Pens do turn up now and then at local auctions, mixed in among all the other stuff. Those with sufficient time and patience can occasionally find some excellent deals there. Most of us, however, find it uneconomical to prospect through so much ore for so few gems. The main venues for pens at auction are currently on-line auctions, pen show auctions, and a handful of general auction houses that run specialist sales.
The chief on-line auction venue for pens is eBay, whose volume in the Writing Instrument area is truly enormous. Much of this is new stuff, however, along with loads and loads of hopeless junk. With so many uninformed bidders and descriptions that are usually less that comprehensive, it is no surprise that prices on vintage items can be all over the place. Better pens often go high, especially considering that most are in less than great condition and are sold as-is. Buyer beware: many pens on eBay are misrepresented as to rarity, identity, and condition. We have seen and heard about many pens listed as in excellent working condition that proved on receipt to be extensively damaged and/or missing parts. Unfortunately, eBay's system of rating sellers by feedback isn't much help, since no one wants to give negative feedback, even if they've been cheated, out of fear that they'll be given negative feedback in return. Indeed, there are a number of sellers whom we now avoid on eBay due to persistent overgrading, though we are not about to post public criticism lest it jeopardize our ability to do business with these same sellers face-to-face at shows. For your amusement, you may wish to look at our eBay Glossary, a bit of humor originally published in The PENnant.
Penbid is another online venue for vintage pens, but in our considered opinion is now to be avoided. Fraudulent listings have become all too common, usually involving "sellers" based in Eastern Europe who copy pictures and descriptions directly from legitimate online vendors. Whereas eBay has done much to eliminate such fraud, Penbid's requirements for new sellers are still unacceptably lax. Another problem is that Penbid has chosen not to charge listing or buy-in fees, leaving no incentive for sellers to make their reserves reasonable. Many items end up being relisted over and over again; at this point, nearly all of the items on offer are new.
Pen show auctions are a feature of many US shows (schedule), and are generally held on Saturday afternoons. In most cases the catalog is more of a checklist, and there is rarely any formal provision for telephone or absentee bids. Inspection is often rather chaotic, although there is usually enough time for the typical collector to inspect the lots likely to be of personal interest. Inspection is vital, since items are sold as-is (the catalog will usually attempt to describe each lot, but some flaws and defects will invariably sneak by unmentioned). It is also important to remember that most show auctions require immediate payment in cash or travelers cheques. Be prepared! There are usually good deals to be had at pen show auctions, though results can be unpredictable.
Various general auction houses have held pen sales from time to time, but few have stuck with it. Up until October 2001, quarterly sales were held by Bonhams in London, but their role as a major pen venue came to an end with the departure of their pen expert, Alexander Crum Ewing, who has since teamed up with various smaller auction houses -- most recently, Bloomsbury Auctions of London.
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