Spink Auction 19 June

http://www.spink.com/home_page/index.asp

Very important materiel here, some very significant British notes in
particular, but nicer NZ and Australian and SA notes too.

On 14 Jun, 20:58, "scottishmoney" wrote:
http://www.spink.com/home_page/index.asp

Very important materiel here, some very significant British notes in
particular, but nicer NZ and Australian and SA notes too.

shhhhh.

On 16 Jun, 12:58, Matthew Brealey wrote:
On 14 Jun, 20:58, "scottishmoney" wrote:

http://www.spink.com/home_page/index.asp

Very important materiel here, some very significant British notes in
particular, but nicer NZ and Australian and SA notes too.

shhhhh.

Seriously though, it is a nice collection.

Spink's South-East Asian sale is coming up soon (in Singapore) as
well, on 5th July.

A substantial collection of mostly notes of the Malay peninsula and
Borneo, plus two very rare historical Dutch East India Company (VOC)
Rijksdalder notes (1796 and 1820), both estimated at S$100,000+ each,
and extremely rare in any denomination.

The Mavin auction is also upcoming in Singapore 11/12 July, again
nearly all South-East Asian notes

http://www.mavininternational.com/au...07/auction.htm

On 14 Jun, 20:58, "scottishmoney" wrote:
http://www.spink.com/home_page/index.asp

Very important materiel here, some very significant British notes in
particular, but nicer NZ and Australian and SA notes too.

Hmm, well I wasn't entirely impressed with the process.

Went to the auction room on Tuesday to examine the lots. Was slightly
nervous to see the expensive bits of paper being examined with so much
potential for damage before sale. Very impressed by the lot I wanted,
695, slightly less so to see paper damage, despite being described as
uncirculated with nothing mentioned in the lot.

Amused to overhear one of the staff saying that he was flying out to
see the Sultanah to see what she wanted for her birthday and to tell
the staff to contact the butler for Barnaby's lunch.

They had two lot of Indonesian money, 694, and 695:

http://www.spink.com/asp/fullCatalog...7248&saletype=

Lot 694 was four TDLR specimens: two specimen notes of the highly
collectible 'animals' series dating from 1957, but issued 1958-1959,
the 500 rupiah 'tiger', and the 100 rupiah 'squirrel'. Due to the
demonetization of the 500 rupiah it is scarce, and fetches $200+ in
UNC as an issued note. The 100 rupiah is about a $60 note in issued
form, plus two specimens of the 1959-dated series, issued in 1960,
namely the 5 and 25 rupiah notes, both of which are very common as
issued notes.

The estimate was £200-£300 which was clearly inadequate, and the notes
really should have been sold in two or four separate lots, because
there is no connection between them. It sold for £580.

Lot 695 was described thus:

"Bank Indonesia, specimen 25 rupiah, 1959 and specimen 1000 rupiah,
1960, both zero serial numbers, green and vilolet respectively,
President Sukarno at left of the 1000 rupiah
(P 67,88a), red SPECIMEN overprint, perforated, uncirculated and
scarce, the 1000 a handsome note (2) "

http://www.spink.com/asp/fullCatalog...6139&saletype=

It is only the photo that gave the game away that in fact it was the
unissued, specimen-only (P-Unlisted) 5000 rupiah note that was
actually on sale, a nice note given that it is unavailable in issued
form.

The estimate was £200-£300, which was woefully inadequate as they sold
for £800. Evidently people noticed the misdescription and realized the
prize that was before them. That said, at that price I would want to
have known about the paper damage.

I don't think Spink did the notes justice at all. In an ebay auction
for a $20 note you'd expect to see scans of both sides of the note,
yet for 20% buyer's premium plus seller's premium, they:

(a) didn't even realise they were selling an unissued speicmen
(b) listed it as a '1000 rupiah' even though the note is blindingly
obviously says '5000', and is not the same colour as the 1000, and has
a different design.
(c) didn't disclose the damage to the most important note
(d) only took one picture to illustrate eight side of four notes, and
(e) don't appear to have done basic research into the state of their
market to find prices for unissued notes and specimens in general

It is disappointing as a buyer when the auctioneer doesn't have the
required knowledge to sell the goods.