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Why, Why, WHY!...... And It Makes Me Wonder......

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Fenntucky Mike

Entry posted by Fenntucky Mike ·

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Sigh..... Well, I did it again. Went and completely shot myself in the foot AGAIN. Arrghh! :frustrated:

A few weeks ago I wrote a journal entry about how I have been getting skunked at auctions lately and I also eluded to a group of Ukrainian notes being auctioned by Heritage Auctions, a group of WWII issued karbowanez banknotes. Journal entry here...

I had bid up the notes that I was going for (Way UP!) and had put noncommittal bids on the other lots. Well guess what? While scouring ebay I came across a group of Ukrainian notes. Karbowanez notes. Very familiar looking notes and all new listings. Yep, the same notes I had bid on at the Heritage auction! :cry: Well, this just vigorously inhales! :frustrated:Someone I was bidding against bought these notes to resell on ebay to a Ukrainian banknote collector, like me! :facepalm: The notes were listed on Sept. 22.

Karbowanez.png.a00809e0577b4f1ce8ad42d569c23b3f.png

The 10 and 20 karbowanez were sold as a single lot by Heritage and I wasn't particularly interested in acquiring them so I placed a lowball bid on this lot, hence the winning bidder got these for a decent price and was able to list these on ebay for a reasonable price. The 10 karbowanez has already sold and the 20 will follow soon. I wasn't particularly interested in the 50 karbowanez either as it was not in a grade I wanted, and no EPQ is a bit of a deal breaker for me, so I placed a lowball bid on this note as well. The note sold at Heritage for a low price and is listed on ebay for a fair asking price. This note will probably sell after the 20. The 100 karbowanez is a very attractive note with the grade to prove it, I bid this one up to a respectable price level and it sold at a slightly higher price than others in similar condition, a fair price, but maybe $40 more than I would have expected it to sell for. Since the bidding was higher at Heritage for this note the Buy It Now price on ebay is probably $100 above what I would expect. This note will probably sit for a while but may eventually sell. Finally the 50 karbowanez, one of the three lots I bid way up, a note I would have liked to of won at Heritage but unfortunately lost, and am now forced to look at it on ebay at a ridiculous price. :frustrated: Well, I currently have zero intention of purchasing this note at that price but I will keep an eye on it and maybe, just maybe if it sits unsold for an extended length of time the seller will drop their price or will be willing to deal, but I doubt it. If I hadn't bid this note would have sold for a lot less, I'd bet over $100 less.

Yah see, I don't mind a guy or gal trying to make a buck, and I would have gladly paid that buck if I hadn't bid big bucks causing me to not have enough bucks to buy the karbowanez bucks. See. lol:frustrated:lol:frustrated: I probably screwed two people over on this one, me and the seller. I wonder about me sometimes.....:insane:

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Revenant

Revenant

Posted (edited)

Well, he apparently bought a bunch of notes he didn't want and, while he might make some money on some of them, if he takes a bath on the one you bid up I'm sure he's not gonna pocket much for the time and effort and being out his cash a while.

You didn't get the notes you wanted this time but you can just wait - always more opportunities, my friend. 

So... did you win anything at an inflated price??? The post leaves me a bit unclear on this.

The real winners here will be Heritage and eBay, who will pocket fees every step of the way while we smack each other like stooges. :kidaround:

Edited by Revenant
Fenntucky Mike

Fenntucky Mike

Posted

On 10/2/2021 at 9:25 PM, Revenant said:

So... did you win anything at an inflated price??? The post leaves me a bit unclear on this.

Nope, didn't win a thing. :frustrated:I'll just keep biding my time, eventually I'll acquire the notes I was going after. More than likely I'm going submit my own notes and call it good.

Fenntucky Mike

Fenntucky Mike

Posted

On 10/2/2021 at 9:32 PM, Capone1929 said:

I didn't bid on most all! Paid cash for every one! Collection of over decades of time!

That's probably the best way to do it. Get raw notes and just keep them or have them graded.

Revenant

Revenant

Posted

On 10/3/2021 at 8:07 AM, Fenntucky Mike said:

Nope, didn't win a thing. :frustrated:I'll just keep biding my time, eventually I'll acquire the notes I was going after. More than likely I'm going submit my own notes and call it good.

You just have to ride it out. It stinks but... funny thing being there were p-40, p-45, and p-46 zimbabwe notes I could have bought instead of grading my own. As Bonez did apparently. I just absolutely wasn't willing to pay the stupid money some people were demanding for "bleh" grades.

Fenntucky Mike

Fenntucky Mike

Posted

On 10/3/2021 at 2:10 PM, Revenant said:

You just have to ride it out. It stinks but... funny thing being there were p-40, p-45, and p-46 zimbabwe notes I could have bought instead of grading my own. As Bonez did apparently. I just absolutely wasn't willing to pay the stupid money some people were demanding for "bleh" grades.

The stupid money is definitely a roadblock. It's weird as I've been reluctant to submit raw notes to PMG for some reason, I think mainly I hadn't built up a good stock pile of raw notes and it costs more to have notes graded through PMG compared to coins at NGC. The last time I looked it cost more, anyway. (shrug) Also, Ukrainian notes were stupid cheap a year or two ago, now not so much...

Revenant

Revenant

Posted

On 10/3/2021 at 4:43 PM, Fenntucky Mike said:

The stupid money is definitely a roadblock. It's weird as I've been reluctant to submit raw notes to PMG for some reason, I think mainly I hadn't built up a good stock pile of raw notes and it costs more to have notes graded through PMG compared to coins at NGC. The last time I looked it cost more, anyway. (shrug) Also, Ukrainian notes were stupid cheap a year or two ago, now not so much...

NGC is $18 for modern coins where PMG is $20 for modern notes. So, higher but not really a big deal. I'm mentally expecting to pay $20/coin to submit z coins next year as I'm expecting a price increase. 

The dealers like notes hobby can submit in bulk for $13-14 per note, which is why it tends to be cheaper for us to buy from them than self-submit for most cheap modern stuff. (shrug) At the point where I can get a guaranteed 68EPQ for $35 I'm not going to pay $20 + note cost + shipping to take a chance.

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