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Re: Tonight's Auction

By: De_Composed in 6TH POPE | Recommend this post (0)
Thu, 22 Aug 24 6:38 AM | 22 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 57010 of 58504
(This msg. is a reply to 56989 by De_Composed)
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We bought a batch of silverware tonight, nearly all of which is silver-plated. Who knows why somebody saw fit to display them together?

I read the lot description and found that two of the pieces - the ones being held in the rightmost photo - are sterling. As a rule of thumb, a sterling spoon is worth $10. One appears small, and that's probably why this lot received very little attention once the price got to $17. But the lot detail goes on to say that the two sterling pieces weigh 45.6 grams, which is close to 1½ Troy ounces. Accounting for the fact that sterling isn't pure silver, and that silver closed at $29.38 today, and that the auction house takes an 18% cut, the lot has a minimum value of $33.88. That's the amount it would be worth bidding, assuming that we don't place any value on our time and fuel. It could be worth more than that if there's anything special about those other pieces.

We won the lot for a ridiculously cheap $18 in an auction where most things sold high. I'm glad that people don't like to read.

As for the time and fuel, it's not too bad. The pickup location is close to another auction's pickup location. We'll combine the two pickups.








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The above is a reply to the following message:
Re: Tonight's Auction
By: De_Composed in 6TH POPE
Wed, 21 Aug 24 8:25 PM 		Msg. 56989 of 58504

Beldin:

Re: “Is this one of those Liberian coins...”Well, of course.

It's kind of funny, because a Liberian dollar is worth about half of a U.S. penny. But this $10 coin has more than $7.00 US of silver in it. When it was made, clearly the value of Liberian money was far higher than it is today. So, given the silver content and numismatic value, the $12 price tag is probably reasonable - to a coin collector. I'm a silver collector, though. I wouldn't pay more than about $6 for it.

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