WE SAW A HUGE SURPISE AT OUR AUCTION
While we had record registrants, included in those numbers were about a dozen women. That was something we have never seen before. Typically we may have one or two female bidders. We have no idea where they came from or how they got into collecting coins.
Maybe the days of the good old boys club will finally be coming to an end? There still is a long way to go. At the very top there are no women dealers other then myself, Katie, Sarah, and Liz. You still see no female graders at any grading service. At night at shows dealers go out in packs searching for entertainment (at least they used to go to strip clubs). Women certainly are not invited in their card games. Women have such a long way to go in this hobby. Regardless, it was really enlightening to see so many of them bidding! Hope to see more women collectors as time goes on. Lets go girls!
DOES ANYONE HOLD COLLECTIONS ANY MORE?
I make no bones about it, I have never been a fan of the Registry set idea. While I agree there is plenty of good associated with it, I also see a lot of bad.
We see many newer collectors who come in and distort the marketplace while being in the throws of a raging hunt. A great example is the collector who bought the 1958 wildly toned Franklin for $129,000.00 out of one of our auctions last year. He finished his set and sold it off-all but this coin. The underbidder clearly lost his taste and we just resold the coin for $47,000.00-OUCH! I guess the thrill hunt was that great of an experience?
I want to issue a warning to set builders. Just because you built a top pop set does not guarantee you any profits if you sell it off the day you are done. And buying from auctions is dangerous especially if two people are vying for a top spot. You really will need to hold your coin for a significant period of time. The majority of time the underbidder goes away.
Why build the collection in the first place if you are only going to sell it the day after your done? Are you collecting coins for passion -or ego? I deal with many collectors who currently are at the end of their ropes on buying new coins for their sets. They are not selling. Most of them will have far better financial results then this poor chap who lost all the money on the Franklin.
What’s wrong with building a collection to be passed down? Or why can’t a collector savor their hard work for a few years? Even though there is a severe lack of coins in the market, saving the market from wild price swings only makes it better for everyone. Maybe I’m wrong, it pains me to see top sets built then dismantled faster then they were just built. Call me old fashioned or out of touch but I just love complete intact collections