Any reports from the Goldberg So-Called Dollar session?

SCDHunter

Anyone here attend the auction?

Bear

I attended the Part 4 of the auction to watch my Bear Collection

go on the auction block. Scuttle but of previous parts indicated

that silver type was weak. many pieces selling for low estimate

or below. As for the So Called Dollars it was interesting. There

was a large assembly of SCD under the Cosmique Collection name.

I say assembly and not a collection because the quality was poor and

the prices listed were high at the owners request. I would say that

almost 70% of the Cosmique Assembly either did not receive a bid

or did not attain the reserve. Quality SCD seemed to be going for low

estimate with a few exceptions for very rare pieces. I would have to say that

SCD and silver type are on the weak side and if the quality is not there, then

the bids will not be there. Several dealers were overheard to say that they were

not buying much, unless they had a ready customer for the coin(s). Caution is

everywhere and folks seem to be holding tight to their cash. While my collection

got a bit less then I had hoped for, the quality of the collection caused multiple

bids and all but 37 items met and in most cases exceeded reserves by a healthy

margin. Of course, expecting a softening market, I placed very conservative reserves

and I am glad that I did.


Of note is the fact that my lovely Capped Bust quarter in PCGS MS-64 did not sell. I had a reserve

that was substantially below estimates, but the bids were few and lackluster. Apparently

expensive items in the Capped Bust series have really turned soft.

Did any Forum Members bid and win any of my stuff. There were a lot of really nice , rare items

that were won at very reasonable prices. I hope that they went to good and loving homes.

keets

my opinion is based only from on-line viewing, but the overall quality of the listings seemed average at best, the "estimated prices" were generally high and not met while the starting prices tended to discourage me from bidding. i thought it was strange that with many items there was no picture of the reverse and no item was shown in the holder.

SCDHunter

Thanks for the report Bear!

A cursory look at the prices realized indicates that there were 351 SCD lots. Only 151 sold!

I was bidding via computer and had a hard time keeping up. I managed to pick up a few pieces, but nothing spectacular.

I'll have to wait to get my invoice to determine which lots I won.

AOEDAD

I bid on 4 lots ..
two Pedley Ryans & two Octagon Slugs ..
conservative bids and lost them all.

I agree that opening bids were too high.
It's just not fun biding against high opening bids and reserves ..
so I passed on this auction .. tj

Bear

The reason some of us placed reserves is that some of these SCD are

rather rare. Thus we would rather keep them, then let them go for much

less then we paid for them. In a soft and falling market, it is very difficult

to set conservative reserves when the bottom is falling away under our feet.

It is much easier to set conservative reserves in a hot and upwardly moving market.

Many SCD have rather low values and the commission that they generate is not commenserate

with the effort expended by the auction house. Pictures are time consuming and time is money.

I believe that the Goldberg's did an excallant job on showing pictures of the many SCD.


As for the speed of the auction, I was sitting there and I could not keep up. I had a number of SCDs

that I thought sold but did not meet reserve and a number of my SCDs that sold which I had as unsold.

That means that things were really going fast.

CertifiedGoldCoins

<< <i>As for the speed of the auction, I was sitting there and I could not keep up. >>

IMHO, the way coin auctions are conducted is stupid. Heritage, Goldberg, et al put too many coins into an auction, then race to get the thing over with. It's easy to get lost, and miss a bid. This costs consignors money, and the auctioneers get less money, too.

Ever watched the Barrett-Jackson classic car auctions? People need time to think, and to react. Coin auctioneers need to limit the number of coins, take time to do better photography, and set their pace better. No one has time to study a catalog the size of the Manhattan telephone book anyway.

SCDHunter

<< <i>As for the speed of the auction, I was sitting there and I could not keep up. I had a number of SCDs

that I thought sold but did not meet reserve and a number of my SCDs that sold which I had as unsold.

That means that things were really going fast. >>



I was bidding using their internet interface for the first time. I had intended on bidding on one item, but placed some test bids along the way, to ensure that the system was working.

I inadvertently won several items, but I still don't know which ones!

Unless I have missed something, there is no way to log into the Goldberg web site to confirm wins and I still haven’t received an invoice from them.

shorecoll

Bear, how about a limited time BST offering of unsold lots once you get them back.

Knowing the source may spur offers.

Bear

Sorry, all unsold lots have been sent to Wayne Herndon.

Folks missed some really nifty and rare SCDs. If you have

a want list and let Wayne know, I am sure he can work

something out.