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Gentleman's Military Interest Club

utopis

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About utopis

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    Regular Member

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  • Gender
    Male
  • Location
    Germany
  • Interests
    Europe: German states, Republic of Weimar, Third Reich, GDR, Fascist Italy, KuK, Poland, Finland, Estonia, Latvia, Lithuania, Czech, Slovakia, Czechoslovakia, Yugoslavia, Serbia, Albania, Hungary, Bulgaria, Romania, Russia, Soviet Union
    Asia: Japan, Mongolia, China, Thailand, Soviet successor states in Central Asia
    Special Interests: Ukraine, Ukrainian Cossacks, Cossacks in WW2, 1. Galician-SS, ROA

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  1. Well, let's take a closer look at it, shall we: The selling price was 13K, Rauch's fee + vat is 18.3 %, So Weitze paid roughly €15,400 (not counting shipping). I don't know how much Weitze makes a year, but making an educated guess here, I would say that when you count in all the costs (staff, business premises, tax subtractions for all the money spent on future merchandise) and subtract it from his revenue, his total tax rate is probably not that high I'd say something in the mid 30% range. Meaning that he made a profit of roughly 8K. Now keep in mind that the turnaround for that was under a month and the actual time spent on one little item not that much. That is a yield of 53%, 636% extrapolated on the year. But you see, it's not. 30 items require much more work: buying, photographing, creating the description, putting it online, storing it, communicating with the buyer, shipping. This results in a much higher transaction cost because the cost needs to be multiplied by 30! But wait that's not all: seeing as it is not very likely that he will sell all 30 items in one month, 2-6 month is more likely (based on his large client base, though that might even be a little too optimistic), that means that the monetary value of these items is not freely available, i.e. cannot be reinvested until the items are sold. Basically, you are losing money for every month these items lie around unsold, the amount of which is at the very least equal to your average yield on the common ETF, [i.e. between 1.3 and 4% (for 2-6 month respectively - based on an 8% ann. avg., not counting taxes)]. So all in all there's a huge difference whether you sell the same amount as one or as thirty items. In my opinion it comes all down to this: Of course sellers have to set a markup, otherwise they won't make a living, but usually you don't see it done so blatantly; Rauch is the second largest auction house for ODM in Austria, Weitze is the largest seller of ODM in Germany, to see the same item in such a short time frame with a price increase of 100% in such prominent places... Also, and I think this is key here: Weitze didn't provide any service at all. Sure it takes a lot of time and work to create a business like Weitze's - building a huge customer base and reputation. So if collectors, relatives of deceased collectors or relatives of the awardees turn to him to sell something, it's due to his merit (then there is the whole work on the transaction itself). But this is not the case here. The item was already on sale to the public. No one except Weitze really profited from this: not the original seller (the feeling "what he could've gotten" for this), certainly not the buyer (he'll probably never get his money back on this thing) or the potential buyers who where outbid by Weitze at the auction. It's not that due to Weitze's work an item was offered to the collector's market that otherwise wouldn't have been available to the public. Now, don't get me wrong, I fully support it from a pure free-market point of view, that's how the economy works, it's the same as the car dealer of your choice. But just look at the art market to see what happens if this gets out of hand: Paintings that go for millions, are (very often) not bought by collectors but rather by investors (sometimes even worse: money launderers). Meaning that most private collectors who actually appreciate these paintings will have no chance of acquiring them, instead they'll lie around in a vault or will decorate a mansion's living room, at best.
  2. Auction

    Künker is not just a regular seller of orders and medals, it is among the top four (by number of sales and customers) auction houses on this topic in Germany. The other three being Zeige, Thies and Hermann Historica. Künker is regularly selling fakes, not only Russian ones though these seem to be the most prominent. To be honest, I don't believe that they don't know what they are selling - from what I've seen they have considerable knowledge on the topic of orders and medals... but ... ya know, they get 40% of every sold item. Zeige is also selling quite a lot of fakes on a regular basis, last three auction had a few and these are just the ones I remember. The upcoming sale has some, also. Hermann Historica is also known for selling a lot of fakes. Just look at their next sale: fake/fantasy anti partisan badge in diamonds for €50K... Of all these I believe Thies to be the most honest and offering the highest quality items, at least when it comes to German stuff. The only downside is that he is mostly focused on German items.
  3. 11 Enameled Asian War Medals

    How much have you been offered for them?
  4. Thank you for the great pictures. I've heard about that museum but I had no idea that there is actually that much on display.
  5. Very impressive indeed. (That White Lion collar chain!) Did you take more pictures? If so, could you post some more?
  6. ​As Uwe correctly said, "nun erst recht" is a set phrase which best translates to "now more than ever". It has no plural or singular. The key to understanding this, is the word "erst" which is a particle (not to be confused with the adjective "erst" - same spelling - which means "first, at the beginning"). In German, like in English, particles cannot be inflected, therefore there is neither plural nor singular. The only correct translation of "rechts" (with an "s" - either adverb or preposition) is "right/on the right side" as a statement of place. Funnily enough, when first reading the title, a thought passed through my mind that this could be an intentional misspelling to be understood as a word play i.e. the Nazis are on the very right side of the political spectrum/ the phrase on the badge.
  7. My new magnifyer

    Hm, that's quite interesting. So it has some connection ports, right? What about the image quality - how would you compare it to an upper-end-camera?
  8. Sv Sava Diamond

    very niece piece - wish I had known about that auction .... In my opinion, even though damaged, not really that expensive
  9. osmanieh order with brilliants

    Oh, of course I see the differences between the pieces, I simply assumed that this might have been a (doctored) foreign manufactured piece.
  10. osmanieh order with brilliants

    what about these sabers?
  11. osmanieh order with brilliants

    so not even an authentic base. Well at least it's made in good quality
  12. osmanieh order with brilliants

    Due to the irritatingly white look of the stones and the way in which these were attached, I assume that these are modern synthetics which were slapped onto an older piece
  13. osmanieh order with brilliants

    Has anyone ever encountered a bejeweled Osmanieh order like that? I wonder about the imperfections on the golden border, visible on the reverse...
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