1918 Sovereign - Auction listing. Described as "Mis-struck"

[LawrenceChard]

1 hour ago, Roy said:

Guilty!

Proof read, old boy 😎

Can I get you to proof read my e-mails before I send them out?

Thanks for spotting it, and letting me know.

Looks like I'm due some correctional training.

I sent a corrrected e-mail.

😎

[Sharron]

Colour doesn't look right..that's my partners opinion..and he has alot of genuine sovs including 1918's

S

[Roy]

19 minutes ago, LawrenceChard said:

Can I get you to proof read my e-mails before I send them out?

Would I have to sign a non-disclosure agreement? 😇

No, of course not. I'm sure you're quite capable of checking and correcting them yourself! 😃

Less haste maybe? 

😎

 

 

[Roy]

4 hours ago, LawrenceChard said:

I sent a corrrected e-mail.

🙄

[gazer]

On 04/04/2022 at 21:20, LawrenceChard said:

I grabbed a screenshot of the auction listing:

As we can see, it is lot 690a, by Potteries Auctions, of Stoke-On-Trent, Staffordshire.

Two Day Online Auction of 20th Century Pottery, Furniture, Jewellery & Hifi Equipment. Day 1: Lots 1-750 Day 2: Lots 751-1301
Two Day Online Auction of 20th Century Pottery, Furniture, Jewellery Chess Pieces & Hifi Equipment. Day 1: Lots 1-750 Day 2: Lots 751-1301
08 - 09 Apr 2022 10:00 BST (2 day sale)
Potteries Auctions room
Stoke-On-Trent, Staffordshire

I took a quick look at their "Additional fees apply" link:

"Additional Fees:

Commissions*:    29.94% Inc.VAT/sales tax

*Includes buyer's premium and online commission. For more information please read the auctioneer's T&Cs."

Important Information
*IMPORTANT INFORMATION - COVID 19* - The auction will be online with limited in person bidding by appointment only. 

We are now able to offer viewing by appointment only.

Packing and posting service available. Collections strictly by appointment only and must be pre-paid. Please visit our website for further information. Thank you. 

Buyer's Premium 20% + VAT

Lots purchased online with the-saleroom.com will attract an additional charge for this service in the sum of 4.95% of the hammer price plus VAT at the rate imposed

Payment is accepted by Bank Transfer, Cheque (with seven working days clearance). Credit Card or Debit Card (under £250) & cash.

Please note: We do not accept credit or debit card payments for Customer Not Present Transactions. If you are not able to pay in person at our cash office then please arrange to pay via direct bank transfer prior to goods being collected or dispatched. This also applies to buyers purchasing goods via the.saleroom.com or easyliveauction.com.

We will take payment for items purchased if you have not contacted us within 7 days after the sale to arrange an alternative payment method.

Please note Artist Resale Rights (ARR) may apply when purchasing certain artwork

Shipping:
We provide an in-house packing and postage service. Our UK charges are as follows:

Upto 2kg inclusive of VAT and Packing £18.00
Over 2kg inclusive of VAT and Packing £35.00

We offer insurance at a cost of 5% of the goods value. Items will not be covered for loss or damage without insurance.

*Please be aware that the charges above are only a guide and lots with multiple items requiring a lengthy packing time may be subject to a higher charge.

Please note a charge of 3 % plus VAT is added to credit card payments. 

c.  Sellers commission rate is 16% + VAT on lots sold with a hammer price of over £101. Lots sold for £100 or less are charged at 25% + VAT. There is also a lot fee of £3 per lot.

It makes me wonder how and why this auction manages to stay in business, apart from the fact it make huge profit margins with its fees, commissions and other charges. What I really don't understand is why anyone ever uses it to sell anything, or why anyone buys from it.

Let's assume someone was stupid enough to pay the intrinsic value of a genuine sovereign (£346), they would need to deduct enough from their bid, divide by 1.3, to leave £266. If they paid by credit card, and wanted the item posting insured, this would cost another £18 + 8% of the sale price (about £46), so £220.

The seller would be paying 16% + VAT = 19.2% commission, so would receive less than £185!

@MJCOIN Are you thinking of asking the auctioneers is the coin is genuine, and how they know?

😎

 

Well written and informative 👏 

[Petra]

46 minutes ago, gazer said:

Well written and informative 👏 

I have already messaged them, they confirmed it is ok! Most auction houses have little or no information on coins like this other than a one line obvious description 

[LawrenceChard]

On 06/04/2022 at 09:17, LawrenceChard said:

I received a reply today:

"Potteries Auctions <enquiries@potteriesauctions.com>
09:00 (14 minutes ago)
to me

The weight is correct and measurements for this lot. Item is as per catalogue description

Kind regards,

Tel: +44 (0)1782 638100

Website: www.potteriesauctions.com

Address: Silverdale Saleroom, Unit 4a, Aspect Court, Silverdale Enterprise Park, Silverdale ST5 6SS

Open Monday to Friday 9.00am-4.00pm."

I replied:

"Is that a real person answering, or an auto response?
Did you read my e-mail?
Does anybody there have any numismatic experience, qualifications, or expertise.
This is almost certainly a fake coin.
The only reason I say "almost" is the poor quality of your photos.
Selling counterfeit coins, knowingly or not, is a criminal offence.

Regards,

Lawrence Chard

Chard (1964) Limited
32 - 36 Harrowside
Blackpool
FY4 1RJ
England, UK.

Tel 0044 (0)1253 343081

www.chards.co.uk"

I guess they will either ignore me, or reply "The weight is correct and measurements for this lot. Item is as per catalogue description"

😎

As of today, I have received no further reply, so I guess that, despite an expert specialist informing them that the item was counterfeit, they still went ahead with the sale and the false description, displaying a disregard for ethics and the law, preferring an easy life and a quick profit.

I thought I would look at the sale price, but:

No longer available

Full Sovereign George V 1918 gold coin: Flattening to bottom where mis-struck.

Hammer Price:

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Auction Date:

08 Apr 2022 10:00 BST

Auctioneer:

Potteries Auctions

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Edited April 30, 2022 by LawrenceChard