Time to bring back the Apostrophe Auctions?

MrEureka

In 1979-91, Stack’s, Rarcoa, Paramount and Superior each offered exactly 500 coins in a 2 day event immediately preceding ANA. They drew big crowds, the auctions did very well, and it was a lot of fun. If S-B and Heritage did something similar at this year’s ANA - let’s say 1000 lots each on the weekend preceding the show - would it be an improvement over the current arrangement?

MFeld

I loved the “Apostrophe” sales.
At the time of the first one in 1979, I’d recently graduated from law school, had already accepted an offer to go to work for Steve Ivy Rare Coins and was in the midst of taking my bar exam (as I wanted to obtain my law degree even though I’d decided not to practice law).

If my memory is functioning properly, my brother and I were bidding on some 1829 Proof coins from a set that was included in the session offered by Paramount. I remember being in a hurry to call my brother as soon as I’d finished one of the bar exam sessions to see if any of our bids were successful.
Alas, they were not 😕but at least I passed my bar exam. 😊

oldabeintx

The logistics involved in conducting an auction offsite, with viewing, must be daunting, compared to the alternative. I also enjoyed in-person auctions, but alas…

lilolme

@MrEureka said:
... - let’s say 1000 lots each on the weekend preceding the show - would it be an improvement over the current arrangement?

.
The ANA is, in my opinion, too long of a show (Tuesday to Saturday). If someone wants to lot view before bidding, then an auction the preceding weekend would make the lot viewing difficult. Requiring getting to the ANA the prior weekend or finding some time to travel to the auction company headquarters prior to the auction.

tradedollarnut

the catalogs were definitelyincluded in my go to research list when I was actively building the greatest sets

AngryTurtle

I have heard of them, but it was slightly before my coin collecting era. As TDN, I think i have a couple of the catalogs for research. How are they different than todays signature sales, for instance?

MFeld

@AngryTurtle said:
I have heard of them, but it was slightly before my coin collecting era. As TDN, I think i have a couple of the catalogs for research. How are they different than todays signature sales, for instance?

To me, the most significant difference was that because each of the four auction companies was auctioning only 500 lots, in general, the offerings were focused on rarer, more valuable coins.

tonedcoinlover

I would love to go back to in person auctions. Many of the "old time" auctions were not attached to coin shows but were a stand alone event in them selves. There was something quite special about going to an auction in person after doing the lot viewing in a more relaxed environment then going to dinner with fellow attendees to discuss thoughts, opinions, etc. Everyone was well dressed as this was a major numismatic event held in a nice venue with no distractions. Natural "mini bourse" activities would arise afterwards as purchases were made and talked about that would lead to additional buy/sell activity. These venues were much more dignified that the way it is being done today. Remember those days?

MrEureka

@tonedcoinlover said:
I would love to go back to in person auctions. Many of the "old time" auctions were not attached to coin shows but were a stand alone event in them selves. There was something quite special about going to an auction in person after doing the lot viewing in a more relaxed environment then going to dinner with fellow attendees to discuss thoughts, opinions, etc. Everyone was well dressed as this was a major numismatic event held in a nice venue with no distractions. Natural "mini bourse" activities would arise afterwards as purchases were made and talked about that would lead to additional buy/sell activity. These venues were much more dignified that the way it is being done today. Remember those days?

Dang! How old are you???

numis1652

All sorts of expenses are involved in holding live auctions connected with shows. Not the least of is holding a dinner or buffet in conjunction with a live auction connected with a show. Aside from all the freeloaders who have no intention of bidding, there is the cost of the food and service. I was once
reliably informed that just a can of soda was charged $3.75 to the auction firm which is why just coffee and tea is available at lot viewing.

With respect to the 2” thick Apostrophe sales catalogue, all of which I attended 1979-81. Descriptive and historical narratives such as are now appreciably offered in StackBowers catalogues, just cannot be included in the Apostrophe sales catalogues due to volume. Sadly, the first old catalogues I had to discard out of a voluminous catalogue library were my thick Apostrophe catalogues which not only took up much room but are next to useless as pedigree or historical resources.

The only real loss in not having live attending auctions anymore is the loss of determining who your competing bidders are and determining just how “ deep “ the competition was and how strong the market is ? Are there multiple strong underbidders or just one determined and possibly crazy underbidder or successful bidder or a suspicious “ book bid “ .

tonedcoinlover

@MrEureka said:

@tonedcoinlover said:
I would love to go back to in person auctions. Many of the "old time" auctions were not attached to coin shows but were a stand alone event in them selves. There was something quite special about going to an auction in person after doing the lot viewing in a more relaxed environment then going to dinner with fellow attendees to discuss thoughts, opinions, etc. Everyone was well dressed as this was a major numismatic event held in a nice venue with no distractions. Natural "mini bourse" activities would arise afterwards as purchases were made and talked about that would lead to additional buy/sell activity. These venues were much more dignified that the way it is being done today. Remember those days?

Dang! How old are you???

Andy - Your are a great young man with taste. Let's just say that we both remember when auctions were an "event". In answer to your question how does 92 sound?

lermish

@tonedcoinlover said:

@MrEureka said:

@tonedcoinlover said:
I would love to go back to in person auctions. Many of the "old time" auctions were not attached to coin shows but were a stand alone event in them selves. There was something quite special about going to an auction in person after doing the lot viewing in a more relaxed environment then going to dinner with fellow attendees to discuss thoughts, opinions, etc. Everyone was well dressed as this was a major numismatic event held in a nice venue with no distractions. Natural "mini bourse" activities would arise afterwards as purchases were made and talked about that would lead to additional buy/sell activity. These venues were much more dignified that the way it is being done today. Remember those days?

Dang! How old are you???

Andy - Your are a great young man with taste. Let's just say that we both remember when auctions were an "event". In answer to your question how does 92 sound?

Not bad.

But potential rough times ahead...

Mitchell

I miss these auctions. They all were fun and featured many interesting and scarce items.

I participated in the '89 auction and got blown out of the water. Regretfully, I've lost the '90 and '91 catalogs.

alaura22

Just another reminded of me losing all of my red books, blue books and auction catalogues with all my notes when I moved. Somehow they all got tossed

retirednow

@tonedcoinlover said:

@MrEureka said:

@tonedcoinlover said:
I would love to go back to in person auctions. Many of the "old time" auctions were not attached to coin shows but were a stand alone event in them selves. There was something quite special about going to an auction in person after doing the lot viewing in a more relaxed environment then going to dinner with fellow attendees to discuss thoughts, opinions, etc. Everyone was well dressed as this was a major numismatic event held in a nice venue with no distractions. Natural "mini bourse" activities would arise afterwards as purchases were made and talked about that would lead to additional buy/sell activity. These venues were much more dignified that the way it is being done today. Remember those days?

Dang! How old are you???

Andy - Your are a great young man with taste. Let's just say that we both remember when auctions were an "event". In answer to your question how does 92 sound?

I love it ...92 and you are still posting in a coin blog.