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We Chew And Spit You Out! (Again)

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Fenntucky Mike

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Back at the auction frontlines.... I'm still striking out, but there were a few interesting occurrences and a high end note that sold. 

In late September/early October a Ukraine P50 was listed at HA, I believe the preauction estimate was $1,500 - $2,000. I wasn't seriously bidding on this and placed a midrange preauction bid, when the day of the auction arrived I had been out bid by $700 lol and sat and watched the note sell for $4,320 with BP! I was never a contender on this one. I wasn't surprised by the preauction estimate, as that is right in the ballpark for what this note typically sells for, but to double the estimate. WOW! :whatthe: 

I always think of this note as the MAD Magazine note, because of the depiction of the young boy reminds me of MAD Magazine's fictitious mascot Alfred E. Neuman (no relation to Eric P. Newman lol). I just know that if the cap was removed from his head two giant ears would be revealed. You read it here first P50 is now going to be referred to as the "MAD" note. ;)

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I've been tracking "MAD" notes for a while now and the trend has not been good, for me, the price has been going up based on the limited data that I've put together. Overall, along with everything else, prices realized for Ukrainian notes have been trending upward. :frustrated::bigsmile::frustrated::bigsmile: The other interesting thing is that all the notes are within 2 digits of each other so far, of all the MAD notes saved I wonder what the serial number spread is? All of these were probably from the same brick of notes and all have graded 64 to date...

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Next on the list of swings and misses was a 200 Karbowanez from the same series, 1942 issue, being offered by S&B. This note was graded PMG 58 EPQ with a preauction estimate of $100-$200. The preauction estimate, again, was a fair number when compared to grades and prices realized on other notes I've seen. I placed a pre-bid slightly above the high estimate and waited to see what happened. Well, I eventually lost and was outbid prior to the auction, the note ended up selling for $312 including BP. Again, a pretty healthy price for that note considering that note, graded PMG 50, sold at HA for $132 with BP not that long ago. I guess the higher grade and EPQ designation would account for most of that increase but I saw a 63 EPQ go for less around 3 months ago. Anyway, I lost again. (shrug)

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Finally, this past Thursday I was outpaced on a couple of lots over at World Banknote Auctions. One a P115 (PMG 68 EPQ) and a P114a (PMG 67 EPQ), both with auction estimates of $30 - $40, again a fair estimate. I have both notes graded already but each would have been an upgrade, so I placed a pre-bid slightly above the high estimates for both and sat back and waited for the news. :whatev: Yep, out bid again. Looks like the P115 sold for $69 with BP and the P114a for $63.25 with BP. I also noticed that one of these notes ended up in the registry set of a fellow collector, well done my friend. I doff my cap to you. :golfclap:

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On a side note I did have a few big wins in regards to auctions containing raw notes and I'll have a Journal entry or two about those in the next week, in the meantime, back into the meat grinder for me and we'll see what happens as the next lots of Ukrainian banknotes go up for auction. Hopefully I don't get Chewed Up and Spit Out again. lol

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I think I'm happy enough just digging through my lots of raw z coins and staying out of it. There's been some stuff popping up for Zimbabwean notes and I'm just like, "that's nice, but I think I'm good focusing my budget on my coins."

I'm honestly starting to think I'm done on the notes end for a bit unless I catch a favorable deal on a VEN104 or VEN114.

It's feeling like a long wait for Monday to get some final resolution on that order we've been discussing.

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On 10/30/2021 at 5:48 PM, Revenant said:

I think I'm happy enough just digging through my lots of raw z coins and staying out of it. There's been some stuff popping up for Zimbabwean notes and I'm just like, "that's nice, but I think I'm good focusing my budget on my coins."

I'm honestly starting to think I'm done on the notes end for a bit unless I catch a favorable deal on a VEN104 or VEN114.

I'll be busy with notes for another year, but the volume will be much less compared to years past. I'm getting close to the end with my Ukrainian banknote collection and have been gradually shifting my attention more and more to my coin collections. I kind of like to shift focus every year or two to keep things interesting, sometimes you just need to take a step back for a little while. I'll still be looking to enhance my Ukrainian note collection with some sweet errors and I'll stay up to date with it as I move to coins for awhile. I tell yah, finishing those Zim sets really took it out of me as well. :baiting:

On 10/30/2021 at 5:48 PM, Revenant said:

It's feeling like a long wait for Monday to get some final resolution on that order we've been discussing.

Anything word?

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On 10/31/2021 at 7:43 AM, Fenntucky Mike said:

Anything word?

They were only getting back from being on the road yesterday and their last email said Monday, so I'm just going on Monday. (shrug)

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