Unbelieveable

dcoin · June 11, 2014, 08:50:16 PM

robbiegal · June 11, 2014, 09:08:39 PM

yes
we went through the dealers tears for missing this auction last year

nealeffendi · June 11, 2014, 09:29:06 PM

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?

Fr45h3R · June 11, 2014, 09:33:42 PM

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:

robbiegal · June 11, 2014, 09:36:01 PM

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

serial · June 11, 2014, 09:39:19 PM

I posted that up on the other site and got the links from this site
funny how things go full circle

dcoin · June 11, 2014, 09:41:50 PM

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.

runway · June 12, 2014, 12:08:54 AM

Was this real?

ausjack · June 12, 2014, 01:07:32 AM

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.

wwwww · June 12, 2014, 07:30:30 AM

More than a few $100,000. That 1924 proof set is worth almost half a million alone.

nealeffendi · June 12, 2014, 08:47:21 AM

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?

dcoin · June 12, 2014, 08:07:58 PM

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.

robbiegal · June 12, 2014, 08:10:19 PM

anyone considered that possibly the vendor may have bid on and won the auction lots?

ausproofs · June 12, 2014, 08:14:36 PM

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 ...

trout · June 12, 2014, 08:17:58 PM

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: