To be fair, here is the opposite side of a prior thread
U1chicago
Posts: 5,326 ✭✭✭✭✭
You might recall this thread:
https://forums.collectors.com/discussion/1079689/great-collections-has-a-strong-night-results-crush-legend-sales
Well to be fair, I ran across the opposite scenario last night at GC. A toned Morgan that had sold at Legend brought significantly less at GC.
Legend 2016...$1,880 vs GC 2022 $877.50.
https://legendauctions.hibid.com/lot/26993490/-1-1898--pcgs-ms64-pl-cac-northern-lights/
https://www.greatcollections.com/Coin/1248253/1898-Morgan-Silver-Dollar-PCGS-MS-64-PL-CAC-Toned
Was it the mention of the Northern Lights pedigree that helped back in 2016? Was it just overenthusiastic bidding that did not show up again? A coin that might be too dark? I suspect a little of each led to the result.
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Interesting!
My WAG would be that toning is not a universal taste (for instance, I don't like most toned coins, including this one), and this one, toned so unevenly, would be even more quirky as to who would be interested. If two highly-interested people with fairly deep pockets show up at the same auction, the price can go high; otherwise....
I've seen that coin in hand. It's not one I'd want in my collection, it just didn't appeal to me at all.
10-4,
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I was bidding on a coin at GC yesterday. It was lingering for weeks around $500-700. I figured it would go for $2500 or so. I was considering raising my bid, and looked again at the listing. It was already over $4k and ended up hammering well over $5k. It's a fairly common coin, but again one with nice color and green sticker. CU price guide was at $2000 with most recent trends in the $1200-1600 range.
I don't mind paying a bit of a premium for color, but some of that is already figured into the grade (it's a $300 coin a grade lower). The coin is reasonably common, but perhaps conditionally rare with nice toning. The same bidders that showed up at the last auction might not be around when it's time to sell it in the future. Too fickle for my taste.
It only takes 2 bidders to drive the price up. The winning bidder from the original auction is out of play this go-around. Could easily just be a sign of a thin market for this particular piece.
I wouldn’t draw any conclusions about Legend or GC from the auction result of one coin in one auction. This datapoint is not statistically meaningful.
In my opinion, most of the time, it's just plain old timing that affects the prices on some items. I've picked up items at 60% of the going rate when auctions ended at a time when other events were happening. Maybe it was not hyped enough. With more and more auctions going on, sometimes people have to decide on an item and they can't bid on both. There are many other factors that could have effected the outcome.
Edited to add: Another personal example. In the last week, I paid $100 more for an item from a website because the photos from the auction house where not to my liking. Photos will also effect the outcome, especially if we are talking the color of toning.
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I think that particular coin would not have broad appeal. First seller was lucky. (So was the second IMO.)
Not a coin I would bid on.... Tarnish, for me, is a disqualifier. If I wanted colorful tarnish, I would do it myself... a lot cheaper.
Cheers, RickO
The way I read the photos (from both sources), suggested that the coin was too dark. That is what prevented me from bidding high (I did place a bid but it was several away from the top). I'm glad I stopped where I did based on your review.
I agree with those saying that timing is important and one bidder not showing up makes a big difference.
The coin has some eye appeal but it's not the universally liked type of toning, so that was another big factor.
I think it best to get to know someone who works at each auction house with which you do fair amount of business. Said person can actually see the coin and tell you his / her thoughts about it. 80% + of the coins in which I expressed interest over time, I was told to pass, and told why, and we had a brief discussion about said coin. The other good thing about this is that said person gets to know what you like. You may be able to pick up some nice coins this way; I have.
"Seu cabra da peste,
"Sou Mangueira......."
Did Legend have in-hand viewing available? Neither auction house has nice photos of the coin, but being so dark, this is a coin that either doesn't have amazing color (which would justify a huge premium) or has much brighter color which doesn't show in the photos. The GC photo gives me an idea of what could be there, but doesn't tell me if it's really nice or not. The Legend photo makes the coin look ugly, but someone saw it in hand or had a relationship with Legend and could talk about the coin with them, that could make the photo much less important.
I'm reminded of this coin I own. I don't know if my coin is brighter/more vibrant than the piece in question (and the type of toning, date, etc. is irrelevant here). I think my photo conveys the vibrancy of the surfaces and color. Lighting the fields to show their reflectivity could also be done, but I took the photo 13 years ago, so oh well... I thought I had a second photo when I first went looking for this, but I guess I don't. Point is, if the coin has bright color, a photo should be taken to show it.
It's all about the quality of the photos.
I actually don't think that played much of a role here as neither auction house had great photos on this coin (GC was likely more realistic for the slab shot and had a better closeup while Legend had a somewhat more vivid photo but no slab shot).
All that it would have taken is me to start bidding on it, and it would have hit $2k!
Clickbait thread title
Do you ever have anything constructive to say?
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That was constructive; you just didn't understand it.
And if your question were serious you would already know that the answer contradicts you.
https://forums.collectors.com/profile/comments/MS66
I totally understand your comment; it adds nothing and you seem to take issue with many peoples' thread titles and comment on them often. I also totally understand you are a troll. Enjoy your trolling,
Chopmarked Trade Dollar Registry Set --- US Gold Showcase