Why the ScreenUsed auction is good for the market
by Fong Sam
On Friday, ScreenUsed announced its very first live auction to be held on July 21, 2012. Up until now, the company has been an online retail outlet for movie props and wardrobe. There are currently over 1,500 items listed for sale on its website. While there are a number of high-end items–Leonardo diCaprio’s outfit from Titanic ($29,999), an original poster artwork from The Ten Commandments ($18,799)–the bulk of ScreenUsed’s inventory is priced in the mid-range market of entertainment collectibles.
In fact, the opening letter in ScreenUsed’s online auction catalog declares that the company’s target is the “mid-tier” market:
“We feel there is demand in the market for a mid-tier auction offering – not the million dollars per item level, nor the warehouse blowout level.”
I think this is great for the market as a whole. Because the high-end market is relegated to the elite few, it is up to the the mid-tier market to expand the industry. That means growing the base and attracting new buyers. Moving the middle is the only way to move the bell curve. So for those of us in the business, we should all hope for this ScreenUsed auction to be a huge success.