Does anyone have experience with Leu Numismatik

You probably don't realize that what CNG do is not in your favor ...

 

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How so? By allowing for last second snipers people will end up bidding higher for fear of potentially losing out by an increment. With this reset timer you have 5 or 7 seconds to think before submitting another bid and the cycle continues. So you don’t have to blind bid. Definitely more consumer friendly!

 

hopefully waking up at 4am will prove fruitful

 

It's 2 am for me
But shhhh, I don't know why you're talking about an auction that's still weeks away

 

I’m going to cryogenically freeze myself tonight and wake up in 3 weeks when the auction occurs, and wanted to ask a question before I go in!

 

Don't bid in advance on Leu. They had a well deserved reputation for running advance bids up to your max. Although I know more recent examples of ppl winning well below max bids, in their early auctions they were reputed to max out any advance bids. This is not honest behavior and after seeing enough evidence to be absolutely sure that they were maxing advance bids, I no longer will bid with them under any circumstances even live. I asked them to stop sending me catalogues too

 

I don’t understand why anyone prebids in any auction, barring some inability to be around for the final countdown. It’s such a bad strategy…

 

What I hear in my head during the live portion of an auction as the lot number for my coveted Faustina coin approaches:

 

Because now you actually have many rounds of snipping and with the 5s extensions it happens that subsequent lots hammer before a previous lot. It can only help fraudulent shill bidders and increase the profit of the auctioneer

 

Well, no, not per se bad. E.g., I can't always be around for auctions via the internet. And 2, it helps containing the desire to exceed my max bid.
I do prefer bidding live, and am getting better at restraining myself, so I only use the pre-bid option if there's not other way and I really want to go for a specific coin.

Again, no, not bad per se. Both ways have advantages and disadvantages. I prefer the 'going once..." variant. In my experience, I haven't seen this variant leading to "many rounds of sniping". But perhaps it also depends on the action house and may vary.

And as noted by @Andrew McCabe, I have only one experience with Leu. It was a succesful pre-bid two years ago and I won that coin at - you guessed it right - exactly my pre-bid Since I have not used their services since, I did not think anything special about it.

 

One of the auction houses I enjoy buying from, they answer questions promptly , shipping is prompt and I love my purchases from them. They have also been prompt as a responder in the need for a referral for other auction houses.

I have had several email conversations with Piotr Tomczyk, good fellow.

Here is some of my latest from them.

 

I largely agree, although one strategy that has paid off for me is pre-bidding exactly my max (only with one of the few remaining implicitly trusted auction houses) when I don't think it's worth any more than exactly that amount. This way, I am the prior bid and a live bidder has to go to the next increment (as the earlier identical bid wins).

 

https://en.wikipedia.org/wiki/Winner's_curse

Happy reading

 

This is my philosophy as well. Whenever possible I try to bid live but I often know what the max for a particular coin would be for me. If I get it, great. I got it for what I estimated it was worth. I've won several coins on pre-bids. Many for less than my max.

 

But, but...what are you going to use up at deer camp in the portable jiffy?

Steve

 

Since Leu's new auction has just been released, I've decided to bid on a few coins (that I will almost certainly not get), with the hope of getting a free catalogue

Seriously, though, their large lot selection is fantastic

 

As one of those snipers, I hate the new CNG format .

 

I just got the email about Auction 18...

 

Where am I going to put these and how many more are coming?

 

Never bought from Leu and I don't remember hearing bad things about them until today.
On a Facebook group I am a member of, a gentleman (who is quite skilled as I have seen his posts for a while and he is also the admin of a respectable group) reported this to be a known fake.
https://leunumismatik.com/en/lot/29/3092

I am not skilled enough to decide if this is fake or not but this doesn't sound good.

I am not implying that Leu are selling fakes, but the amount of fake coins I keep hearing about (not related to a specific house) doesn't make me very happy.