Good Rockin tonight was started by the guy who developed the huge coin auction house, Gordon Wruebel.
No connection to Heritage Auctions based in Dallas.
GRT was based in the beach area of southern Los Angeles. They lasted about 4 years, eventually warehousing unsold inventory.
GRT employed traveling buyers to obtain inventory for their tri-monthly record auctions. Most of the GRT buyers hit the big conventions like Austin, Allentown, etc. The guy they hired for the garage / psych / obscure rock area was hardly knoweledgeable, and his purchases were usually misguided. I saw him in action at the Austin record convention - he overpaid for off condition lps, 45s... Whereas the GRT soul buyer and the rockabilly / group buyers knew what they were doing.
Problem was the shill bidding, denided by the company at first, then exposed after the Elvis 45 on Sun, shill bid up to 18 grand. another problem was the huge buyer fees that were added to the winning bidder's final total. Many collectors refused to bid, learning that you were charged a buyer's premium. 15% on top of what you had to pay. You also had to pay for express shipping on all items, $500 or $5.
Auction houses are a waste ofd time for selling collectible records unless you happen to have the over-exposed group/performer rarities. The high buyer premium fees would keep most collectors away. The consignment fees would eat up your profits. And their grading is very suspect, as I have learned.
