Thoughts On This Auction

If this auction doesn't work, I will try selling to a local dealer. Cant wait to see what they will offer.

I'm looking at Greysheet 07/22/05. Dealer Bid is $1060 and Ask is $1800 for MS63. I did get those two numbers backwards. However, since bid is what a dealer will pay for the coin to resell, why would a dealer pay MS63 ask for an MS61 coin, especially with the obverse rim nicks disclosed even though they are not visible?

quote:

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Originally posted by national dealer

Are you looking at a weekly?

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Yes. Bluesheet shows PCGS and NGC MS61 at $600 with a market of $760. It is my feeling that a dealer would have hid behind greysheet on this coin possibly offering MS62 bid, but not ask. MS62 bid on this coin is $770.

Keep in mind that each sale is not an island unto itself either. We got a lot of advertising and exposure from that coin that drove up the price of a number of other auctions during the time it was running. Since we are at the mercy of what our clients send us, we need to take advantage of coins such as this one to get the lower-end coins sold at reasonable prices. The difference that this coin made in the hammer prices of other coins running at the time made up for quite a chunk of the fees. Also, as stated earlier, the listing fees on this auction were negligible, the final fees and PP fees came to about $40. We did not "work for free" by any stretch of the imagination and Mike, who had speculated on this coin in the first place, made a profit. All made money (including our clients who were not connected to this coin). We learned a long time ago that each sale is just a part in the big picture.

But ND, I LIKE doing the auctions - putting them together, doing the description, watching the activity - these are all things that I enjoy.

It is not work when the coin in question is like this 1838. Coins like this are my reward for getting through the crap auctions (and even those can be enjoyable since I like the grading and descriptions). Also, keep in mind that every auction takes a total of 5 minutes (plus 2 minutes for pics since Bobby's fast). We just made a nice chunk of change for a total of 10 minutes work (it took 3 to pack it up and ship it this morning.) Everything is very streamlined now.

I know you still don't believe it, but I truly LOVE what I do and internet selling appeals to me. Putting together the presentation, analyzing the data, all of it.

Hopefully I will see this time...I at least got one bid...

I would like to congratulate TW for his effective use of this forum as an advertising tool. It appears that his auction now has 2 bidders, both of which are members of this forum.





P.S. For those of you who missed it, that first statement was said with my toungue firmly planted in my cheek.

hmmm, I didn't mean to offend, I was just pointing out what it looks like to me this post has become.

sorry troll...just a bit sensitive yesterday