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 Replies: 19 / Views: 3,594 |
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Pillar of the Community
Australia
4411 Posts |
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Pillar of the Community
1119 Posts |
i seen it listed before xmas, thats all I know
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Pillar of the Community
Australia
552 Posts |
Can't say I'm an expert on proclamation coins but it looks it pretty good condition
I would have thought it would attract a lot more in such condition
But I do not have expertise to say whether geniune or not
Persoanlly, if I ever were to spent money on a rare coin I would buy directly from reputable ANDA coin dealer and pay a premium...that would give me peace of mind at least
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Valued Member
Australia
191 Posts |
It is real and would sell for $15k-25k at auction. I have a feeling in real life it would be quite a bit greener and with much more porosity than it appears.
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Pillar of the Community
Australia
7096 Posts |
A feedback of 81 and a too good to be true coin. Feedback is all about electronic and radio's Work it out for yourself  Edited by trout1105
03/21/2012 08:27 am
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Valued Member
Australia
124 Posts |
This is the third time this coin has been listed. I recall the original listing was for $48K, the second listing reduced to $45K and stated that it wouldn't be reduced in price again. The original listing stated that it had been professionally restored by a well know coin dealership. Unfortunately I can't recall the name of the company. Hope this helps.  |
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Valued Member
Australia
124 Posts |
Just checked my ebay lists and this is the details of its restoration. "Professionally conserved by Noble Numismatics in 2007 this uniquely self-documenting piece has never before been offered for sale. At that time it was estimated to be worth in the region of $85-$100,000. Regrettably the market has softened for such rarities and as a result it is now offered at a much lower opening bid." |
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Pillar of the Community
 Australia
4411 Posts |
Thanks, especially in2fish. As has been said before with coins of similar rarity; why sell on ebay? |
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Valued Member
Australia
262 Posts |
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Pillar of the Community
Australia
762 Posts |
Quote:As has been said before with coins of similar rarity; why sell on ebay? I've been thinking about this myself and I think the answer lies in the fees charged by auction houses. There is the 16% "buyers premium" and the negotiated commission charged to the seller. If he can sell it for the same price on ebay he will end up with more cash in pocket. |
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Pillar of the Community
Australia
1295 Posts |
I wouldn't touch a coin like that on ebay. If the coin was real any auction house in Australia would likely sell it with zero sellers commission. The Auction Houses would be falling over themselves to get it in their catalogues. |
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Valued Member
Australia
262 Posts |
no, I disagree, auction house will charge 25% labour fees therefore some seller will list on ebay rather than sell for auction, however, that's my own opinion :) |
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Pillar of the Community
Australia
4411 Posts |
As markn has said this would be a top attraction as part of an auction and I'm sure they would wave the sellers fees just to have the publicity of such a high profile coin. ebay and paypal work out to be about 10% fees and theres no way bidding would get as high. So even if the auction houses did charge a fee it wouldnt suprise me if the price realised was actually better after fees. |
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Pillar of the Community
Australia
7096 Posts |
Quote:I wouldn't touch a coin like that on ebay. If the coin was real any auction house in Australia would likely sell it with zero sellers commission. The Auction Houses would be falling over themselves to get it in their catalogues.  with markn, this would be a major draw card to any coin auction if genuine. The commission would be waived just to be able to list it. |
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Pillar of the Community
Australia
762 Posts |
Quote:
this would be a major draw card to any coin auction if genuine. The commission would be waived just to be able to list it. I agree, but there is still the small matter of the 16.5% buyers premium. The buyers would allow for this premium when they are making their bids. I also doubt that a prospective buyer on ebay would use Paypal for a $45,000 purchase. So if he does manage to sell it on ebay he will be charged a lot less in fees than an auction house. I am just speculating here, but that is my theory on why such high value items appear on ebay. The seller is hoping for a quick sale with minimal fees. If that doesn't work they may go to the auction houses. |
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Pillar of the Community
Australia
2830 Posts |
"This uniquely self-documenting piece ..." - how is it more unique than other dumps ? Dumps are not hard to find, if you look in the right place. Looking at Noble's site, there are seven listed for their next auction (No.99, April). In recent auctions, the highest price was $35,000 - for a much higher grade than this one. There were a few under $1,000 - barely recognizable. And there were several dozen between those bookends. Auction fees: the same website mentions a seller's commission, but apparently this is negitiable, and I can't see a specific figure: "After lots have been inspected a realistic market value can be determined. Commission rates and special instructions are also finalised at this stage." But they get you in the other direction: "Successful (purchasing) bids attract a 16.5% buyer's premium (GST included)." So, if this were "a major draw card", then it would one of eight at the next auction. I can't imagine an auctioneer having so many items in a catalogue without charging commission. I checked Lawson's and Wright's websites, and they are equally coy about seller's commissions. Perhaps someone on CCF has upto-date information ? I checked an English site: sellers pay 15%; buyers 17%; both are "plus VAT". Anyway, against the big auction houses, ebay looks very good. |
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Replies: 19 / Views: 3,594 |
Posted 03/21/2012 07:30 am
