Champion Auctions delivered everything promised.  This was the largest sale of Modern Chinese coins ever to take place.  Many people did not think this many coins could be absorbed by the market.  Not only were these coins absorbed, but at record prices for many of the coins auctioned.  The bidding was intense as everyone competed for these ratities.  In general, 5 oz Gold attracted most of the attention.  As I mentioned in a previous blog, these coins are way undervalued.  My projection is $225,000 in the next 12-18 months.  Well, we are on the way and some of these coins have even surpassed this amount. 

In my opinion, the highlight was the 18 tael Kwan Yin.  I have never seen this coin before.  Many long time dealers and collectors mentioned the same.  The recorded mintage is only 88.  So either this was not fully minted or once you own this coin, you never sell it.  How else can it be explained that this coin has never been seen by many?  This sold for $575,000!!!  This is still cheap for a coin that is this big, this beautiful and this rare.

This auction was dominated by collectors.  These collectors must have been saving to purchase these coins in auction vs. purchasing directly from dealers both prior to and after the auction.  Therefore, there is a temporary softening of the market.  I expect prices to regain strength as we head into the New Year. 

Majestic Rarities was very happy being an event sponsor for this incredible event.  We are very active and continue to learn through working with the overseas markets.  We are fortunate to play a big role in the exchange of communication.  If you aren't constantly learning, you won't have the knowledge necessary to make good decisions and the ability to advise those who have questions.  Many people only look at the price of a coin.  We look at having a package of being able to give sound advice, coupled with an incredible inventory.  If you only purchase based on price, you miss the big opportunity of learning.  Learning is the key to making better decisions.     

If you have questions, please contact us - Collect, Invest and Have Fun.....................