One of the most common ways to coil a rope is with a butterfly coil. The value of the coil is that it is very fast and that when you drop the rope, it doesn’t tangle as easily as it does when you use a mountaineers coil.
The value of the “bow tie” finish is that it secures the rope in the middle without binding the ends together. This allows you to easily put the rope over the top of your pack.
To coil a rock climbing rope with a “tie off bow tie,” form two small loops resembling a bow tie, wrap the remaining rope around them, and then pass the tag end through the opposite side of the bow tie before pulling one loop to tighten and secure the coil.
The following video shows both the butterfly coil and the bow tie finish.