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<p>[QUOTE=&quot;Ken Dorney, post: 2518984, member: 76086&quot;]I dont know if your comments should be taken as jaded or just a bit too harsh.&nbsp; It is true there are rotten eggs out there.&nbsp; They are in every aspect of humanity, not just coin collecting.&nbsp; But it is also true that many people take a loss on coins, dealers and collectors alike.&nbsp; Sometimes it is like playing the lottery or otherwise gambling.&nbsp; One hopes they can get more than they paid but ultimately sell for much less.&nbsp; As a longtime dealer I have done so many times.&nbsp; If I pay CNG say $500 for a coin and it sits in my inventory for 8 years with no interest at any price, I have to decide if I want it for myself or am I better off selling for $50 and putting it into something else I hope will turn a profit?</p><p><br /></p><p>As a dealer I look at a LOT of coins.&nbsp; And I do a LOT of research.&nbsp; I have seen many coins bought up in auction only to be immediately slabbed and turned onto Ebay, coin shows, etc.&nbsp; In many cases the coins sold for a high price and I snapped them up for bargains later as the re-sale venue was not right for the coin.</p><p><br /></p><p>But it does come down to trust.&nbsp; Who does one trust in the business?&nbsp; That is for each person to decide but I have been in business a long time and in my experience the bad eggs always drop out eventually.&nbsp; Bad business practices will not keep one in business for long.&nbsp; In most cases some stick around for as much as 10 years but they eventually fail.</p><p><br /></p><p>My point about hammer prices though is that there are some situations in which the coin never transfers to a new owner.&nbsp; Most often is a reserve.&nbsp; Many auction houses dont allow reserves outright but allow the owner to bid on their own coin.&nbsp; Is that shill bidding?&nbsp; I dont know.&nbsp; Maybe.&nbsp; But nevertheless it is bad business for auction houses to show a lot of unsold coins.&nbsp; One may notice that many European houses commonly sell less than 20% of their auction, the rest offered up later as a buy now scenario.&nbsp; That does them no good, as they obviously started the prices too high.</p><p><br /></p><p>In the case of John&#039;s tetradrachm, who knows why it went through several sales.&nbsp; Maybe it was not paid for, maybe invested in by the buyer, buyer regret, need for cash, the reasons are many fold.</p><p><br /></p><p>Anyway, didnt want to lecture.&nbsp; Just some perspectives from me.[/QUOTE]</p><p><br /></p>

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