Sedwick Auction #7 Realizes $1+ Million, 94%+ Lots Sold

Winter Park, Florida. — Daniel Frank Sedwick, LLC announced this week that their seventh Treasure Auction on April 7-9 realized $1.37 million (including buyer’s fees, same for all prices quoted here) and over 94% of the 2160 lots sold, well exceeding the pre-auction estimate.

"Our latest auction proves that world coins and treasure items are still strong," said Daniel Sedwick, company principal and founder, "and that we achieve consistent results.

This is our second auction in a row that reached over $1 million with a 94% sell-through rate, which is remarkable and a testament to the hard work we put in, both to get great consignments and to do what it takes to sell them all." 

Sedwick also pointed out that many sections like shipwreck coins were complete sell outs and brought record prices, particularly the Karl Goodpaster estate of 1715 Fleet silver coins.

Gold cobs, as always, fetched strong prices, with the two featured Peruvian specimens from the Frank Sedwick estate realizing $19,550 (8 escudos 1712) and $18,400 (4 escudos 1711, finest known).

Perhaps the most interesting coin in the sale was a Mexican cob 1 escudo from the 1715 Fleet that was flown to the moon aboard Apollo 14, and that coin brought $8,625. Most of the money, however, was in gold and silver ingots, including the highest priced lot in the whole auction, a naturally coral-encrusted "clump" of two complete gold bars from a mid-1500s Spanish wreck that brought $112,125. Many museum-quality artifacts sold for up to 5 times the high estimates. 
 

Sedwick’s assistant Augi Garcia pointed to several unique factors for the success of their auction, including video lot viewing and illustration of all lots, but particularly the concept of live bidding via the Internet:

"People love bidding online, at their computer, in the comfort of their own home or office, even from their iPhone. At times we had more people actively bidding online than you see on the floor of a typical world-coins auction at a major coin show." 

A very strong online thrust via the Sedwick website as well as the bidding platform iCollector attracted over 25% new bidders from around the world. Also of benefit was lot viewing at the Baltimore show in March.

Consignments pledged or already received for Sedwick’s Treasure Auction #8 in October (consignment deadline July 31) indicate that it will be another big event, with still more improvements and innovations in store.

"Our goal is constant improvement through technological innovation, while retaining good old-fashioned personal service," says Sedwick, "and that formula is hard to beat."

Highlights from Treasure Auction #7 include (in order of price realized):

Prices realized for all lots sold in Treasure Auction #7 are available online at http://www.sedwickcoins.com/treasureauction7/pricest7.pdf.

# # #

About Daniel Frank Sedwick

Daniel Frank Sedwick, LLC is the world’s premier specialist in the colonial coinage of Spanish America, shipwreck coins and artifacts of all nations. In addition to an Online Store, Daniel Frank Sedwick, LLC sell coins and artifacts at various numismatic shows around the nation.

Daniel Frank Sedwick, LLC also has the honor of being the only auction company in the world specializing in Authentic Treasure. Auction catalogs are accessible on the web and printed in a high-quality format with full-color illustrations for all lots.

In addition to publishing several catalogs per year, Daniel Frank Sedwick is a regular vendor at major international coin shows, including FUN, CICF, and ANA. Until early 1996, Mr. Sedwick worked in partnership with the late Dr. Frank Sedwick, who began the business in 1981 and became known as a pioneer in the field of Spanish colonial numismatics with his book, The Practical Book of Cobs.

The fourth (2007) and third (1995) editions of this well-known book were authored and co-authored by Daniel Sedwick, who is also a contributing editor to The Numismatist.