Why were the prices at Superior's Denver sale generally weak?

Longacre · August 21, 2006 2:43AM

Does anyone know? I've read a few market reports from dealers, and in almost every one, they mention that the prices at the Superior auciton were weak. Does anyone know the reason for this? Are these the auctions that regular collectors should be focusing on, assuming you can pick out the good from the bad?

Doogy · August 21, 2006 2:45AM

'cause they had "buy it now" auctions for $100 like eBay; that tends to bring down the auction results

ziggy29 · August 21, 2006 2:45AM

Potential buyers didn't trust the absurdly low BIN prices.

ColonialCoinUnion · August 21, 2006 2:46AM

Bad timing - many dealers didn't get there in time to bid.

ER · August 21, 2006 2:47AM

They're still in business? Weren't those BIN's going-out-of-business sales?

koynekwest · August 21, 2006 2:57AM

You might qualify that statement-the FEW THAT SOLD brought weak prices.

UncleWiggly · August 21, 2006 3:00AM

My lots sold pretty well. I have always had luck selling through Superior for auctions. I don't know why.

Jerry

Coxe · August 21, 2006 3:06AM

Maybe you have quality consignments, Jerry. Perhaps, Superior isn't attracting enough great material to fetch great prices overall. I don't think truly great coins go for weak prices anywhere right now.

paulinhosong · August 21, 2006 10:21AM

Weak prices? That's news to us. You all be the judge.

superior prices realized

Our consignors didnt think so:

Superior August Denver Elite Auction Press Release

Oh, also our September 10-12, 2006 Beverly Hills Pre-Long Beach Auction is up now:

Superior September Beverly Hills Elite Auction Bidding

coingame2000 · August 21, 2006 10:29AM

My lots that sold in Superior's Denver sale realized very strong prices and a few of 'em sold for downright amazing prices. I was certainly satisfied with the results....

Mikey

Whizzard · August 21, 2006 10:37AM

<< <i>Weak prices? That's news to us. You all be the judge.

superior prices realized

Our consignors didnt think so:

Superior August Denver Elite Auction Press Release

Oh, also our September 10-12, 2006 Beverly Hills Pre-Long Beach Auction is up now:

Superior September Beverly Hills Elite Auction Bidding >>

Dear Vice President Song,

Why does your company routinely goof up its eBay auctions.

Please tell us. Inquiring minds want to know.

Sincerely, Your Former Customer

WTCG · August 21, 2006 11:51AM

Weak quality coins merit weak prices realized. This observation is consistent with every auction regardless of the company involved.

roadrunner · August 21, 2006 12:27PM

Considering that pre-sale estimates on coins are often quoted low, it is no surprise when the overall sale does "much better" than estimates. The Goldbergs were experts at this technique and no doubt passed it along with the store keys. I think the pre-auction estimate (approx $2-3K) of the MS68 Oregon that realized $60,000 or so is one example where the pre-sale estimates are folly.

I've always said, line up the consignors and their consignments after the sale and let's evaluate how they did. Let's not keep any secrets. And of course follow up with an interview as well on how they think they did.

roadrunner

Coxe · August 21, 2006 12:36PM

I think the presale estimates there are simply double the reserve in many cases, or something fairly systematic like that. PS might say something about that but I think he is outta here since folks brought up their recurrent eBay SNAFUs. Absentee bid processing is another topic there.

Why were the prices at Superior's Denver sale generally weak?

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