LKCA - PCDA World Session #1 Result Question

rbethea

Can anyone explain this?

Mauritius 1930 5 rupees in XF-40

I know there's not a ton of world folks on this forum, but this is a completely insane result. When it came on the block I thought it was a typo.

Maxcrusha

it beat the estimate pretty good LOL !

Jim61

I take it you did not win it Robert.



Obviously with a low population of 3, there were at least 2 bidders that needed it very badly to complete a set.



I hate it when that happens when I am buying, but selling is OK.

techwriter

Well, Mauritius notes are favorites with me but not my budget. Can't explain the bid on this particular note. The estimate was a bit low in my opinion but $50,000; plus the buyer premium!! too much for me. It's truly a quandry.



Edit: Oh, I didn't bid either. wanted to but Christmas is coming.

rbethea

Yeah, the infamous "population report." This is so beyond dishonest for Joel or Lyn to write that it just completely blows my mind that they soil their own integrity like that.



I wasn't bidding on this one and these Mauritius notes anyway came up too late for me (about 2:00 am). I have both 5's for KGV and KGVI and had I been able to stay awake for the 10's I probably would have bid for both. The KGV went cheap imho. But both 10 rupee notes before Lyn had the restoration done were real dogs.



Oh well, I guess someone really wanted it - it IS a very nice note in much better condition than they usually show up.

Maxcrusha

how many of these are known?

and: this one also seemed to have a low reserve

rbethea

I have no idea, but plenty, surely over 50, and they do exist in nice grades. The foreign paper market is still largely un-slabbed - THAT'S why I have an issue with that statement. The "population report" I assume is the PMG pop report, but even if it's PCGS + PMG, it's dishonest because it makes it out like there's only three known and that's flat wrong.



Their own archives reveals 4 unique notes, only one of which was slabbed (this one). Heritage has another one in their archives. A simple google image search revealed a half dozen other serial numbers. There are 6 on eBay right now.

STLNATS

Originally posted by: rbethea

The foreign paper market is still largely un-slabbed - THAT'S why I have an issue with that statement. The "population report" I assume is the PMG pop report, but even if it's PCGS + PMG, it's dishonest because it makes it out like there's only three known and that's flat wrong.

+1.



I collect 1915-1940 Latvia in depth and see this practice all the time. In this case there's several types that were never issued but survived in high grade in large quantities (1937-40 Ls 10, 1938 Ls 25, 1935-6 Ls 20) but few have been slabbed. Using pop reports are technically accurate, I suppose, but terribly misleading and paint an incomplete, deceptive picture. But such is the world of plastic at times.

STLNATS

BTW, it appears that all 8 Latvian lots sold, but most at the start bid of 60% of low estimate. Are these actual sales or does this reflect unsold lots with correction to the data base later?

techwriter

Originally posted by: rbethea

I have no idea, but plenty, surely over 50, and they do exist in nice grades. The foreign paper market is still largely un-slabbed - THAT'S why I have an issue with that statement. The "population report" I assume is the PMG pop report, but even if it's PCGS + PMG, it's dishonest because it makes it out like there's only three known and that's flat wrong.



Their own archives reveals 4 unique notes, only one of which was slabbed (this one). Heritage has another one in their archives. A simple google image search revealed a half dozen other serial numbers. There are 6 on eBay right now.

I've always viewed the population reports with TWO grains of salt.

rbethea

Originally posted by: STLNATS
BTW, it appears that all 8 Latvian lots sold, but most at the start bid of 60% of low estimate. Are these actual sales or does this reflect unsold lots with correction to the data base later?

Yeah, I believe all those lots sold for those prices (which is without the BP of...15%?).

KT5Silver

What shocks me is NOT that one person would pay an insane amount for this note.

BUT that there was an underbidder that forced them to. I would love to know where

today's resell level is (underbidder to the underbidder)?