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<p>[QUOTE=&quot;dougsmit, post: 2018224, member: 19463&quot;]If a coin sells for ten times estimate, do you get an attaboy from management?Whose fault is it when a coin fails to sell?&nbsp; I always assumed that the consignor would not accept what the coin was worth (after fees) or that the coin was not worth the minimum allowed as a single coin lot but someone did not want it posted in the bulk section.&nbsp; I never consider the estimates so much as a call on what the coin is &#039;worth&#039; but at what level the seller is willing to accept a bid.&nbsp; Some sellers post separate starting and estimate numbers so they are not tied to a percentage which allows for the fact that some coins should bring more than $60 but less than $100.&nbsp; In truth I don&#039;t see a good reason for anyone to read or believe estimates created by the seller who obviously has something to gain by the coin selling high but has the most to gain by it selling.&nbsp; High estimates that scare off bidders (even bidders sure to lose like most of us) do no one any good.&nbsp; If I were consigning coins to an auction, I would not be impressed by how much their last sale realized but by how many different bidders participated in the sale.&nbsp;&nbsp; If you were to bid the 60% minimum on every lot in a sale, you would win a few but the question is would you want any you won.&nbsp; Might that be a sign that everyone else saw something about the coin that made them skip it?&nbsp; How may unsold lots after a sale do you wish you had bid on?&nbsp; I look at such statistics and rarely bid any more.[/QUOTE]</p><p><br /></p>

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