coin cabinet auction

[richatthecroft]

Just to add in my experience there’s no rhyme or reason at auction. 

I’ve had some ridiculous bargains, not only coins but other items too- particularly furniture and ceramics.

I have also got carried away and paid well over what I set out to pay for something I really wanted. 

I think it’s hilarious when you get two tenacious people going after the same lot. Not politically correct these days perhaps- but anybody being in a saleroom when two ladies are bidding against each other?   My observation is that it’s extremely entertaining- particularly bidding on a nice piece of jewellery!

[Sovereign]

5 minutes ago, Paul said:

i could believe the gulf of difference in prices for 69 and 70 graded coins.  Like the 2017 £5 sovereign

Is one grade really worth that many  £100s more ?

yes 

you will get way more interest buying/selling 70 graded coins 

[Seasider]

5 minutes ago, Paul said:

i could believe the gulf of difference in prices for 69 and 70 graded coins.  Like the 2017 £5 sovereign

Is one grade really worth that many  £100s more ?

Maybe it was because PCGS put the coin in heads up for the 69.😀

[Guest]

14 minutes ago, Sovereign said:

true 70 grade should hold the same value PCGS or NGC

No two coins hold the same value - why would a 70 grade be identical between them. Perhaps if the NGC coin was first it would have had the battle over it. Coins have a value in a band and values are not absolute. Price depends on a million things doesnt it?

[AndrewSL76]

Re the difference between the two 70 grade coins - there is bidding allowed in advance of the auction so surely the two/three people bidding knew what was coming up? Further, the app and online platform is very slick and shows what is upcoming...perhaps this is more about the grading company rather than the coin. If two people are collecting PCGS then it makes sense for that particular slabbed coin to do better than the NGC coin. Just my view.

In relation to the point re seller v buyer. I am a firm believer in good luck and also karma. I have sold a number of items recently for far less than I would have liked (I sold five Silver Pandas on ebay without reserve for just under 80.00) and I have also been lucky to find coins for far less than expected - for instance I found a 1997 Britannia in a tupperware box at a dealers that was a bit dirty and I asked whether it was a mistake to have it in the box. The dealer told me that it wouldn't sell for more than bullion because of the dirt. I bought it and gave it some TLC and it was in sufficient condition to sell for over 160.00 on ebay the following week - the buyer wrote to me thanking me for selling that coin........swings and roundabouts. Hence Karma - take the hits and smile because you never know what will happen tomorrow.

[Cornishfarmer]

5 hours ago, AppleZippoandMetronome said:

This was one of the coins I bought. Didn't come for these but the selling price struck me as cheap. £310 was my winning bid - 1885 Sydney Shield Sovereign. Spot yesterday for this was about £300. Is there a dealer out there doing this for the same price? I think there are some bargains to be had as long as you're careful and don't get caught up in the moment.

 

So the seller got £280 odd for this coin?     Good for buyer but can’t see any advantage of selling through them

[GoodAsGold]

2 hours ago, AndrewSL76 said:

I was lucky enough to get the 1/20th Panda for £90.00 which I thought was a cracking price. I was shocked when I put in the bid and it sold. I was prepared to go higher had further bids come in. Very happy.

So you've started adding pandas to your (ceramic) pigs? I do hope they get on well together!

[AndrewSL76]

Just now, GoodAsGold said:

So you've started adding pandas to your (ceramic) pigs? I do hope they get on well together!

Yep. If the RM starts selling Bamboo piggies, I won't be buying them!!

[GoodAsGold]

1 hour ago, Paul said:

i could believe the gulf of difference in prices for 69 and 70 graded coins.  Like the 2017 £5 sovereign

Is one grade really worth that many  £100s more ?

One was a proof quintuple and the other was the deep proof like quintuple (proof like on the reverse side, but only BU on the obverse). Different in finish as well as lower grade.

[AppleZippoandMetronome]

3 hours ago, Cornishfarmer said:

So the seller got £280 odd for this coin?     Good for buyer but can’t see any advantage of selling through them

The joy (or not) of the auction. If sellers want a more guaranteed result there are no shortage of ways to sell items with a fixed price - auctions are always a risk.

[Paul]

4 minutes ago, GoodAsGold said:

One was a proof quintuple and the other was the deep proof like quintuple (proof like on the reverse side, but only BU on the obverse). Different in finish as well as lower grade.

Ah right, i just saw the difference in price in the results when scanning through the achieved prices, i didnt realise the difference 

[GoodAsGold]

3 minutes ago, Paul said:

Ah right, i just saw the difference in price in the results when scanning through the achieved prices, i didnt realise the difference 

Speaking of differences in price, you'll be pleased to see another gold Una sell for £25.5K, compared to the original RM release price of £4K.  If you've still got your one then it'll need to sell that high to cover your rapidly increasing popcorn bill 😁

[Paul]

2 minutes ago, GoodAsGold said:

Speaking of differences in price, you'll be pleased to see another gold Una sell for £25.5K, compared to the original RM release price of £4K.  If you've still got your one then it'll need to sell that high to cover your rapidly increasing popcorn bill 😁

 Yeah, i was watching in the wings yesterday to see what it sold for, £25.5k is a happy result and not far off the previous coin cabinet auction sales of £27k

If £25k is the bench mark price for it now, im not moaning 

[GoodAsGold]

29 minutes ago, GoodAsGold said:

One was a proof quintuple and the other was the deep proof like quintuple (proof like on the reverse side, but only BU on the obverse). Different in finish as well as lower grade.

Further to my previous observation, the RM issue price of the 2017 deep proof like quintuple was £1875.  The auctioned coin had also been graded (MS69) so somebody spent extra money on the grading.  Yet despite the special design and the hike in the gold price (and RM prices) it only sold in the auction for £1750 (£125 cheaper than original price).  Somebody got a bargain there.  Winners and losers indeed.

[AppleZippoandMetronome]

11 hours ago, Numistacker said:

I think we should remember that for every buyer there is a seller and that a bargain for the buyer can be a disaster for the seller. We are all both buyers and sellers at different times. There are some canny buyers here and quite a number of greedy sellers and chancers who want to buy from the CC auction and then immediately sell for +25% to other less well informed members of our same forum who will then perhaps sell via CC and lose 30% of their money.

Is it worth selling at CC as a seller? I sold 16 of my own coins at the previous auction and i have an arrangement with CC to act as a consignment agent so i can accept consignments. So far some coins have done up to 30% better than expected and some coins have sold for almost crazy low prices that do not reflect the market in any way I can see.

My view is that seller should pick coins that are desirable and they know other collectors will want and those coins will do really well at CC. Coins that do not really do brilliantly are those non-descript average coins that move here on the forum for bullion and at the moment sovereigns with lower grades can seem to go to cheaply like the Sydney shield for £310 rather than £350 that it should have been.

I certainly understand the other side and will make clear my own post detailing what I bought wasn't gloating but rather responding to another member questioning whether its worth buying from auctions. I am still quite new to this and my own strategy given that is simple - is it worth more than I am paying for it and not valued by temporary hype. If so I'll buy it. I thought there were a lot of coins that went cheap - particularly the Australia sovereigns. I'd of bought more but the budget is what it is and I really was just after one of the Canada sovereigns. I watched the entirety of the auction mostly just to learn but I'm not one to turn down a bargain when I see it.

 

[AndrewSL76]

6 hours ago, AppleZippoandMetronome said:

I certainly understand the other side and will make clear my own post detailing what I bought wasn't gloating but rather responding to another member questioning whether its worth buying from auctions. I am still quite new to this and my own strategy given that is simple - is it worth more than I am paying for it and not valued by temporary hype. If so I'll buy it. I thought there were a lot of coins that went cheap - particularly the Australia sovereigns. I'd of bought more but the budget is what it is and I really was just after one of the Canada sovereigns. I watched the entirety of the auction mostly just to learn but I'm not one to turn down a bargain when I see it.

 

The difference that hasn’t been mentioned is that it is up to both the seller to sell and the buyer to buy. If a seller is going to sell at an auction, they have the possibility of a reserve and/or a high starting price. If there is no reserve then this is the decision of the seller, not the buyer.

[AndreasAfeldt]

On 24/02/2020 at 08:44, AppleZippoandMetronome said:

This was one of the coins I bought. Didn't come for these but the selling price struck me as cheap. £310 was my winning bid - 1885 Sydney Shield Sovereign. Spot yesterday for this was about £300. Is there a dealer out there doing this for the same price? I think there are some bargains to be had as long as you're careful and don't get caught up in the moment.

 

This was certainly a good buy, and there were many others to be had.

[AndreasAfeldt]

20 hours ago, Cornishfarmer said:

So the seller got £280 odd for this coin?     Good for buyer but can’t see any advantage of selling through them

What about lot 69 - the 1963 sovereign which sold for £1,050? And lot 28 - the 2002 £2 which sold for £1,150? Would you not have been happy with these prices as a consignor?

There were bargains and high prices mixed, some people would call this an auction!!

[AndrewSL76]

3 minutes ago, AndreasAfeldt said:

This was certainly a good buy, and there were many others to be had.

The Auction 14 was only the second time I have bought from CC. The first was, I think 11, and I bought a Charles II sixpence. I hope for more silver auctions in the future and look forward to collecting the 1.20 Panda tomorrow! 

I would highly recommend the CC. It's a safe and quick way to buy some really beautiful coins. They also have some online at the moment. I am currently viewing the 2001 and 2007 PF70 sovs which are 400 each......awesome prices...

[AndrewSL76]

Apologies, it was auction 10 - here is the beauty: https://auctions.thecoincabinet.com/lots/view/4-7BS0G/great-britain-charles-ii-1684-sixpence

[AndreasAfeldt]

23 hours ago, Numistacker said:

I think we should remember that for every buyer there is a seller and that a bargain for the buyer can be a disaster for the seller. We are all both buyers and sellers at different times. There are some canny buyers here and quite a number of greedy sellers and chancers who want to buy from the CC auction and then immediately sell for +25% to other less well informed members of our same forum who will then perhaps sell via CC and lose 30% of their money.

Is it worth selling at CC as a seller? I sold 16 of my own coins at the previous auction and i have an arrangement with CC to act as a consignment agent so i can accept consignments. So far some coins have done up to 30% better than expected and some coins have sold for almost crazy low prices that do not reflect the market in any way I can see.

My view is that seller should pick coins that are desirable and they know other collectors will want and those coins will do really well at CC. Coins that do not really do brilliantly are those non-descript average coins that move here on the forum for bullion and at the moment sovereigns with lower grades can seem to go to cheaply like the Sydney shield for £310 rather than £350 that it should have been.

This is a very good point. Picking the right coins for auction consignment is a real art. The fear of losing money, or making less in auction than it could have sold for elsewhere, can only be overcome by seeing actual results (achieved prices). The search bar in the right hand corner on https://auctions.thecoincabinet.com/ is a free price research tool for anyone to use.

In my opinion we can't tell anyone to consign to our auctions on the promise that they will come out winning, we can merely point to our achieved prices and then let the consignor work out the consignment list themselves. The longer your consignment list, the nearer the bottom line will be to the trading average.

At the end of the day it's down to specific people being there on the day, logged in and in good spirit, free from family obligations and distractions. As such, auction prices can have an intimidating variance. But turned on its head, this creates exactly the opportunity that @Numistacker highlights, which allows everyone to be both a buyer and seller. The Coin Cabinet auctions are designed to be a marketplace for both.

[AndreasAfeldt]

30 minutes ago, AndrewSL76 said:

The Auction 14 was only the second time I have bought from CC. The first was, I think 11, and I bought a Charles II sixpence. I hope for more silver auctions in the future and look forward to collecting the 1.20 Panda tomorrow! 

I would highly recommend the CC. It's a safe and quick way to buy some really beautiful coins. They also have some online at the moment. I am currently viewing the 2001 and 2007 PF70 sovs which are 400 each......awesome prices...

There will be silver coming up in the March sale, this will be a strong sale with more variation than the February sale which was very much geared towards sovereigns and much modern proof material.

[AppleZippoandMetronome]

32 minutes ago, AndrewSL76 said:

The Auction 14 was only the second time I have bought from CC. The first was, I think 11, and I bought a Charles II sixpence. I hope for more silver auctions in the future and look forward to collecting the 1.20 Panda tomorrow! 

I would highly recommend the CC. It's a safe and quick way to buy some really beautiful coins. They also have some online at the moment. I am currently viewing the 2001 and 2007 PF70 sovs which are 400 each......awesome prices...

Agree completely. I bought a couple of sovs in auction 13 and the service was fantastic - looking like it is going to be very much the same for the coins I won in auction 14. I will be a regular viewer (and hopefully bidder) of these auctions moving forward.

The prices for those graded sovs do seem very reasonable. One thing I was going to write earlier on in here was how I noticed a number of proof PF70 graded sovs sell for quite a bit less than it would cost to buy a new current year one (before sell out) from the RM. I haven't watched enough auctions to see if this is normal but if so surely it makes sense as a collector to bide your time and pick up these in auction when they come up versus ordering from the RM when they are released. Obviously that wouldn't be applicable for special year releases that command quite high prices but for average year releases it seems to me the smart thing is to just wait and pick up the perfect grade for less ££s.

[AndrewSL76]

19 minutes ago, AndreasAfeldt said:

There will be silver coming up in the March sale, this will be a strong sale with more variation than the February sale which was very much geared towards sovereigns and much modern proof material.

This is very exciting. I’m going to start saving my pennies!!!!

[greektony]

When is the March auction? The website states that there are no upcoming auctions....