[meteorite-list] The problems with Amgala

From: Adam Hupe <raremeteorites_at_meteoritecentral.com>
Date: Fri Aug 6 14:52:00 2004
Message-ID: <009d01c47be5$2df9f660$6401a8c0_at_c1720188a>

Dear List,

A few List members have been mentioning Amgala as an example of price
fluctuation. I do not believe Amgala is a very good example for the
following reasons:

The problem is that Amgala has not been completely classified yet so it is
being sold as an unclassified meteorite. One of the reasons it is taking so
long to classify is that many interesting features have been found in Amgala
and the scientists want to describe them properly, something every fall

Another major problem is that a stockpile of Zag has been released at the
source in Morocco and is being sold as Amgala. Fresher specimens of Zag
look pretty close so it is hard to tell. This makes it appear that there is
much more available than stated.

A situation that had the most impact was brought about when one dealer who
heard rumors panicked and dumped his material below costs to the public.
Some so-called "cowboys" think it is some kind of race to dump material as
quick as possible before anymore is found. This caused a mini-stampede and
a few other dealers followed his example. This has happened many times the
past few years and shows that the meteorite market needs to mature. There
are too many loose cannons lacking professionalism and true business sense
selling meteorites to a somewhat thin market. Day trading does not work
with meteorites so those lacking long term resources should find another

All the best,

Adam Hupe
The Hupe Collection
Team LunarRock
IMCA 2185
Received on Fri 06 Aug 2004 02:42:51 PM PDT

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