There are bargains even at the best sales…

It was a very interesting general 527-lot sale and many of the lots contained numerous items. It must have been a nightmare to catalogue, so all the more credit to them. It seems that this accumulation – I can hardly say collection – had not seen the light for at least a generation so it was effectively new to the market, and prices reflected this.

Every single lot sold, which indicates that there were no reserves save at the auctioneer’s discretion. The collective estimates came to €278,770-387,580 and the total realised was €678,010. That is a massive 75 per cent over the top estimate. So, were the estimates pitched far too low? No, I do not think so.

The sale contained many highlights, but there were also many lots which could take time to find a permanent home. Clearly the coin business is buoyant not only in this country but for sure in Italy too.

As we are in Italy, it would be a shame not to report on a fine Roman portrait; one of Augustus  (27BC-AD14) no less. The silver cistophorus (denomination) had an estimate of €400-500. €950 (£627) was required, which is about in line with the collective sale result.

The medieval Senate of Rome issued its own city coinage with a lion derived from a 4th century model when the first St Peter’s was built. A much nicer than usual mid-13th century example graced this sale. It seemed inexpensive at €200 (£132); the estimate was €250-300.

The first Holy Roman Emperor to be crowned in Rome by the pope was Charlemagne on Christmas Day 800. The last was Frederick III (1453-93), of whom there was a medal with a powerful portrait in this sale attributed to Beroldo di Giovanni. Estimated at €1500-2000, it realised €1100 (£726).

So successful was this sale that I am perversely reporting the bargains. The point of this is to demonstrate that even in sales where prices run away there are things which the alert can hope to pick up.