Impulse buys at auction

[Bonshaw]

I am usually fairly disciplined in auction bids; I like to think that I do my homework. I generally have a bidding strategy and know how high I will go. But there are a few times where I have successfully bid on a coin without doing any research, and at a price that isn't low by my budget. Usually this occurs because I didn't notice the coin until the lot came up in a live auction, when I am waiting for a different lot where I have planned by bidding strategy. This never happens on a dealer purchase, where I can always take 10 minutes to consider.

I would be interested to know what impulse purchases other people on this forum make. I hope that I am not alone in my bad discipline.

Here is the idea:

1) You need to have been the top bidder - this is for a successful purchase.

2) The price needs to have been high enough that you "feel" it. This can't be a throwaway, easy-come-easy-go purchase for you. That number is different for everyone, you won't be asked to justify it.

3) You can't have done any research outside of the auction. No acsearch, no nothing. It is okay to have seen this coin around before, but you can't consider yourself an expert with a well-informed idea of the coin's value.

4) Provide a photo, a description of the coin, price paid (including buyer's fee, but don't bother with any taxes or shipping) and a brief note of why the impulse overcame you (this is the best part).

I would like to think that I am not the only person to occasionally do stupid things like this. Encouragement on coin value or positive commiseration on bad purchases is welcome.

Here is mine. I just bought this today straight-up on impulse, no research:

Description from the auction house: Anonymous. 211-208 BC. AR Victoriatus (17 mm, 2.61 g). Uncertain mint in Sicily. Laureate head of Jupiter right / Victory standing right, crowning trophy (trophy has a narrow post, double skirt, and a short bar under the skirt). Crawford 70/1.

My winning bid: $320 USD, 15% buyer's fee, total $368.

Why did the impulse overcome me? 

I do like Roman republic coins, but I have only one or two that I inherited from my father, and I really have no knowledge about them at all. I liked the ROMA in exergue, but mainly I found the portrait of Jupiter really captivating, and I enjoyed the toning. I just kept staring at the obverse portrait until I involuntarily clicked the bid button. And then it was mine (yikes).

I should also say that I enjoyed the ad blurb that the auction house included:
★ Again just suburb! X-Goodman Collection 3/28/00 ★

I guess this was minted in the Sicilian suburbs?

[Curtisimo]

4 minutes ago, Bonshaw said:

Here is mine. I just bought this today straight-up on impulse, no research:

I’m not sure if you have had time to do any research yet after winning it but this is actually a very interesting and historical coin type. These Victoriatii were new denominations that were struck during the second Punic war in order to pay the non-Latin allies for their support against Hannibal. The Latin troops were paid with the heavier and more consistently pure denarius, which was also a new denomination. Below is my example. I still plan to pick up more of these interesting little coins.

Roman Republic
Anonymous 
AR Victoriatus, mint in Sicily, struck ca. 211-208 BC
Dia.: 17 mm
Wt.: 3.3 g
Obv.: Head of Jupiter right
Rev.: ROMA; Victory right crowning trophy
Ref.: Crawford 70/1, Brinkman Group B
Savoca 23rd Blue Auction, lot 883 (August 24-25, 2019)

………………………………….

As for impulse buy, I think this one would fit the bill. I was aware of wanting one of these Eumenes tets for a while but I hadn’t done much research on them. I liked the large flan on this piece and the photo led me to believe that the surfaces were a bit better than they ended up being in hand. I paid around $200 for it.

Considering the surface disappointment, this is probably not the example I would have picked if I had been a little less impulsive. However, the 38 mm diameter flan makes up for some of that so overall I’m okay with the purchase.

Kingdom of Pergamum, 
Eumenes II. 197-158 Pergamum, in the name of Philetairo 
AR Tetradrachm, struck circa 180-159 BC 
Dia.: 38.00 mm
Wt.: 14.80 g
Obv.: Laureate head of Philetairos r. 
Rev.: Athena enthroned l., resting on shield to r., crowning dynastic name to l.; transverse spear in background, filleted thyrsos to outer l., monogram to inner l., bow to r. 
Ref.: Westermark Group VII. SNG France 1636-1638.
Ex Naville Numismatics Auction 77, lot 78 (November 13, 2022)

[CPK]

You're definitely not alone @Bonshaw. Here is one of my zero-research kind of impulse bids: (though in this case I submitted the bid well ahead of the closing time)

CILICIA, POMPEIOPOLIS
Time of Pompey the Great or later
AE (21.66mm, 5.94g, 11h)
Struck after 66 BC
Obverse: Bare head of Pompey the Great right
Reverse: ΠΟΜΠΗΙΟΠΟΛΕΙΤΩΝ, Nike advancing right, holding palm in left hand and wreath in right; to right, two monograms
References: cf. SNG BnF 1213-17; cf. SNG Levante 882
Olive green patina with some edge chips. A possible lifetime portrait of the great imperator.

It's a nice portrait of Pompey the Great, but was it worth the $196 I paid for it? 😬 I don't think so. Especially when I discovered that a few years ago, this very coin hammered at different auction house for about $30. 🙁

Why did I bid so high? I had never seen this type before, and thought it more rare than it actually is. Also, I think I became a little possessive of it while the bidding was open, and couldn't bear to think of it slipping away, which led me to increase my bid more than I should have.

Am I sorry I bought it? Not really, it's a nice coin. But I think I'd enjoy it more if I hadn't overpaid.

I guess one thing to remember is that for every overpriced impulse auction win, there was an underbidder!

[Bonshaw]

1 hour ago, Curtisimo said:

I’m not sure if you have had time to do any research yet after winning it but this is actually a very interesting and historical coin type. These Victoriatii were new denominations that were struck during the second Punic war in order to pay the non-Latin allies for their support against Hannibal. The Latin troops were paid with the heavier and more consistently pure denarius, which was also a new denomination. Below is my example. I still plan to pick up more of these interesting little coins

@Curtisimo, thanks for this great background. I'm going to learn a lot researching these!  I now have the courage to start looking at acsearch to see how I did. There are certainly some nicer copies of Victoriatii (love that plural), but those mostly seem to have hammered even higher. And there are plenty that are cheaper, but mostly they aren't as nice. Maybe I did okay here. Of course, I won't really know until I have the coin in hand.

I look forward to all of the background reading that I will do now, which is the real payoff.

Edited September 8 by Bonshaw

[kirispupis]

This is my latest impulse buy. I'd noticed it at the auction but hadn't intended to bid, since I have a somewhat similar example, and I've been mostly going after different copies lately. However, I won my primary target at a much lower price than I anticipated, so I decided to go for this one too.

It's an interesting piece that I need to research more. 

Macedon, Koinon of Macedon
Pseudo-autonomous issue. Time of Gordian III (238-244)
Æ 24,3mm, 9.9g
Diademed head of Alexander III right, upward-looking, with flowing hair.
R/ KOINON MAKЄΔONΩN B NЄΩKOP / OΛVMΠIA. Two prize crowns, each containing palm branch, OΛVM in field above, ΠIA below
AMNG 799 var. (wreath on obv.); Gemini VI, lot 650.
Apparently struck in commemoration of Gordian's presence in Beroea in 242 for the games and festivities which were modeled after the original Olympic games at Elis.

 

[ominus1]

..its that feeling you get ...kinda like when playing a gambling game and hitting a  good roll/hand..nice coin!...:)

[MrMonkeySwag96]

That’s a gorgeous Victoriatus. Here is mine:

Roman Republic, Anonymous, 211 - 208 BC Silver Victoriatus, Rome Mint, 17mm, 3.29 grams Obverse: Laureate head of Jupiter right. Reverse: Victory standing right crowning trophy of arms and armor, ROMA in exergue. Crawford 53/1 // RSC 9

Ex. @KenDorney

 

 

 

 

Edited September 11 by MrMonkeySwag96

[-monolith-]

This was a complete impulse buy. It's outside of my collecting realm, I knew nothing about it, I knew nothing about it's value. The only reason I purchased it was because it was a double struck error. I felt the purchase price of 90 euros + fees / shipping was reasonable. 

 

Province, City - Reign:  Nabataean Kingdom - Rabbel II with Gamilat

Denomination:  AR Drachm

Mint:  Petra (70 - 106 AD)

Size:  17.0 mm 

Weight:  3.53 g

Obverse: Laureate and draped bust of Rabbel right (double struck, shifted)

 Reverse: Veiled and draped bust of Gamilat to right (double struck, shifted)

 References: CN 230-234; Meshorer, Nabataea 151-154; DCA 985

Purchase Price:  $122.21 (total cost)

[Al Kowsky]

On 9/8/2024 at 4:27 PM, Bonshaw said:

I am usually fairly disciplined in auction bids; I like to think that I do my homework. I generally have a bidding strategy and know how high I will go. But there are a few times where I have successfully bid on a coin without doing any research, and at a price that isn't low by my budget. Usually this occurs because I didn't notice the coin until the lot came up in a live auction, when I am waiting for a different lot where I have planned by bidding strategy. This never happens on a dealer purchase, where I can always take 10 minutes to consider.

I would be interested to know what impulse purchases other people on this forum make. I hope that I am not alone in my bad discipline.

Here is the idea:

1) You need to have been the top bidder - this is for a successful purchase.

2) The price needs to have been high enough that you "feel" it. This can't be a throwaway, easy-come-easy-go purchase for you. That number is different for everyone, you won't be asked to justify it.

3) You can't have done any research outside of the auction. No acsearch, no nothing. It is okay to have seen this coin around before, but you can't consider yourself an expert with a well-informed idea of the coin's value.

4) Provide a photo, a description of the coin, price paid (including buyer's fee, but don't bother with any taxes or shipping) and a brief note of why the impulse overcame you (this is the best part).

I would like to think that I am not the only person to occasionally do stupid things like this. Encouragement on coin value or positive commiseration on bad purchases is welcome.

Here is mine. I just bought this today straight-up on impulse, no research:

Description from the auction house: Anonymous. 211-208 BC. AR Victoriatus (17 mm, 2.61 g). Uncertain mint in Sicily. Laureate head of Jupiter right / Victory standing right, crowning trophy (trophy has a narrow post, double skirt, and a short bar under the skirt). Crawford 70/1.

My winning bid: $320 USD, 15% buyer's fee, total $368.

Why did the impulse overcome me? 

I do like Roman republic coins, but I have only one or two that I inherited from my father, and I really have no knowledge about them at all. I liked the ROMA in exergue, but mainly I found the portrait of Jupiter really captivating, and I enjoyed the toning. I just kept staring at the obverse portrait until I involuntarily clicked the bid button. And then it was mine (yikes).

I should also say that I enjoyed the ad blurb that the auction house included:
★ Again just suburb! X-Goodman Collection 3/28/00 ★

I guess this was minted in the Sicilian suburbs?

Boneshaw, $368 doesn't seem crazy to me for this attractive victoriatus 😉.

[Al Kowsky]

The coin pictured below was certainly an impulse buy, one of two coins I won at the historic Roma XX Auction. I say "historic" because the famous Ides of March gold aureus in that auction set a world record price that day, $4,188,393, only to be confiscated by federal authorities later 😮! I sold one of the two coins won at that auction for a profit, tempering the embarrassment of overpaying for the coin pictured below ☺️. 

Seleukis & Pieria, Seleukeia. Dated year 18 (92/91 BC). AR Tetradrachm: 15.00 gm, 34 mm, 12 h. Obverse: Turreted & veiled head of Tyche. Reverse: Thunderbolt on decorated stool. DAC 697. Ex Roma XX Auction, lot 292, Dec. 29, 2020, $2,263.

The attractive portrait of Tyche, the near perfect centering of the obverse, the over-sized planchet, & the choice condition of the coin lured me into keep bidding on the coin 🙄. I did feel rather stupid after reading the invoice, but have no regrets adding this gem to my collection ☺️.

[Factor]

1 hour ago, -monolith- said:

This was a complete impulse buy. It's outside of my collecting realm, I knew nothing about it, I knew nothing about it's value. The only reason I purchased it was because it was a double struck error. I felt the purchase price of 90 euros + fees / shipping was reasonable. 

 

Province, City - Reign:  Nabataean Kingdom - Rabbel II with Gamilat

Denomination:  AR Drachm

Mint:  Petra (70 - 106 AD)

Size:  17.0 mm 

Weight:  3.53 g

Obverse: Laureate and draped bust of Rabbel right (double struck, shifted)

 Reverse: Veiled and draped bust of Gamilat to right (double struck, shifted)

 References: CN 230-234; Meshorer, Nabataea 151-154; DCA 985

Purchase Price:  $122.21 (total cost)

Very interesting error! Quite common in Nabatean bronze coins but not so much in silver drachms. This coin is actually of Malichus II, year 22 of his reign, like this one https://www.acsearch.info/search.html?id=11871302

 

[Victrix]

Valentinian I AV Solidus. Arelate, AD 364-367. D N VALENTINIANVS P F AVG, pearl-diademed, draped and cuirassed bust right / RESTIVTOR REIPVBLICAE, Emperor standing facing, head right, holding labarum inscribed with a Christogram and Victory on globe; KONSTAN in exergue. 3,65 g

I got this coin for 500 euro hammer on an auction a few months ago. I just threw the opening bid at the last moment cause I saw opening was only 500 so was like why not in the moment without much care. Low and behold I won it and now I have a clipped solidus. I've always wanted a western empire solidus but not one of Mediolanum or Ravenna as those are very common. So now I got one from Arelate which is quite scarce but on the other hand the coin is clipped and passed many hands as it's very worn. Still not sure how I truely feel about it haha :P.

Edited September 11 by Victrix

[expat]

Looking at an on-line auction a few months ago. Waiting for the Roman Empire coins when this came up. I didn´t have a Republian with Roma on the obverse and the reverse just shouted at me, " I can be yours if you really want me", LOL.

T Cloelius AR Denarius. 128 BC.
ROMA, head of Roma right, wearing a winged helmet, laurel wreath behind / Victory in biga right, horses rearing; grain ear below, T CLOVLI in ex.
Cloulia 1, Crawford 260/1; Syd 516. 19 mm, 3,83 g

[El Cazador]

11 hours ago, Al Kowsky said:

The coin pictured below was certainly an impulse buy, one of two coins I won at the historic Roma XX Auction. I say "historic" because the famous Ides of March gold aureus in that auction set a world record price that day, $4,188,393, only to be confiscated by federal authorities later 😮! I sold one of the two coins won at that auction for a profit, tempering the embarrassment of overpaying for the coin pictured below ☺️. 

Seleukis & Pieria, Seleukeia. Dated year 18 (92/91 BC). AR Tetradrachm: 15.00 gm, 34 mm, 12 h. Obverse: Turreted & veiled head of Tyche. Reverse: Thunderbolt on decorated stool. DAC 697. Ex Roma XX Auction, lot 292, Dec. 29, 2020, $2,263.

The attractive portrait of Tyche, the near perfect centering of the obverse, the over-sized planchet, & the choice condition of the coin lured me into keep bidding on the coin 🙄. I did feel rather stupid after reading the invoice, but have no regrets adding this gem to my collection ☺️.

This is a truly magnificent coin.