Banknote Auction Malaysia, First One Ended on a High Note.

Instead of the usual article, I feel that a Q&A may do better justice and also easier to refer to. Let’s talk to Mr. Stephen Soon the Managing Director of MNP Auctioneers about the very first Banknote Auction in Malaysia. Personally, the results were way above my expectations. I did expect some of the notes to overhit RM10,000 but last weekend was a gathering of all prominent numismatists and the final results were way above everyone’s expectations. I think what happens after the below is that you will start noticing all the numbers on your banknotes and you would be keeping it if the numbers happen to be what is needed below. Crumpled banknotes may not work though.

IMG_2527-compressed1) Was this event considered a success, huge success or unbelievably successful? Why do you say so?

The event was a huge success, not from our mouth but the bidders! We had approximately 290 registered bidders which is by the highest attended banknote auction fair in Malaysia. According to some of the prominent numismatists, the selling prices are far beyond their forecast, they called it “unimaginable”. All the 231 lots were fully taken. Even the 11 Lots that encountered slight damage were also sold off like nobody business. One big time collector told us that public auction is indeed a true platform to uphold the value of the banknotes collection.

 

IMG_2434-compressed2) What was the top 3 highest bidded lots. What was the main reason(s) for them?

AA2222222 (RM100) sold at RM18,500
AA6666666 (RM100) sold at RM20,000
AA9999999 (RM100) sold at RM20,000

It was due to super solid number (solid number + same prefix). Apparently many Malaysian bidders preferred the prefix of AA. Maybe also because these lots are the final 3 lots before the auction calling to an end and collectors didn’t want to miss every opportunity. In addition, RM100 denomination has only 14 lots, the lowest volume among the other denominations)

 

IMG_2504-compressed3) List down the top 10 highest bidded lots and tell us if the winners are Malaysian or non-Malaysian.

Other than the 3 that listed in your question 2..
AB8888888 (RM20) sold at RM16,500
AA6666666 (RM5) sold at RM16,000
AA2222222 (RM20) sold at RM15,500
AC8888888 (RM20) sold at RM14,500
AB0000001 to AB0000010 (RM20) sold at RM14,000
AC8888888 (RM100) sold at RM13,500
AC0000001 to AC0000010 (RM5) sold at RM12,500

We have not sort out the final account yet but based on the information on hand, there is one Singaporean among the top 10 lots mentioned here, the rest are Malaysians.

4) When is the next event and would there be anything special that you will be doing for it.

We will inform the public upon receiving new instruction from BNM. We hope to enlarge our A&P activities to create more awareness to the first-time collectors.

 

interview conducted on 30th Sept 2014

Next suggested article: Investment in Bank Notes with special serial numbers, interested? Why not?

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