Anyone watching the Heritage live auction?

GMan · April 26, 2012 9:20AM

Fun to watch these. Some amazing coins. I've got a lot up later. #24029. Wish me luck!

Zohar · April 26, 2012 10:10AM

Yes some neat material indeed !

1960NYGiants · April 26, 2012 11:49AM

Lost the Canada 1890H 50c but won the 1902 50c. Done for tonight.

EVillageProwler · April 26, 2012 1:33PM

Stupid me, forgot to go after 23588 and 23589 because I was busy packing and chatting on the phone about my day tomorrow. (I'm flying to CICF in the morning.)

worldcoinguy · April 26, 2012 1:39PM

Me thinks somebody around here hauled in a whale of a coin.

Zohar · April 26, 2012 1:45PM

If my wife would know, this is what would happen

WorldTypeSet · April 26, 2012 1:48PM

Nothing for me today. But, maybe tomorrow

EVillageProwler · April 26, 2012 1:54PM

@Z - too funny! When my ex found out I spent XXX at Dirk's table at the 2009 NYINC (when we were married), she had the same annoyed reaction. OMG, I thought I'd never hear the end of it. LOL!

EVP

Ricke · April 26, 2012 3:18PM

I had a bid in on the holland 14 gulden... was already outbid though. too bad, it's a type I've wanted for a very long time

laxmaster1 · April 26, 2012 3:19PM

laxmaster1 · April 26, 2012 3:21PM

ignore my above blank post, it would help if i type something before hitting submit.......................austrian thaler prices quite strong, im worried this will carry over into the german pieces tomorrow..

DeiGratia · April 27, 2012 12:53AM

Bid on 3 Austrian Talers and Got blown out of the water.
Moon money I tell ya.

I'm going to stick to less known European Auctions where Slabs don't dictate the inflated prices

GMan · April 27, 2012 12:59AM

My coin didn't sell for as much as I'd hoped but it was still fun to see where it went and I did ok in the end. Some really great coins but I didn't bid on anything.

laxmaster1 · April 27, 2012 2:01AM

DeiGratia, is there ever an issue with international shipping, ie customs, declarations, etc...it seems by the time your done paying for euro conversion, vat, import duties, god knows what else,,,, that any savings is lost...ive obviously never bought from an overseas auction...........

Zohar · April 27, 2012 2:58AM

<< <i>DeiGratia, is there ever an issue with international shipping, ie customs, declarations, etc...it seems by the time your done paying for euro conversion, vat, import duties, god knows what else,,,, that any savings is lost...ive obviously never bought from an overseas auction........... >>

My main challenge is the difference in grading standards (cleaning as an example) and poor photography for these auctions. Ideally you have a dealer looking at the coin on your behalf.

JCMhouston · April 27, 2012 3:31AM

Watching the 11am session now, seems like some big prices, even some of the items that are in problem holders are going for serious money. A year or two ago most of these wouldn't have recieved bids at even 1/2 of problem free prices.

YQQ · April 27, 2012 3:35AM

Ok, Zohar is right...
BUT, can anyone trust a dealer?
remember, they ALL know each other and go to the same auctions, raise their arms on the same bids... and trink beer at the same bar at night...
auctioneers go to each others auctions to get what the other missed (maybe)
And ALL auctioneers have "blind bidders" set up to drive prices up.
almost all the time your mail or pre-bids have reached very close to your bid and most the time just stop one step below your max...... You are the winner... bid up by the blind bidders as the auctioneer knew your limit.
that is one major reason why some auctioneers refuse to go to live online bidding !!!
that is why I like live - online auctions... click the mouse bids, or telephone bids.

just yesterday... I submitted a bid of 950 max to AUREO in Spain...I got my coin for 900, for one step below my max...
from someone present at the auction I know:
call was 650. room 650...- 700.. person stopped..shook his head. Auctioneer kept going saying he had mail bids and stopped at 900. that is what does not make sense. If he has mail bids, WHY waist time and start at the call price
something fishyyyyyy ??????
we will never know...

Zohar · April 27, 2012 3:47AM

YQQ that is indeed troubling even beyond the quality issues. I guess electronic auction makes it easier to audit/monitor. It will get there as the world becomes more transparent.

SYRACUSIAN · April 27, 2012 4:47AM

I'm not watching the live auction, because I'm not buying or selling anything in it. However, one of the major highlights of this auction is a Greek pattern, which would have been a circulation coin, if it wasn't for WW1. Constantine the first appears on it, and since it never got approval for circulation, he's the only modern Greek monarch whose portrait does not appear on any coin.Along with the fact that he was the most popular of all Greek monarchs since 1832, these two patterns (1 and 2 drachmai), are highly sought after as type coins from a wide variety of collectors who otherwise do not collect essais or patterns.

Anyway, I was just checking out a few items that I'm tracking, with this among them, when I realized that Heritage has produced a short video on it, something I've never seen before in a Heritage (or other) auction. I can't give you a direct link for the video, but if you click on the link of this 1915 2 drachmai NGC PF64, you will find it at the bottom of the page. Everything said in it is true, apart from the fact that no example has appeared in the market for several decades. In fact, a raw pair of 1 and 2 drachmai had been sold in 2003 in an auction in Athens, for a combined total of 125000 euros back then. This 2 drs cannot be the same coin, because the 2 drs from the 2003 sale had graded PF63.

Just a bit of info, for whoever is interested in a truly super rare and historic piece.

DeiGratia · April 27, 2012 4:55AM

<< <i>
just yesterday... I submitted a bid of 950 max to AUREO in Spain...I got my coin for 900, for one step below my max...
from someone present at the auction I know:
call was 650. room 650...- 700.. person stopped..shook his head. Auctioneer kept going saying he had mail bids and stopped at 900. that is what does not make sense. If he has mail bids, WHY waist time and start at the call price
something fishyyyyyy ??????
we will never know... >>

Yes that is very troubling if found to be true.

But the way I look at it, I put my max bid at 500 and if I get it for 300, it's a cherry on top because I was willing to go to 500.
I put my max bid at the current market value and since I'm a collector, not a flipper, I don't have to worry about margins as much.
It's a miracle I win auctions at all, since I only pay Market value or below.
Reason why I got killed at Heritage Yesterday...

Zohar · April 27, 2012 5:55AM

Dimitri - one great write up will look at this a bit later.

WorldTypeSet · April 27, 2012 6:57AM

@Z - too funny! When my ex found out I spent XXX at Dirk's table at the 2009 NYINC (when we were married), she had the same annoyed reaction. OMG, I thought I'd never hear the end of it. LOL!

My wife doesn't mind when I spend XXX. It's XXXX and XXXXX that get me into trouble.

I went 1 for 3 in today's session. 2 more bids for tonight.

coinkat · April 27, 2012 8:03AM

I lost- thats life

marcmoish · April 27, 2012 8:39AM

I bid 50 bucks less than that " b;ind bidder"

and HE won a buncha lots darn it -

kidding aside - and that is a very valid issue.....whatever I want is going higher than expected.

Zohar · April 27, 2012 9:19AM

Dimitri - the lot sold for $57,500.00 (includes BP )

LINK

SYRACUSIAN · April 27, 2012 10:01AM

Zohar, thanks for your comments. IMO, due to the tragic financial situation in Greece and in Europe, the coin closed at a "bargain" price. If it were sold in 2007, I believe that it would have exceeded their high estimate ($75K). Some guy is feeling very lucky today, and evidently he spends a lot on his collection.

I wish you all the very best for tonight.

Kat, you're being very secretive, you're not telling us what you lost at, and your interests are quite varied to put it mildly, to even try to guess.

EVillageProwler · April 27, 2012 11:18AM

MrEureka says hi. He's still in his quest for greatness, and trying to share his wisdom with me.

EVP

Zohar · April 27, 2012 12:09PM

EVP - damage report please? How's the show.

EVillageProwler · April 27, 2012 2:43PM

<< <i>EVP - damage report please? How's the show. >>

Zohar - I'm not a good person to ask about the show, for several reasons...

Normally, I don't walk the floor like most people do. I target specific dealers and that's about it. Also, I seldom look around to see what the pulse of a room is. I fly in Friday morning, do my thing, and leave Saturday. I guess you can say that I normally have blinders on.

This year, I will depart in the afternoon instead of the morning. But, I'm spending that extra time with a friend acquire inventory.

As far as stuff for myself, I did see some interesting German and Austrian pieces but haven't settled on what I will end up buying. I also saw a key Anglo-Saxon penny, but it's pricey and the quality really isn't there for me.

I did win a nice 1/2T from HA. More on that next week, once the auction is finished.

However, I did hear some dealers feel a bit bored by today. I guess Saturday is busier for foot traffic, but I really wouldn't know as this would be my first time spending any real floor time on Saturday in CICF.

EVP

Anyone watching the Heritage live auction?

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