Superior Galleries Realizes Record Prices in May 28-30, 2006, Beverly Hills Auction.
The auction was held in Superior Galleries' newly renovated, state-of-the-art auction room and retail gallery in Beverly Hills, immediately prior to the May 2006 Long Beach Coin Expo.
Several consignors to the sale attended the Monday evening gold session and watched their coins rise to prices far in excess of their expectations, as aggressive bidders competed fiercely for fresh, high-quality coins that are becoming increasingly difficult to obtain. The standing-room capacity crowd of live bidders broke into applause on several occasions after eager buyers won coins at especially high prices.
The marquee Good River Collection realized a stunning $3,183,631, with active bidding from live and telephone bidders, and through Superior's website and eBay live.
Other notable collections which exceeded their pre-sale high estimates included:
The Wasatch Collection of United States Proof Gold Coins The Springdale Collection of Early US Gold Coins The Rosene Family Collection The Stanley Kanney Collection The James Newton Howard Collection The Bloomfield Hills Collection The Bayou Saint James Collection
Each of these collections realized between $250,000 and over $1 million. In the aggregate, over 98% of the noted collections were sold by lot and value, a truly remarkable result. Some individual highlights from this auction include but are not limited to the following lots:
Lot 285 1794 Half Dime NGC MS67, ex Good River $143,750 Lot 422 1858-S Liberty Quarter ANACS MS61 $ 32,200 Lot 554 1794 Half Dollar PCGS VF25, ex Rosene Family $ 27,600 Lot 941 1876 Pattern Double Eagle J-1492 PCGS PF64 $ 64,400 Lot 952 1862 $20 Liberty NGC PF64, ex Stanley Kanney $241,500 Lot 988 1796 $2.50 No stars PCGS AU58, ex Springdale $126,500 Lot 989 1796 $2.50 No stars NCS AU50 $ 93,150 Lot 992 1808 $2.50 NGC MS62, ex Springdale $218,500 Lot 1053 1914-D $2.50 PCGS MS65 $ 43,700 Lot 1063 1860 $3 Gold PCGS PF65 $ 82,800 Lot 1083 1879 $4 Stella Flowing Hair NGC PF63, ex Good River $149,500 Lot 1086 1797/5 $5 Large Eagle PCGS AU55, ex Springdale $120,750 Lot 1104 1821 $5 NGC MS62, ex Springdale $155,250 Lot 1181 1795 $10 13 leaves NGC MS63, ex Springdale $299,000 Lot 1192 1803 $10 large rev stars, Taraszka 32 PCGS AU58 $ 98,900 Lot 1213 1907 $10 Indian Wire Edge PCGS MS65 $ 80,500 Lot 1224 1911 $10 Indian PCGS PF64, ex Bloomfield Hills $ 50,600 Lot 1271 1882 $20 Liberty NGC AU58, ex Bayou St. James $ 75,900 Lot 1372 1907 $20 High Relief PCGS MS65 $ 66,700 Lot 1391 1908 $20 St. Gaudens NGC PF67, ex Wasatch $ 82,800 Lot 1471 1855 Wass, Molitor $50 NGC MS60m ex J.N. Howard $161,000 Lot 1474-1483 Double Pan-Pacific Set, sold individually, ex Good River $768,401 Lot 1490 1795 Flowing Hair 2 leaves PCGS MS63, ex Good River $112,700 Lot 1800 1889-CC Morgan Dollar PCGS MS64 $ 50,600 Lot 2031 1921 Peace Dollar NGC MS67 $ 33,350
Commenting on the auction results, Executive Vice President and COO Larry Abbott commented, "Success in the auction business is really quite simple: offer plenty of fresh material in the sale, and pay attention to your customers. Increasingly, consignors are rewarding the efforts of our outstanding auction team with high-value, high-quality consignments. We couldn't be more pleased with the results of this sale, and we look forward to presenting Part II of the Good River Collection in our August Denver Elite Sale, just prior to the summer ANA convention. Given the many other top-quality consignments that our clients have already placed with us for that sale, bidders can expect another large and diverse offering of the finest rare coins from Superior Galleries in August."
For further information about this Beverly Hills Elite Auction or to consign to Superior's future Elite Auctions, please contact Paul Song, Vice President of Auctions, at 310-203-9855 or email@example.com.
Superior Galleries, Inc. is a publicly traded company, acting as a dealer and auctioneer in rare coins and other fine collectibles. The firm markets its products through its prestigious location in Beverly Hills, California, and the Company's web site at sgbh.com.
Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including express and implied statements concerning future growth potential, future revenues, income, results of operations, expansion plans, and expectations. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that the expectations reflected in such forward-looking statements will prove to have been correct. These forward-looking statements are subject to certain risks and uncertainties, including market and other conditions that may affect our ability to expand our auction and dealer activities and control our operating costs and risks identified in our SEC filings. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors, including sales levels, operating costs, distribution and competition trends, consumer preferences, and other market factors. Past sales performance may not be indicative of future results. No assurances are given that sales trends or sales performance on behalf of consignors or customers will continue.
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|Date:||Jun 1, 2006|
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