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<p>[QUOTE="TIF, post: 2316259, member: 56859"]I was very busy and didn't fully vet the Roma auction so I didn't bid on anything. A quick post-auction review shows that Roma (or their consignors) are continuing their unfortunate practice of setting high estimates. With opening prices set at 80% of estimate, that means many unsold lots. It was particularly bad a few auctions ago and I hoped they would reassess their strategy. Apparently not.</p><p><br /></p><p>I don't think the concurrent NY auctions played a huge role in today's very tepid Roma auction. I think it was the high estimates/openings. The GBP-USD exchange rate is fairly favorable at the moment and that didn't seem to help Roma today. </p><p><br /></p><p>A quick breakdown (may have some slightly inaccurate counts because I was distracted during counting):</p><p><br /></p><p>Total number of lots: 758</p><p>Lots unsold: 266 (35%)</p><p>Lots which sold for opening bid: 150 (30% of sold lots went for opening)[/QUOTE]</p><p><br /></p>
[QUOTE="TIF, post: 2316259, member: 56859"]I was very busy and didn't fully vet the Roma auction so I didn't bid on anything. A quick post-auction review shows that Roma (or their consignors) are continuing their unfortunate practice of setting high estimates. With opening prices set at 80% of estimate, that means many unsold lots. It was particularly bad a few auctions ago and I hoped they would reassess their strategy. Apparently not. I don't think the concurrent NY auctions played a huge role in today's very tepid Roma auction. I think it was the high estimates/openings. The GBP-USD exchange rate is fairly favorable at the moment and that didn't seem to help Roma today. A quick breakdown (may have some slightly inaccurate counts because I was distracted during counting): Total number of lots: 758 Lots unsold: 266 (35%) Lots which sold for opening bid: 150 (30% of sold lots went for opening)[/QUOTE]
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