[ancient] Adventures in bidland: Agathokles tetradrachm

Yeah, I can't afford one now

 

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I suggest you keep your eyes on the ground for a few weeks just in case your lucky streak continues. You never know when someone will lose that lottery ticket that will pay for the coin and maybe the Boscoreale also. I trust you will keep us posted on the shipping, customs and delivery parts of the tale. I know you will start being anxious for it to arrive sometime later today.

This story strikes me as a place where it might have been good to find an agent who was going to attend the sale and would have executed your bid in person - possibly with less drama. I only used one once, 15+ years ago, and he was a very trusted dealer/friend who only charged me 5%. I do know that I got some coins that I would not have otherwise since a representative can adjust bids on later lots if the amount set aside by the first lots is not needed. Obviously this is not a factor when you are interested in only one lot in the sale but it was good when the sale was disbursing a specialty collection in which I wanted ten times the number of coins I could afford. I don't know what the going rate is now or even anyone who might have an idea who to suggest for such a service. Has anyone used an agent? Are they out of date technology now that we have so many E-options?

 

The auction was Feb. 3. The coin arrived ten days ago. I've been busy and it took a while to produce decent pictures. Still not completely happy with the photos.

Shipping, customs, delivery... Doug, I almost panicked when I saw your post a couple of weeks ago-- the one mentioning the ban on US importation of Sicilian coins. Apparently there are some exceptions based on when and where the coin was found. The auction house took care of all of the paperwork.

After paying, I emailed ACR and asked them to notify me when it was shipped and to provide carrier/tracking info. A couple of weeks later I hadn't heard from them and was going to call/write, but it arrived that day! Much quicker than expected.

The buyer's premium was a killer in this auction. I was aware ahead it of time and factored it in my max bid but it was still shocking. ~21%. With the unfavorable exchange rate, it was painful but planned for. I feel it was still reasonable and worth it due to the exceptional quality. Apparently many people had problems with Coretech during that auction. I wonder if I would have won if Coretech had been problem-free... perhaps not since it hammered only one increment lower than my max.

 

First, let me congratulate TIF on the acquisition of a coin that appears to be among the best of its type, regardless of the minor imperfections noted earlier. It has always been my theory that a collector NEVER regrets spending (or even overspending, although I don't think that happened on this coin) on a coin that "speaks" to them, no matter how much it ended up costing him/her. I think you'll find this to be the case for your purchase of this coin.

With respect to Doug's observation and question above: I have never bid directly at an auction, either in-person or online. My dealer always does the bidding for me. I prefer this arrangement for a number of reasons: (1) My dealer attends most auctions in person and can view the coin directly in case the pictures don't fully illustrate the coin's weaknesses or strengths; (2) he has the flexibility to adjust my maximum bid a little higher if he thinks one final bid will get the coin, based on his reading of others' interest in the auction room during the bidding process; (3) many times I'm bidding on multiple coins in an auction, and if I fail to get earlier ones, he can adjust the bidding strategy appropriately on later coins; (4) there are no chances of technical glitches when you have an agent there in person; (5) I highly value his input and could not have started my collection of Roman bronzes without his 30 years of knowledge guiding me around tooled and "worked" coins.

What does this cost me? In general, his commission depends on whether or not the auction house "cooperates" with dealers and agents (they usually do, but not always), which I take to mean that he receives some of the fees collected by the auction house on the sale of a coin. But even in this event, I pay him an additional fee of at least 2% of the hammer price of the coin. His commission is usually 5%, which I consider a bargain relative to the quality of his advice and guidance. In addition, he is the most ethical individual I can imagine dealing with in a business where it would be easy to take advantage of an inexperienced collector.

 

Wohoo! It arrived safe and sound. Congrats again TIF. The coin has an astounding beauty.

 

When I see coins like this, that represent the pinnacle of Greek sculpture, I find it difficult to believe that they were ever meant to circulate as legal tender. That sort of engraving cries out "art for art's sake."

 

Coin-Sister, you had me at the "blue" text!!



Absolutely incredible story ... OMG, I almost peed my pants when the coffee machine was jammed!! (JAVA)



Yup, my hat is off to your coin-comrades AJ and Big-Z for havin' your back and guiding you through to the finish-line (out-standing teamwork, fellas => top-notch comrades!!)

TIF => you rock, and your new coin is merely another jewel in your cool coin-tiara!!

Cheers, Coin-Princess!! (bravo!!)

 

Totally excellent coin, TIF. Congratulations!!

 

Beautiful coin, Anoob's First Meris and your New Tet are the two coins I must want to add to me collection.

 

Hey TIF => wow, when you were "communicating" about this coin I was unaware that it cost "that much" ... ummm, I actually have no idea how much your new coin cost, but people are talking about it as though it must have cost quite a bit?

Yup Princess => your new coin is gorgeous!!!

Oh, but I digress ... here are a couple of my far more humble Agathocles offerings ... hopefully your sweet coin will make them feel at home ...


Sicilia, Syracuse Agathocles AE
Weight: 9.7 grams
Obverse: head of Kore-Persephone left, wreathed with grain
Reverse: bull butting left, dolphin and above, dolphin below








Sicily, Syracuse: Agathokles Æ24
317-289 BC
Diameter: 23.9mm
Weight: 9.26gm
Obverse: Diademed head of the young Herakles left, ΣΥΡΑΚΟΣΙΩΝ before
Reverse: The Nemean lion striding right, club above, ΣΩ in exergue
Reference: Calciati II, p290, 150, R1 7; c.f. SNG ANS 733ff
Other: superior portrait with sculpted features usually represented by simpler forms

 

I have a similar relationship with my dealer - most European auction houses give him 5% and he'll charge me anywhere between 0-5% on top of that, usually depending on the price of the coin in question. I've insisted to pay him more in some cases when I've won inexpensive coins and missed the "big" coins I was chasing after in the auction: it may not make the most financial sense from my side but so much of this "industry" is about relationship building. I'll always take him out to a nice dinner when we're nearby to help make up for the times when he bids and we don't win anything (meaning, he gets no commission).

I do bid on coins myself as well - sometimes in person, sometimes online, and sometimes I'll attend an auction and sit alongside my dealer, but I have my dealer inspect and acquire most of my major purchases in person. He has a great relationship with the auction houses and we can almost always take delivery right after the auction, and well before I've paid a dime, saving on shipping hassles and waiting on customs.

One other added benefit that IoM didn't mention is the fact that the dealer can be unattached emotionally to the bidding. Personally, I don't have a good enough "poker paddle" for bidding on expensive coins in person. When bidding on the EID MAR and Colosseum sestertius recently, I was extremely anxious before and during the bidding. I find this ironic because I deal with much more significant negotiations in business... I suppose coins are just much more personal and result in more passion associated with them.

 

Great coin, TIF

 

I have a dealer, but he doesnt sell coins.

 

=> good one!!

 

Nice TIF, nice to see that it finally got here.

I prefer your photos for the obverse, theirs for the reverse.

CHEERS COIN SISTER!!!!!!!

Oh wait...now you're on the wagon with yours truly.

 

Oooo nice!

 

That is a grand & illustrious coin. Thank you for sharing the fantabulous story.

 

Hello Tif,

BTW, your coin is far superior to one that I was tracking late last year at Heritage. (I didn’t have the money or courage to buy it). The coin you got is far superior to the one I didn’t get. I ended up getting a few nice coins at the NYINC with the leftover funds.

I think everyone at CT is envious & super-happy for you.

 

=> Speak for yourself ... I'm actually quite bitter and jealous

... just jokes, bravo Princess (bravo)

 

You were so right. It does look fabulous in my tiara



No coins were harmed in this picture.