Paper market

News: Welcome to the Canadian Paper Money Forum.

So of the 248 lots of paper sold today in an Ebay live auction, only 53 lots sold. That only 21%.
The unsold notes are from all areas, dominion, chartered, replacements, millions,errors etc..
 Does this mean some things are over priced?
This could mean that only a few certain things are still under valued.
Maybe the start prices were set too high, everything would sell at the right price.
It could mean there was lots of interest at lower prices, but not so much anymore.
Maybe it's a bad time of the year?
I think it's a combination of all the above.

Or does the auction house in question have a history of offering processed and/or overgraded bank notes
with unreasonable reserves, and this fact has now become public knowledge.

It is also an eBay live auction without floor bidders or the opportunity to physically view the lots.

I would not use this auction as a benchmark for the state of the Canadian paper money market.

I hear ya, however there were apparently live floor bidders as well.
Also, It is this house that usually puts together one of the better auctions for paper compared to some others. The soft bidding also was on TPG notes.

No floor bidders for this auction as it was eBay Live and mail bids only.

If the auction listing says LiveAuctionFloorBidder as a bidder, it is either the opening minimum bid or a
mail order bid.

The TPG was done by a relatively new player in the market, and whether justified or not, the preference
among collectors seems to be toward PMG graded notes.

I just thought of something...

Because of our dollar going higher in value.... relative to US anyway, it makes holding Canadian paper "more expensive" because our dollar can now buy more of what it used to.

So for people holding hordes of money from series x y or z, it becomes more of a priority to use it as cash than to hold it.  Where do they bring it? To dealers.  Thus causing a market flood of time t, and thus a resulting decrease in price.

I don't know if anyone else has mentioned this...

Maybe the start prices were set too high, everything would sell at the right price.
Maybe it's a bad time of the year?

I personally think these were the 2 major factors in yesterday's low result auction.

Most successful auctions list very low starting price with equality low estimations. This tends to create a frenzy of BIDDERS and thus successful results. I am not sure if we can attribute yesterdays low result auction on pricing alone or time of year but it was a bad combination.

Also I do not fancy placing bids of two or three thousand without seeing back scans. I inquired about the 1931 Dominion Bank $100 in VF. I was told the note was fully original when at close glance there were 3 distinctive spots where restorations were certainly performed.

I'd say the timing of the auction was the major factor... Many people need time to recover financially this time of year.
That's why there's no shows over the holidays... The market in general remains strong.

I looked at a few of the lots but for me it was the 18% Extra fee they tack on.

I am not rich and buy what I can afford.  I don't mind paying full book value for a note I really want.  But when its real close to BV then tack on 18%.. too rich for my blood.  Call me cheapo

I think I am talking about the same recent auction that was posted on E-Bay.