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Pillar of the Community
United States
6326 Posts |
I'm going to another one here in a couple of weeks !
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Bedrock of the Community
United States
20753 Posts |
The main thing is to be aware of the difference between an estate sale and an estate auction. Many estate autions are run by a professional auction house. Many have ringers in the crowd that bid on items that are not moving well so as to bring up the prices. They have nothing to loose since if the ringer wins due to no other higher bids, they simply take that item to the next estate auction. This goes on all the time around me.
A true estate sale is usually when someone dies, divorced, move from a house to a condo, etc. They just have a person estate sale similar to a garage/yard sale except almost everything is for sale. The primary thing at such sales is to ASK. Many people at garage/yard/estate sales put items that could walk away in a safe place and out of sight for the general public. Many have jars, cans, boxes, etc of old coins slated to go to a bank. Many have guns, knives and other items they are not sure of what to do with so they hide them. If you ASK many will go get such items and ssll them to you. If they really don's want something they may even give them to you. I've received many guns that way. Once a lady went somewhere and came back with a large jar of old pennies slated for the bank. I made an offer of $50 and received a jar of cents (pennies) where the newest one was in the 50's.
The main thing here is to keep away from autions if you don't know what your doing. Stick to estate sales. And above all else, ASK.
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Pillar of the Community
United States
6326 Posts |
JustCarl..........  I have been at several auctions where the "assistant" to the auctioneer who was holding up the coins to bid on would "buy them himself" when the price wasn't apparantly sufficient enough !....He would just put them in his pocket !.... And he "worked for the auctioneer service" ! ha ha.......well...at least they didn't try to hide it or anything I guess !...  Edited by eaglefoot
04/16/2008 2:07 pm
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Pillar of the Community
United States
2443 Posts |
I've had luck with pawnshops before. You could try that.
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Valued Member
 United States
178 Posts |
I just checked garage sales today and no coins. I don't see people in my town putting a price on money....
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Pillar of the Community
United States
860 Posts |
I have found some of the best deals at the local coin club meeting's auction or on bid boards. Never at a yard sale or estate sale. Knowledge and grading experience is what will keep you from big errors. There is no return policy with yard sales or estate proceedings.
Jim
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Pillar of the Community
United States
1353 Posts |
I live in a larger Metrpolitan area,never made out well at flea markets,garage sales,estate sales.I have had some luck at TREASURY auctions,and LCS.
Hope this helps
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Rest in Peace
United States
5375 Posts |
How exactly do you tell the difference between a profession auction and estate sale online? I want to avoid the former from what I've seen. Should I just call?
Any other stories about getting silver under melt? I'm mostly after that, I have nothing to really do this summer anyway so some hunting would be fun as long as I don't have to drive two hours each way or something...
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Rest in Peace
United States
5375 Posts |
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Rest in Peace
United States
5375 Posts |
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Pillar of the Community
United States
6326 Posts |
There ya go !.....you're on the right track ! That is a "coin auction" ran by a professional auction company. There are "estate auctions" also ran by professional auction companies and when those feature, in part, "coins", you have a chance at few coin collectors being there and can have an opportunity for some deals. Auctions that specifically and only feature coins are also great !.....but be careful of "auction fever" !......there WILL be people there quite willing to go "well over" what a coin is worth......for no other reason than they just "want it"........happens all the time..... at all auctions. I've got some really nice coins from "coin auctions", and always wish i'd brought more money with me !.....They're so much fun and you get to see a lot of interesting things, even if you don't plan on bidding on them. Just use the "auction bill" to identify and price your "bid coins"......Then when you get there, grade them the best you can, conservatively, and stay within your "ceiling" price range.... Keep a pen and paper with you and make distinct notations about all you plan to bid on. Let us know what you come back with and show some pics too !  Edited by eaglefoot
05/19/2008 5:14 pm
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Rest in Peace
United States
5375 Posts |
Yeah, I remember once we went to one of these 'auctions' expecting some old house when I was...13 or 14, and isn'tead got one of these overpriced, professional auctions. So is there any way to search for NON professional estate sales because I didn't find any....I guess those are harder to find, but I could try my luck at one of these anyway if it's within 20 miles
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Pillar of the Community
United States
6326 Posts |
I'm a little confused by the question, but I would just say that "any" auction where they "hire" an auctioneer to do the auctioning....."is" a professional auctioneer service......whether it's an "estate sale", an "estate auction", or a "coin auction"........they're ALL run by a professional service.
You wouldn't want some "jack-leg" people coming in there to sell off "your" stuff for you!
IMHO...you just want to go to the smaller "out of the way" kind of estate auctions.....then you'll have a chance of small competition on the coins !
I've been to some where there were only 20 people in attendance and I've been to some where there were several hundred people there !....and you're not going to find a "deal" at an auction with several hundred people there !!.........
Edited by eaglefoot
05/19/2008 5:14 pm
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Rest in Peace
United States
5375 Posts |
no I just meant if someone passed away or they're moving and they're just selling all their stuff on their own without the help of a professional
though, I definitely think you're right about the numbers, BECAUSE that one I went to when I was young had at least a hundred people or more. if there's a low number can you get extreme reductions in price or is there usually a substantial starting price/reserve?
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Pillar of the Community
United States
6326 Posts |
Well if there is an auctioneer involved "everything" will be auctioned off.....and I mean everything. They will have starting prices for things, as auctioneers have done so many of these that they generally tend to know what a certain item should be worth. But, they will come "down" on this, if no one bids on it or no one thinks the item is worth what the auctioneer starts at......yeah.....they'll go up or down whatever they need to do to sell the item.... Morgan silver dollars can start at $15.00 and before the bidding is done it could sell for $185.00 !!.....Yup !...(and it might only be worth $35.00)....But also, like I mentioned, if there aren't many people there and they're mostly after "golf clubs, furniture, vehicles, kitchen appliances, books, things like that.........THEY TEND TO CARE VERY LITTLE FOR THE "COINS" THERE TOO !!........."those" are the auctions that you want to go to !! |
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Posted 04/09/2008 08:55 am
