When Tradedollarnut speaks...

RYK

people listen. (including Heritage)

Briefly, TDN suggested a set like the Sher 3CN should be offered whole. Today, when I received my Heritage catalogs, there was a pink insert indicating that the set would be offered whole after the lots were conditionally bid, for an opening price of the higher of $225,000 or 5% over the conditional total.

Will Tradedollarnut become Threecentnut?

Longacre

Who does this policy benefit, other than the consignor and the auction house (who, arguably, should be the ones who benefit when you get right down to it). If I understand correctly, say Coin #1 conditionally sells for $5,000. Then after all of the coins in the set are conditionally sold, someone can bid the total conditional bids of all of the coins in the set, plus 5%. Doesn't that make the person's bid on Coin #1 extremely difficult, especially if he is represented by an agent and has a budget that is much higher for the coin that he won in the conditional bid? How do you guage your bids?

RYK

Actually, TDN's motives were pure. He thought it was a great set of coins that he wanted to see stay together. Others must have agreed. There is still a good chance the coins will sell as individuals, but it least it gives an individual the option of acquiring it whole (without being run-up on all the individual coins). I have mixed feelings about who wins, who loses, and how it affects bidding..we will soon see what happens. Very exciting!