June 2009 Torex Auction

News: Welcome to the Canadian Paper Money Forum.

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I'm leaning more towards #2 as the explanation.  Shouldn't CNC have taken the recession more seriously into account when setting the bid prices? Then again, to be fair, I don't know how much lead time goes into organizing these auctions and putting together the catalogues - the recession might not have even started...

The timing of the auction was probably bad too - with the 22nd edition of Charlton's due out next month, people were probably reluctant to bid without knowing how the pricing will pan out in the 22nd edition...

I agree. Also, there was heavy duplication of several rare notes, e.g., fourteen (14) 1900/1902 $4 notes, nine (9) 1935 $25 notes, seven (7) 1935 $50 notes and nine (9) 1935 $100 notes. An amazing offering for sure! However, there is obviously an upper limit to the number of rare notes that the market can absorb at one time. Usually we only encounter one, two or three of these notes in any single auction. 

I agree. Also, there was heavy duplication of several rare notes, e.g., fourteen (14) 1900/1902 $4 notes, nine (9) 1935 $25 notes, seven (7) 1935 $50 notes and nine (9) 1935 $100 notes. An amazing offering for sure! However, there is obviously an upper limit to the number of rare notes that the market can absorb at one time. Usually we only encounter one, two or three of these notes in any single auction. 

I agree with that completely! And out of all those rare notes they had for sale at the auction, the amount that actually sold was very low. two of the fourteen 1900/1902 $4 notes sold. None of the nine 1935 $25 notes sold. One of the seven 1935 $50 notes sold. And again, None of the 1935 $100 notes sold. Yes, the Torex auction did have alot of great items for sale, but why did none of them sell?

When I was looking through Icollector's site after the auction ended I was very surprised to see how many of the notes did not sell. I would guess maybe 20-25% of all lots in Session 1 actually sold.

Not to change the topic but but..... did the RS $5 Test Notes  (#883)   25-Jun-2009   PCGS Unc-62 sale? if it did do you know at what price?

Yes, This note did sell at the auction. It sold for $4,602.00 including the buyers premium. Looks like that was a good deal, considering its estimate of $5,800-$6,000. I just noticed that the lot sold for its staring price.

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All the lots are on the Icollector website.
http://www.icollector.com/THE-TOREX-AUCTION_as14583

And the G/R test note Sold for $2,242, with an estimate of $3,000-$4,000

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It was no problem.

Thanks Hemi.

You rock!
MG

Thanks

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Does someone one know  the answer to this? I haven't to too many shows and i'm curious to know that if I show up at the show tomorrow and certain notes haven't sold is there a way to still make an offer on them

My understanding is that a lot of the notes in the auction were/are owned by the auction company itself (this is a fairly common practice at some Canadian numismatic auction houses). Thus, it's quite conceivable that the auctioneer would be willing to negotiate with you on some items. Please don't quote me on this though!

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