PFK auction.

[argentumandcoins]

Catalogue is now online for those who may be interested at;

http://www.pfkauctions.co.uk/Catalogues/as170811/index.html

There should be something of interest for all of you. One or two typos due to my handwriting!

Bidding is live online for those who can't attend and there is a postal service available via the auction house rather than third party.

[DaveG38]

Catalogue is now online for those who may be interested at;

http://www.pfkauctions.co.uk/Catalogues/as170811/index.html

There should be something of interest for all of you. One or two typos due to my handwriting!

Bidding is live online for those who can't attend and there is a postal service available via the auction house rather than third party.

Was it just me or were prices going absolutely mad? I watched most of the lots go and the gold went pretty much at the bullion price with very little bidding. However, many of the other multiple coin lots seemed to go for phenonenally high prices and many to the same online bidder. Did anybody else watch or buy anything? Did you think it looked crazy like I did?

[£400 for a Penny ?]

Was it just me or were prices going absolutely mad?

Example please ?

[Generic Lad]

I love lot 1331, the 1825 error shilling.

[DaveG38]

Was it just me or were prices going absolutely mad?

Example please ?

Too many to mention, but how about 130 florins of George V and VI (50% silver type plus cupro-nickel) in average circulated condition going at a bit under £500, which with buyers premium plus VAT is around £600. Also large numbers of bulk lots of mostly 20th Century or foreign, going for hundreds of pounds at a time. Many went to the same bidder, who I very much doubt had gone through each lot to find the gems that would turn a profit on these lots. I just found it extraordinary compared to say the prices at one of the specialist coin auctions. Most likly a dealer hoovering up bulk lots but it was difficult to see any easy profits - just a hell of a lot of hard work to turn them out to collectors, whether on eBay or at fairs.

[argentumandcoins]

The prices were brutal. If anybody wants to consign the next sale will be first week in December.

I am already sorting out my bulk dross to submit!!!

[argentumandcoins]

I love lot 1331, the 1825 error shilling.

It was a nice one, hammered at £230 + 18% premium.

[Peter]

Was it just me or were prices going absolutely mad?

Example please ?

Too many to mention, but how about 130 florins of George V and VI (50% silver type plus cupro-nickel) in average circulated condition going at a bit under £500, which with buyers premium plus VAT is around £600. Also large numbers of bulk lots of mostly 20th Century or foreign, going for hundreds of pounds at a time. Many went to the same bidder, who I very much doubt had gone through each lot to find the gems that would turn a profit on these lots. I just found it extraordinary compared to say the prices at one of the specialist coin auctions. Most likly a dealer hoovering up bulk lots but it was difficult to see any easy profits - just a hell of a lot of hard work to turn them out to collectors, whether on eBay or at fairs.

Getting on for a fiver a pop ....someone let Cdesteve know and he could retire.

[Rob]

I love lot 1331, the 1825 error shilling.

It was a nice one, hammered at £230 + 18% premium.

In that grade the winner had to be a collector. A dealer would struggle to make much on it.

[Rob]

Was it just me or were prices going absolutely mad?

Example please ?

Too many to mention, but how about 130 florins of George V and VI (50% silver type plus cupro-nickel) in average circulated condition going at a bit under £500, which with buyers premium plus VAT is around £600. Also large numbers of bulk lots of mostly 20th Century or foreign, going for hundreds of pounds at a time. Many went to the same bidder, who I very much doubt had gone through each lot to find the gems that would turn a profit on these lots. I just found it extraordinary compared to say the prices at one of the specialist coin auctions. Most likly a dealer hoovering up bulk lots but it was difficult to see any easy profits - just a hell of a lot of hard work to turn them out to collectors, whether on eBay or at fairs.

It is why I don't bother looking at the bulk items unless I don't have anything else to do. I've spend ages in the past looking at piles of average circulated odds and sods only to find someone was prepared to pay two or three times what I was at the sale. I can't see how anyone can make money on the prices paid for the 20th century bulk lots. Earlier than that there is definitely an age premium, but less than 100 years old and you have to be lucky to find anything of much value.

[Red Riley]

Many went to the same bidder, who I very much doubt had gone through each lot to find the gems that would turn a profit on these lots. I just found it extraordinary compared to say the prices at one of the specialist coin auctions. Most likly a dealer hoovering up bulk lots but it was difficult to see any easy profits - just a hell of a lot of hard work to turn them out to collectors, whether on eBay or at fairs.

Exactly what I found with the previous W & W sale - one guy must have bid on 60% of the British coins on offer and taken home half of those!

[azda]

Obviously someone with to much money to burn in the hope there will be a few gems amoungst the lots. Time will tell, it was certainly no collector that bidded on all the lots, maybe my friend Mr Platt, if it was, he'll make his money back no doubt

[Rob]

Obviously someone with to much money to burn in the hope there will be a few gems amoungst the lots. Time will tell, it was certainly no collector that bidded on all the lots, maybe my friend Mr Platt, if it was, he'll make his money back no doubt

The key to the high bids is the word bulk. Single lots are easy to stick a value on, but bulk lots aren't unless you are talking bullion and melt values. The bigger the pile of low grade dross, the more likely it is that there will be someone prepared to pay OTT. Modern proof sets go for close to the price that you can sell them at. There is little margin to be made on bulk lot coins because you are caught between the downwards pressure on grade and the increased prices paid by people, many of whom put them on ebay with an inflated grade description and let them ride. In general, I think eBay sellers are the main culprits for the increase in prices realised for bulk lots.

[VickySilver]

Any other exciting prices?

[Peter]

Obviously someone with to much money to burn in the hope there will be a few gems amoungst the lots. Time will tell, it was certainly no collector that bidded on all the lots, maybe my friend Mr Platt, if it was, he'll make his money back no doubt

In this world of information overload I would doubt there being any gems in bulk lots.

I have noted Surrey*coins have been selling overgraded polished / dipped coins on Ebay.

Iphone underbidder investigations?

[Rob]

Obviously someone with to much money to burn in the hope there will be a few gems amoungst the lots. Time will tell, it was certainly no collector that bidded on all the lots, maybe my friend Mr Platt, if it was, he'll make his money back no doubt

In this world of information overload I would doubt there being any gems in bulk lots.

I have noted Surrey*coins have been selling overgraded polished / dipped coins on Ebay.

Iphone underbidder investigations?

This is old news. They have been doing so at least since I started using ebay in 2003 and presumably before that too.

[DaveG38]

Any other exciting prices?

I can't remember too many of them. They were going as a blur of bulk lots, but I was just generally struck by the way in which the same online bidder was scooping up pretty much every bulk lot regardless of price. And prices were almost always going into the hundreds and that's before the buyer's premium plus VAT (18%). I can only think that the buyer has a history of doing this and knows that with bulk lots of the kind being sold, the sheer number of coins, even at 99p or so will still turn a profit, especially with a little bit of extra on the postage. What I can't get my head around is the sheer tedium involved in photographing, listing, packing and posting all those coins as part of the eBay process. The numbers of coins involved for this guy from the auction must run into several thousands, if not 10 thousand. Alternatively, maybe he wants them for his shop or stall as kiloware or lucky dips, still with an eye to making an overall profit, albeit slowly.

[£400 for a Penny ?]

Or he's doing something completely different with them, something from left field, like maybe he's a collector of old slot machines and has an arcade full of them ??

[Peter]

Obviously someone with to much money to burn in the hope there will be a few gems amoungst the lots. Time will tell, it was certainly no collector that bidded on all the lots, maybe my friend Mr Platt, if it was, he'll make his money back no doubt

In this world of information overload I would doubt there being any gems in bulk lots.

I have noted Surrey*coins have been selling overgraded polished / dipped coins on Ebay.

Iphone underbidder investigations?

This is old news. They have been doing so at least since I started using ebay in 2003 and presumably before that too.

I pointed it out as they were seemingly shilling for Platt and wondered if they were getting any "help "

[azda]

Obviously someone with to much money to burn in the hope there will be a few gems amoungst the lots. Time will tell, it was certainly no collector that bidded on all the lots, maybe my friend Mr Platt, if it was, he'll make his money back no doubt

In this world of information overload I would doubt there being any gems in bulk lots.

I have noted Surrey*coins have been selling overgraded polished / dipped coins on Ebay.

Iphone underbidder investigations?

This is old news. They have been doing so at least since I started using ebay in 2003 and presumably before that too.

I pointed it out as they were seemingly shilling for Platt and wondered if they were getting any "help "

I actually pointed out to one buyer from surrey*coins that his UNC 1834 Halfcrown had been dipped. He obviously went back to surrey and asked for his cash back, and in the words of the buyer "it was the worst experience of his life" Obviously surrey was not happy at the fact he wanted his cash back, or maybe the fact he'd sold it at 385 quid which he would have been very happy with, unfortunately i had to step in and tell the bloke it was dipped. If surrey had noted this in his ebay description then it would'nt have been such a problem.

I saw it again recently, he obviously tried to make it less "stoney looking" as it had visible signs of polishing, and yes he does sell overgraded/polished/dipped shite. On the plus side though, trading standards have been in touch with me regarding my list of MPs activities asking if they could have it, it will be my pleasure sir and i hope you're reading Mr Platt, i hear big Bubba is waiting for you with a bar of soap big boy.