Author Topic: Heritage Hong Kong Auction  (Read 253 times)

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Offline Birdman

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Heritage Hong Kong Auction
« on: December 07, 2018, 12:26:15 PM »
https://coins.ha.com/

Skimming through the results, this caught my eye.  There appears to be little or no premium for MS70 vs MS69, at least for the 1997 G1/2. 

There were some strong prices for types of Chinese coins.

Offline 1668Chris

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Re: Heritage Hong Kong Auction
« Reply #1 on: December 08, 2018, 06:51:09 AM »
For a while there seems to be no shortage of 1997 1/2 on the market which probably explains zero premium

Offline KeyDate1/2ozPandas

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Re: Heritage Hong Kong Auction
« Reply #2 on: December 08, 2018, 04:29:59 PM »
I would estimate 150 1997 1/2 were dumped onto the market over a period of 1 year, many graded MS70 and pool of MS70 collectors is only a handful or two deep.  1997 was an interesting year with the transfer of HK, which caused all kinds of strange hoarding behavior, most of it was unwound over the last 20 years, but occasionally a new hoard of some 1997 coins pops up.  This is a great time to upgrade MS69 coins to MS70.  Anytime I can find a MS70 trading at a tiny premium to 69 I buy it for the future. 

Offline aupanda

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Re: Heritage Hong Kong Auction
« Reply #3 on: December 09, 2018, 01:25:00 PM »
Wonder if hoarders plan better they could avoid dump everything at once and causing the market to tank such in this case...

Offline KeyDate1/2ozPandas

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Re: Heritage Hong Kong Auction
« Reply #4 on: December 12, 2018, 03:01:35 AM »
Investors and dealers do a good job of releasing product slowly, but auction houses want to make commissions quickly and convince the seller to consign everything in fear of missing out on future commission if the seller isn't happy with the results. Many years ago a US auction house dumped a hoard of silver lunars, with multiples of each coin in each auction, followed by same coins in the following three auctions, prices plunged 30-50% for those coins over the course of the year.  Also what often happens is collector dies and heirs need to split the collection 4 way, the only way to do it is selling it all and split the proceeds, so a rush sale happens.