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<p>[QUOTE=&quot;dougsmit, post: 1882906, member: 19463&quot;]There is a feature&nbsp; of estimates that escapes me.&nbsp; Estimates serve two purposes.&nbsp; In addition to being a guess for a reasonable sale price, they set a starting bid usually 60% or 80% of the estimate depending on the auction house rules.&nbsp;&nbsp; Lets say I am selling my collection and want to sell it all.&nbsp; If the house estimates my coins too high, there may be some coins that do not get a minimum bid so they don&#039;t sell.&nbsp; I&#039;ll be unhappy with the house when they fail to sell.&nbsp; Lets say they estimate high and a bidder or ten looks at the lot but decides not to bid because the coin is not worth that much.&nbsp; The ideal sale situation is where each lot gets many bids and two or more of them are strong.&nbsp; The worst scenario is where each lot gets one bid for ten times the estimate but the lot sells for the minimum because every one else gave up before it started.&nbsp; It is a business.&nbsp; Lower estimates sell coins.[/QUOTE]</p><p><br /></p>

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