RM Trial Pieces auction today

[Bixley]

I just had a look through the lots after receiving an email from the mint reminding me it started at 2pm. What strikes me is the bids are way over the estimates. I have been quite put off bidding for the one kilo completer.

[AndrewSL76]

At least we can see what is happening. London Coins auction is so opaque these days it is bizarre. They invest so much money into the catalogue and then don’t allow live bidding.

[FlorinCollector]

The prices on the pre-bidding right now is nuts. 24k for the quarter ounce reverse frosted qb set. 

plus 25% buyers fee  

[AndrewSL76]

18 minutes ago, FlorinCollector said:

The prices on the pre-bidding right now is nuts. 24k for the quarter ounce reverse frosted qb set. 

plus 25% buyers fee  

Collectors gunna collect.

[FlorinCollector]

@AndrewSL76 Yes that is true. The RM are milking the collector dry with these. It's just hard for me to understand when all of these coins have marks on them and they state the marks. I can kind of understand the UNA as a once in a lifetime opportunity but for a 2019 half sovereign to be over 1k. Just wow. 

Even the QB set. It struggles to sell for £5-6k. They are going to pay £30k for a set to have known issues to have a stamp on it. Nuts to me. 

[Chonemenos]

I was thinking about biding on the SOTD sovereign, it was sitting at 800 for two weeks then last night it went 1600 with one extra bit, two hours ago it was still at 16, now it is at 4200!!! one bid later!! Well I am somewhat happy to  see that the market for modern RM proofs seems to be on the up again, but definitely not biding on anything today as they are way out of my league now...

[dicker]

Some of the prices in commission seem very toppy.  I’m far from an expert in this type of coin but I would think there is a significant risk of being underwater when trying to sell!

[FlorinCollector]

2 minutes ago, dicker said:

Some of the prices in commission seem very toppy.  I’m far from an expert in this type of coin but I would think there is a significant risk of being underwater when trying to sell!

Agreed. I think you only buy this if you don't intend on selling and it is going to stay part of your collection till the end. Don't think we'll see any flipped for quick profit. 

[Chonemenos]

23 minutes ago, dicker said:

Some of the prices in commission seem very toppy.  I’m far from an expert in this type of coin but I would think there is a significant risk of being underwater when trying to sell!

It would be very interesting to watch the sovereign rarities ides of march auction as it have a die trial piece from the last auction.(Don't forget that die trial piece should be subjective to CGT as well I think)

https://auctions.sovr.co.uk/index.php?option=com_timed_auction&view=lot_detail&low_estimate=STRING&high_estimate=STRING&keyword=&exclude_keyword=&sort_by=lot_number&image_filter=0&box_filter=0&paper_filter=0&export_issue=0&arr=0&auction_id=0&list_type=list_view&lots_per_page=18&page_no=0&lot_id=753970&search_type=&year=&month=&department_id=&cat_id=&view_from=wishlist

 

Anyone watching the auction right now, seemingly Bidder 2555 is buying up all the coins and bidding very aggressivly!

Edited March 6, 2022 by Jeremyzed

[Chonemenos]

46 minutes ago, FlorinCollector said:

Agreed. I think you only buy this if you don't intend on selling and it is going to stay part of your collection till the end. Don't think we'll see any flipped for quick profit. 

I wonder how much of the toppy pricing can be attributed to bidder 2555, given the fact that he is the one seemingly bidding up everything which is a bit alarming...

Edited March 6, 2022 by Jeremyzed

[FlorinCollector]

4 minutes ago, Jeremyzed said:

I wonder how much of the toppy pricing can be contributed to bidder 2555, given the fact that he is the one seemingly bidding up everything which is a bit alarming...

Yeh all these auctions are dodgy. I personally wouldn't bid because prices are too high and you might be bidding against the RM for all you know. 

[dicker]

There are some seriously wealthy collectors around…

[Chonemenos]

13 minutes ago, FlorinCollector said:

Yeh all these auctions are dodgy. I personally wouldn't bid because prices are too high and you might be bidding against the RM for all you know. 

Yep, unless 2555 is a secret code for something else I wonder if it could be hertiage?

As the 1kg queen's beast did not sell, if RM was bidding as 2555 they will definitely bid on it to generate the impression of lots of interest even in crazy expensive coins?

Edited March 6, 2022 by Jeremyzed

[Chonemenos]

The una and lion did not sell either, and from just a rough estimate I think bidder 2555 bought at least 70% of the lots and spent well over 150k on this auction, this seems so shady to me, just saying...

[AndrewSL76]

That was an interesting hour. Not surprised the big tickets items didn’t sell. Doubt very much the Mint would risk shill bidding. 

2 minutes ago, Jeremyzed said:

The una and lion did not sell either, and from just a rough estimate I think bidder 2555 bought at least 70% of the lots and spent well over 150k on this auction, this seems so shady to me, just saying...

Why? If I had unlimited funds I would have been competing with them. I like these trial pieces. I just don’t have unlimited funds like other people. 

[marston59]

The 2oz gold Gothic Crown sold for £18k plus fees, but I did not like the auction  platform. 

Edited March 6, 2022 by marston59

[Chonemenos]

11 minutes ago, AndrewSL76 said:

That was an interesting hour. Not surprised the big tickets items didn’t sell. Doubt very much the Mint would risk shill bidding. 

Why? If I had unlimited funds I would have been competing with them. I like these trial pieces. I just don’t have unlimited funds like other people. 

Just mainly the fact 2555 bought a lot of very similar coins, like all the sovereigns in all strikes and in all sizes... It's probably just me being cynical though.

 

[AndrewSL76]

6 minutes ago, Jeremyzed said:

Just mainly the fact 2555 bought a lot of very similar coins, like all the sovereigns in all strikes and in all sizes... It's probably just me being cynical though.

 

There are a couple of people who I think would have been in for these coins today. One in particular. The paddle 2555 was likely this person. I’ve seen them bidding at other auctions with a similar approach. It also happens at art and also wine auctions that you see a single person dominate.

Also, a single person may represent a group of people who invest. This happens with equestrian auctions too.

The only surprise for me is that the Una didn’t sell. Then again, it does show that there is some restraint. 

[Chonemenos]

10 minutes ago, AndrewSL76 said:

There are a couple of people who I think would have been in for these coins today. One in particular. The paddle 2555 was likely this person. I’ve seen them bidding at other auctions with a similar approach. It also happens at art and also wine auctions that you see a single person dominate.

Also, a single person may represent a group of people who invest. This happens with equestrian auctions too.

The only surprise for me is that the Una didn’t sell. Then again, it does show that there is some restraint. 

Thanks for pointing this out, I am not that familar with auctions, so it is a great learning opportunity for me! The only other auction that I have followed closely was the only watch auctions...

[AndrewSL76]

1 minute ago, Jeremyzed said:

Thanks for pointing this out, I am not that familar with auctions, so it is a great learning opportunity for me! The only other auction that I have followed closely was the only watch auctions...

Never seen a watch auction but I did watch the clip on YouTube of the Newman Daytona selling. WOW, is all I can say……

[AndrewSL76]

2 minutes ago, AndrewSL76 said:

Never seen a watch auction but I did watch the clip on YouTube of the Newman Daytona selling. WOW, is all I can say……

Oh and thank the Lord that the person who bought that watch doesn’t collect half sovereigns. Gives me a fighting chance…..

[Chonemenos]

1 hour ago, AndrewSL76 said:

Never seen a watch auction but I did watch the clip on YouTube of the Newman Daytona selling. WOW, is all I can say……

Insane is the most fitting word for some of these watch auctions...!Things like the paul newman daytona happens quite often, just the price might not go as high as the paul newman, but the verocity of the bids and how fast the price jumps is insane. 

Actually quite funny, just like the RM, there seems to be a huge up take in interest for ultra modern watches in the past seven years or so... So some of the prices are somewhat inflated such as how this tudor black bay one of one sold for 650k CHF without premium added!!  https://www.christies.com/lot/lot-6330405?ldp_breadcrumb=back&intObjectID=6330405&from=salessummary&lid=1  But regardless of that, the watch auctions are still quite crazy.

 

The "only watch" auction I was referring to is a charity auction that takes place routinely every two years, where all the major houses donate a one of one unique watch to the auction. Some of the watches are true one off unique master pieces some are just the same watch with slightly different colourations...

It is probably the one of hottest auction in the watch world, I did not know what I was thinking when I went into the auction with 15k CHF and was hoping to get a pretty niche watch that I happen to love(I actually have a regualr verision of the same watch lol). As soon as the auction started I knew I stood no chance... Lot one, a watch I thought no one cared for went from the estimate 70k to 600k in 30 seconds and reached 800k in a minute or so.... My lot went from the estimate 10k to 130k in a minute or so.... Oh and unlike how christie normally do, they did not open the bid at half the low estimate which would be around 6k, they opened it at 50k!! Then I realised that the pandemic definitely had no effect on the wallets of the super rich... 

PS: all prices are in CHF, and I just rewatched the Paul newman auction, honestly the atomsphere there doesn't seem to be as insane as onlywatch as price moved quite slowly... Only watch had 52 lots, if someone would like to attempt what paddle 2555 did today they need about 30 million CHF, I surely hope they don't collect sovereigns... Or we would not stand a chance at all...

Edited March 6, 2022 by Jeremyzed
After thinking about it I think given the crazy prices for watches, that is probably why I have never seen a watch auction dominated by a single person hh.

[Chonemenos]

10 minutes ago, Jeremyzed said:

Insane is the most fitting word for some of these watch auctions...!Things like the paul newman daytona happens quite often, just the price might not go as high as the paul newman, but the verocity of the bids and how fast the price jumps is insane. 

Actually quite funny, just like the RM, there seems to be a huge up take in interest for ultra modern watches in the past seven years or so... So some of the prices are somewhat inflated such as how this tudor black bay one of one sold for 650k CHF without premium added!!  https://www.christies.com/lot/lot-6330405?ldp_breadcrumb=back&intObjectID=6330405&from=salessummary&lid=1  But regardless of that, the watch auctions are still quite crazy.

 

The "only watch" auction I was referring to is a charity auction that takes place routinely every two years, where all the major houses donate a one of one unique watch to the auction. Some of the watches are true one off unique master pieces some are just the same watch with slightly different colourations...

It is probably the one of hottest auction in the watch world, I did not know what I was thinking when I went into the auction with 15k CHF and was hoping to get a pretty niche watch that I happen to love(I actually have a regualr verision of the same watch lol). As soon as the auction started I knew I stood no chance... Lot one, a watch I thought no one cared for went from 70k to 800k in 20 seconds.... My lot went from 10k to 130k in 15 seconds or so.... Then I realised that the pandemic definitely had no effect on the wallets of the super rich... 

PS: all prices are in CHF, and I just rewatched the Paul newman auction, honestly the atomsphere there doesn't seem to be as insane as onlywatch as price moved quite slowly... Only watch had 52 lots, if someone would like to attempt what paddle 2555 did today they need about 30 million CHF, I surely hope they don't collect sovereigns... Or we would not stand a chance at all...

Actually found the video for the only watch auction 2021.

 

[ArgentSmith]

Same characters who have been pretending Bitcoin is in a bubble for the last 10 years... pathetic people