Has Territorial Gold Gone Cold ?
COALPORTER
Posts: 2,900 ✭✭
I was watching the FUN Signature Sale Friday and was surprised at how many territorial gold coins went unsold. These coins all had reserves that were too high, it appears. I wonder if the sellers set high reserves out of fear of market top ? These coins are expensive and out of my range, but I've always thought they are some of the neatest and most interesting coins ever made.
UNSOLD GOLD
UNSOLD GOLD
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Comments
No sell means they are unaffordable. That does not mean the reserves are too high. That means the owners value the coins more than everyone else.
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<< <i>If the coins are unsold, does the consigner owe the auction company any fees? >>
I wonder too.
Some of these coins were on the auction catalog cover so
it's kind of sorry when they don't sell.
gosh almighty, these high reserves not being met. heh. shocking!
<< <i>If the coins are unsold, does the consigner owe the auction company any fees? >>
Depends on the specific deal that the consignor gets, but it would not be uncommon for a consignor to get a free buyback on a coin which doesn't meet reserve (provided that the sell-through of their overall consignment meets an agreed percentage).
a direct result of RESERVES being set too high
if there ARE bidders at recent auction closing levels (within 3-6 months) and they are bidding 5-10% over last auction hammer prices, it tells me that there is no lack of interest....it tells me that the seller believes these coins are worth alot more than market will bear, and they have set the reverves too high......thus the coin does not sell.