Only four toned Morgans sold on Teletrade last night...

pharmer

but there were about fifty listed at the start. No interest, or reserves too high?

ziggy29

I'm guessing the latter. You have people asking $500 for common-date 63s just because of the toning.

I think seller expectations are getting just a little too high.

BigE

Same thing with the commems there last night. I actually saw a MS 67 35/34-D open at 1350. and go up to 1750 (too high, IMO), and still it did not sell?-----------------------BigE

gemtone65

Undoubtedly the reserves were far too high given the proportion of coins that did not sell. Since these lots are no longer available for viewing, I can't comment on their quality. The four that did sell don't look too bad, and certainly their prices realized are reasonable.

mhammerman

Good information! Noticing the Heritage site, I am seeing the same thing. Reserves are too high. I asked the Heritage staff after (by email) why the reserves were set so high that the coins were not selling. The response was that they were set by the seller...hummmmmm (I suspect the seller has some help here huh?). Everyone wants to go to the moon in a Chevy but these reserves are too high. I say that because they aren't selling...duh. My hope is that this doesn't drive coins back into the safe deposit boxes but my greater hope is that people would not set reserves and let the coins be worth what they are worth. If the seller can't accept the bid, just buy it back from him/her self and eat the juice, or maybe the auctioneers and seller can work something out. I like auctions so certainly looking for some input/creative thinking on this issue. Good luck out there!

RBinTex

Many Lincoln's were the same story. A particular (or peculiarity of the respective) consignor(s) setting the starting price &/or the reserve too high.

Oh to live in a world where EVERYONE had the b*lls to run NO RESERVE auctions STARTING AT A PENNY

Honestly, am I the ONLY one sick & tired of all the TOTAL WUSSES that are too afraid to run REAL auctions!!! BE A MAN FOR GOD SAKES OR MOVE ON TO A NEW BUSINESS!!!!!!

gemtone65

Auction companies inadvertently encourage excessive reserve prices by charging lower commissions on buy-backs than on actual sales. If the commission rates were more uniform, many fewer coins would go unsold.