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<p>[QUOTE=&quot;dougsmit, post: 4517172, member: 19463&quot;]I have serious reservations with the idea that a start bid and and an estimate will always be 60/100 relationships.&nbsp; Which comes first and drives the other.&nbsp; If a consignor says &quot;Sell the stuff&quot; you can estimate a $200 coin at $100 to insure a bid; if they only want to sell for a high number you have to estimate high to spur a bid of more than the coin might bring in an unreserved sale.&nbsp; Perhaps CNG can refuse to list coins in this last category but I suspect a percentage of items are consigned as a group and you have to take the bad with the spectacular.&nbsp; We, in the field, see this regularly when we buy coins still in a recognizable holder that failed to sell in an auction and were wholesaled to dealers.&nbsp; My favorite of this group was the late Don Zauche who always had coins from certain auctions in flips from a sale but priced at a fraction of what the acsearch listing claimed.&nbsp; CNG may be immune from this.&nbsp; There are a couple relatively large sales that sell a much lower percentage at the sale due to high retail estimates of &#039;ho-hum&#039; material. Do you remove unsold coins from you flips when they are returned to consignors? </p><p><br /></p><p>What is a coin worth?&nbsp; CNG lists this &#039;bit off center&#039; Diocletian as selling at $460 + fees on a $100 estimate ($60 start).&nbsp; I hate to think what it would have brought if more of the legend had been a &#039;bit&#039; closer to the flan.</p><p><a href="https://www.cngcoins.com/Coin.aspx?CoinID=164136" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.cngcoins.com/Coin.aspx?CoinID=164136" rel="nofollow">https://www.cngcoins.com/Coin.aspx?CoinID=164136</a></p><p>[ATTACH=full]1119150[/ATTACH]</p><p>I bought it for $175 from &#039;highrating_lowprice&#039;, an eBay seller (usually ridiculed on Coin Talk) not known for either.&nbsp; I doubt he was taking a loss.&nbsp; There is quite a bit of variation in expected prices but the current system of estimates hardly has a grasp on reality.&nbsp; I would prefer starting bids alone but, if you really must give estimates, make them based on your experience rather than a formula.&nbsp; $60 would have been a bargain; $460?&nbsp; There is no sense to auctions; there was none before the current situation that brought you to post on Coin Talk.&nbsp; I doubt there is a way of improving the estimate process that would be better than admitting defeat and giving start bids alone.[/QUOTE]</p><p><br /></p>

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