The Copthorne collection of pennies

[PWA 1967]

19 minutes ago, 1949threepence said:

I would like a few more proofs, especially those with provenance going back a long way. An example would be Steve's 1868 copper proof, which goes all the way back to a Glendinning's auction/sale in 1940.  

Yes i can understand and they are really nice.

I just know i would get carried away and do my head in Mike 

[1949threepence]

42 minutes ago, PWA 1967 said:

Yes i can understand and they are really nice.

I just know i would get carried away and do my head in Mike 

I don't think you could ever hope to get the lot, Pete. I'd just be happy to get about 4 or 5 decent ones as examples. 

Whilst I am a "completionist", I am a practical completionist in that I know there will always be a natural limit to most collections, especially one as variety laden as pennies.    

  

[scott]

the ones I want cost a small fortune.

[Rob]

The limit for most collections is determined by one of three things - funds, telomeres or patience. Prolong all of these limiting factors and who knows how good the collection would become. Far better to take the view that if you like it, so will someone else, so you'd better buy it. There's nothing wrong with having gaps in a collection as it always gives you something to go for. Spread the net wide enough and you will always be able to find something.

I've been stuck at around 50% complete for a while now as I discover more criteria that I can fill. These are usually the result of me looking for an excuse to squeeze another too nice to sell coin into the collection, even though it didn't tick any existing criteria on the list.

 

[PWA 1967]

50 minutes ago, 1949threepence said:

I don't think you could ever hope to get the lot, Pete. I'd just be happy to get about 4 or 5 decent ones as examples. 

Whilst I am a "completionist", I am a practical completionist in that I know there will always be a natural limit to most collections, especially one as variety laden as pennies.    

  

You say that Mike but 4 or 5 leads to 6 or 7 then its 10 

[1949threepence]

56 minutes ago, PWA 1967 said:

You say that Mike but 4 or 5 leads to 6 or 7 then its 10 

I suppose if the opportunity presents itself Pete, then you shell out accordingly.........  

[Rob]

28 minutes ago, 1949threepence said:

I suppose if the opportunity presents itself Pete, then you shell out accordingly.........  

And it's much easier to accumulate than to cull.

[Nordle11]

Question - Can you make a bid lower than the low estimate? It says that items with no bids will go up for sale at their low estimate after the auction. I'm not saying put a fiver on everything and if no-one bids you'll win it for that much, but say something has a low estimate of 200, can you put down 150 to start things off?

[PWA 1967]

No Matt.

The low estimate is were it starts there is no auctioneer as such.

If for any reason one doesnt sell the vendor...... May .......sell after it has compleated for less,but highly unlikely.

Hope that makes sense 

[jon]

On the subject of bids does it work along the lines of eBay ie

Low reserve  is say £200 . Lot has no bids so I put down £250. Lot stays at £200 until another bidder joins in and beats my £250?

 

 

[PWA 1967]

Yes Jon 

[jacinbox]

Neil is a coin dealer and I am sure he has priced the coins accurately. If a lot remains unsold I won’t be surprised to see it listed on the CC website in June 2016.

[Nordle11]

That's what he says on the site, that they will be for sale at the lower estimate.

[PWA 1967]

With no commision to pay but doubt that will happen 

[jon]

15 minutes ago, PWA 1967 said:

Yes Jon 

Thanks Pete 

Never took part on this type of auction before so wanted to be sure 

[PWA 1967]

Hope you get what your looking at Jon 

[secret santa]

I'm sure that unsold coins will still have the buyer's premium added.

[jon]

12 minutes ago, PWA 1967 said:

Hope you get what your looking at Jon 

Slowly going through them making a short list.

Will be leaving the rare ones for you lot 

[mrbadexample]

1 hour ago, jon said:

Slowly going through them making a short list.

Will be leaving the rare ones for you lot 

Leave a few common ones too eh? I've been told I'm allowed to have the 1967.

[jon]

3 minutes ago, mrbadexample said:

Leave a few common ones too eh? I've been told I'm allowed to have the 1967.

You will have to put in a good bid though Jon if you want it. I'm thinking of putting a tenner for that 1967 

[bhx7]

Have to say I'm  looking foward to taking part too. Brand new to me too!!

[mrbadexample]

2 hours ago, jon said:

You will have to put in a good bid though Jon if you want it. I'm thinking of putting a tenner for that 1967 

A how much? 

[1949threepence]

I must say, i do like the sound of this auction. Not the least that the website is updated with the latest bids, and the fact that if your bid is topped, you get informed and can re-bid. Plus, no last second sniping - I'm as guilty as the next man where this is concerned, but in an auction of this magnitude it's absolutely fair that such bids are disallowed, and the auction will continue for such items.  

Very much looking forward to it.

[mrbadexample]

58 minutes ago, 1949threepence said:

...and the auction will continue for such items.  

So at what point does the auction stop? 

[1949threepence]

10 minutes ago, mrbadexample said:

So at what point does the auction stop? 

Well, the following is the relevant extract from the rules pertaining to the auction, copied from Colin Cooke's website:-

Quote

 

After this 7 day period we will knock down the coins with bids and sell them to the high bidder. For all coins with no bids we will let them go at their lower estimate i.e. after two weeks the remaining coins will be for sale at the lower estimate price. This 7day period will finish on the 24th May.

No coin will be knocked down until all active bidders on that particular item have been informed that they have been outbid – this is to stop auction “sniping” ie) a bidder bids 1 minute before the lot is due to end giving nobody else a chance to re‐bid. If this happens the lot will remain open until the other bidders have been informed. (Bidders will have their reservations on this process but it did work well on the Nicholson, Cooke, Alderley, Oxford, Douglas & Crocker and Workman collections and lots did not remain open indefinitely.)

We will update the current bid against the coin on our website pages so that interested parties can see how the auction is progressing.

 

The emboldened bit is the most relevant in this regard.  

So essentially, if you made a bid at 11.59pm on 23rd May, the auction for the item you made the bid on would not close one minute later at midnight, unless you were the sole bidder. If there were other bidders, they would be notified of your late bid, and offered the chance to raise their bid. Obviously, if they declined, the item is yours. If one or more raised their bids above yours, then you and the others, in turn would be re-notified of that higher bid. This process would continue until such time as all but one of the bidders dropped out.

Not sure how long would be given between your last competing high bid and the coin being yours, if there were no further bids.

That's how I understand it anyway, Jon. Hope it makes sense.