Auction estimates...

coinkat

how accurate are they?

I ask because I am often amused with the estimate and the hammer price...

Michigan

<< <i>how accurate are they?

I ask because I am often amused with the estimate and the hammer price... >>




I think you answered your own question.

Russ

I don't think the auction houses even try to be accurate. Goldberg, for example, always seems to estimate low. Heritage does the $1 to $1,000,000 thing in their eBay Live auctions. Superior is all over the map.

Russ, NCNE

pontiacinf

IMHO they just do not fit into the equation

just ballpark figures, maybe put into the catalog to give those with limited funds false hope? cant see any other purpose for em

coinkat

perhaps this should have been asked differently... it seems that some coins do not get the type of estimate I would expect and I often wonder why that is...

Bear

Goldberg just values coins at the price range for an average coin.

If the coin is toned or spectacular then it might go for multables

of the listed range. Make the house look good and the consignor happy.

pontiacinf

I seriously feel there is no rhyme or reason behind the figures

period.

rec78

I think that Goldberg keeps the estimates low 1. to encourage bidders, 2. Impress the sellers(and other possible sellers) when the coins bring double or triple estimates. If the market goes sour and the coins bring around estimate then they can still save face. Bringing a lot more than estimate works in their favor.
As for Heritage-who knows their silly reasoning for the $1-$1,000,000 range system? I guess that they are never wrong in their estimates. JMHO . Bob.

coinkat

Seriously, I understand the low ball concept and the reason for doing it... but does the AUCTIONEER gain alittle credibility by having a wider and more realistic estimate? There are several interesting auctions that surround the Long Beach show and others that close in June. I have a feeling that the estimates for some of the coins I am contemplating bids on are going to be proven to be inaccurate.