I just saw this one (it is NOT mine). Here's a check from George Washington for $25 dated 1797. For those of you that have the scratch, the estimate is $40,000 - $45,000. http://www.rrauction.com/bidtracker_detail.cfm?IN=1
That is pretty darn cool. Needless to say, if I had $45k to spend on this, I'd go the extra mile and pay the additional $150 for the letter of authenticity ;-)
If I was paying $45,000.00 I would think that the $150.00 letter of authenticity would be included. I mean, if you bought a $45,000.00 coin would you expect to pay the grading fee? Not trying to be nitpicky, but we are talking about 0.3% of the value. It's not a deal breaker for the consigner nor the consignee.. But, it is one less expense out of pocket for the purchaser.
Yeah - but then there is the 22.5% buyers premium to be added to the hammer price, now if you can afford all that then the 150$ doesn't seem so bad. From the auction page: "Buyer's Premium: The Bidder acknowledges and agrees that a 22.5% buyer’s premium will be added to the hammer price."
It's not about giving the buyer one less fee to worry about. It's abouut to trying to get max out of the auction if you are the seller. Authentication raises the confidence of the bidders which brings higher bids. If I was the auction house I wouldn't allow for such an item to be registered without having authentification. Not only will the auction house make back the grading fees in the higher commission but they protect their reputation.
Wow, if a check is worth that much, it makes me wonder about the value of an item in a nearby family member's possession. When George and the troops were at Valley Forge, one of my ancestors was the cook. At some point, I don't recall now if during the war, or after, George Washington presented him with a gold tipped cane along with a letter of commendation. I remember our local newspaper did a story on it back in the 70's.
