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<p>[QUOTE=&quot;Ken Dorney, post: 2780169, member: 76086&quot;]No, that wasn&#039;t the one I was talking about.&nbsp; I just looked and could not find the one I was thinking of, so it may have been another auction.&nbsp; But this does illustrate some good points. Value is certainly in the eye of the beholder.&nbsp; While you point out this coin was previously &#039;sold&#039; for 1,000 Francs via Nomos and the current auction it &#039;sold&#039; for 430.&nbsp; It is possible they have both traded hands at those prices, but more likely there may have been reserves on either auction.&nbsp; </p><p><br /></p><p>Bottom line is that in the current market nobody will bid unless the lot has a low starting point (much lower than likely to be realistic).&nbsp; But, there are so many auctions now these low starting lots may not get more than one bid, so the sellers protect themselves with reserves.&nbsp; It does make things confusing for the bidder, especially so when they do sales research which gives an unrealistic snapshot of prices.&nbsp; </p><p><br /></p><p>While I have only run two auctions so far I only had a few reserved lots.&nbsp; I wont do that any more.&nbsp; I figure the opening price is what it will take to sell.&nbsp; Anything else is just a waste of everyones time.[/QUOTE]</p><p><br /></p>

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