Beverly Hills Pricing?

sellitstore

$400 start for a cleaned XF Lincoln, yet a $1200 start for a slabbed BU Saint in the same auction? I think that I know which will sell.
https://liveauctioneers.com/item/120130933_1945-no-mint-mark-wheat-penny-rare
https://liveauctioneers.com/item/120130900_1928-20-saint-gaudens-gold-double-eagle-coin-ngc-ms62

jmlanzaf

It's actually logical. You effectively have a reserve on a coin that you need $400 on but you can't trust it to find that level. The Saint you could start at $1 because you trust it to get to fair market value.

sellitstore

I was wrong. Neither sold. Reserve must have been too high on the Saint even though the starting price was low enough to sell it.

The only part of that which isn't logical to me is why would anyone put a reserve of $400 on a cleaned XF Lincoln Cent? Don't you think that there might be a bit of simple ignorance involved? That price is at least $399.50 too high for that coin.

bigjpst

Consignor typically sets the reserve. Maybe they are a new member here. Anyone recognize that cent?

291fifth

When it comes to online auctions nothing surprises me.

Cougar1978

Auctions have been horrible lately so you really can’t trust anything. My days of trusting over.

jmlanzaf

@sellitstore said:
I was wrong. Neither sold. Reserve must have been too high on the Saint even though the starting price was low enough to sell it.

The only part of that which isn't logical to me is why would anyone put a reserve of $400 on a cleaned XF Lincoln Cent? Don't you think that there might be a bit of simple ignorance involved? That price is at least $399.50 too high for that coin.

Having looked at the auction, you are right, it is likely ignorance in the case of the Lincoln cent. You see the "missing mintmark" on Etsy and Ebay all the time.