What is the usual reason for a coin being reauctioned?

Bayard1908 · January 3, 2011 4:22PM

I sometimes see coins that get reauctioned a few months to a year after their previous auction sale. Sometimes they even get sold by the same auction house.

What would be the most common reason for this happening: (1) Dealer who bought it wasn't able to flip it; (2) Collector who bought it didn't like it or upgraded; 3) Some Other Reason?

WTCG · January 3, 2011 6:36PM

It could be due to a variety of reasons but the most common reason is the lot did not sell in the first auction and is being relisted in the next auction, perhaps with a lower reserve price.

rlarick · January 3, 2011 6:53PM

you forgot schill bidding.

Bayard1908 · January 3, 2011 7:38PM

<< It could be due to a variety of reasons but the most common reason is the lot did not sell in the first auction and is being relisted in the next auction, perhaps with a lower reserve price. >>

I'm talking about Heritage lots that ostensibly have no reserve or bidding exceeded the reserve.

joebb21 · January 3, 2011 8:51PM

<< 

<< It could be due to a variety of reasons but the most common reason is the lot did not sell in the first auction and is being relisted in the next auction, perhaps with a lower reserve price. >>

I'm talking about Heritage lots that ostensibly have no reserve or bidding exceeded the reserve. >>

Heritage bought the lot the first time around for inventory -

DoubleEagle59 · January 3, 2011 9:57PM

I think there's mainly two reasons:

1) the coin is dealer's inventory (not privately owned)

2) it's a 'dud' in regards to its slabbed grade.

PerryHall · January 3, 2011 10:05PM

<< 

<< 

<< It could be due to a variety of reasons but the most common reason is the lot did not sell in the first auction and is being relisted in the next auction, perhaps with a lower reserve price. >>

I'm talking about Heritage lots that ostensibly have no reserve or bidding exceeded the reserve. >>

Heritage bought the lot the first time around for inventory - >>

AnkurJ · January 3, 2011 10:17PM

1. There is an issue with the coin

2. The market has changed (highly unlikely in a short period of time)

3. It never actualy sold the first time around (shill bid, reserve not met etc)

sinin1 · January 3, 2011 10:43PM

sometimes the auction house/dealer buys the lot as it went to low in their minds
and it will have a 50%+ higher reserve now until it sells

some collectors over-extend or change focus and sell a chuck of their collection - some held short periods

I do not think there is a 'usual' reason

Obiwancanoli · January 3, 2011 11:43PM

Here's an example of one reason - this Morgan has been relisted nearly a dozen times, initially as far back as last August, when it was listed as a BIN at $449 and change...

I'd found this in a forgotten Ebay list I'd created at the time, and went back to the original auction. It didn't sell, and was re-listed so many times, it made me dizzy to follow each one... it's now listed at nearly 2/3 off the original listing price...

ambro51 · January 3, 2011 11:47PM

Buyer couldnt come up with the money. Overbid.

Dog97 · January 4, 2011 1:37AM

The one Obiwancanoli linked is obvious. A common, white Morgan, listed in Aug for BIN at $449 and currently $224 reduced to $168. According to the PCGS Price Guide it's a $145 coin. Wonder what that seller is thinking!

LindeDad · January 4, 2011 1:56AM

The potted palm is thinning out it's collection.

BAJJERFAN · January 4, 2011 2:16AM

<< The one Obiwancanoli linked is obvious. A common, white Morgan, listed in Aug for BIN at $449 and currently $224 reduced to $168. According to the PCGS Price Guide it's a $145 coin. Wonder what that seller is thinking! >>

Most of that seller's stuff is overpriced.

What is the usual reason for a coin being reauctioned?

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