Auction Craziness... - Coin Community Forum

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Author	Replies: 8 / Views: 1,362
amida17 Pillar of the Community United States 4897 Posts	Posted 05/10/2011 9:04 pm So end up at this auction tonight...not planned just happened to notice it was tonight. Prices were CRAZY! The only lot I was interested in was. 1802 Drapped Bust Large Cent G4 at best Large Motto 1857 Flying Eagle VF 3 IHC's 1859 VG, and two common 1889 also VG 1909 VDB VF-EF And an 2006s Proof I'm thinking I'm in for $60 or $70. I need the Bust and VDB for my 7070....here's the fun part...the lot sold for $240!! WHAT? Am I missing something? Also they had 5 ASE proofs each sold for over $120!! Sorry for the rant.... Report this Post to the Staff

mshev Valued Member United States 312 Posts	Posted 05/10/2011 9:09 pm Well, now you know where to sell your coins! Report this Post to the Staff
amida17 Pillar of the Community United States 4897 Posts	Posted 05/10/2011 9:13 pm ^LOL. That was my first thought too...as I left empty handed. Report this Post to the Staff
acloco Pillar of the Community United States 3540 Posts	Posted 05/10/2011 11:50 pm ...and next time, bring your stuff to SELL! (so you can buy better!!) Report this Post to the Staff
omahaorange Valued Member United States 294 Posts	Posted 05/11/2011 06:05 am Same here. I went to an auction last Saturday. Prices bid through the roof. An example of how bad these bidders can be: In an effort to speed things up, the auctioneer offered a lot of 17 AU/BU Morgans (common dates) at an opening bid of $400. This worked out to about $23.52 each. I don't hoard silver, but seriously thought about pulling the trigger. I didn't, and neither did anybody else. So the auctioneer offered the lot as "choice" (you bid by the piece, and take as many as you want at the high bid, then reauction the rest in the same manner). Bidding now runs to $37.50 (each), and the winning bidder says "I'll take 'em all". Like throughout most of the auction, I just sat there scratching my head. BTW- I know I should have jumped on the $400 opening bid. But all my wife would have heard when I came home was "Honey, I just bought 17 silver dollars for $400..." The rest would have been drowned out by the screaming and slapping sounds that would have ensued. Report this Post to the Staff
Tim Stroud Pillar of the Community United States 2661 Posts	Posted 05/11/2011 07:08 am What I have seen in the last year or so is non collectors showing up to bid on coins with no idea as to what there true value is. People that 3 years ago would be yawning while myself and maybe 2 others were snatching up AU/BU common date Morgans and Peace for $10 each are now driving these same coins to $75 - $100 each. I have seen well circulated IHC's going for $8-$10, a 1938 Hindenburg valued at $6, 10% or so in silver, go well past $20 even after I told the winning bidder what the coins value was. Hand rolled wheat cents selling for $12+. Now here is the good part. These same clowns are now showing up at flea markets and reselling this stuff to even bigger idiots and turning a profit!! The elderly man who lives behind me buys large lots from other people for well below spot and resells at the flea markets for just over spot and sometimes has trouble selling. The people (buyers) seem to think that because he is priced so much lower than most others selling coin, that his must be suspect. The best part of all this is that I get to cherry pick his lots for his cost because I do things for him from time to time such as taking photos for a relic book he is writing and trimming a few trees for him. Of course he has already pulled the rare stuff and all CC's out. Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 05/11/2011 07:53 am Usually the audiences are spiked with people hired to keep the bidding going up, up, up. Report this Post to the Staff
reupman Pillar of the Community United States 597 Posts	Posted 05/11/2011 12:56 pm ya until this dies down I just wont go to any more there crazy Report this Post to the Staff
w1a9c8k5 Pillar of the Community United States 1348 Posts	Posted 05/18/2011 12:28 pm I've been to recent auctions where I was getting Seated dimes for $2.5 and Bust halves for $15. Sometimes auctions bring crazy prices but sometimes they bring a good steal! Report this Post to the Staff
	Replies: 8 / Views: 1,362

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