No Reserve Auction.......Bidding Extended

Some dealer sold this coin on ebay and I was scratching my head. Why there? Several questions.........why not get this rare coin graded or did they crack it out because it did not come back with the desired result? It went for 3600 at auction. Why not Heritage or somewhere bigger?. It appears to be at a minimum MS64, worth well more than that. What's your opinion on what and why this was sold like this?

 

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This is now an emerging tread for auction sites, I expect it will be everywhere before long. It does put a bit of a stop on the automatic bids through third parties, sniping may be going away.

 

Some computer auctions are run this way when there are bids at the end. As the clock starts counting down, it gets extended if there is another bid. One of the political items auctioneers run their sales this way.

I don’t have a problem with it. It beats the snipping system eBay uses which I despise. I won’t bid on eBay because of it.

Two minutes does seem like a long extension. The auction I have participated in extends the bidding for a minute or less with time extensions when there is another bid. When there are no more bids, it expires rapidly. It is similar to a live auction.

 

To my eye this coin looks like an UNC details. The obverse looks polished and there are some heavy hits.

 

I have no idea. I do know the population of that coin is very small in anything anywhere near in condition like that. It seemed very odd it was not sent to PCGS for grading considering the stakes. I mentioned that already,

 

I don't like the Pics. Then again, I'm not liking much lately..

 

The white balance is off in that photo. The coin appears to be too "yellow." I don't know if it's less than perfect photo processing or if they are hiding something. At any rate, if I were in the market for an 1895-S dollar, I'd be reluctant to pay over $3,000 for that one based on those pictures.

 

As I insinuated earlier, why not send that coin to PCGS considering the stakes? Maybe it was and the dealer didn't like the outcome and cracked it out. This particular dealer has some quality key date coins for sale, not just the usual fodder. I just like to bounce ideas off you guys heads here, makes for good discussion.