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The merits of High Visibility Auction Houses Re: Nutmeg Coin

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Here is a quick example of why top auctions may be the way to go on rarities; I was speaking with Mr. Bacca ("Heads and Tails" coins) today who had a $50 Territorial slug graded by NGC as AU50. The coin was shopped around for six months the highest offers were under $40K at the FUN show; so he gives it to Stacks to run at Baltimore and it hit around $55K with the auction premium. They had put it on the cover of their catalog. I'm not saying there is any magic solution to get top dollar but for high demand items major auctions are probably the way to go.

 

I wasn't going to respond in that thread so as not to 'hijack' but it is interesting you mentioned that.

 

I was viewing roblou270's Resolute Collection once again today and I noticed something which I had overlooked prior.

 

My perception of the appropriate value of a High Visibility Auction House may be somewhat clouded since I failed to look at the entire picture. One aspect that was not brought up in a recent discussion (and I failed to take notice) is the amount of financial resources an auction house such as Heritage, Stacks, etc.. must require to maintain and preserve the exhaustive records of past auction history.

 

As I said, roblou270's research (as well as that of many others to include myself) rely quite heavily upon historical auction data provided to the community for free as a generous service by the very same auction houses of whom I critique.

 

Your comment just went further to reinforce that fact and I must say that I really need to re-evaluate my perception of the associated fee structure to include this service to the Numismatic community, as well as the other areas they deal in.

 

One could possibly argue, and rightfully so, that the information provided is priceless. hm

 

I try to keep an open mind.

 

 

 

 

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For research on possible stellar results I would check results that auction companies crow about and that CDN trumpets every week for evidence that the high end market is "white hot".

 

Legend has a list of high results where they were the underbidder:

 

Here are a few of the coins we lost on:

 

5C 1914 PCGS PR67 CAC **************************************$6,642.00

25C 1905 PCGS PR66 CAC **************************************$3,760.00

50C 1831 PCGS MS65 CAC **************************************$11,162.50

2c 1866 PCGS PR66 CAMEO CAC********************************$15,275.00

20C 1875CC PCGS MS66 CAC ***********************************$51,700.00

25C 1839 PCGSMS66+ CAC *************************************$64,625.00

50C 1919 PCGS MS67 CAC **************************************$47,000.00

$1 1796 NGC AU58 *******************************************$44,650.00

$1 1892O PCGS MS64+ DMPL***********************************$30,550.00

$1 1895S PCGS MS65PL CAC **********************************$37,600.00

$1 1934 NGC MS66 CAC **************************************$37,600.00

G$1 1874 PCGS MS68 CAC *************************************$19,975.00

$5 1909 NGC PR66 CAC ***************************************$82,250.00

$10 1799 PCGS MS64 ******************************************$141,000.00

$20 1907 HR FE PCGSMS66 CAC ********************************$99,875.00

$50 PAN PAC PCGSMS64 CAC***********************************$129,250.00

http://www.legendcoin.com/cgi-bin/inventory/cms2.pl?page=market_report

 

One key is promotion, another is demand, visibility, irrational exuberance, etc..

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Auction Houses should be painted "blaze orange" for high visibility, especially in stormy markets.

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