15 April 2021
Heritage Auctions, one of the USA's largest auction houses, has reported total first quarter sales of $337,410,572, an increase of 16 percent over the same period last year, with rare coins contributing to the impressive results.
According to the auction house, the revenue was driven by world record-breaking sales of U.S. and World & Ancient coins, Comics & Comic Art and Sports memorabilia.
Even throughout the COVID-19 pandemic, sales show steady, year-over-year first quarter growth, the report explained, from a 7 percent increase from 2019 to 2020 to this year's 16 percent increase.
Steve Ivy, CEO of Heritage Auctions, said:
'This double-digit growth comes at a time when Heritage is making its most significant moves in the last forty years. The remarkable results also speak to the innovative and tireless teamwork of Heritage's employees.'
As anyone who reads the numismatic press can tell you, a tremendous amount of rare coins are being sold globally, so who is making these eye-watering purchases and is it a sign that the coin market is healthier than ever?
Heritage started the year setting world records among sales of U.S. coins. In January, the firm set the world record when it sold the world's most valuable gold coin for $9,360,000. It was the finest example of the famed 1787 Brasher Doubloon, and was won by a bidder who had never before purchased a coin at auction. The Doubloon took top lot honours in the firm's Jan. 21-25 numismatic events which totalled more than $90.68 million.
"The winner was overjoyed," said Greg Rohan, President of Heritage Auctions, who fielded the phone bid with the successful buyer of the Brasher Doubloon. "All told, the new client purchased almost $12 million in U.S. coins."
The world's most expensive British coin, which sold for $2.28 million in March, set the high-water mark for Heritage's presentation of the Paramount Collection, a grouping of more than 700 world and ancient coins widely considered the finest offered at auction in at least a generation.
The collection of world and ancient coins surpassed $41,941,592, setting world records for the most expensive coins sold from at least 12 different countries.
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