Do you think an Auction Company should auction a slabbed under graded coin ?

STEWARTBLAYNUMIS

or have it regraded to get the highest grade?

Stewart

Russ

The auction company should do that which the consignor tells them to do.

Russ, NCNE

Dennis88

LanLord

<< <i>The auction company should do that which the consignor tells them to do. Russ, NCNE >>

I pretty much agree with Russ, however, I would hope that they would at lease recommend that a specific coin is undergraded and will get a higher bid if it were upgraded.

coinguy1

<< <i>Do you think an Auction Company should auction a slabbed under graded coin ? >>

Stewart, under-graded according to whom? The owner of the coin? One person's opinion at the auction company? Your opinion? Whose?

My experience has been that virtually any "under-graded" coin sold through a major auction house realizes a price in line with a higher grade (sometimes by more than one grade), anyway. Do you have a different opinion on that subject?

UncleJoe

I'm with coinguy1. He took the words right out of my mouth.

Joe.

davewang202

Here's a coin that looks to be "undergraded", and it brought strong money well into the next grade. That's the only explanation I can come up with why it sold for what it sold for.

Heritage auction

(The coin is a common variety)

MacCoin

The auction company should sell them the way there are graded. graders grade, auctioneers sell.

coinguy1

One other point I'd like to make (though I can't necessarily PROVE it) :

I believe that in many cases, an under-graded coin often brings MORE $ (not LESS) than it would if it were "accurately" graded or "over-graded". If a coin is obviously "under-graded", many potential bidders (especially crack-out/ up-grade artists) are much more likely to get excited about it and bid high, to try to make sure they get a good deal and make $$$$$. Often, however, they end up over-paying for that potential good deal, due to auction fever, ego, etc. And, let's not forget that the winning bidder will be at the mercy of the grading companies, to which he submits his expensive auction prizes.

If, on the other hand, a coin is "accurately" graded or "over-graded", many potential bidders have no interest in it and don't even bother to place bids. The net result is a low level of interest in and bidding for certain offerings.

This is one reason you will often see coins of the same date and grade bring widely different prices and why you will sometimes see a coin graded MS or PF 65 (for instance) realize MORE than an MS or PR66.

My comments are based on my experiences working for a major auction company (Heritage) many years ago, as a consignment coordinator, cataloger and auctioneer, as well as my experiences as a bidder in many major auctions over the years.

LAWMAN

They should auction all the undergraded coins to me. Then I'll meet with them, we can have dinner, a good bottle of wine, and I'll tell them they really shouldn't feel guilty or bad about it because -- look how good it makes ME feel.

Then I'll crack out the coins, re-submit them, and get higher grades so I can then go and sell the coins at a big fat profit.

This is America still, ain't it?

Stuart

<< <i>They should auction all the undergraded coins to me. Then I'll meet with them, we can have dinner, a good bottle of wine, and I'll tell them they really shouldn't feel guilty or bad about it because -- look how good it makes ME feel.

Then I'll crack out the coins, re-submit them, and get higher grades so I can then go and sell the coins at a big fat profit.

This is America still, ain't it? >>



Lawman: Would you then sell them for that big fat profit at auction ??

LAWMAN

Aye, there's the rub.

Bochiman

I agree with dennis88 on this one ( in agreeing with Russ and with the emoticon he used...love it :Funny

STEWARTBLAYNUMIS

Coinguy 1 - How long ago did you work for Heritage?Have you always asked so many questions?

I was presented some information about a certain coin that was consigned in a holder that one would price at less than $1,000.The auction house deceided (perhaps convincing the client) to crack the coin and resubmit it.Low and behold the coin is now valued in excess of $50,000.What do you think ?

Stewart

ColonialCoinUnion

<< <i> I was presented some information about a certain coin that was consigned in a holder that one would price at less than $1,000.The auction house deceided (perhaps convincing the client) to crack the coin and resubmit it.Low and behold the coin is now valued in excess of $50,000.What do you think ?

Stewart >>



I think thats lovely.

Steve27

"...a few inconsequential luster grazes on the cheek."

Who says it's not properly graded?

gemtone65

Coinguy 1's comments re undergraded and overgraded coins at auction definitely mirrored my personal experience at the Superior sale in Long Beach recently. I liked a spectacularly toned 1884-o, one which I debated Sunnywood about several weeks ago. However, I thought the coin was overgraded, and lost interest because I was convinced it would sell too high, i.e., more than I would be willing to pay for it. And, not only did it sell for $1000 more than my maximum valuation, but according to Sunnywood the high bidder was prepared to go amost another $1000 to secure this prize.

In contrast, I liked other coins in the sale too, which were not as nice as this 1884-o, but which also were either graded fairly, PQ for the grade, or had a shot at one grade higher. After spending so much time and effort identifying these coins and formulating a bidding strategy, I was not about to come away with many losing bids, unless the biddng levels were Koshkarian in nature. They weren't, but while I won some coins at excellent prices, there were some that I likely overpaid for in the heat of the auction. At, at least I really like those coins.

I suspect that my experience is repeated many times over, lending support to Coinguy 1's conjecture.