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 Replies: 14 / Views: 2,185 |
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Pillar of the Community
United States
757 Posts |
I know there are a couple of people here who live close to Buffalo. There is an auction coming up on Saturday the 29th selling off unclaimed/non payment safety deposit boxes. Supposedly some of the boxes haven't been touched since the 70's, but that seems like an attempt to drum up business. Here is a link to the 800+ lots being auctioned that day. I'll probably pop in as I saw a few lots I'm interested in. http://cashauctions.hibid.com/catal...b=0&cpage=11 |
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Bedrock of the Community
United States
17884 Posts |
The sale could be legitimate, but I usually find that the lots go for more than they are worth.
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Pillar of the Community
United States
7390 Posts |
The safety deposit box auctions I go to are not online so if you got the cash there are steals to be had if you don't mind previewing the auction with half a dozen armed government guards around you which imo adds to the experience.
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Pillar of the Community
1153 Posts |
Looks exciting, auctions are great places to pick up some neat stuff. Usually overpriced stuff, but neat none the less. The auction mentality will easy get you into a bidding war so always be careful.
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Rest in Peace
United States
17900 Posts |
You really have to know what you are doing at this type of auction. If you only spend a few minutes looking over the descriptions and then looking at the picture provided, it won't take long to see that what they say and what they show are often two different things.
Figure that whomever made up the listings probably knows the absolute minimum about what coins are silver and which are not, what is nice, and what is not. It's all up to the bidder on these kind of lots as the descriptions are often just short of misleading because of their inaccuracy.
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Moderator
 United States
188740 Posts |
To me, this is no different than gambling. I would rather focus my numismatic budget on the specific items I want.  |
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Bedrock of the Community
Canada
10743 Posts |
It would be really cool to go to something like that though.  |
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Moderator
United States
188740 Posts |
Oh, I would not mind being a spectator. |
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Bedrock of the Community
United States
20753 Posts |
They have those about once a year by me. Held in the state building lobby. Also, included is items recovered in robberies that no one claimed. In all the ones I went to, everything was sold for way more than the real value. As usual in auctions, people just get carried away.
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Bedrock of the Community
United States
94367 Posts |
 I must agree. There are many undervalued things to be found at such auctions, as well as garage sales and so-called "estate sales", but generally they are not numismatic items. |
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Pillar of the Community
 United States
757 Posts |
I enjoy auctions and with there being an online preview I'll have my max bid on hand, so as to not get caught up in a bidding war. I typically jump my bid high to shut down other bidders and stop a bidding war before it starts. As long as I stay in my parameters I never lose (to much anyways)
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Valued Member
United States
331 Posts |
that lot with the 20 proof sets imagine they are all 1936 sets OMG
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Pillar of the Community
United States
4932 Posts |
#518 makes me wonder why anyone would have a security deposit box and just put 3 90%'s in there.
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Pillar of the Community
United States
4211 Posts |
They had a HUGE one here near me last month but my coin piggy bank was empty so I didn't go. I did  at the pictures tho for sure. And the jewelry...my goodness. I'm not into jewelry but the news station was there doing a story and jewelry dealers from as far as 500 miles were at the night before 'preview' with note pads in hand. Lots of coin dealers as well. The "starting" bids were very reasonable but I'm sure the lots brought much more. I will try to go next year as a spectator. Edited by Debrajc
08/20/2015 8:11 pm
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Pillar of the Community
United States
757 Posts |
Just got home from the auction and WOW there was some serious cash being dropped. The majority of the items went for way above retail and common sense. A lot of 10 Sacagawea dollars went for $40 plus 10% buyers premium and 8.75% sales tax. This lot. http://cashauctions.hibid.com/lot/2...b=0&cpage=14 Sold for $14,000.00. I have no idea what the person though he saw in there. I looked at it and I was in the action for a minute, but the quality of all the notes kept me from going crazy bidding. Thankfully this one was at the end of the auction and the crowd and money was scarce. http://cashauctions.hibid.com/lot/2...b=0&cpage=17 I got it for $250. Not sure what's in the strap, but they are nice and crispy. I picked up 3 or 4 other small lots that I should be able to flip for a few bucks. |
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Replies: 14 / Views: 2,185 |
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Posted 08/19/2015 1:02 pm
