Sold again. Why?

[Valentinian]

I have seen a coin for sale in a major auction that is listed as having previously sold in an auction by the same firm only 9 months before. If it were listed as "unsold" I can see them trying again. But, it was listed as sold with a PR. I don't know if it is relevant, but the PR the second time was much less than the listed PR the first time. 

So, how is it that a coin can be is offered again so soon after its previous offering? 

[Cordoba]

is this naumann? they're pretty notorious for doing that. seems they have a secret reserve and buy back and relist a coin if it doesn't hit it.

Edited December 15, 2023 by Cordoba

[John Conduitt]

The buyer didn't pay? Or changed their mind? Or died?

I would guess most of those Naumann ones are unsolds.

Another odd one is Roma, where before the 'trouble' they (or their associates) seemed to buy their own coins at high prices and then sold them again after the 'trouble' for less.

[Brennos]

They are fake sales due to hiden reserve prices.

Edited December 15, 2023 by Brennos

[TheTrachyEnjoyer]

10 hours ago, Brennos said:

They are fake sales due to hiden reserve prices.

Interesting. I am following another lot that has been sold in consecutive sales at Leu before heading Naumann. I wonder if they have some sort of arrangement to change the venue for these coins that obviously have a reserve not being met 

[ambr0zie]

In the cases of reoccurring coins I think there are 4 possibilities 

1. the coin was not paid by the winner. I have a few (budget) examples in my collection offered by the same houses a short time before. The hammer prices were similar and in some occasions I paid a little more, on others a little less 
2. the house buys "for stock" from their own auction - a practice that's common, from what I know, but unethical. So they see if the hammer price is OK for their expectations, if not, they bid to offer it in future auctions. I find it unfair, but I can't do much against it. Conclusion - a coin can only be sold at a price decided by the house. If it's not met, they will intervene. Let's not forget they don't pay premium to themselves.  
3. If there is a distance between the auctions, it could be simply the case of the winner consigning the coin again to the same auction house, perhaps he found a better example from elsewhere, doesn't want the coin in the collection or whatever. 
4. Reserved price. This beats me. If I want to sell a coin for, let's say, 2000 euros, it makes more sense to put the starting price 2000 euros, not 1, 50, 100 or 1999 euros and then refuse to actually sell the coin if it doesn't reach 2000. 

[Valentinian]

On 12/14/2023 at 4:02 PM, Valentinian said:

I have seen a coin for sale in a major auction that is listed as having previously sold in an auction by the same firm only 9 months before.

Thank you for all the responses. It wasn't Naumann. and I don't want to suggest misdeeds of the firm, but I still wonder why it happens.