What Does CNG Do With Unsold Lots

Does anyone know what happens to unsold lots from CNG's eAuctions?

 

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The people at CNG might know.
Have you contacted them?

 

Some are bought directly by CNG and go to their store. I imagine others are brought around again or returned to the consignors, depending on their wishes. I will tag @Ardatirion for you - he works for CNG.

 

Straight to the melt bucket.

 

Hahaha...so that's how Bill got all of his tooth bling.

 

Good! Too many ancient coins cluttering up our modern world and getting in the way of my Pokemon Go gaming!

 

Not from CNG but I often see a show dealer (he'll sell anything) with a group of coins still with old tags from 'name' sellers I recognize even if some have had the 'name' cut off. I have even found some of these remainders listed on acsearch when the truth is the coins never actually sold at that sale but were dumped to the pickers. All sellers make some mistakes when they price coins causing some not to sell. Others know they priced high but need to raise some quick cash for a purpose. There are many stories in the coin trade. I would really like to know how many hands a coin passed through between times it was bought by someone who wanted it for their collection. Some get sold a couple times a century; some a half dozen times at the same show.

 

A friend of mine consigned coins to CNG. 10% didn't sell in the e-auction and he got them back and listed them on eBay.

CNG sells coins at wholesale to other dealers, sometimes with a CNG auction ticket and sometimes with a CNG inventory ticket. For example I won coin from Barry Murphy through VAuctions that had tags indicating that it had appeared in a CNG e-auction. If you buy a coin with a CNG auction ticket and the lot doesn't appear on their web site under "Research" it might have been an unsold that went out this way.

 

That's good to know - I've pulled my hair out a few times with coins that came with CNG tickets - trying to find them in their database to no avail.

 

Unsold lots are not bought by CNG, though sometimes CNG owns coins that go unsold, and nothing is sold at fixed price unless CNG owns it. In general, unsold lots are either returned to the consignor, relisted at a lower estimate, or grouped together and listed.

If you have an auction ticket, to pull it up on the research side you must enter the sale and lot number – inventory number will NOT work for auction coins. If it is a fixed price web offering, then enter the inventory number. If you have an inventory ticket that does not pull anything up, then it was either an internal tracking ticket or a stock ticket for a coin that did not appear on the web and thus is not in our public records.

 

Most auction houses will offer 'unsold" lots at the "starting price". I have bought over 100 coins via that route. Usually, there is a three week window for these unsold lots to be open to post auction sales. With the Adams Sale/Triton XIX, someone placed crazy bids on over 50 lots/ then did not pay the invoices. These then were included in future auction.

 

Hi Ardy ...

Hey, if and when the time comes, I want you to post my entire collection on "red"

=> let it ride!!

Sadly, if "black" comes-up then good enough ...



... chances are, I'll be dead anyway

 

Having seen most of what you buy, that's probably what I'd recommend.

 

Nice ... dick



worst ambassador for CNG ... "ever"

My collection rocks!

 

eecchh ... I don't want to click "like" ...

That lip-thing is creepin' me out!!

 

Yup, I always liked Triskeles Auctions ...

 

Actually => JA gets my vote for best auction-house (Rookie of the year award)

 

Canadians...