Benefactor Ancient Coin Hunter Posted September 7 · Benefactor Benefactor Share Posted September 7 (edited) I'm looking at one specific coin this time around and while I had the leading bid for a number of days it now is 8x the starting suggested price (well, absurdly low actually). It will hammer around 3am my local time tomorrow. Just have to decide if I want to make an insane bid which is pretty much for an insanely great coin, to coin a phrase. I guess set the alarm clock and have a quick trigger finger in the waning seconds when the action always really picks up. The conundrum is that the price now exceeds those of the fixed price sites by a significant margin for a similar coin so I am wondering if it is worth it. So the decision is either to pass this time or double down in determination to win the coin. Anybody else have similar thoughts? Edited September 7 by Ancient Coin Hunter 5 Quote Link to comment Share on other sites More sharing options...
Coinmaster Posted September 7 · Member Share Posted September 7 The LEU auctions always gets my attention, because they sell great coins! Somehow they're able to attract a lot of buyers, so 'a good deal' is not realistic in my opinion. If you just 'need' a specific coin, you have to be mentally prepared to pay the price. Note that you're also need to pay for customs (unless you live in Switzerland), auctions fees and postage (> 50,- Euro). Good luck! 2 Quote Link to comment Share on other sites More sharing options...
Roman Collector Posted September 7 · Patron Share Posted September 7 If you can buy a similar coin with similar eye-appeal at a fixed price site for less than the auction price, why bid in the auction? 6 1 Quote Link to comment Share on other sites More sharing options...
ela126 Posted September 7 · Member Share Posted September 7 I’m targeting several pieces in Leu. However I’m having to balance that between today’s targets in Numismad, and a few in Nomos. So my bid won’t go in under just before they begin hammering. Others may have the same idea and prices may jump, in which case I probably will be above where I want to be. 2 Quote Link to comment Share on other sites More sharing options...
Sulla80 Posted September 7 · Supporter Share Posted September 7 31 minutes ago, Ancient Coin Hunter said: I'm looking at one specific coin this time around and while I had the leading bid for a number of days it now is 8x the starting suggested price (well, absurdly low actually). It will hammer around 3am my local time tomorrow. Just have to decide if I want to make an insane bid which is pretty much for an insanely great coin, to coin a phrase. I guess set the alarm clock and have a quick trigger finger in the waning seconds when the action always really picks up. The conundrum is that the price now exceeds those of the fixed price sites by a significant margin for a similar coin so I am wondering if it is worth it. So the decision is either to pass this time or double down in determination to win the coin. Anybody else have similar thoughts? I often have such thoughts: am I OK if none of the cost is ever recoverable in a resale - the more I would care the less likely I will bid how likely that I will ever see another coin like this? the lower the answer the higher I am willing to bid will I enjoy this coin a year or two from now? the higher the answer the higher I am willing to bid (worth noting that the way to win the coin - at any price range - is to pay a price that no one else is willing to pay - the bigger the auction, the more likely that everyone with any interest is bidding in the auction) 2 1 Quote Link to comment Share on other sites More sharing options...
-monolith- Posted September 7 · Member Share Posted September 7 2 hours ago, ela126 said: I’m targeting several pieces in Leu. However I’m having to balance that between today’s targets in Numismad, and a few in Nomos. So my bid won’t go in under just before they begin hammering. Others may have the same idea and prices may jump, in which case I probably will be above where I want to be. I have similar issues, multiple auctions all at once. I just open multiple windows and bid simultaneously. Biddr.com is easier due to the 3 seconds added after the last bid, you have to do last second snipping at Leu actions. Quote Link to comment Share on other sites More sharing options...
Benefactor DonnaML Posted September 7 · Benefactor Benefactor Share Posted September 7 3 hours ago, Coinmaster said: Note that you're also need to pay for customs (unless you live in Switzerland) There are no Customs fees associated with importing ancient coins to the USA. As opposed to "processing" fees charged by the international courier services, and by U.S. Customs itself, when the total value of a shipment exceeds a certain sum. ($2,500 the last time I checked.) 4 Quote Link to comment Share on other sites More sharing options...
Shea19 Posted September 7 · Supporter Share Posted September 7 I actually have a big consignment to Leu for this auction…I have 45 of my coins on sale in this auction today and tomorrow. Hoping for some big numbers today! Good luck to everyone bidding today, hope you find some good bargains (unless it’s one of mine) 😁 3 Quote Link to comment Share on other sites More sharing options...
Sulla80 Posted September 7 · Supporter Share Posted September 7 1 minute ago, Shea19 said: I actually have a big consignment to Leu for this auction…I have 45 of my coins on sale in this auction today and tomorrow. Hoping for some big numbers today! Good luck to everyone bidding today, hope you find some good bargains (unless it’s one of mine) 😁 Funny how different prices look when they are your own coins - I had that experience with recent Heritage auctions where i've sold off some coins - so many great bargains 🙃 1 2 Quote Link to comment Share on other sites More sharing options...
El Cazador Posted September 7 · Member Share Posted September 7 5 minutes ago, Sulla80 said: Funny how different prices look when they are your own coins - I had that experience with recent Heritage auctions where i've sold off some coins - so many great bargains 🙃 May i see those that you sold at HA, i am currently waiting 2 in the mail:) Quote Link to comment Share on other sites More sharing options...
Benefactor kirispupis Posted September 7 · Benefactor Benefactor Share Posted September 7 I put in eight bids and have so far lost every one that's come up (one to go). That's fine. I'm done paying exorbitant prices at Leu, so all of my bids were "reasonable". I was the underbidder on only one coin - where I was worried that my bid given the condition was too high, and I'd accidentally placed an odd bid so the other bidder knew it was my max. I'm perfectly fine losing that coin. All the rest went for prices that IMHO are unreasonable. In the past I've paid those types of prices, but due to a combination of the coins at this auction not being high priorities and the knowledge that I can obtain them cheaper elsewhere with patience, I'm done paying that much. 2 Quote Link to comment Share on other sites More sharing options...
Shea19 Posted September 7 · Supporter Share Posted September 7 30 minutes ago, Sulla80 said: Funny how different prices look when they are your own coins - I had that experience with recent Heritage auctions where i've sold off some coins - so many great bargains 🙃 Ha, I know, I always complain about whoever these people are who are always putting out unreasonably high bids on everything…hoping they’re out in full force today! 3 Quote Link to comment Share on other sites More sharing options...
Benefactor kirispupis Posted September 7 · Benefactor Benefactor Share Posted September 7 2 hours ago, Sulla80 said: Funny how different prices look when they are your own coins - I had that experience with recent Heritage auctions where i've sold off some coins - so many great bargains 🙃 IMHO Leu does a disservice to its consignors. Yes, there are lots of rare coins that go for crazy prices, but the more average pieces can be had for a good price. However, in my experience, when I have won coins at Leu it's because I entered a very high bid and then the very last second someone bid me up to just below my max. In the past, I had auctions where I won every single coin at my max. The result of this is I need to be strategic about which coins to pursue, knowing that I'm likely going to pay my max. As a result, I completely ignore most of the coins. Combine this with the huge number of lots and the reality is many coins are ignored. However, the bidding mechanism and the likelihood of paying my max makes me not want to just watch the auction and try sniping okay coins. I can more easily take this risk in auctions like CNG or Savoca, who work much differently. Numerous times I've watched those auctions and noticed something that was going low, so I put the next bid increment in. Sometimes I win and sometimes I lose. This time, I tried something a bit different by just bidding intriguing coins low, but I lost every one and am wondering if the effort was even worth it. I'll probably just stick to focusing on my highest priority coins, none of which were in this auction, and continue ignoring every other coin. Personally, if I were a consignor I wouldn't consider Leu. 6 Quote Link to comment Share on other sites More sharing options...
Sulla80 Posted September 7 · Supporter Share Posted September 7 1 hour ago, El Cazador said: May i see those that you sold at HA, i am currently waiting 2 in the mail:) both were tetradrachms, Alexander from Odessos and Mesambria. Quote Link to comment Share on other sites More sharing options...
El Cazador Posted September 7 · Member Share Posted September 7 13 minutes ago, Sulla80 said: both were tetradrachms, Alexander from Odessos and Mesambria. I got one, but mine was from Phaselis 1 Quote Link to comment Share on other sites More sharing options...
Coinmaster Posted September 7 · Member Share Posted September 7 5 hours ago, DonnaML said: There are no Customs fees associated with importing ancient coins to the USA. As opposed to "processing" fees charged by the international courier services, and by U.S. Customs itself, when the total value of a shipment exceeds a certain sum. ($2,500 the last time I checked.) OK, in the European Union this seems different than. I have to pay a huge sum for customs on packages from Switzerland. 1 Quote Link to comment Share on other sites More sharing options...
Croatian Coin Collector Posted September 7 · Member Share Posted September 7 I am not bidding on anything at this auction. Quote Link to comment Share on other sites More sharing options...
Heliodromus Posted September 7 · Member Share Posted September 7 2 hours ago, kirispupis said: then the very last second someone bid me up to just below my max Yeah, I ran a screen (looking for winner + sniper a few increments above field) on 2000 past Leu sales, and 80% (!!) of the time the final bid sniper lost (just pushing the winner's bid up). Caveat emptor! 1 Quote Link to comment Share on other sites More sharing options...
Curtisimo Posted September 7 · Supporter Share Posted September 7 I have been holding back with new purchases and concentrating on studying my backlog of purchases from last year but I was watching this auction more as a spectator. All of the coins I would have targeted were well above what I would have bid well before the live auction. Leu is always a popular venue. 1 1 Quote Link to comment Share on other sites More sharing options...
Qcumbor Posted September 7 · Supporter Share Posted September 7 13 minutes ago, Heliodromus said: Yeah, I ran a screen (looking for winner + sniper a few increments above field) on 2000 past Leu sales, and 80% (!!) of the time the final bid sniper lost (just pushing the winner's bid up). Caveat emptor! On the other hand, today, out of 11 bids, I lost 10 being the underbidder with less than one increment on 8 of them (with odd bids most of the time), and won just 1, three increments below my max My only success : Q 13 Quote Link to comment Share on other sites More sharing options...
Benefactor robinjojo Posted September 7 · Benefactor Benefactor Share Posted September 7 10 hours ago, Ancient Coin Hunter said: I'm looking at one specific coin this time around and while I had the leading bid for a number of days it now is 8x the starting suggested price (well, absurdly low actually). It will hammer around 3am my local time tomorrow. Just have to decide if I want to make an insane bid which is pretty much for an insanely great coin, to coin a phrase. I guess set the alarm clock and have a quick trigger finger in the waning seconds when the action always really picks up. The conundrum is that the price now exceeds those of the fixed price sites by a significant margin for a similar coin so I am wondering if it is worth it. So the decision is either to pass this time or double down in determination to win the coin. Anybody else have similar thoughts? Unless this is a very rare coin for condition and/or type, keep in mind that there are lots of ancient coins constantly entering the market, through auctions and dealer sales, so exercising patience and avoiding the bidding frenzy might be the prudent course. Those auction fees and exchange rates add up quickly. 2 Quote Link to comment Share on other sites More sharing options...
rasiel Posted September 8 · Member Share Posted September 8 ¯\_(ツ)_/¯ 3 4 Quote Link to comment Share on other sites More sharing options...
Factor Posted September 8 · Member Share Posted September 8 I only bid on one coin this time and the hammer was about 50% above what I think is reasonable for it. One additional lot is very interesting. Large group lot with several coins I needed. Excellent coins, mind you, in great condition, no idea why they combined them in a group lot. Unfortunately most of the coins in the lot are not in my area of interest, and they also are very nice so the price is already more than what I am ready to pay for the coins I need. 1 Quote Link to comment Share on other sites More sharing options...
Prieure de Sion Posted September 8 · Member Share Posted September 8 I haven't really found much where I think “I have to have this” in the current auction. So it's just two Gordianus coins again - which I bid on. I don't like this kind of auction 😄 ... I was the winner with the highest bid exactly 1 second before the end. But you have no chance if someone has a high bid on standby and sends the high bid one second before the end. So I lost this Gordianus one second before the end without a chance to react to the higher bid. But I did catch a Gordianus. It's not a “must have” coin, but I'm satisfied. Well centered, all details of the bust and Sol on obverse and reverse and especially the legend is complete on both sides. I just have no idea (yet) what or who this L.I.M.B. Colllection is. Now I'm still waiting for one or two Solidus and there's a Crusader that I think is great, but the price is already a bit high. 8 1 Quote Link to comment Share on other sites More sharing options...
Benefactor Ancient Coin Hunter Posted September 8 · Benefactor Author Benefactor Share Posted September 8 Congrats to all who hung in there. The coin I was seeking hammered for 20x the asking price. 2 2 Quote Link to comment Share on other sites More sharing options...
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