To estimate a maximum purchase price for the coin in question, we can analyze the provided data, including the current starting price, current condition, and previous auction prices.
1. Current starting price: 200 euros.
2. Current condition: 85 (MBC+/EBC-), which is quite a good condition.
3. Average hammer price in the past: 250 euros.
4. Auction history: The coin has been auctioned 12 times, of which it has sold 11 times, indicating good demand.
### Analysis of previous prices:
- In the 2020 auction, with a condition of 85, the hammer price was 260 euros.
- In the 2022 auction, also with a condition of 85, the starting price was 300 euros, but the hammer price was not reported.
- In the 2023 auction, with a condition of 80, the hammer price was 260 euros.
### Considerations:
- The condition of 85 is a positive factor, as it has previously reached hammer prices of up to 260 euros.
- The average hammer price of 250 euros suggests that buyers are willing to pay close to this value.
- Given that the starting price is 200 euros, it is reasonable to expect that the hammer price will be above this value, especially considering the good condition.
### Estimation of the maximum purchase price:
Taking all these factors into account, a reasonable maximum purchase price could be in the range of 260 to 300 euros, as this is the range of hammer prices that has been observed in the past for coins with a similar condition.
Therefore, an estimated maximum purchase price could be approximately 280 euros. This allows for a margin for competition in the auction and aligns with previous hammer prices.