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Some Bold Attempts At Flipping Eastern Issues This Week

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Kamnaskires's Avatar
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 Posted 03/25/2017  11:27 pm Show Profile   Bookmark this topic Add Kamnaskires to your friends list Get a Link to this Message Number of Subscribers
I pass no judgment here...just pointing out an interesting example of capitalism at work:

March 21st, an Elymaean won at auction for $130:
http://www.coinarchives.com/a/lotvi...48f5e5a60cfb

Less than 100 hours later, the winner (an interestingly named ebay seller) lists it for $1,850:
http://www.ebay.com/itm/Kamnaskires...AOSwTM5Y1xhx

Same buyer/seller: a Vardanes tet won at auction, also on March 21st, this one for $70:
https://www.spink.com/lot-descripti...id=331000073

Listed less than 100 hours later at almost 19X at $1,300:
http://www.ebay.com/itm/VARDANES-I-...AOSwB-1Y1xPQ

Gotta admire the boldness.
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echizento's Avatar
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 Posted 03/26/2017  02:07 am  Show Profile   Bookmark this reply Add echizento to your friends list Get a Link to this Reply
That's pretty bold for the second seller to list the coin so soon after it sold for much less at another sale. I would think that anyone after these coins would have already been aware of the other sales. I can't see how they would be willing to pay the marked up price. Bob, what would these coins normally sell for?
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Spence's Avatar
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 Posted 03/26/2017  07:53 am  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
Maybe Pearson has become a numismatist since leaving Valeant Pharmaceuticals? It is his business model...
"If you climb a good tree, you get a push."
-----Ghanaian proverb

"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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josephrg's Avatar
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 Posted 03/26/2017  09:41 am  Show Profile   Bookmark this reply Add josephrg to your friends list Get a Link to this Reply
I bet if your best offer is 10% or more of the asking price he will accept it .I have bought from this seller and would never pay top price.I believe he was asking $700.00 for a coin and I bought for $80.00.
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Kamnaskires's Avatar
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 Posted 03/26/2017  09:50 am  Show Profile   Bookmark this reply Add Kamnaskires to your friends list Get a Link to this Reply

Quote:
...what would these coins normally sell for?


The Elymaean coin, which is a billon tetradrachm that features jugate busts of Kamnaskires III and Queen Anzaze is probably worth what he/she paid for it ($130) in the Spink auction. It would be worth considerably more if it were in better shape and of better metal. I eyed the coin in the auction since I've been on the hunt for one of these issues, but it was in such poor condition I passed.

The Vardanes I, given its condition, is worth about $150 - $175. He/she actually got a pretty good deal by winning it for $70 at auction. But to sell it at a 19X mark-up...ouch. I guess you could argue it's worth whatever someone will pay for it.

The same ebay seller has a Vardanes II tet - these are generally more valuable than Vardanes I's - that was won in CNG 75 as lot 598 for $420 and is now listed on ebay for $2,750. LOL.

In addition he/she is selling some fairly common drachms from Elymais - on average worth about $25 - for about five or six times what they are worth. Not the mark-up of the ones I wrote about above, but still enough to leave me wide-eyed.

I'd be curious to get anyone's take on this one:
http://www.ebay.com/itm/Greek-Kingd...AOxy-WxTBGvR

He/she correctly lists it as an Orodes II drachm from Elymais. It is listed as unique, and reduced from its original price of $987.89 (!) to $266.73. Supposedly what makes it unique is that the anchor (a standard feature of these drachms), is "below star in crescent" - in other words appearing at about 1:00.

I see no anchor in that location. It is unusual to not see an anchor to the right of the bust for one of these, but this coin may just have an unusually tight flan. Personally I would have listed the coin as a Van't Haaff 13.1 variant, with anchor either cropped off or omitted by the die engraver, and listed it with a slight mark-up from its typical $25/30 to perhaps $50.
Edited by Kamnaskires
03/26/2017 09:53 am
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Kamnaskires's Avatar
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 Posted 03/26/2017  09:52 am  Show Profile   Bookmark this reply Add Kamnaskires to your friends list Get a Link to this Reply

Quote:
I believe he was asking $700.00 for a coin and I bought for $80.00.


Wow! That's quite a price reduction. Personally I prefer no games. No smoke and mirrors.
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lrbguy's Avatar
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 Posted 03/26/2017  11:49 am  Show Profile   Bookmark this reply Add lrbguy to your friends list Get a Link to this Reply
He has been playing the "whatever the market will bear" game for years with lower grade material at high marked prices (the opposite of his company name). I usually pay him no heed, but had occasion just a couple of days ago to buy from him. Here are the stats:
(from the lot description)
Was: US $250.00
You save: $182.50 (73% off)
Sold for: US $67.50

That last price was not the selling price, it was the advertised price.
The selling price was $45 (my offer).

That is his game. It was that way already in the late nineties.
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echizento's Avatar
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 Posted 03/26/2017  2:41 pm  Show Profile   Bookmark this reply Add echizento to your friends list Get a Link to this Reply
I bought one similar for under $20. There are some listed on syssetcoin on ebay right now for $14.
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tenbobbit's Avatar
United Kingdom
701 Posts
 Posted 03/27/2017  2:37 pm  Show Profile   Bookmark this reply Add tenbobbit to your friends list Get a Link to this Reply
Just received an E-Mail from ebay informing me of the fantastical reduction in price of the 2 original coins that you posted Bob.
http://www.ebay.co.uk/itm/232283202...l_noapp=true
http://www.ebay.co.uk/itm/322463543...l_noapp=true
Edited by tenbobbit
03/27/2017 2:41 pm
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Kamnaskires's Avatar
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 Posted 03/27/2017  9:27 pm  Show Profile   Bookmark this reply Add Kamnaskires to your friends list Get a Link to this Reply

Quote:
the fantastical reduction


LOL. 73% reduction just two or so days after listing. Well, just one more big reduction to go and then they may be listed at what they're actually worth. Wow. I guess he's fishing for newbies or hoping someone will haggle.
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