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Pillar of the Community
United States
2023 Posts |
I'm not, but the markups are eye-opening until you consider the overhead of their own buyer's fees and other costs associated with acquiring their inventory this way. I haven't bought anything from any of the high-end auction houses because it always felt like more trouble than it was worth (confusing UI, live/offline-only auctions, high fees, etc.) But I'm having second thoughts about that lately.
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Bedrock of the Community
13014 Posts |
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I'm not, but the markups are eye-opening until you consider the overhead of their own buyer's fees and other costs associated with acquiring their inventory this way. I haven't bought anything from any of the high-end auction houses because it always felt like more trouble than it was worth (confusing UI, live/offline-only auctions, high fees, etc.) But I'm having second thoughts about that lately. Things sell underpriced on all venues from time to time. Some venues more than others like the secondary auction houses where you get creamed a lot selling (Ha, Stacks, Legend are first tier, David Lawerence isn't far off). Free shipping is never free, and the higher sites raise their fees ultimately the more buyers have to absorb at least some of it |
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Pillar of the Community
 United States
3479 Posts |
Quote:Are people really surprised that dealers including big name ones get inventory from auctions and ebay? I was surprised at how much flipping goes on with Seated dollars. That's why I created this thread. I suspect many newbees don't really put much thought into it. I think it's an important thread and also important for all collectors to know that in many cases at auctions, you are bidding against both large and small dealers. It's good that they are providing liquidity to the coin market, but at what % is the more intriguing question that will likely never be answered. I can track toned Seated dollars fairly easily, the blast white market acceptable ones, not so much. So trying to track a rare coin type is still extremely challenging. I've been falling behind with sld updates for this thread. I can think of 5 Seated dollars I need to add. One of which a CCF member gave a long-term home to. If anything, I think it makes for an educational thread and a good read. |
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Bedrock of the Community
13014 Posts |
Quote:I was surprised at how much flipping goes on with Seated dollars. That's why I created this thread. That's not unique to SLD. That happens with all series. Most consignors don't know the proper timing or don't have the pull to get reserves from auctions ect. You can't automatically buy something in auction and flip it, and many of the attempted flips do lose money because people think flipping and the crack out game is as easy as the internet makes it sound. But yea across all series there are things that sell undervalue and you are ALWAYS bidding against dealers as well as collectors. The only time you aren't bidding against dealers online is if they didn't want it |
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Pillar of the Community
United States
3479 Posts |
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and many of the attempted flips do lose money because people think flipping and the crack out game is as easy as the internet makes it sound. Definitely not the case anymore. TPG's are tightening their standards and suffering because of it. Have you taken a look CLCT's stack price lately? Yet I agree there are still guys out there who think the crackout game is a winning strategy. I think if CLTC and NGC can hold out for another year with out going bankrupt, this section of speculators will give up on the strategy. |
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Bedrock of the Community
13014 Posts |
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Definitely not the case anymore. It's never been easy or automatic. I know thread posts on various sites make it sound that way but it never has been. A lot of the times information such as that is posted from people who have never tried or never consistently tried. Overall its a losing proposition to crack and hope it upgrades unless you are a very very good grader. Quote:
Have you taken a look CLCT's stack price lately? That's a completely separate conversation in all honesty. Their stock crashed because the the dividend was cut in half after getting a new CEO. Many hedge funds had the stock previously for the VERY strong dividend it had. Probably to strong in all honesty but instead of stepping it down they just hacked it all at once and the hedge funds all sold their shares and it tanked. Quote:
I think if CLTC and NGC can hold out for another year with out going bankrupt Neither of them are remotely close to bankruptcy nor are either of them anywhere close to shutting the doors. They aren't in survival or hold out mode at all. ICG is doing record numbers for themselves too as a side note. There's only one they may be in trouble in the foreseeable future and it isn't one that has been named |
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Bedrock of the Community
13014 Posts |
Quote: I Guess the CAC attempt or the crossover attempt didn't pan out: https://coins.ha.com/itm/seated-dol...ions-080216# Or heritage bought it. No one in their right mind would try and cross that to NGC so cross over is unlikely. Very bad form posting coins in active auctions. Lots of people do it to try and talk the price down on something they want |
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Pillar of the Community
United States
3479 Posts |
Actually you might be right. The purchaser has 7,161 transactions. Buyer: z***s ( 7161Green star icon for feedback score in between 5,000 to 9,999)
Edit: nope, not them. Their account has over 41,000 transactions.
Edited by MikeF
07/11/2018 11:08 pm
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Bedrock of the Community
13014 Posts |
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Edit: nope, not them. Their account has over 41,000 transactions. Do you honestly think they're still using that account to buy on ebay when their last buyer feedback is over a year old? You have to look into things more before making firm conclusions. For the record I don't care if they bought it they have every right too. |
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Pillar of the Community
United States
2023 Posts |
Quote:Here's someone's latest disaster. 1853 Seated dollar sold on ebay for $1,995. 132611486971Now up for auction on Heritage... As I'm typing this, the HA listing still has a day and a half to go, with a current bid of $1100 ($1320 with buyer's premium) and it has "Heritage Live enabled". There's still time for the final price to go up, but you're right it's looking like a disaster for the seller. Even if the final price with buyer's fees reaches $2K, the seller is still going to see only a fraction of that. |
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Bedrock of the Community
13014 Posts |
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Even if the final price with buyer's fees reaches $2K, the seller is still going to see only a fraction of that. Even paying the full fees the seller gets a lot more than a fraction. That said no substantial consignment should ever be paying selling fees and many get part of the buyers fee as well. You can't assume what the seller is getting (assuming it isn't the house selling it) as everything is negotiable on consignments. If you have a substantial consignment and some dealer says they won't negotiate at all walk away and let them try and stick it to someone else Edited by basebal21
07/12/2018 12:50 am
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Pillar of the Community
United States
3479 Posts |
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Pillar of the Community
United States
2023 Posts |
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Pillar of the Community
United States
3479 Posts |
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Pillar of the Community
United States
3479 Posts |
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Replies: 53 / Views: 8,736 |
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Posted 07/11/2018 9:59 pm
