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 Replies: 10 / Views: 3,256 |
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Pillar of the Community
Canada
1554 Posts |
 WOW, did ya see the beauties for sale at the last Torex show/ auction. Anyone make any interesting buys? Mine were: >I.C.C.S., 1910, AU-55, Edwardian Leaves, half dollar. >I.C.C.S., 1909, MS-60, , Broad Leaves, dime. >I.C.C.S., 1870, MS-62, Raised Border, nickel. I felt like a kid in a candy store!  Glenn
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Valued Member
Canada
207 Posts |
Congrats. They are very nice. are you sure you bought the 1910 50 cents it said no sale? I bought few items two of them I paid 100%+ more then the estimated value. I hope I am right?
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Pillar of the Community
Canada
1248 Posts |
hello Glenn...
must be nice to be rich....
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Pillar of the Community
Canada
1248 Posts |
does anyone have the website with the results of the auction?
HHB
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Valued Member
United States
324 Posts |
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Valued Member
Canada
166 Posts |
Hello,
The parts of it that I followed (1950's and 1960's PL material and silver dollars) were a disaster with most lots unsold. I bet you got some real buys (congrats). Was the poor auction due to a market downturn or the reputation of the auctioneer who is new to the Torex (but not new to Canadian collectors)?
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Pillar of the Community
Canada
1248 Posts |
Steve, I think you hit the nail on the head. Personally I think the "new" guys are trying hard to build a reputation....  A huge lot of coins were NOT sold.... One needs to honestly wonder WHY ?........ There are only TWO possibilities in my mind..... 1 call price was much to high..  priced way out of the every days collectors reach!! 70% or so was MS64 and higher.... much higher.... and the coins were not offered the opportunity to be "auctioned". I.e. start lower and see where it goes.. Is that not how a market is made ?  Maybe they are trying to compete with Heritage.....?.  2 a lot of possible buyers are on summer holidays......, but only maybe... It appears Glenn got a heck of a deal...good for him HHB |
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Pillar of the Community
Canada
1051 Posts |
Possibility 3 - nobody wants to spend a lot right now, or nobody has a lot to spend.
Looking through the auction results is BRUTAL. The opening bids were generally reasonable,
people apparently just weren't buying. The MS-63 1913 broad leaves didn't sell, so if anyone
wants to buy it for me, just let me know ;o)
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Pillar of the Community
 Canada
1554 Posts |
Market conditions always govern the price, regardless of how rare or expensive a coin is. I personally find several factors played into the poor sales and prices realized at the June Torex. These being primarily the time of year when collectors are vacationing, The Recession we are in, add to the cost of the coin is the 15-20% premiums/tax and shipping costs. This brings up the total cost of the coin between 60-75 % of trends. When you look at E-bay sales, most coins sell for less than $100.00 leaving a Torex Auction to a very small margin of collectors since the majority of coins are over the $100.00 mark. Perhaps this may account for the poor sale and low prices acquired. Just goes to show that this is NOT a good time in history to sell high end items at an auction. Great time to buy though  . Glenn Edited by glenzy1
07/04/2009 06:18 am
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Valued Member
Canada
166 Posts |
Hello HHB,
The "new guys" are not new at all. They used to be called C&P for many years but changed their name last year. People up here have VERY strong opinions that I have heard about them, both positive and negative. The couple of coins that I have bought from them have been premium material at super premium prices. I was very surprised that Torex got them when Michael Walsh retired. There have apparently been some real ethics questions that I have been told around about them in the past. I wonder how much that impacted the auction.
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Pillar of the Community
Canada
1051 Posts |
Very true Steve. I have no doubt they are doing a good job now, but for some of
us, what's in the past is hard to let go of.
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Replies: 10 / Views: 3,256 |
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Posted 07/01/2009 7:07 pm
