Bizarre auction prices ...

Although I wouldn't call that coin inexpensive, it seemed a fair price or at least within the expected range of value before the traveling circus appeared.

 

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Felt that it was about right, considering the provenance and condition. Wasn't super cheap, no. Without the provenance would have probably been a bit overpriced imo. Didn't expect the blowout from the remainder of the sale, though

 

Did anyone notice the most impressive thing about the auction?

That bid-caller was effortlessly switching between (at least) four languages, and oftentimes at least three of them in a single lot. (Not just in normal conversation, but during a high-intensity, high-volume activity with lots of stimuli competing for attention!)

He was using English, German, French, and Italian. (I think Italian, but I wouldn't recognize the difference between Italian and Portuguese. This is during the Dr. W.R. "Roma Universa" collection of Roman Republican coins.)

I started trying to film it on the computer using my cell phone (didn't have any kind of video capture prepared) to see if I could catch a clip.

I got destroyed. I made one horrible mistake and didn't bid on the only coin that sold for much less than it had previously sold for...

It was a little Thessalian bronze coin from the Morcom family and the Vlasto Collections (Kuenker failed to note the prior collections, else I'm sure it would've gone higher). I think it hammered at 140 EUR today, and hammered for USD $500 at CNG 76 (12 Sep 2007), Lot 398 -- 15 years ago! I have no idea why I didn't click bid. I guess I didn't realize that would be my only chance. So sad now....

 

There were many eyebrow raising prices in these sales. I did manage to buy one coin but wouldn't have been able to justify the prices for many others.

It's expensive eras like these that give us time to spend more time with the coins already under our care. I'm definitely taking a pragmatic mindset on bidding for the next while to avoid heartache or overspending.

 

I was the underbidder on a Caligula sestertius at Monday's auction, although apparently the winner was bidding so strongly that it's unlikely a reasonably higher maximum from me would have won.

I also took a flyer on a Sikyon stater today that exceeded my maximum by almost double. At its hammer price, it's too far from my collecting focus for me to consider it if that price holds in future auctions.

 

That was a good buy! I was watching that one but chose not to bid in favor of a couple other coins that ended up being pointless to bid on because of the price insanity. Your coin has a great pedigree and is a great addition. Congrats! You got one of the few decent deals.

 

I put in what I thought was a strong bid on a Constans solidus. It went for almost 3 times my bid! There are some very deep pockets out there…

 

Prices were very strong. I was looking at three coins and basically wasn't even close to getting any of them. Two went for at double what i was willing to go and I thought my bid was close to being stupid. I was looking at the Thasos stater in their auction and it went for 19000 Euro ++ I don't feel so bad buying this one at the NYINC. Probably not quite as nice as the one in Kunker but less than half the price. At the time I thought I may have paid too much.
Thasos Stater 412-404 BC Obv, Satyr advancing right abducting protesting nymph. Rv. Quadripartite square Le Rider 6 HGC 334 8.61 grms 23 mm Photo by W. Hansen
I have always liked this particular issue from this mint and have tried and failed to purchase one before. I had a chance get one in New York and I took it.

 

Just looking at the estimates in the Greek section, seems they were set very low to entice furious bidding.......it worked as it always does.

Personally prefer an auction where the estimates at least resemble some sort of genuine value of the coins. I've had more success with those.

 

Yes, when bidding in a European or British auction, and any other auction held overseas, currency conversion is a key factor, one that could get lost in the heat of the bidding process. The best strategy for a US bidder is to figure in advance the maximum bid in dollars, convert the dollars into the foreign currency and then factor in the buyer's fee, all before actually bidding electronically or from the floor. It is hard sometimes to stick to this strategy, though, if the adrenaline starts kicking in, especially for a highly desired lot.

 

Prices in 365 felt high, 366 moreso, and 367 verged on shocking. However I can't complain, I won a coin in 365 of a type that I never imagined I would own, and it sold well below what I anticipated. Meanwhile all of my "realistic" targets in the remainder of the 3 sales went well beyond the realm of "reasonable" hammers.

 

I agree with this. I think I will be looking for books more than coins for the rest of this year.

 

This is exactly what I do, using an Excel spreadsheet. I determine what I am willing to pay, then divide out the buyer’s fee and exchange rate, and that’s my bid. It helps avoid emotional over bidding too.

 

This info was included in an after-auction email from Künker. The average lot in:
365 went for 3x estimate
366 went for 6x estimate
367 went for 5x estimate

 

I wonder if Kuenker agrees with the consignors on reserve prices as the estimates are low in all of their auctions.

I can speak for 367. The 5x the estimate average hammer price does not impress me so much as there were several coins that were estimated too low. I remember I looked up a fraction which sold 3 years ago in cng for 900$ and was now estimated at 200 euros. However there were plenty of coins that were definitely not worth the hammer prices. Some of them would usually sell for 2-3x the estimate and now sold 5-10x. In recent auctions I have noticed that the quite common tets of Macedon Protes suddenly became popular and now sell 3 times what they used to sell. Or Chersonesos fractions you could easily get for less than 200$ now sell 500$. They can go crazy for a generic auction pre-ww2 provenance but not for famous collection provenances and plate coins like the one @lepto posted above.

 

They all go to China - definitely!
The same for a lot of Roman gold
And these coins will never come back to the western market as it used to be

Regards
Klaus

 

Why will they take them to their graves?!

 

There is no export from China of cultural goods to my knowledge

 

Does this restrict coins that do not originate from China? I know that ancient chinese coins aren't allowed to be exported, but not allowing ancients would seem surprising to me

 

Pliny the Elder warned us about sending Roman coins to china….