Coin Slot Magazine - #010 - 1975 - July [International Arcade Museum]
THE COIN SLOT
JULY 1975
© 1975 John W. Caler
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Harrah's Pony Express Auction, or
" The Gatherina of the Cult.
Special to THE COIN SLOT
There had never been anything like it before. It was so successful,
there will probably be others like it in the future. Who knows, it might
become an annual thing. It was THE gathering of the cult of antiquers,
collectors, dealers and above all else, the coin-op enthusiasts. It was
Harrah's auction held at Reno, Nevada, with viewing on June 4th, and
bidding on June 5th, 6th and 7th.
Everybody but everybody was there.
There was a simple reason for
this. Other than the fact that there were a lot of terrific machines on
the block, this was an historic event. It was the first slot machine
auction 1 It had never happened before. It promised to set a value-* in
. trade and in dollars, realistic or unreasonable— on machines that had
never enjoyed the distinction of a market level. And the talk before the
auction was "high". Collectors who always wondered what their machines
were worth might, as a result of Harrah's, finally know what they're
sitting on. Some people said that was good. Others felt it was bad. All
felt that something like this was probably needed for years. A few even
wondered if they would come out of it "wealthy, " if only on paper, based
on what they were holding. And rumors were all over the place. There
was talk that there was a sealed mail bid of $2,000. on every upright
machine, and that they'd go even higher. Some guessed that the bells
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would go for $500., or $700., or even as high as $1,000., depending on
the machine.
There was talk that some of the machines, were "funny"
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