Quote from: JohnGalt on February 21, 2024, 12:04:05 AM

Otoh,

Can you briefly describe the process and logistics of auctioning those 250 coins?

I am mostly interested in knowing:

How were they transported to Heritage? What was the security like?
Did you end up receiving more or less than the value of the BTC from the auction?
Were there any costs to you?

I still have that bar and I don't feel comfortable holding such a valuable item, but I would hate to peel it. Perhaps I could auction it on Heritage.

Sure, I took the coins out of my private bank's safe deposit box and met up with Heritage's London director, Sara, at the bank's secure meeting room, I'll PM you the exact place in case that was convenient for you to use as well, we chatted with Heritage head office in Dallas to sort out the fine details of the deal, though those also got tweaked a few times right up to the sale itself, she took delivery from me right there and gave me a receipt to itemise them and showing that they were now insured for their bitcoin spot price @ $30,000/BTC = $6M, she either took or had them shipped to Dallas at Heritage's expense and handled any and all paperwork involved in that, because I consigned them from my tax haven fiscal location there was no US, or other jurisdiction's, income or capital gains tax liability on the sale, even though the auction took place is the States.

Because of the deal I made, which guaranteed me a minimum of the bitcoin spot price at the time of the sale, and then a later deal with guaranteed me a large lump sum to be paid to me in two weeks, plus for any unsold coins to be returned to me the whole working out of the accounts was rather convoluted and complicated, I also got 50% of the buyer's premium paid to me after 45 days, the bitcoin price was rising so fast and much that it all ended up very positive for both Heritage, myself and all of the buyers as well.

I didn't pay any shipping or seller's premium, I was meant to be charged for the NGC slabbing, but haven't gone through the settlement accounts yet to see if i actually was and how much if so, I don't think that I paid anything towards to catalogues printing and photography, etc, but again would need to check that to be sure.

Basically you'd need to negotiate your own deal with them, unless you did it through an agent who'd do that on your behalf.

Hope that this helps, will PM some more details...