Cleo'd in the last few seconds ...

Discussion in 'Ancient Coins' started by Roman Collector, Aug 16, 2020.

  1. Roman Collector

    Roman Collector Well-Known Member

    Today's Leu auction -- I put in what I considered VERY competitive bids on two coins of Trebonianus Gallus. Sniped in the last second on each one. :arghh:
     
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  3. thejewk

    thejewk Well-Known Member

    Unlucky, I know you're partial to a good T Bone or two.
     
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  4. furryfrog02

    furryfrog02 Well-Known Member

    Thoughts and prayers, friend.
     
  5. Shea19

    Shea19 Well-Known Member

    I feel your pain...hammer prices today and yesterday were insane! I got shut out on everything. :(
     
  6. DonnaML

    DonnaML Well-Known Member

    I wish there were a "sad" button. You have my sympathies.
     
  7. ancient coin hunter

    ancient coin hunter 3rd Century Usurper

    Too bad RC. That seems to be happening more and more often. I'm in the same boat.
     
  8. Restitutor

    Restitutor Well-Known Member

    Yeah this auction was rough. But for even worse pain, I present to you the upcoming CNG EA 475. With nearly all coins coming from a single provenance I imagine next Wednesday will be a bloodbath for us non-billionaires :)
     
  9. furryfrog02

    furryfrog02 Well-Known Member

    Sounds like a simple solution...become a billionaire before next week. Problem solved. You're welcome. I take payment in the form of bullion and ancient coins. No personal checks :p
     
  10. Restitutor

    Restitutor Well-Known Member

    Lol! I’ll be sure to send over the EID MAR I win! :cigar:;):hilarious:
     
  11. John Conduitt

    John Conduitt Well-Known Member

    It doesn’t help that CNG often seem to underestimate prices by quite a lot. Or even a big lot. Their estimates remind me of when the Texan asks Homer Simpson how many stars he thinks there are.
    “Two?” suggests Homer.
    “Two?! You think there are two?!”
     
  12. Victor_Clark

    Victor_Clark all my best friends are dead Romans Dealer

    low estimates are used to generate bids.
     
  13. Ricardo123

    Ricardo123 Well-Known Member

    Always happening with pre and proxy bids...
     
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  14. DonnaML

    DonnaML Well-Known Member

    How much do you charge for your sage advice?
     
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  15. ominus1

    ominus1 Well-Known Member

    ..don't feel lonely..i'm 2nd best bidder on the last 10 coins..:rolleyes:...funny how ya feel a loss when we never had the darn things to start with...:mad:(..of course "Cleo" most probably wasn't wanting the coins i'm bidding on:p)
     
    Last edited: Aug 16, 2020
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  16. jamesicus

    jamesicus Well-Known Member

    Yes, CNG did that with several of my RIC vol. VII coins when I consigned them to one of their auctions several years ago.
     
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  17. Ryro

    Ryro Trying to remove supporter status

    I feel you. I lost out on their labyrinth coin by inches...
     
  18. Theodosius

    Theodosius Fine Style Seeker

    The problem with being second-highest is you really don't know how high the top bidder was willing to go. For all we know they were prepared to go $1,000 higher than our top price but nobody made them do it. :)
     
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  19. furryfrog02

    furryfrog02 Well-Known Member

    I let you decide what it’s worth to you. I work on the honor system :)
     
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  20. Severus Alexander

    Severus Alexander find me at NumisForums

    I got skunked too, though underbidder on a couple where I thought the prices were reasonable. Generally very high hammers, though!

    Eagle-eyed @zumbly snagged a nice deal!

    One of my misses you would probably like, this Decius. I like the portrait... it sold for 101 CHF.
    [​IMG]

    And more importantly to instil attachment to particular coins...
     
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  21. dougsmit

    dougsmit Member

    Since the minimum acceptable bid is usually a percentage of the estimate (60% is common), setting estimates too high will result in more unsold lots and that looks bad in a sale. CNG does not estimate too low for for many low end coins and many sell under estimate. Sellers will differ on whether they would prefer a smaller return or no sale. Most of us who have been at this for a while own at least one coin we can document that previously sold for twice what we paid for it. That does not necessarily mean we got a bargain but that someone lost their shirt between the first and last sale. My last outing in consigning to an auction saw some coins go for half what I had paid 20 years earlier; others sold for double so it averages out one way or the other.
     
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