The worst auction ever

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So awhile back I purchased a AG-G Raw No problem 1932-S Washington Quarter. It is a key date in the series. I got it from a dealer for $100. I thought this was a fair price, so I bought it. (it was).
Recently I needed the money to pay for a ticket (a theme park ticket, that is). So I picked this coin out, because I knew I could get a better condition one soon. I decided to let it go to auction at my local coin club. I consigned it at the beginning of the meeting, and was all set with a $1 reserve(so I can be sure it sells). When the time came (near the end of the meeting), a lot of people were tiered of sitting, and anxious to go home. (I was not) The auction started off at the reserve,and rose to $5 in a matter of 10 seconds. Then (thank goodness), a dealer rose it to $20 to get the ball rolling. I guess either a lot of people had either missed the coin, hidden near the end, or were not interested, as it slowly climbed to the $40 mark from a YN with a smart brain. It sold for $40 even. WHATTT???? That is less than half of the fair market price, (approx. $100) The YN was happy, and I got my money and went home in a slump. :(
Oh well, it just goes to show you, start the reserve at least half of the market price, or put it on ebay. :/
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Taylor