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 Replies: 12 / Views: 1,522 |
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Pillar of the Community
United States
6130 Posts |
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Moderator
 United States
14463 Posts |
Interesting group of coins. If you had the money, time, and maybe a store (online or BM), you could probably sell off a portion to cover the cost.
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Pillar of the Community
United States
3644 Posts |
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Pillar of the Community
 United States
6130 Posts |
What really stumps me is how a seemingly knowledgeable dealer is trying to sell "$80k+" of coins as a single lot... on ebay. Either something is not right (counterfeits, heavily cleaned) or the seller is just plain lazy. |
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Bedrock of the Community
 United States
12813 Posts |
Seller's feedback is massive.
That lot would be great fun to go through.
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Valued Member
Sweden
135 Posts |
If the seller was patient and took their time selling it (utilizing various auction houses, and such) they could really stretch their profit. A mass lot offering seems lazy... unless the seller is the middle man and this how the client wants it done. Quick cash? I wonder what the reserve is?
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Pillar of the Community
United States
1314 Posts |
He might have his eye on something really good and just wants to raise some fast cash.
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Valued Member
United States
109 Posts |
Well at least the shipping is free.  |
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Pillar of the Community
United States
2843 Posts |
There is a reserve that is not met. I am curious to see what it is. I recognize the seller, they do lots of lots.
I wish I had $20,000 extra lying around. I would bid that right of the bat.
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Pillar of the Community
United States
4085 Posts |
As much as a lot like that makes might heart rate go up in excitement of going through it all, I don't know how you land at a reasonable price just from the pictures. It feels like you are bidding blind.
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Moderator
United States
187702 Posts |
It was worth my time just to have a look! I like it. I cannot afford it, but I still like it. It does make me want to work on my Dark Side collection.
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Rest in Peace
United States
17900 Posts |
While it may seem "wasteful" to most folks to put such a lot together and sell it all at once, rather than piecing in out, Anthony's has been doing this for many years in many collecting genres. Not just coins.
They have full time employees that do NOTHING but attend estate auctions and go directly to the seller, anywhere in the US, and buy fast and pay cash.
They turn their inventory many times each year, and with the volume they do if they are keeping a final profit of only 8-10% they make millions each year.
They are in a completely different league that most.
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Pillar of the Community
United States
6130 Posts |
The lot went a little over $11k but did not meet the reserve. Not really surprising, since that is more money than most people make in several months. Lots make sense when you have a huge volume of coins to move and shipping costs would be tough to recover. The funny thing about this lot is that most of the coins in the photos are $100-1,000 coins, and many could be even more in a TPG slab (those soverigns in particular). The collection ranges from ancients to 19th century silver and gold to 21st century NCLT. I get that their business is to flip, but it would take maybe two days to inventory all that, another day or two to price and list them individually, and $20 per coin and a few weeks to get the best ones graded and slabbed. Assume very generously that the employee is paid $30/hr to do all of this... you are looking at a little over $1k in wages plus $1-3k in grading fees to turn a $20,000 investment into $80,000. If they are running a successful business, I assume they already know this. That leads me to believe that there is something "off" with this lot, that would necessitate a wholesale sale. |
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Replies: 12 / Views: 1,522 |
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Posted 03/07/2016 11:49 pm
