![]() Jennings said people who sold fakes were "ripping people off for their good money". If on the off-chance an item slips through the cracks and a fake is sold as the genuine article, they refund it. Its policy is to authenticate everything that comes through its doors and it refuses to sell anything found to be a fake. Jennings is employed full-time authenticating coins - known in the business as a numismatist - and bullions at Mowbrays Auction House on the Kāpiti Coast, the largest auction house for rare coins in the country. In his opinion, auctioneers who do not do that "ruin the trust in the collector market and make it harder for genuine people to do good trades". Senior numismatist and expert coin authenticator Liam Jennings told NZME he believed it was an auctioneer's ethical duty to verify that what they sell is genuine. ![]() The buyer purchased a number of ingots similar to the ones pictured. However, some of them believe it's unethical and not the way they'd expect an auctioneer to behave. It's a move that's got other auctioneers of rare goods and buyers of rare coins talking, but experts say the auction house is not doing anything illegal. ![]() The adjudicator also dismissed the buyer's counterclaim for a refund of the first $6000. Lipscombe then took him to the tribunal and won, meaning the man has to complete the sale. He contended the first lot he'd purchased and tested was essentially worthless so he believed it was likely the second lot was the same. The buyer refused to complete the pending sale of $1500. While he was waiting on the results he spent a further $1500 on coins and bullions from Lipscombe only for the results of the first batch to come back with a disappointing result. Lipscombe Auction House in Nelson sells hundreds of rare coins per year, specimens that would go for thousands if they were genuine.īut some of them are not real, as one buyer who spent nearly $8000 on various coins and supposedly silver bullions found out.Ī Disputes Tribunal decision released early this year describes how one man paid $6000 for some coins and sent them away to get tested for silver content. The coin-collecting community is a small, tight-knit and passionate one in New Zealand so when someone starts selling fakes it quickly starts to make waves. ![]() However, a tribunal has ruled it cannot stop the auction house from selling fakes and that it's up to the buyer to do their due diligence. Photo: 123rfĪ small auction house has been accused of selling fake rare coins and bullions which has drawn the ire of numismatists (coin authenticators) throughout the country. A Disputes Tribunal ruling has found a man sold fake coins did not have an avenue for redress against the auction house. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |