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<p>[QUOTE=&quot;Rich Beale, post: 3131008, member: 77960&quot;]I heartily agree that lower estimates will quite often result in a better sale price than a higher estimate, but this is not always the case - particularly with very rare coins that are not universally understood. However, you are thinking like a potential buyer, and you would think somewhat differently if you look at the issue from the seller&#039;s point of view. The owner of the $15k deka would never in his or her right mind consign it to any auction house that proposed to list it at a $1 estimate, or even perhaps at a $10k esimate, if they have in fact themselves paid more for it. Nobody wants to gamble unnecessarily that the right bidders wake up and come to the auction if they don&#039;t have to. I can&#039;t begin to tell you how many times consignors have complained to me that such-and-such auction house listed their property at low estimates/starting prices, and having not set reserves, were left nursing serious losses when the lots failed to take off, or left disappointed when it showed up shortly thereafter in another sale and made double.</p><p><br /></p><p>It&#039;s really not that different to when you sell any valuable property, such as your family home - would YOU trust a real-estate agent who said they&#039;d put it up for sale listed at a couple of bucks, see what offers rolled in, and then sell it at the end of the month regardless?</p><p><br /></p><p>The notion of starting at 50% of estimate is an undeniably attractive one from an auctioneer’a perspectice. It virtually guarantees that every lot will sell. Would I like to see every single lot in every auction be sold? Of course, but not at the expense of our consignors. As a company, we’re content to perhaps make a little less money, but protect the interests of the consignors who place their trust in us to sell their property for them.[/QUOTE]</p><p><br /></p>

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