In recent updates I have written about how busy we
have been here at Stack’s Bowers preparing for our Pogue Part V, March
Baltimore, and April Hong Kong auctions and how these events would be the next
major barometer of market health. I am pleased to report that our most
recent auction results indicate that the market is quite strong!
Over the past two weeks Stack’s Bowers sold over 7,500
auction lots and achieved prices realized of over $43 million!
Most important, we saw strength, sometimes surprising
strength, in nearly every category. The Pogue Sale achieved 117% of the
published high estimate. In our Baltimore auction, United States
coins achieved 119% of our internal estimates. And in our Hong Kong
auction, coins achieved 131% of the published high estimate.
These numbers support the market strength I have
discussed and bode well for continued strength for the remainder of 2017.
Astute collectors have recognized the current market
strength and are evaluating consignment opportunities. For example, one
such collector has just consigned a 1794 $1 in PCGS MS64 to be a highlight in
our upcoming ANA auction in August. If you would like to discuss
consigning, just give me a call. We have a tremendous auction line up for
the remainder of 2017 and we would be honored to work with you.
All the best,