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<p>[QUOTE=&quot;dougsmit, post: 1950229, member: 19463&quot;]I&#039;m not sure what I think about a &#039;fair return&#039; when comparing such auction results.&nbsp; We have to allow for such matters as buyers&#039; premiums and postage.&nbsp; In many cases at such levels a buyer will have employed an auction agent who will have charged at least 5% (depending on whether he was going to that sale anyway or was making the trip for that one bid).&nbsp; It is not always easy to figure exactly how much a buyer has in a coin when the prices realized says $16,000.</p><p><br /></p><p>I just posted this to another thread but it fits better here:</p><p><a href="http://www.acsearch.info/search.html?id=2012929" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.acsearch.info/search.html?id=2012929" rel="nofollow">http://www.acsearch.info/search.html?id=2012929</a></p><p>The sale was 3 June 2014 for $35,000 on an estimate of $20,000.&nbsp; The listing includes, &quot;Ex S. C. Markoff Collection (NAC 62, 6 October 2011), 2002.&quot;&nbsp; Looking up that sale we find this:</p><p><a href="http://www.acsearch.info/search.html?id=1103076" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.acsearch.info/search.html?id=1103076" rel="nofollow">http://www.acsearch.info/search.html?id=1103076</a></p><p>The realization was 32,000CHF on estimate of 15,000CHF.&nbsp; The 32kCHF is converted by acsearch to $34,726 or $274 less than it brought three years later.&nbsp; I do not know details on the add-on costs from the first sale (buyers, postage, agent --- whatever) but assuming all those costs to be zero allows a return of what banks now pay on checking accounts; anything over zero would be a loss.&nbsp; </p><p><br /></p><p>I find it interesting that the second sale was estimated at roughly the same as the first and the two sales each returned about the same amount a bit over double estimate.&nbsp; The first description mentioned the area of weak strike in the hair (duh!) while the second overlooked it.&nbsp; It is a nice coin.&nbsp; Whether a coin with flat hair is EF is a matter decided by those who will pay $35,000 for a coin.&nbsp; I hope I get to see this coin sell again.&nbsp; It seems that three years was not enough to see it rise enough to show profit but who is to say what it would bring next year or in 2024?&nbsp; I am not a businessman so I do not understand most of the forces at work here.&nbsp; I do recall a name brand dealer a few years back (the one who gave up coins and started selling guns) who stated he had made a small fortune in coins but added that he did it by starting with a large fortune.&nbsp; Prices on things like coins only have to make sense if we assume that the money spent on them means anything to the traders.&nbsp; I live on pensions and buy coins worth a few dollars.&nbsp; The hobby is full of people who waste thousands like I do singles.[/QUOTE]</p><p><br /></p>

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