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The seller, who goes by user name EWAAN Galleries, sold the coin on consignment. “The current owner is very happy with the price achieved”, he reported.
EWAAN Galleries placed the coin on auction on bidorbuy with the starting bid of R450,000 on Friday 23 July. The 1902 Veldpond immediately attracted the attention of a prospective buyer. Through the bidorbuy “ask the seller” functionality, the buyer inquired what would be the lowest amount acceptable to the seller. After receiving the following reply: “This is a very good price for a stunning coin; place your bid and we may consider closing earlier for you“, the buyer decided not to wait and offered R450,000. The seller was as good as his word. The next day, he closed the auction and the coin went to the bidder.
“This is excellent news for the online coin market, especially in today's economical crisis”, says the seller, EWAAN Galleries, who was also declared as the bidorbuy top seller for 2009.
“As was remarked on our Forum, this sale confirms that bidorbuy is the market of choice for all serious collectors”, says bidorbuy CEO Jaco Jonker.
Also see: the bidorbuy blog post 1 Veldpond = R 450,000.