1920-S Sydney Sovereign

[kchan1111]

In Noble's upcoming auction, there is a 1920 Sydney Sovereign up for grabs!

Catalogue is not out yet. But it's listed as one of the highlights. Only $600,000.

http://www.noble.com.au/

I did a double take when I first saw it. Woow!

[Mister T]

Interesting - apparently it's a new example.

[kchan1111]

I was there in the auction. It didn't hit the $600,000 estimate. I think it got to $400,000. It's not listed as sold.

http://www.noble.com.au/auctions/lot?id=389228

There are folks there to take photos etc. Bit of an anti-climax really.

I didn't take a look during the viewing. Did anyone take a look?

[Goldseeker]

All those coins that did not sell, could one bid at the last moment say $10 or is there a minimum bid?

[interest]

All those coins that did not sell, could one bid at the last moment say $10 or is there a minimum bid?

Minimum bid.

[kchan1111]

You really have to bid in person with Noble. If a lot is $100 and you prepare to pay a maximum of $120 and no one else bid, you will end up winning it at $120. Not $60 (say the starting minimum).

And they started charging a extra for live bidding online.

[Goldseeker]

So there is always a minimum starting bid?

[Fr45h3R]

I shudder at how some auction houses in Australia operate.

Something can jump from $200, to $400 on the books and then $450 on the books from the same auctioneer/book?

Doesn't give me too much confidence making a bid on the books.

[Mister T]

I was there in the auction. It didn't hit the $600,000 estimate. I think it got to $400,000. It's not listed as sold.

http://www.noble.com.au/auctions/lot?id=389228

There are folks there to take photos etc. Bit of an anti-climax really.

I didn't take a look during the viewing. Did anyone take a look?

I guess no one with deep pockets is chasing sovereigns at the moment.
There were a couple of British collections sold in the last few years (not sure what the 1920S sovereigns went for but I think they sold).

[kchan1111]

So there is always a minimum starting bid?

There is. 

Not only that. I once put in a bid online - the minimum bid allowable by the website. And I am pretty sure on the night no one else bid except for my bid. I thought I had won the lot. But I never got invoiced for it. May be I was mistaken.

For this 1920-S, there was definitely a bid prior to the evening. And it is not sold.

[autocoupler]

So there is always a minimum starting bid?

The starting bid at most live auctions that I'm aware of, is 60% of the auctioneers estimate. Sometimes you will see quite silly low estimates quoted, just a carrot to lure bidders, so in many cases the estimates don't mean much. In the end an item will sell or not sell depending on it's true worth at the time, regardless of the estimate.

[kchan1111]

In the end an item will sell or not sell depending on it's true worth at the time, regardless of the estimate.

Not only that - even if you are the highest bidder, it might not sell!