Bowers & Morena Auction: Kingswood - comments?

DesertLizard

I previewed about 50 lots in Long Beach from this sale and found only a dozen worth bidding. When I monitored the ongoing bidding I saw many were fetching stupid money and ended up bidding on one lousy coin.

What amazed me in going back to my notes is how many impaired coins [bad hits on the cheek, rim dings, poor strikes, etc.] I avoided but they got top dollar. I am assuming many bid w/o seeing the coins because the impairments were not visible online. Some rare/scarce coins had reserves set way too high and no takers. A market top perhaps?

lava

There was some aggressive action on Larry Shapiro's morgans. Were those viewable at Long Beach? By the prices they fetched, I hope they are high end. I don't imagine anyone walked away with a lot of purchases.

PQpeace

Mine were all available at Long Beach..

The market is hot..

Usually I buy 10-20 coins at a major show,and at LB, I could only find 3 that I liked where the prices weren't WAY over sheet..

Time for breakfast
Larry

jom

I found only one gold coin to bid on and it seems I lost at the last second. And I thought I bid too much! Thank God someone outbid me.

jom

OnlyBuffalos

All of the Buffalos I bid on, except for the 1916 in MS66, did not sell because of the reserve price. The 1928-D in MS65 went for an amazing $1,610. Hard to tell why but it did not look worth that money in the photo. B & M employs reserves just like just about every other major auction house but they seemed to be particularly high on the Buffalos that did not sell.

lava

It seems to me that a lot of the bidders failed to take into account the bidder's premium. I am guilty of that myself. Demand for nice morgans in pl or dmpl clearly outweighs supply right now. I guess that is good news for the coins I own. It is not very good news for the coins I am trying to acquire, since I'm paying more.

BigD5

How can you tell if a coin didn't hit the reserve? I won one lot from that sale. I lost one other that I was praying someone would outbid me on. Braincramp kind of thing. Looked decent, placed my bid, then sat there scratching my head as to WHY I actually bid that much on the coin. Wouldn't have been the worst coin I ever won, but I would have had to keep the thing FOREVER!

lava

Hey BigD, I think an asterisk identifies whether the coin fell below the reserve. Not many did, from what I could tell. That was some crazy bidding, but I can't be too critical, becuase I was bidding on a bunch of coins.