Silver Stackers

Complete Historical Figures Set sells for US$5227.00

I would prefer to buy the graded set rather than raw.

There is a double sealed set right now going for Us$1288 and the seller is from Taiwan.
Why doesn't he double his money in the mainland?

http://www.ebay.com/itm/1993-CHINA-PRC- … 8903842961

Than you could easily get a set around $400-$500.00

Another questionable price

1986 Historical figures set sells for Us $1587.00!!!!!!!
http://www.hosane.com/productdetail.asp … 80&Page=12

I bought a complete PF 69 NGC graded set for $450.00

Being at the auction in person makes a difference. Especially when you can inspect the coins.

I was at this auction, and know some of the people that organized it.

I trust them enough that I'm confident that i will be selling some of my collection there next round.

I don't agree with the bribe idea being passed around in this thread:
1. There are easier ways to pass money to someone.
2. Neither party to a bribe wants a paper trail, and that is what is generated at an auction.
3. An auction is an incredibly expensive way to pass a bribe, hosane gets 10% from the seller and 15% from the buyer... Incredibly expensive way of slipping cash to someone.

Hi Chris,

agreed that it's off the topic as it's a panda forum

however, it's somehow relevant to all MCC investor/collector to understand the reason behind massive price discrepancy evidenced in auctions. image someone who is unfamiliar about this paid top dollars for some common coins because of reference to auction house realised price but stunt later only to find out that the "bargain" only worths a friction of the purchase price at the time of resell? It's a crime in China for gov official unable to explaine the source of income (i.e. officers receiving large amount of money without a valid reason is a crime) but Discipllinary Committee of the Chinese Communist Party will regard auction income as a legitimite income thus both parties involved in auction, even with paper trail, will be trouble free.

I am not saying that all lots in Hosane auction are bribes or trying to bring down MCC collectors passion, i am just trying to offer an alternative view into understanding auction results and caution everyone to do the research before giving away their hard earned money.

if you do not like it or feel offended in any ways, feel free to delete the post

cheers

Roy

Hi Peter, you mentioned in CCF that Pricepedia will not report some prices from this auction. Any reason for that?

Thanks Griffon for your courtesy, politeness, and your thoughts.

I just don't agree that the bribe hypothesis is the best explanation behind the high prices for some coins.

In my opinion, it is more likely the case, that we don't fully understand what is desirable in the Chinese Modern Coin scene.

For example, many Chinese wouldn't understand why a specific Australian 1930 penny would go for $100,000AUD, while most other pennies go for pennies.

Similarly, receiving bribes through auctions wouldn't be very smart.. because that would incur massive Capital Gains Tax plus a lot of red flags (plus a whole lot of commissions to Hosane).

Thanks Peter for that clarification.

lets talk   I love those prices , I have no problem sending coins to you to auction for me and I will gladly pay commission to you my friend ,those prices are wow:),I have RMB account on mainland:)

Has anyone thought of the principle of Occams Razor which states 'All things being equal; the simplest explanation is usually the right one'. How simple would it be for a group of people to pay unrealistic prices for items in a small auction for the purpose of showing 'huge' price gains thus unloading their own items for overvalued prices (using this auction as a basis). Simple pump and dump and not expensive compared to potential returns. Please note: Just my opinion if we are looking for conspiracies.

The theory of huge wealth and huge population GETS MY VOTE,  come here to the US , go to a high end shopping mall ......... Coach, Louis Vitton, stores are bustling  people dropping 2000usd on a handbag......10K on luggage, 90% of the clientel are Asian and 90% of them are chinese.........  New found incredible wealth all over China , I just had chinese visitors  who are in electronics biz , these ladies are in their mid 30,s , buying diamonds ,high end watches etc to the tune of 50,000.00 in 1 day........ these same folks are dying to convert a big portion of their wealth out of RMB to hard assets..........  what do they care if they pay to much for something they know will appreciate in value ..............