, they have specialized in early Americana and rare bindings. They are members of the ABAA - Antiquarian Booksellers of America Association, ILAB - International League of Antiquarian Booksellers, IOBA - International Online Booksellers Association, and OAUA - Online Auction Users Association. Edith manages online sales. In addition to their bookstore, they sell on eBay and at book fairs. Visit Edith's Web sites, http://www.taxter.com  and http://www.usiana.com . eBay IDs: TAXTER , TAXTER2 , TAXTER3 , USIANA , BALEBOOKS

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8) Second Hand Rose - Antiques Primer, Vintage Clothing

"A Fortune in the Junk Pile - A Guide to Valuable Antiques that May Be Hidden in Attic or Cellar" by Dorothy H. Jenkins is a very good guide to antiques. I picked up a first edition 1963 copy at a yard sale for $1. You won't find Fiesta ware or Hull or McCoy in this edition (too old), but you will find things like carnival glass. A very handy chart explains furniture periods (Jacobean, Queen Anne, Chippendale, Hepplewhite, Sheraton, for example. All names I've heard of but, what were the years, and what distinguished the styles?) An excellent primer for a bargain price (look for this out-of-print book on online auction sites and Amazon's zShops).

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Check out this vintage clothing site, What Comes Around Goes Around ( http://www.nyvintage.com ). Gerard Maione and Seth Weisser opened the retail store in Soho, New York, in 1992 and went online four years ago.

What Goes Around Comes Around also buys clothing - in particular they are looking for Patagonia, Polo button dress shirts and Gloverall duffel coats. Cool item that is a must-have: 1970's women's tennis skirt, polyester, $30!

And if you like this site, try http://www.catspajamas.com .

Tell Second Hand Rose about your favorite resources, inventory sources and tips! Or your favorite "second-hand" story. Email SecondHandRose@AuctionBytes.com .

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Advertise in AuctionBytes-Update newsletter! For ad rates, visit http://www.auctionbytes.com/Advertising/advertising.html
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9) Contest Winners!!

In the last issue, we announced a contest to see who could pick our editor, Ina Steiner, out of a series of photos of children clutching their toys.

The Winners are: Diane S., Kate C. and Jane M.

Congratulations on being the first three readers to correctly identify Ina! You will receive $10 each. All winners have been notified via email.

You can find the answers at:
http://www.auctionbytes.com/Email_Newsletter/toypics/toypics.html

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10) FOLLOW-UP: Not a Banner Day for eBay

In issue #17, we wrote about targeted banner ads on eBay's search pages ("Not a Banner Day for eBay" - http://www.auctionbytes.com/Email_Newsletter/17/17.html#banner). An example of a targeted banner ad: If you search for "drill" on eBay, a banner ad comes up advertising OurHouse.com, a partner of Ace Hardware. eBay sellers felt these targeted ads were in direct competition with their auctions. Well, it seems like this issue is back in the spotlight.

One of our astute readers wrote to us that if you do a search for Ken Griffey Jr. on eBay, an ad banner comes up with Junior's image and a link to Athletesdirect.com, which sells collectibles in its store. We discovered the same thing happens when you type in the name of Red Sox Player Nomar Garciaparra (but with the Nomar's image).

We discovered on Broadband Sports Web site (owners of AthletesDirect.com), the following: "AthletesDirect's partnership with eBay, the world's largest online trading community, gives athletes a valuable platform to provide one-of-a-kind memorabilia items in an auction format to the online world at large. AthletesDirect retains a continuous placement on the front of eBay's sports collectibles page with links to the various pages featuring AthletesDirect's athletes and sports personalities."

This is still a hot topic and we'll be following it closely.  You can also log onto http://www.millionauctionmarch.com , a newly formed organization that closely follows these kinds of issues.

You can also vote in our survey at http://www.auctionbytes.com  and leave a message in our chat forum to register your opinion.

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11) Newsflash

We now have a "Newsflash" feature on the Web site that brings you daily online auction news. Go to the home page at http://www.auctionbytes.com  for the latest online auction news and announcements.

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AuctionBytes-Update ISSN 1528-6703
AUCTIONBYTES.COM CONTACT INFORMATION
Editorial: ina@auctionbytes.com 
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Letters, Comments, Suggestions: feedback@auctionbytes.com
Want to Write for AuctionBytes-Update? Go to http://www.auctionbytes.com  and click on "write for us" to view author guidelines. If you are interested, send email to ina@bibliodata.com .

Ina Steiner, Editor, Publisher and Co-founder: ina@auctionbytes.com 
David Steiner, Webmaster, Technical Editor, President and Co-founder:
dsteiner@auctionbytes.com
Michele Alice, Contributing Editor
AuctionBytes.com
c/o Steiner Associates
PO Box 668
Natick, MA 01760
508-655-5697
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