Featured In Appreciation of Large Lots - Not just crusty LRBs

zumbly · Feb 17, 2021

Herodotus said: ↑

Heh, I recognize that pic from a S. Album auction a few months back. I had a couple of those mixed lots on my radar as well. I failed to secure any of them.

I too employ a strategy of comfortably undervaluing large lots, as to how much I set for a max bid. As such, I lose out on >95% of the lots that I bid on. That is probably a good thing for my wallet.

Being a bargain hunter. I’d like to believe that I’m acquiring coins @(or below) wholesale, rather than at retail prices.

However, when I was still only months into the hobby(w/ limited-to-none valuation experience), there were a few large lots that I later regretted getting away from me. I wish I had bid more at the time; making a better effort at securing some of them — later realizing the hammer price was still comfortably below what the lots were likely worth.

What’s crazy, is that in the year or so that I’ve been collecting, prices have noticeably inflated significantly in that short time. It almost has the feel of a ‘bubble’ of panic-buying emerging.

It has made pricing and securing quality large lots more of a challenge of late.

I’ve learned a lot over the months by simply researching unattributed lots on offer, and identifying visible coins that I didn’t eventually end up acquiring.

Here’s a mini lot of RRs scheduled to be dropped in my box a little later, after making its way across the pond from the UK.

View attachment 1255084

Actually, I just heard the mailman make the drop as I pasted the pic.

WooHoo!
Click to expand...

Obone said: ↑

Some of my best finds have been through group lots.
For example this lot, for only $1000 View attachment 1255096

In fact, I have this lot coming tomorrow, at an average of $20 a coin.
View attachment 1255097
Click to expand...

I really regret that I didn't spend enough time on this DNW auction to focus my bids on some of the large lots. The Richard Plant provenance is a great one, and he clearly accumulated a very interesting collection over his decades of collecting. One of the small Greek lots had an incredibly rare coin that I really wanted, but in trying to bid live rather than pre-sale, I was thwarted by either a bad internet connection or DNW's live bidding portal. The lot hammered for about half what I was willing to bid.

Anyway, congrats on those wins!

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medoraman · Feb 17, 2021

zumbly said: ↑

I really regret that I didn't spend enough time on this DNW auction to focus my bids on some of the large lots. The Richard Plant provenance is a great one, and he clearly accumulated a very interesting collection over his decades of collecting. One of the small Greek lots had an incredibly rare coin that I really wanted, but in trying to bid live rather than pre-sale, I was thwarted by either a bad internet connection or DNW's live bidding portal. The lot hammered for about half what I was willing to bid.

Anyway, congrats on those wins!
Click to expand...

Yeah, sometimes the auctions with too many great group lots are harder, because you don't want to overspend on one lot early, but they all end up going that high. Leu being one that comes to mind. Those kind of auctions attract ALL large group bidders, from collectors to dealers needing stock.

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Featured In Appreciation of Large Lots - Not just crusty LRBs

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