Superior Santa Clara Nov Auction sells 870 of 1700+lots...A success???

lloydmincy

Only HALF the lots sold, and the 30 I was watching, which were higher end...NONE SOLD. Is this considered a successful Auction? I would think NOT! But some of the reserves were WAY UNREALISTIC. Was this auction with a lot of dreamers trying to make the big buck??? Any comments? Am I missing something?

______Lloyd

wondercoin

That is very surprising, to say the least.

Wondercoin

michael

greed with regard to reserves and with some of these coins nothing to write home about

and an auction with high reserves abet any reserves is NOT an auction now i could see a reasonable wholesale starting bid........................................

michael

Elcontador

Lloyd, I don't know their material, but if you have high reserves, coupled with so-so material, these results are not surprising.

I started attending coin auctions in the 1960s. They went very fast (that I don't miss), but had virtually no reserves. If the seller thought the coin was going to hammer too low, he'd either buy it back or have a friend do a shill bid and get it back that way. Either way, if the seller or the shill buys it back, he pays a small fee & tries it again somewhere else.