Downies 316

[Exbrit 78]

Anyone win anything at the Downies 316? There are a lot of unsold items. I placed a couple of bids, but guess there were hidden reserves since both did not sell. I sent two enquiries - but so far no response.

[Garrett 76]

Not me !

I kept half an eye on the 1746 half-crown but didn't end up bidding (happy for now with the VF I bought in my youth), and wouldn't have won anyway.

I did notice two of the bits of gold sent unsold, were they the lots you went for ?

I encountered the same with Noble's last time, I was the highest bidder prior to the auction but there must have been higher reserves.

cheers Garrett.

[Exbrit 78]

I experienced similar with the Noble 104 auction. For the Downies - I put in a reasonable bid, but the estimate was rather high on the 1872 M Sovereign. I had a moderately strong bid on the 1876 M Sovereign, but no luck. Many sovereigns did not sell - the reserves must have been high. It would be nice if they mentioned that a reserve was in effect.

[Garrett 76]

Looks like it !

I am pretty new to this game but I would not have minded an email saying 'you are the highest bidder but the reserve was X, would you like to pay X for this lot ?'.

Obviously I don't know for sure but I may well have been interested and almost sent an email to the effect.

But........... there are lots more coins out there and no doubt I will find a way to spend all my money anyway !

cheers Garrett.

[Nicholas 51]

Not surprised. Like all oz coin auction houses, Downies are in the dark ages. Hopefully they'll see what's happening out there with online auctioning in the next decade or so...

[Garrett 76]

I don't think so.

You go to their website you will realise their main business is selling the latest sparkling, newly minted, flashing, multi-coloured, hyped up pieces of shit.

[Peter 615]

[azda 973]

It just goes to Show that bidders want at least some value left in the coin and are'nt letting auction houses dictate the prices. I'm glad that Downies has many unsold lots, maybe they'll reduce their silly esrimates next time or advise their consogners that they are expecting to much. All in all, its a good thing. Has the bubble burst?

[Exbrit 78]

+1

[Paulus 1,942]

I went to visit Downies in Melbourne when I happened to be there on business, showed them the fake Northumberland shilling they had auctioned and they proved to be worse than ignorant about it (examined it in hand and declared it as genuine simply because it wasn't a high enough grade to be a fake!).

Their shop sold only modern tat, I wasn't at all impressed, but to be fair they did arrange a full refund when I had it rejected by CGS

A reality check is overdue for them (a comment that might apply to other traditional auction houses too, as has been noted!).

Edited February 23, 2014 by Paulus

[Nicholas 51]

I once gave Downies some coins to sell at auction and they lost all the associated tickets (spink, etc) and when I asked where they were they said to me "we just can't find them" . I have never given them a coin since to sell. Stick to Nobles in Australia- a bit old fashioned but at least they are polite.

[Exbrit 78]

I received an explanation of why my two bids did not win from Downies. Both explanations were reasonable. One the owner submitted a late reserve which I was under and the other was a minimum percentage situation. I'll give them another go.

[Rob 2,999]

I've not had any problems with Downies

[Mr T 169]

I went to visit Downies in Melbourne when I happened to be there on business, showed them the fake Northumberland shilling they had auctioned and they proved to be worse than ignorant about it (examined it in hand and declared it as genuine simply because it wasn't a high enough grade to be a fake!).

Their shop sold only modern tat, I wasn't at all impressed, but to be fair they did arrange a full refund when I had it rejected by CGS

A reality check is overdue for them (a comment that might apply to other traditional auction houses too, as has been noted!).

Another encounter with Downies (not mine): http://www.coincommunity.com/forum/topic.asp?TOPIC_ID=162460

[azda 973]

I went to visit Downies in Melbourne when I happened to be there on business, showed them the fake Northumberland shilling they had auctioned and they proved to be worse than ignorant about it (examined it in hand and declared it as genuine simply because it wasn't a high enough grade to be a fake!).

Their shop sold only modern tat, I wasn't at all impressed, but to be fair they did arrange a full refund when I had it rejected by CGS

A reality check is overdue for them (a comment that might apply to other traditional auction houses too, as has been noted!).

Another encounter with Downies (not mine): http://www.coincommunity.com/forum/topic.asp?TOPIC_ID=162460

Looks like Downies being a little dishonest in their description as it had been through previously and described as fantasy/Prop. Piece for television. Very very naughty Downies, they're now on my List of places not to bid at

[declanwmagee 122]

Fancy spending $1500 on something without knowing what it is !