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Posted 12/03/2014 12:29 pm
The "thin trading" of individual "high end items" at auctions usually has 1 of 2 very specific reasons.
One involves the sale at auction by bidding.
The other is a Pre-made deal.
I know that some coins which were not sold at some certain auctions did change hands a bit later in private deals. And in two cases, were actually "pre-sold" by the original owner to another person before the auction started or concluded. A buy price was agreed on between the 2 and if it sells above that , the two will split the difference. All were purposely priced high for the advertising and promotion they get through the auction house. illegal ? some of you might possibly suggest. NOT at all!!
if it sells, both selling "owners" make good money. if not, it is great Promo for the item and the house. A seller does not need to listen to the auctioneers advise on how to price an item. Maneuvers like this are done all over the world at auctions, however, it is more dominant in some European and SE-Asia Auctions where literally "cash is king" at auctions. The auctioneers are usually part of this "procedure" and get a cut.(yes, even and especially in "conservative" Switzerland and Lichtenstein.)
Then there is the reasonably large, but very private group of High end true collectors around the world. They use agents. This is the group the deal makers above hope will be attracted by a auctions high end stuff. They sell, trade and buy very selectively and seldom show up personally to bid at an auction, or negotiate a deal. They always buy the rarest and the best. These are the "thin sellers and buyers" with very deep pockets and a "I want it no matter the cost" attitude. Many know each other or of each other. Sometimes dealers or brokers are involved.
This is the is the group with literally unlimited funds that bids an item into the stratosphere. Usually the agent- buyers act for Owners from Russia, China, Eastern Europe countries and South east Asia.
Pacific, you (should) most likely know a few agents or actual owners. It would be a good thing.
Now, before you guys "jump" all over this post, please think about it and ask yourself questions...
There are too many to ask.. and there are few solid answers and tons of speculations.
Like: who is the new owner of item X sold for 200,000 ? etc, etc.
