Guernseys Mel & Deo Fisher treasure auction a bust. Why?

[goldnsilver]

Guernsey's Mel & Deo Fisher treasure auction a bust. Why?

Anybody following or bidding in the auction of the "Mel & Deo Fisher Collection" at Guernsey's in New York yesterday? It looks like 75 of the 125 lots failed to get a bid, including many of the silver cobs, and everything with a start above $100,000. What happened? Were the pre-sale estimates too high, falling metals prices, or maybe all of those counterfeit pieces handled in Key West during the 1980's and 1990's?

 

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[TreasureCDave]

Thats disappointing. I know Taffi had high hopes too as a portion of the proceeds were to go to benefit the Michael Abt, Jr.. Have a Heart Foundation.

 

[goldnsilver]

Yes, it was disappointing. Maybe Guernsey's will be able to find some post sale buyers for those important pieces. A few of the better unsold pieces with opening bid include: Gold Chalice - $350,000 Gene Lewis Emerald - $225,000 Gold Disc - $110,000 Gold Disc - $80,000 Gold Chain - $60,000
Deo's Gold Chain - $27,500 Gold Filigree Pyx - $60,000 Gold Spoon - $50,000 Square Emerald Ring - $47,000

 

[theseeker]

I wonder why they didn't use Sedwicks?

 

[Darren in NC]

The market will pay for fair prices. Over inflated prices will get ignored by those who know better.

 

[huntsman53]

Anybody following or bidding in the auction of the "Mel & Deo Fisher Collection" at Guernsey's in New York yesterday? It looks like 75 of the 125 lots failed to get a bid, including many of the silver cobs, and everything with a start above $100,000. What happened? Were the pre-sale estimates too high, falling metals prices, or maybe all of those counterfeit pieces handled in Key West during the 1980's and 1990's?

The statement in bold is possibly one reason and the fact that there are many of these pieces still out there, some of which were graded and certified as authentic. Also, Darren in Trinidad hit on another great possibility when he wrote "The market will pay for fair prices. Over inflated prices will get ignored by those who know better".


Frank

 

[Au_Dreamers]

I think you must be getting invalid information from the auction site's software.

You need to have an account and log in to see the actual bids and sold prices.

Many of the items you posted were the final sales price after much bidding not the opening bid. As an example the pyx piece had a starting bid of $20k and sold for $60k

I believe there were only two items that didn't sell.

I personally know more than one person bidding on items and watched the auction live. There was plenty of bidding and many prices were pleasantly surprising... for someone that turns treasure into an income.

Rough calculations I've heard is around $1.5 million for the auction sales

-Cheers

 

[CaptEsteban]

This is from " Florida Keys News ."

Fisher treasure auction nets $2 million | KeysNews.com