I read this on another forum and still can't believe this.
Someone would have made and someone would have lost hundreds of thousands of dollars at this auction. View links below.
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++344+&refno=31044339&saletype=P
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++345+&refno=31044347&saletype=P
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++346+&refno=31044365&saletype=P
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++347+&refno=31044370&saletype=P
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++348+&refno=31044388&saletype=P
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++349+&refno=31044374&saletype=P
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++350+&refno=31044390&saletype=P
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++351+&refno=31044372&saletype=P
http://www.lawsons.com.au/asp/fullCatalogue.asp?salelot=7953+++++352+&refno=31044373&saletype=P
yes
we went through the dealers tears for missing this auction last year
Who was the fool for listing that collection with a bunch of incompetent morons. Those estimates were perhaps 1 to 5% of the prices those coins would of received in a properly advertised numismatic sale.
dcoin, what was the other forum?
Quote from: 'robbiegal' pid='52175' dateline='1402486719'yes
we went through the dealers tears for missing this auction last year
I cried.
http://www.australian-coins.net/showthread.php?tid=1742
I'm crying again thinking about it.
:icon_cry:
oh no!
second time tonight that it's been a Kleenex kind of moment
I do believe that Walter got awarded these last year too ... and for the same auction
(http://i1285.photobucket.com/albums/a585/auntyrobbs/tissues_zpsf9abf48f.jpg)
I posted that up on the other site and got the links from this site
funny how things go full circle :)
You could re-sell them through any coin auction house and purchase an actual home with the proceeds. Seeing as they haven't appeared on the market one suspects a collector at least got them. Luckily I'd never heard of that auction house, living in Victoria, if that was my local auction house tissues wouldn't suffice, I wouldn't sleep for a week.
Seemingly only one bidder actually knew what they were, if two bidders had known, a $100 estimate lot could have sold for $100,000, that would have to be close to a record.
Was this real?
apparently so runway as I vaguely remember a post about it and it was very upsetting to think someone got ripped so bad but I suppose that's why we try and do our homework and someone got some super coins dirt cheap and wish it were me as there were some really nice coins in that batch.
More than a few $100,000. That 1924 proof set is worth almost half a million alone.
Quote from: 'wwwww' pid='52226' dateline='1402524030'More than a few $100,000. That 1924 proof set is worth almost half a million alone.
With an estimate of 100-200 dollars:Alvarin_33: and selling at $1700.
What is the legal responsibility of an auctioneer in cases like this? Considering they let their client down BADLY would the client have legal redress or does the paperwork protect the auctioneer?
Any lawyers out there?
Quote from: 'nealeffendi' pid='52230' dateline='1402528641'Quote from: 'wwwww' pid='52226' dateline='1402524030'More than a few $100,000. That 1924 proof set is worth almost half a million alone.
With an estimate of 100-200 dollars:Alvarin_33: and selling at $1700.
What is the legal responsibility of an auctioneer in cases like this? Considering they let their client down BADLY would the client have legal redress or does the paperwork protect the auctioneer?
Any lawyers out there?
I'm not sure of there actual responsibility, however, I do remember a guy took his bank to court, they acquired his house then sold it at a public auction for $10k, house was worth $100,000's of thousands. Unsure if the plantiff won or lost that one though.
anyone considered that possibly the vendor may have bid on and won the auction lots?
Quote from: 'robbiegal' pid='52273' dateline='1402569619'anyone considered that possibly the vendor may have bid on and won the auction lots?
Legally I don't think that is allowed... conflict of interest ...
Quote from: 'ausproofs' pid='52274' dateline='1402569876'Quote from: 'robbiegal' pid='52273' dateline='1402569619'anyone considered that possibly the vendor may have bid on and won the auction lots?
Legally I don't think that is allowed... conflict of interest ...
Regardless of the legalities a lot of auction houses have their pet shillers and placers on the floor :angel:
Quote from: 'ausproofs' pid='52274' dateline='1402569876'Quote from: 'robbiegal' pid='52273' dateline='1402569619'anyone considered that possibly the vendor may have bid on and won the auction lots?
Legally I don't think that is allowed... conflict of interest ...
nope
it's not illegal
Quote from: 'robbiegal' pid='52273' dateline='1402569619'anyone considered that possibly the vendor may have bid on and won the auction lots?
I'd be more worried that an employee intentionally deceived a naive vendor that the coins were nothing special, had the coins put in the jewellery section with no obverse images and as low estimate batch lots (would make a casual observer think they must be cleaned rubbish to be so red). Then on the day have a friend/relative buy them up cheaply.
Has happened before.
Quote from: 'nealeffendi' pid='52352' dateline='1402635389'Quote from: 'robbiegal' pid='52273' dateline='1402569619'anyone considered that possibly the vendor may have bid on and won the auction lots?
I'd be more worried that an employee intentionally deceived a naive vendor that the coins were nothing special, had the coins put in the jewellery section with no obverse images and as low estimate batch lots (would make a casual observer think they must be cleaned rubbish to be so red). Then on the day have a friend/relative buy them up cheaply.
Has happened before.
The perfect crime