MNP AUCTION 14TH JUNE 2015 COMMENTARY

With the recent concluded MNP auction on the 14th June 2015 at Hotel Istana, Kuala Lumpur.
Everyone remembers MNP auction were famous for auctioning "solid numbers" with beyond imagination prices at its inaugural auction last year on behalf of BNM (Bank Negara Malaysia) and singlehandedly driven up all the prices of solid numbers banknotes to the unchartered territory.

Whereas for this time the items (banknotes) were consigned to MNP by collectors and not BNM.
Many solid numbers from the 11th series 2000 of RM1 with a reserve price between RM500 to RM1500, RM10 with a reserve price of RM700 to RM3000 and RM50 with a reserve price of RM900 to RM3000 lots were "passed" without a single bid.

Many collectors were left wondering comparing last year's MNP remarkable inaugural auction all the 12th series banknotes (current series 2012) were bidded from the lowest amount of RM2500 (ungraded) to the highest RM20,000 per piece (ungraded) were sold. How could a current issue 2012 12th series Zeti could fetch higher price then the 2000 11th series Zeti ? It doesn't make any sense in numismatics because generally speaking it should rightfully be the oldest banknotes fetch the highest price than the newest banknotes.

Ironically you can still find the 11th series solid numbers banknotes available in Ebay Malaysia priced between RM1000 to RM1500 of RM1 ungraded were priced lower but no buyers. The situation are very mind boggling i can't help but to think that MNP auction has created an artificial demand in the inaugural auction or the so called "feel good factor" on behalf of BNM last year.


Happy Reading,
Andrew