An incredible looking Morgan. Hammer price?

I got blown out on the one Morgan I really liked:
https://www.greatcollections.com/Coin/1044411/1881-S-Morgan-Silver-Dollar-PCGS-MS-65-PL-CAC-Toned

 

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Yes I think they where looser especially for Dmpl then . I decided to take a gamble it will be reflective enough for PL . Great Collections photos are not the best but it looks Pl in the pics to me. We will see though .

 

yeah that was a nice one I was following.

 

The buyer for that Goldenboy Morgan reneged. I am seeing if I can pick it up for a lower price, as the next highest bidder was not interested. Let you folks know if I can pick it up for less than 2k. I really liked it, but not for $2300, with the vigorish. If I could go under $2,000, they would have a deal.

 

Wow . I wonder why both the top two bidders did that . I only bid if I plan to buy even if I have to smooth it over with my wife later. Good luck on getting it.

 

I think they realized what @ddddd said—that it was a bit lacking in color coverage in spots, for the price.

 

I wonder if they get charged anything for backing out or some kind of warning . I imagine there has to be some kind of penalty .

 

Technically, an auction bid is a contract to pay. They are walking the tightrope between public relations, and good auction practices. If buyers are adamant about non-payment, they usually just put it up for the next auction. Let’s see if the buyer does decide to honor his obligations.

 

This was my most recent toner purchase. It was over $2300, but the coverage was far more intense, and vivid. That was why I did not bid last night. It is a PCGS MS 64 OGH.

 

Great looking coin! Wow! Looks hugely PL.

 

Beautiful coin, worth every cent

 

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thanks excited to have it coming . I wish my coin budget was higher but I try and work with what I have haha .

 

Your original opinion was $3200.00 without vig, but 3 hours later your opinion was $1500-$2000.

What , in your opinion, accounts for $2052.00 without vig, and what made you lower your value opinion by 50% 3 hours later? You had the good fortune to see the piece in person, and the coin has a super pedigree.

I am interested in the thought process. Is it the TPG? Is it the amount you were personally willing to spend, and if so, that is not the market value of the coin.

I don't grade from photos, but you have the advantage of seeing it in person and thought it was one of the most beautiful example of the date/mint. Do you think it was because it was a holiday, or the Morgan market is being discounted for the elevated opinion pieces, or nit enough bidders? I really want understand the reason for the 50% value change opinion within a few hours.

Full disclosure for editing: added an s and 2 spaces..

 

It's not that uncommon for the underbidder to say no. They usually either get suspicious they got shill bid (which they almost certainly didnt) or had already spent the money elsewhere thinking they missed out

Hopefully anyone that wins and refuses to pay gets a lifetime ban. It really hurts the consignor if something that recognizable has to be put back up

 

agree , I generally try and win something so unless I got skunked I would probably have already spent the cash haha

 

Lol especially when its one of the earlier auctions of the night. Plenty of stuff left to bid on at that point

 

I guess one way of looking at it is that GC would rather have the winning bidder back out now rather than return it (GC allows one free return per month and anything after that is charged a 5% fee). You don't want to deal with mailing a $2k coin back and forth. I do think there should be a penalty for backing out (especially for someone who has not done any business with GC in the past), but a lifetime ban is too strong in most cases.

 

It was my telepathic message to him saying the coin wasn't worth it.

Edit: I will neither confirm or deny the above is true but I will say that I didn't think the coin was worth $3k and even thought my guess of $2.5k was optimistic after finding the 2018 sale of $1,350.

Edit 2: none of the above answers your question but it fills some time while you wait.

 

It's certainly better than having a return but I really don't agree with them allowing those either as a general policy as the other houses dont. I fully understand why they did as they grew, but they're big enough now they dont need to keep doing that. Special treatment can still obviously happen for those that do a lot of business as is the norm.

The real problem is that its the consignors that get hurt by it. I'm not aware of the fees going to the consignor if one is charged for returns and something like this will almost certainly sell for less on a relist or will need to be held for a significant time and hope people forget about this.

I like GC a lot, but one of the reasons they did get so popular was not having to deal with that ebay style buyer behavior. It's obviously out of their control but if it was any sort of new buyer I would make it an automatic lifetime ban. If it was big time customer than yes it would be smarter to work something out which the consignor should benefit from as well but yea I know thats not how it works