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Re: Tonight's Auctions 

By: Decomposed in 6TH POPE | Recommend this post (2)
Sun, 20 Aug 23 3:47 AM | 73 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 45140 of 58598
(This msg. is a reply to 45096 by Decomposed)
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Re: “The pieces shown came in at 1,860 grams (almost 60 troy ounces), and another nine pieces described only as "handles" weren't included in the weighing. I have no idea what the handles are or how much they add to the known weight. What I do know is that even with the buyer's premium (the auction house's fee) and excluding the nine handles, I'm paying close to $200 below spot.”I picked up the silverware today and had my confusion surrounding "handles" clarified. What the sellers meant was that the eight knives and one other piece, a pie server, have sterling handles but stainless steel blades. They therefore weren't part of the "sterling silver" that was weighed - after all, it would be impossible to assign them a weight that was meaningful - but are an extra 18% of pieces of unknowable (to me) value.

This does not change the numbers. There are 49 pieces of sterling silver weighing 1,860 grams. 92.5% of the weight is silver. 1,860 grams of sterling = 1,720.5 grams of silver with a value of $1,272.36 at yesterday's $23/oz closing price. There's a 15% auction house fee, but our winning bid, even after the fee and not including the "free" knives, made the purchase a bargain.

It was good to get that satisfactorily explained.








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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Tonight's Auctions
By: Decomposed in 6TH POPE
Fri, 18 Aug 23 6:11 AM 		Msg. 45096 of 58598

There were three auctions tonight, all starting within 35 minutes of one another. It could have been hectic, but my wife and I are a good team and we've got this down to an art... so it was okay. We didn't win much - just two items at one auction, three at a second and seven at a third. We bid on a total of 56 lots, so the win percentage really was low.

But we had a lot of fun and spent some money for a change. In particular, we spent it on silver - starting with the lot below. It's sterling silver (92.5 percent silver and 7.5% something-else-usually-copper.) The pieces shown came in at 1,860 grams (almost 60 troy ounces), and another nine pieces described only as "handles" weren't included in the weighing. I have no idea what the handles are or how much they add to the known weight. What I do know is that even with the buyer's premium (the auction house's fee) and excluding the nine handles, I'm paying close to $200 below spot. And that's what matters. I wasn't looking to get nice, collectible silverware (though it IS collectible and nice); I was looking to get silver in small, measurable and potentially tradeable pieces at a great price. Anybody who weighs one of these spoons or forks and knows the spot price of silver will know its worth, so in most TEOTWAWKI situations where we don't die, this stuff will be spendable.

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