For objects of such an era, how can we just lay them out in stores to be prodded and poked by the multitudes? No, they belong in the auction room, where only the select individuals who care enough about these golden girls and boys can have the chance to prove their worth by fighting for these objectsin the battle-ground of the auction room.

How Auctions Work

With the advent of Internet auction sites, it may seem that traditional auction houses will soon be going the way of the dinosaur. But Skinner's Motion Pictures Posters & Ephemera auction on Nov. 20 proved that the traditional auction venue is still popular, and in fact thriving in these modern times.

Offering 579 lots which consisted of movie posters, theater prints and "ephemera," memorabilia that is not produced to last long (i.e. cigar wrappers and baseball cards), the specialty auction drew an audience of approximately 200 guests, either registered bidders or simply curious onlookers. On the day of the auction, auction-goers can either bid by raising numbered paddles, or, if they are unable to make the event, call in a few days prior to the auction to express interest in a particular lot. The day of the auction, a Skinner employee would physically make the bids for the prospective buyer who would direct them over the telephone.

A lot is usually offered at the specialist's estimate, and if there is no interest, the price will be lowered to two-thirds of the estimate, and then finally half the price. If there is still no interest, the item will remain unsold. The auction house does not own any of the items that it sells; rather, they sell on consignment, and receive a seller's commission from the original owner and a buyer's premium of 15 percent from the winning bidder. These revenues go to defray the costs of advertising the auction, photographing the lots, creating the catalog and paying the staff. Despite the rapid pace of the auctioneers (usually 80-100 lots are sold an hour), due to the high number of lots, the auctions can last up to 5-6 hours.

Skinner hosts over 60 auctions a year that sell items ranging from American furniture to couture. All auctions are free and open to the public.