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Kuenker auction


janneen

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Hello!

 

A question about last Kuenker auction yesterday 27.9:

 

What does a final prize of 3800€ (with reservation) actually mean?

 

Does "with reservation" stand for hammerprize+costs? I made an offer pretty close to this amount so did I get the coin or not?

 

Just can't wait:o)

 

Janne

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A "reservation" means that the seller reserved the right not to sell if the bidding did not reach a certain price, established between the sale, and known to himself/herself, and the auctioneer.

 

It sounds like the bidding reached 3800, but did not meet the "reserve" and is thus unsold. (Reserves are usually not mentioned if it is met, as it would be irrelevant)

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A "reservation" means that the seller reserved the right not to sell if the bidding did not reach a certain price, established between the sale, and known to himself/herself, and the auctioneer.

 

It sounds like the bidding reached 3800, but did not meet the "reserve" and is thus unsold. (Reserves are usually not mentioned if it is met, as it would be irrelevant)

 

So I didn't get the coin. Unless if its for sale again in "Unsold lots"...It's interesting that in most cases reserve was not met and it was actually higher than the estimated prize.

This means they are estimating the coin will not sell...:o)

 

Janne

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Sometimes auction houses intentionally give low estimates...

 

1. Low estimates can sometimes attract more bidders thinking that they have a chance at winning (and possibly bid higher than they would have, especially if they decide to pursue/chase an item)

 

2. So that they can boast that on average, lots that they sell are for XX% above estimate.

 

These comments are made in general - and are not in reference to any particular auctioneer.

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CCG, I looked at current completed Kunker auctions and found no coins which would not have this note "with reservation" in brackets after the price for coins marked as sold. Do you mean that Kunker was not able to sell any of their material? There must be some other meaning to this term.

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does it the same on ebay - you are the high bibder but reseve price was not met :shock:

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CCG, I looked at current completed Kunker auctions and found no coins which would not have this note "with reservation" in brackets after the price for coins marked as sold. Do you mean that Kunker was not able to sell any of their material? There must be some other meaning to this term.

 

I should note that I have not personally dealt with Kunker auctions, but in most auctions that I have participated in, usually unsold lots due to reserve is usually <20% of the total lots.

 

It is quite possible that there is an alternate meaning which Kunker uses, or perhaps there was an computer error when they publish their results list if the comment appears for all lots!

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Hi guys,

 

i think it is just a misunderstanding. It is not the "reserve" like Ebay-reserve (special minimal price from seller). The realised prices, that Künker has published directly after the auction, have all the same german notice "unter Vorbehalt" (engl. "with reserve"). That means they are not final results but just preliminary. The final results (checked and verified) will be published later. That's all.

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Hi guys,

 

i think it is just a misunderstanding. It is not the "reserve" like Ebay-reserve (special minimal price from seller). The realised prices, that Künker has published directly after the auction, have all the same german notice "unter Vorbehalt" (engl. "with reserve"). That means they are not final results but just preliminary. The final results (checked and verified) will be published later. That's all.

 

Thanks, Ognuml, this explanation makes sense.

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Something interesting just happend - lot 8101 (highlight of the auction) reached only 85,000 Euro (with estimate of 100,000) and last time in auction in 2005 it brought around $250,000. Hmmmmm...

kunker's item's field was cleaned. What auction was in 2005?
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Cleaned? For this kind of coin that does not matter. We are not looking for MS 66 here. There are different values to this coin.

BTW, in 2005 Goldberg's spring Pre Long Beach auction, this coin was in the slab - PCGS MS 63.

Agreed. This coin is the only example of a Peter II pattern rouble I have ever seen offered for sale. The Grand Duke's Corpus shows a second, heavily worn pattern apparently retrieved from circulation.

 

If the finest known example of any given coin is a VF with a hole in it, then a holed VF is still the finest example one could ever hope to own. After all, we are not talking about Morgan Dollars here.

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