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<p>[QUOTE=&quot;IdesOfMarch01, post: 5533931, member: 39084&quot;]Let me try to do a little of the math in the transaction to which you refer.&nbsp; I assume that the coin you&#039;re referring to is the Dionysos tetradrachm <a href="https://www.cngcoins.com/Coin.aspx?CoinID=394182" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.cngcoins.com/Coin.aspx?CoinID=394182" rel="nofollow">https://www.cngcoins.com/Coin.aspx?CoinID=394182</a>.</p><p><br /></p><p>So, Dionysos sells for 38,000 CHF in the Nomos auction in November 2019 at an approximate exchange rate of $1.01 with a nominal 20% buyer&#039;s fee.&nbsp; That&#039;s about $46,000.&nbsp; In October 2020 it&#039;s offered by Roma and sells for 34,000 UK pounds at an approx. $1.30 exchange rate, again with a nominal 20% buyer&#039;s fee.&nbsp; That&#039;s about $53,000 resulting in a small $7,000 profit to the purchaser in the Nomos auction.</p><p><br /></p><p>Based on these events, I would guess that CNG thought the coin was seriously undervalued, missed the opportunity at Nomos, and decided to buy it and list it for $75K.&nbsp; Or maybe they thought the market for this coin had increased significantly in the year since it was purchased from Nomos and consigned to Roma.&nbsp; </p><p><br /></p><p>In any event, I would further guess that they might be willing to sell it for a little less -- say, $70K -- a $17K profit -- which, for a high value coin, is far from a greedy profit.&nbsp; If CNG is wrong about the value, they may eventually sell it at break-even or a loss, but they&#039;re an auctioneer and retailer, so those are the risks they take.&nbsp; They&#039;re at the forefront of price trends in the ancient coin market, and maybe they anticipate a continuing rise in Greek tetradrachms of Dionysos.</p><p><br /></p><p>If CNG overpaid for it they won&#039;t be able to sell it at a decent profit.&nbsp; Conversely, if the market for high quality ancient coins is continuing to rise rapidly, then maybe CNG made a good gamble.</p><p><br /></p><p>Finally, I&#039;ll note that a quick ACSEARCH of this type of coin lists three auction sales dating back to 2015, all of whose all-in prices (note that the ACSEARCH price doesn&#039;t include buyer&#039;s fees) are at, or above $75K.&nbsp; So my guess is that CNG saw a bargain and decided, as an ancient coin retailer, to take a chance on this coin.</p><p><br /></p><p>[ATTACH=full]1240859[/ATTACH][/QUOTE]</p><p><br /></p>

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