Does the sale of a great rarity cause the coin to become "illiquid" for a period of time?

Longacre

Simply stated, when a great rarity is sold, does the coin then become "unmarketable" or illiquid for a period of time? For example, recently the Brasher doubloons sold at auction. Assuming the auction process worked like it is supposed to, the price that the coins sold for were exactly what the market would bear for them, and therefore they were fully priced. Suppose the owner of the coins (Contursi and others) wanted to immedidately sell the coins (for whatever reason), I would think that the buyer would not pay the full price that the coins sold for at auction. As a result of the auction, the true fair market value of the coins is known, but I would think that an immediate sale of the coins to another party would result in the coin being sold at a discount becuase of the thin market for great rarities, and if the eventual buyer of the coin really wanted it at the auction, he would have been the winning bidder, rather than the underbidder (in other words, a later buyer would buy the coin at "his price", not at the auction price + some profit to the current owner). Do you agree?

Steve27

Do you agree?

Not necessarily, first they should sell for that same price less bidding fees. Additionally, if your premise was correct, I wouldn't have to see all the hype for "newps" on this board.

ER

The "value" of a coin is exactly what it brings in the next sale. Does that make sense?

tradedollarnut

I've seen it work both ways. Sometimes after the auction the coin is profitable - I've heard of $100,000 profit offers on certain rarities. And sometimes after the auction it's not profitable - the underbidder often moves on to something else ... which means that the coin would only sell at the value the second underbidder was willing to pay.

TheRaven

I would think that the bidder that payed X for Y coin would not likely sell Y coin for less then X immediately after buying it.

That would be terrible buisness sense. Along the lines of selling gold coins at less then bullion value, which if anybody is interested, I will buy any and all such coins.

UncleWiggly

No