Treasure Fever has struck again! Expert numismatist and auctioneer of shipwreck coins and artifacts Daniel Frank Sedwick has released the results of his Treasure Auction #3. This mail-bid auction surpassed predictions by grossing over $800,000 ($700,000 + 15%), with an unprecedented 92%+ of the lots sold.

Consignments for Sedwick’s next auction (Treasure Auction #4) in the fall of 2008 are already pouring in. One of the top highlights of the sale was a rare mariner’s astrolabe that sold for $28,750.00 (with buyer’s premium). Other major highlights include a Lima, Peru, cob 8 escudos of 1703 that sold for $17,250 and a Cartagena, Colombia, cob 2 escudos of 1622 (the first gold coin struck in the New World) that sold for $23,000 (both prices with buyer’s premium).

The entire offering of Spanish colonial gold cobs in this auction (mainly from the 1715 Fleet) hit close to a quarter million dollars, one of the biggest auction sales of treasure gold cobs offered in the last several decades. This marks a trend in gold-cob prices.

“The market had a very positive reaction… collectors are increasingly eager for choice gold cobs and we can provide the best selection at competitive prices,” says Sedwick, who also pointed out that a similar offering will appear in his next auction in the fall.

A big surprise for collectors was an offering of ca.-1528 shipwreck silver “tumbaga” bars, which before this auction had an average price among collectors of about $3,000 each, yet the 14 bars on offer averaged over $7,000 each (including commission), with one specimen exceeding $10,000. This reflects a new appreciation for these artifacts. (more…)