A Tale of two auctions...

JCMhouston · March 17, 2013 8:30AM

So what is your opinion on these results. In the January 2012 Heritage NYINC auction a 1911 Sixpence in 67 was listed (it was and still is a pop 2/0 coin). This was one I really wanted for my 6d type set but unfortunately I was spent out, I chased is up for a while but at least two bidders kept going and it finally sold for $388 including the juice. Fast forward to March 2013 and the same coin was listed in one of the Heritage weekly auctions (with another Geo. V PCGS 65 sixpence) and I was able to get the pair for $211 including the juice.

Market weakness? Or just a poor auction?

lordmarcovan · March 17, 2013 8:55AM

Sounds pretty good, I think.

Of course I think have about a tenth that amount in barter, invested in my PCGS MS63.

Zohar · March 17, 2013 10:01AM

I think weeklys are not frequented as much and at times you can find items under the radar. On the Taler front, I am seeing no weakness, especially in European auctions.

Interesting to see what the ripple effect of Cyprus Government taxing consumer bank savings at 10%. Will the Europeans shift funds to real assets vs. paper?

Zohar

ColinCMR · March 17, 2013 10:05AM

Tough to say

Some personalities out chasing it were no longer after it?

Was there a similar number of bidders each time?

One year is not much time for the market to shift, necessarily, but it is plenty of time for a few collectors to decide on a new path or have filled the hole. Just a thought

Nonetheless, nice coins!

Pokermandude · March 17, 2013 10:10AM

Could be a bit of both. I think mostly it came down to the fact that of the two strong bidders in auction #1, one was now the seller in auction #2, and the other one didn't show up to bid the second time around

marcmoish · March 17, 2013 12:13PM

Good points above ....chaulk it up as a good opportunity gotten....don't read into it to deeply... I've seen this occur from time to time too!

P.S. Congrats on the fab newp 2/0 and all

LochNESS · March 30, 2013 8:24PM

When we can't find a deal, we get burnt out. When we find a deal, we suspect foul play. You gotta trust your gut. If you like the coin, and you believe in it, then go for it.

Now me, personally, I would not have bid on the coin due to the eye appeal factor (not my cup of tea, this 6 pence). So my point is that I can understand why, perhaps, the bidders of auction #2 were not as strong as the bidders of auction #1. It's certainly possible. I'm not saying the coin wasn't a great purchase on your part. I'm just saying it's not for everyone and this time around you were the most-interested party! So congrats, take your win, and enjoy the spoils!

SYRACUSIAN · April 3, 2013 4:42AM

It's what Zohar said. Weekly world auctions by Heritage don't have anywhere near the exposure of their big ones. I had actually seen this lot in that weekly, and would have been interested in it if the accompanying 1918 wasn't a compulsory purchase. A similar tale happened with two Geo V "brilliant" (1918-1936) farthing sets, both graded by PCGS in gem and near gem grades. One sold in NYINC for ~$860, but a few months earlier, they had auctioned another almost equally nice set, lacking only two dates, in one of their weeklys for $390. Fortunately, I was lucky enough to buy 5-6 RDs from the winner of the cheapest set ,who later put them on ebay for less than their certification cost.

I have decided to expand my wantlist to any sort of Heritage auction since. Congrats on the purchase.

coinkat · April 3, 2013 9:40AM

taxing bank accounts? What happens when there is nothing left to tax?

Sorry

I like the coin and need to look at these weekly or monthly auctions

MacCrimmon · April 3, 2013 10:01AM

Question:

<< <i>Market weakness? Or just a poor auction? >>

Answer:

Exeter College Collection euphoria!

Almost every time a superbly constructed coin collection of anything in demand, whether rarities, or condition rarities appears at auction the coins attract considerable interest from collectors either desiring a "piece of the pie", or advanced collectors who realize that certain gem+ dates/denoms. may not appear again anytime soon............and so, THEY CHARGE PALL-MALL, FULL AHEAD.

Almost without exception the commoner issues which bring record prices in a big auction will go wanting years down the road. I've seen this in the Darkside arena going back to Pittman III. JJP had a lot of Canadian that was "common", and actually not in that great condition, and yet the coins brought fairly strong prices. Fourteen years hence, I'd wager only the most judicious buys (they were raw) would come near breaking even.

A Tale of two auctions...

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