Holy auction underestimation, Batman!

coinpictures

Egads, what is the world coming to? I bid on 2 coins in today's teletrade auction, at what I figured were reasonable chances to win either coin.

Boy was I not even close.

1. I figured that $400 had a decent shot at winning this one. Nope. Currently at $850 with time remaining.

2. Linky Krause has this at $350 in XF, so I figured I had a good chance at $600. Ummmm... WRONG! It's at $1,650 with time still left.

I guess people really love toning... WAAAAAAAAY more than I would have thought.

newsman

Teletrade bidders exhibit some strange behavior. One day coins will sell for multiples of catalog value, and the next you can practically steal a nice coin. Go figure.

lordmarcovan

I'd say your expectations were a bit unrealistic. Those are awesome coins, especially the second one.

$400 and $600? Shoot, I'd have jumped at either of those for those prices. But I see what you mean.

I'm sure the plastic and the toning have pushed them even further.

newsman

<< <i>I'm sure the plastic and the toning have pushed them even further. >>



Teletrade seems to attract a lot of plastic buyers for world coins.

lordmarcovan

Yup.

But like you said, it's hard to predict. Steal something one time, get totally shut down the next. Y'never can tell.

Of course, I haven't used TT since about 1999 or 2000.

newsman

The bidding on those two looks like toning buyers -- probably some of the same people who pay greattoning $500 for a $50 coin on eBay.

Edited to add: I don't use TT much, but I did pick up a wonderful British 6d the other day for about half of what a retail dealer would charge for it.

Preussen

What am I missing here? I certainly don't often find the sort of bargains that coinpictures wanted here...no criticism intended; it'd be very nice, but I don't seem to find 'em. Considering the (apparent) quality of these coins, the prices don't surprise me at all. I don't think the KM XF value has much bearing on the value of coins the quality of that pair, does it? The (just finished) Kuenker auction in Germany realized VERY high prices. I doubt there were many winners using KM as a bidding guide. KM is just not a good value guide for many top quality world coins.

Let me give an example that's within my area of collecting. KM values a Prussian Thaler of 1798-A at $150 in XF and $400 in Unc. This is a joke. I recently negotiated with Spink & Son and bought a very Ch BU specimen, probably one of the finest known anywhere. I gladly paid well over 3x KM's Unc value, and it's raw . No toning either, just original satin luster

Now, if the P.O. is just able to actually deliver it... - Preussen

coinpictures

Hmm... looks like I need to find other sources of information and stop using Krause for certain areas. I didn't think my max bids were "Oh my God, that's a steal and you're silly if you expect to win!" type bids. Apparently I was wrong...

lordmarcovan

Welcome to the club. I've been in the same shoes many times.

BigAlan

I don't think either of those prices is out of line. Those are nice looking pieces.

Preussen

<< <i>I didn't think my max bids were "Oh my God, that's a steal and you're silly if you expect to win!" type bids. Apparently I was wrong... >>



coinpictures: I sure didn't mean to imply that..sorry if I came across that way . I just meant that top quality stuff has been bringing very strong prices lately, and I have found KM prices to be far below market in my collecting areas. I'll certainly take a bargain whenever I can find one. - Preussen

coinpictures

Update.

Coin 1 finished at $950 + 12% = $1,064

Coin 2 finished at $1,900 + 12% = $2,128

Sorry, but those prices boggle the mind (this mind at least)...

JZrarities

Well - I was watching those also... There were about 4 nice (Austria/Germany) Thalers on TT tonite that I would have liked to own.
They are common types (have them already in AU ICG Holders) but the TONING was stunning.
So much for the upgrades...

I'm glad I wasn't the only one who was looking at them.

Anyone HERE win them?

1jester

<< <i>The bidding on those two looks like toning buyers -- probably some of the same people who pay greattoning $500 for a $50 coin on eBay.

Edited to add: I don't use TT much, but I did pick up a wonderful British 6d the other day for about half of what a retail dealer would charge for it. >>




But in the case of these Thalers, the toning is real !!!

These Thalers are really nice, and I'm not surprised a bit by the prices realized. In European auctions, those are completely realistic prices. What surprises me is the number of steals I read about in the US of high quality European coins going for next to nothing. I suppose we're seeing the end of that trend.