CNG 463 auction your feeling ?

I don’t know if I am right but I feel that overall this auction had more moderate bids not so incredibly high except rather few coins compare for exemple to CNG 461. What is your opinion ?

 

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At least in the Greek section I usually follow, the prices were relatively modest, but on the other hand the material wasn't very exciting. I managed to get this Seleukid tet below the estimate...

 

I feel many lots for Roman were below estimates or just above , on the Greek too. For the Roman the quality was medium not exceptional but even some CHXF ou EF had low bids. I didn’t see really bids war but surely I miss some.

 

I must have bad luck. Just about everything I bid on went for well over their estimates. Here's some examples:
https://auctions.cngcoins.com/lots/...-aquileia-mint-3rd-officina-struck-ad-306-307

https://auctions.cngcoins.com/lots/...chms-of-alexander-the-great-or-his-successors

https://auctions.cngcoins.com/lots/view/4-AYL9C/greek-asia-minor-lot-of-five-5-ar-diobols-of-miletos

https://auctions.cngcoins.com/lots/...al-lot-of-six-6-ar-denarii-of-marcus-aurelius

 

I won a lot that went above estimate. But that's just my luck. LOL

 

I should say that for some lots you bids the estimate was incredibly low and that a good technic to got high bid as people dream. For the 6 denarii even 350 usd is not a bad deal. Most of the lot with normal estimate attract no high bids. So I should say it is not bad luck just you try like too many others to get the big deal of the year.

 

I won this one for 250 usd that not bad for such nice EF even above estimate so I am happy. The estimate was a bit low for sure.

 

I agree with @pprp. Lately the material just hasn't been that great, perhaps typical of summer e-auctions. CNG's estimates are always low so using their estimates as a basis of whether or not you got a deal is probably not very meaningful.

Edited to add: LOL, it's not summer yet. Oh well, the sentiment stands

 

It is more coronavirus winter e-auctions.... joke we never know...

 

Indeed sometimes you got well under estimate but it is not a good deal as a good deal is first a coin you will love for many years even all your life.

 

I won three coins one was over the estimate but the other two I won were at the starting bid and I won.

I remember when the stock market got hit in 2008-2009 I was into buying and selling old Muscle cars (Hotrods) and parts. A lot of people quit buying and the prices dropped on e-bay big time.
I would not be surprised to see that happen with all of what is going on right now, less bidders not wanting to spend their money due to the markets and the corona virus.

 

I agree that we are heading for a worldwide economic contraction. Meanwhile I am buying more stock as the price keeps dropping. Will emerge in good shape on the other side of the trough even if it lasts for 5 to 7 years. Also, I will be still be buying coins.

 

It would be truly a blessing for collectors if investment funds and all kinds of speculators turn away from ancients due to the crisis.

 

I didn't bid, although in retrospect I wish I had gone for this Claudius:
https://auctions.cngcoins.com/lots/...tius-33mm-2143-g-6h-rome-mint-struck-ad-42-43

Even with smoothing, $200 for a Claudius sestertius is a steal!

I mostly stick to other, cheaper auction houses for my individual buys, but CNG's lots are usually the best around. IMO, all of the lots of Philip/Decius dynasty tetradrachms went very cheap and I probably would have bid, but work got crazy and I forgot.

I am still in shock at how much those lots of stabbed Alexander drachms are going for - over $100 per coin, and most of them are graded F or VF. I guess buyers care more about the plastic than the silver inside?

 

Lets face it, some of these estimates were laughable ! As gsimonel pointed out with the four links he posted, these lots were artificially low to stimulate bidding.

I bid $300 on this follis with a $75 estimate. It went for $600.


This group of denarii from the Phil Peck collection had an estimate of $150, that's $25 each . You would be hard pressed to find a group Gordian III antoniniani at that price...

 

Here's a suggestion for soundtrack when you receive the Alexander drachms

 

I bid $350.

 

I followed the Gorny & Mosch internet auction today. It was extremely variable. Some lots went high over estimate, but many lots were also unsold.

I expect the market to fall over the next ten years, at least in real value.
It seems like there are many big collections being sold, and that combined with many new finds, and the economy and society in general will hopefully make it cheaper to collect coins for the remaining collectors. Rarities and high grade coins will continue to be expensive, of course, but I think we can take our time building our collections.

 

A nice opportunity to buy better at lower price with a market of really antics numismatic lovers that want to learn not invest. It take time hopefully I am not in the old ones if 50 is quite young in numismatic. It should put out all antic slabs type collectors.

 

We need to change out habits, not to buy at any price or too high price just the fair price that is most of the time lower than estimate. Yesterday I send a mail with 3 bids over estimate for a great Belgium auction.

During the night I was thinking about my bids and this morning I cancel all first bids and send a new mail with bids under estimates for some coin not so interesting and for the most interesting just 10 % more than estimates that is fair price. And anyway got a list of other coin and if one is unsold they will discount them at 80 % of estimate.

Never if I loose the coins I will find the same in some months easily in same grading even at better price. Of course I will make mistake sometimes like to bid too much but it will be really for rare ones. In this forum I have learnt a lot and want to learn more. First lesson wait to have the best fair price and grading.