I was looking at the inventory to be auctioned, it ends tomorrow, and is it just me or do these starting bids seem way too high?I'm not saying there aren't cool coins, but they seem overpriced compared to quality.
I see an Agora auction ending on January 30th but nothing for tomorrow. Link? Agora's platform hosts auctions for a few other dealers, and I've noticed astonishingly optimistic opening prices for one such dealer. Maybe you're looking at one of those "subleased" auctions? I haven't browsed the Agora 1/30/18 auction but usually find the Agora auctions to be reasonable in their estimates.
Pegasi and Spartan both overprice their auctions. Most of their stuff go unsold . I rarely bid on their auctions, but once in a while, they have something that is within bounds, even if it might be retail...
For grins, sometimes I run through the Pegasi auctions at closing and calculate the percent of unsold lots. It's always a huge number, and lots that sell rarely have more than one bid. Disclaimer: I have not examined every auction they've had.
Spartan and Pegasi are the same company. I've bought a few coins from their auctions, but I always wait until the last minute and am always the only bidder. One of the problems they have, aside from optimistic starting prices, is that their photography doesn't do the coins justice. They tend to blow out lighter areas and mid tones, and the resulting image lacks detail. This lack of detail makes all the coins look soft and mushy, as if they were all struck with worn dies. So the high prices combined with doubts about the quality based on the photos mean most go unsold. That's my diagnosis, anyway. But I do the same as you — I go through to see how many are unsold! The few coins I have purchased have been better than expected, though. Here is a comparison photo. Same coin, but the top image is my photo, the bottom image is their photo. Certainly, some people may prefer the style of the lower photo, but it lacks mid tones, which means it's missing some detail. They might argue, and perhaps rightly so, that the exaggerated contrast of the lower image makes the contours of the design easier to "read." Yet the top image is a better representation of the way the coin looks in hand under a bright light in terms of color and reflectivity. I own the coin. It isn't nearly white, like the seller's photo, and the shadows aren't that black. With some research you can find out how much I (over)paid for it.
As a seller, you have two choices. Set a high price and fail to sell some until you lower the price or start low and hope to generate enough bids that the final realization is higher but risking selling some coins at a loss. I have several coins that came to me in flips showing the coin was once offered by a high price seller who wholesaled his unsolds to the dealer who sold to me for 1/3 the 'start' price. You patronize the sellers that make you happy. If you must have that coin and must have it now, someone will be happy to sell it to you for a price. If price is an object, there are coins for you, too. What you want, when you want it, what you want to pay ..... pick two ..... rarely do you get all three.
The complete opposite for Spink Auctions/ yesterday. I think they are my fav. auction. All coins are CNG graded/CONSERVATIVE. Most are highest quality, starting bids are low/ no crazy bidding wars either. I could have got a Byzantine Constantine IV AV Solidus for 900US. I had my faint hopes on a perfect FDC Austrian Empire 1848-A 4 Dukaten Ferdinand V. I tried for these often from Rauch/ Kunker/ Fruhwald.....prices would always be way over 10K euros for a "stempelglanz=FDC example. This one I got for a steal $5250US. And its prooflike PERFECT. So far, I have gotten 4 really nice coins from Spink for half what you would pay most other auctions. John
Your coins are awesome, and way out of my league. Lol, although I'll definitely be buying at least 1 or 2 or 3 () ancient gold examples eventually. Something well circulated and much cheaper. I have zero Greek coins, I HAVE to get a nice big Alexander Tet, I'm drawn to the silver drachms and tets. Gaaahhh I like everything!!!
There are a couple of coins I wouldn't mind bidding on but I need to be careful with money. Heading to the States for a couple days vacation in February and the exchange rate always kills me.
I ended up bidding in the Spartan sale and won the lot I was after. The photography is not always the best and for some lots the opening prices are high but these oft-ignored and out of the way budget auctions like this Spartan auction can hold some interesting and unnoticed rarities and I think specialist collectors in particular should pay close attention.
I once bought a Pegasi Numismatics coin. I was toying with the idea of buying it so I wrote a bid, but then closed the page before clicking confirm as I changed my mind when I realized it was overpriced upon further research. So no harm done, I didn't actually bid on it, or so I thought. Turns out I actually made the bid much to my regret. I was too chicken to write back and tell them I bid on it by accident, so I bought it. If I hold on to it for another decade I may actually break even on it. Definitely overpaid for it. Still, it is a nice coin, and I do enjoy having it, so I suppose that's some consolation.
This was my first RR coin which I already had when I started numbering my coins in 1987. I paid $44 so I think the 30 years probably covered my extravagance. It seemed like a lot at the time. Time heals wounds at least some of the time.
Well, I'd gladly take it off your hands for $45 to make sure you make a profit. Ain't I the kindest and most unselfish person you've ever met?
