Estate Auction Finds And Funnies

You have to know the difference between an Estate Sale and an Estate Auction. Many, not all, Estate Sales are people either moving, getting rid of stuff from a deceased relative or something like that.
An Estate Auction is in many instances, not all, one of the following:
1. Someone hires an auction house to get rid of a lot of STUFF. They come in an auction things off and normally also bring in a lot of their own STUFF.
2. An Auction house buys up an entire Estate that was for sale and auctions it all off and again, the bring in a lot of their own STUFF.
In most of the above, not all, they also bring in people to bid on stuff to get the prices way up there.

I have seen clad Ike's sell for $10 each and common date Morgans o for close to $100. That is why I quit going to them.

I went to a local general auction today. One lot had 6 notes: a 1963 $5 legal tender, three 1935 $1 silver certificates, and two 1957 $1 silver certificates. There were no stars and all the silver certificates were in poor condition with rust stains, spotting, and one had tattered edges. Another lot had $7 in clad Kennedy half dollars, mostly from the 70's. They sold for $35 and $15 respectively and that does not include the 15% BP and 6.25% sales tax.

I used to go to Dave's Auction House occasionally for auctions (it's own by Dave Hester, the guy in Storage War). The last time I went, I witness common date Bu Morgan that probably worth about $40-$50/ea at the time and this one guy aggressively bid on all of them, paid about $70-$100/ea (before buyer fee), look like it was a bidding war.

Then things get interesting: One of the guy stand behind the counter bid on some other coins (he won some, lose some) and I thought he's buying for himself (he mentioned he collected coins), a while latter, when all the coins lots had been sold (the people interested in coins left the room, as other stuffs had been up for auction), one guy walk up to the guy behind counter (the employee)..... I was still standing there and the employee told this guy (turned out he's a coin dealer of some sort) that his coins was sold for such and such.... which turned out those coins that the employee "won" are bought-back by/return-to the dealer. True shill bidding..... I told my self to not go there again (at least not buying collectible/high value items, since some of the furniture stuff that made of solid wood went for pretty cheap).

So, always know/set your price limit and don't get stuck in a bidding war.

Google his name and you'll see he's suing the network..... pretty interesting.

I saw a 1943 steel cent sell for $11 at an estate auction. It was kind of disheartening because the auctioneer (who should know better) talked it up as the best thing since sliced bread and then a YN bought it.

A coin store at a mall in puerto rico had a little tray of common date low grade wheat cents also, and they were a dollar each. They had the same thing with IHC`s but they were 2.50 each. and they dated between 1900 and 1908 mostly too.