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<p>[QUOTE=&quot;dougsmit, post: 4755295, member: 19463&quot;]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.&nbsp; CNG does not estimate too low for for many low end coins and many sell under estimate.&nbsp; Sellers will differ on whether they would prefer a smaller return or no sale.&nbsp; 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.&nbsp; That does not necessarily mean we got a bargain but that someone lost their shirt between the first and last sale.&nbsp; 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.[/QUOTE]</p><p><br /></p>

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