Treasure Fever! Sedwick's Treasure Auction #3 Hits $800,000

Treasure Fever! Sedwick's Treasure Auction #3 hits $800,000

Winter Park, FL Treasure Fever has struck again! Expert numismatist and auctioneer of shipwreck coins and artifacts Daniel Frank Sedwick has released the results of his Treasure Auction #3. This mail-bid auction surpassed predictions by grossing over $800,000 ($700,000 + 15%), with an unprecedented 92%+ of the lots sold. Consignments for Sedwick's next auction (Treasure Auction #4) in the fall of 2008 are already pouring in.

One of the top highlights of the sale was a rare mariner's astrolabe that sold for $28,750.00 (with buyer's premium). Other major highlights include a Lima, Peru, cob 8 escudos of 1703 that sold for $17,250 and a Cartagena, Colombia, cob 2 escudos of 1622 (the first gold coin struck in the New World) that sold for $23,000 (both prices with buyer's premium).

The entire offering of Spanish colonial gold cobs in this auction (mainly from the 1715 Fleet) hit close to a quarter million dollars, one of the biggest auction sales of treasure gold cobs offered in the last several decades. This marks a trend in gold-cob prices. "The market had a very positive reaction. collectors are increasingly eager for choice gold cobs and we can provide the best selection at competitive prices," says Sedwick, who also pointed out that a similar offering will appear in his next auction in the fall.

A big surprise for collectors was an offering of ca.-1528 shipwreck silver "tumbaga" bars, which before this auction had an average price among collectors of about $3,000 each, yet the 14 bars on offer averaged over $7,000 each (including commission), with one specimen exceeding $10,000. This reflects a new appreciation for these artifacts.




As always, shipwreck silver coins comprised the bulk of the sale, representing over 40 different wreck sources. "The variety and quality we are delivering to the treasure community has been well received. We hope to continue to see the bidding participation of collectors from other areas, like we have already seen from US coin collectors now interested in treasure coins," says Sedwick.

Among the rest of the coin offerings in the auction was a substantial collection of Spanish colonial milled 8 reales of all different types and most of the mints, including some scarce Mexican War for Independence issues. Augmenting this collection were several consignments of silver cobs from the various colonial mints.

Treasure Auction #3 also featured about 233 lots of artifacts, most of which fetched high prices too. One of the best examples of the artifacts' passionate bidding activity was a gold cross from the 1715 Fleet that sold for $19,550, as well as a gold "money" chain that hit $16,100 (both pieces including buyer's premium). "Treasure artifacts like these simply aren't available at auction on a regular basis anywhere else," Sedwick points out.

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