London Coins Auction

[Mat]

Hi, I am making a bit of an assumption here but either way I need to be diligent to ensure I am not being fiddled.

I did not attend but I won lots of items via the internet.

Lot 2770 - 48 x 1825 UNC farthings according to the realised prices they have published sold for £1400.

I have been invoiced for it at my maximum bid of £1250. I have not contacted London coins yet to see if there is an error on the realised prices as I wanted to check on the forum first. My first instinct is that if it was won for £1400 hammer and the winning bidder then dropped out, they have invoiced me as the highest bidder at my maximum bid. I am fine with that, however if it was the winning bidder that originally inflated my price to my maximum bid and then he dropped out, its not fair that I should be invoiced for my maximum bid. I should be invoiced to the last known bid up to the point where the dropped out winning bidder started bidding.

All of the above is a complete assumption just because I saw on the realised prices on their site that it sold for £1400 and I have been invoiced as the winning bidder for £1250.

Was any one at the auction that saw this lot sell that may be able to assist me with my assumption?? Or did anyone else have other bids on this lot??

Cheers

Mat

[Rob]

It could be that someone put a reserve on it in advance of the sale, but when it didn't make this figure they decided to let it go to the nearest bid. It has happened to me elsewhere where I was the underbidder, but was pleasantly surprised to be invoiced at my maximum having known that the vendor had paid twice as much for the coin in the past.

Edited September 6, 2011 by Rob

[pokal02]

The same happened to me in a London Coins auction last year (a 1718 Crown was listed as going for £50 over my max but I was invoiced for my max). I didn't mind as I bid what I thought it was worth.

Hi, I am making a bit of an assumption here but either way I need to be diligent to ensure I am not being fiddled.

I did not attend but I won lots of items via the internet.

Lot 2770 - 48 x 1825 UNC farthings according to the realised prices they have published sold for £1400.

I have been invoiced for it at my maximum bid of £1250. I have not contacted London coins yet to see if there is an error on the realised prices as I wanted to check on the forum first. My first instinct is that if it was won for £1400 hammer and the winning bidder then dropped out, they have invoiced me as the highest bidder at my maximum bid. I am fine with that, however if it was the winning bidder that originally inflated my price to my maximum bid and then he dropped out, its not fair that I should be invoiced for my maximum bid. I should be invoiced to the last known bid up to the point where the dropped out winning bidder started bidding.

All of the above is a complete assumption just because I saw on the realised prices on their site that it sold for £1400 and I have been invoiced as the winning bidder for £1250.

Was any one at the auction that saw this lot sell that may be able to assist me with my assumption?? Or did anyone else have other bids on this lot??

Cheers

Mat

[Peter]

Were the 1/4ds Colins (absolute farthings)?

He bought a hoard a while back I believe and sold a few on Ebay.

[Colin G.]

Were the 1/4ds Colins (absolute farthings)?

He bought a hoard a while back I believe and sold a few on Ebay.

These must have been from the same hoard, but were not mine I only have a couple left which are slabbed and were the pick of the incuse midrib examples.

They seem to be evrywhere at the moment, there must have been a huge bundle originally.

[Mat]

Were the 1/4ds Colins (absolute farthings)?

He bought a hoard a while back I believe and sold a few on Ebay.

These must have been from the same hoard, but were not mine I only have a couple left which are slabbed and were the pick of the incuse midrib examples.

They seem to be evrywhere at the moment, there must have been a huge bundle originally.

Not sure, still have not seen them yet as I did not view and they still have not arrived. Description was UNC with lusture and some with spots. I hope they are black and not green spots!

I got to the bottom of the problem though, as Rob has said the vendor had a £1400 reserve which is the published sale price, but the vendor contacted London Coins and said they can sell it for my bid of £1250.