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DNW April Auction

Posted: 10 Apr 2018 23:19
by gaelicyoda
So I don't know how many folks on this forum were in attendance today at the DNW auction (I suspect at least a few!) but can anyone explain to me what on earth I witnessed? Did they change the currency to monopoly money when I wasn't looking or something?

Some of the highlights of the 10 shilling notes:

- 12.12.45, gF: £1700 + fees (est. £300-£400)
- 13.08.46, aF: £2600 + fees (est. £200-£260)
- 24.01.50, gF/VF: £1700 + fees (est. £240-£300)
- 01.05.36, gF: £1700 + fees (est. £200-£260)
- 07.04.37, GVF/EF: £1700 + fees (est. £240-£300)
- 04.08.37, VF: £1100 + fees (est. £150-£200)
- 01.12.41, F: £1100 + fees (est. £100-£150)

... and that's not counting the numerous £600-£900 estimate smashers that we're in the mix as well!

Only one of the C Series replacement notes sold, and ploughman notes at £80 received no bids... has the world gone insane?

Re: DNW April Auction

Posted: 10 Apr 2018 23:55
by Mac
The focus was definitely on the 10 Shilling notes there.
Apart maybe from 1.12.41, which is a very rare date, these prices are way over the odds! The first three dates are very rare, but these prices are totally anomalous.

Auctions can be unpredictable, I suppoes bidders can lose the run of themselves, and you only need two buyers to push a price into orbit.
1.5.36 and 7.4.37 went for four times what I would have put their value at.

There were also a good number of post-war 10/- notes which fetched around £200 each, very high prices.

Re: DNW April Auction

Posted: 11 Apr 2018 00:39
by gaelicyoda
... and I think that's actually exactly what happened today.

From the auctioneer's commentary, there seemed to be two main bidders with extremely deep pockets that drove these crazy prices - one on the phone and one at the back of the room - that vacuumed up the majority of the 10 shilling notes on offer between them (and almost certainly anything that went over £400-£500)

But you've really got to wonder - either these guys have so much money or are such avid collectors that they don't really care about the price, or else they don't know enough about Irish banknotes that it's really wise for them from a financial standpoint to be participating in auctions like this. I think in any case though, they've got to be taking a serious bath on their purchases today at some point in the future.

Re: DNW April Auction

Posted: 11 Apr 2018 00:42
by gaelicyoda
... by the time the other Lavery's and ploughmans came around, it felt like everyone was kind of in shock :D A few bargains to be had there towards the end.

Re: DNW April Auction

Posted: 11 Apr 2018 20:43
by DOC
I did not have the opportunity to attend the live auction but I am sure it would have been entertaining. The 10/- note prices were all over the place as you would expect when a few collectors with deep pockets wish to buy regardless of cost. Some of the early Irish notes in good condition also did very well such as the 1924 National Bank £10 and 1916 Belfast Banking Company £1. I am sorry to have missed out on some of those Ploughman notes at bargain prices ;)

Re: DNW April Auction

Posted: 16 May 2018 20:03
by ThePloughman
When the big boys come out to party nobody gets a look in.