Anyone Bidding On The Newman Collection?

For anyone reading this who is unfamiliar with Eric P. Newman, be aware that he is (while still living) discussed in the same breath as Eliasberg; probably the only other collector whose breadth of achievement compares. He's not one of the great numismatists of our time - he's one of the greats of all time. And his numismatic resume is only one aspect of the life of service he's led.

Here's a pretty good look at the man:

http://www.coinworld.com/articles/e...-looks-ahead

Awesome article Dave- Checked out some of those ones in the Heritage auction, amazing coins

I think most buyers factor in the BP when they bid.

SsuperDdave is right of course, but judging by his tone he's probably tried to explain it too many times. Think of it this way. There is a buyer and there is a seller but there is also a middle man. Whether it's ebay or an auction house they are providing a service, a means for the buyers and sellers to get together. And they are doing so to make money. It's a difference in their business model, but in either situation the end results are pretty much the same for the buyer. As others in this thread have said buyers in auctions take the buyer's fee into account when bidding, therefore they bid less than they would in say an ebay auction because they know they'll be paying the buyer's fee. Across all buyers in an auction it's an even playing field. Here's a graphic that may explain it a little better. It uses an example of the same coin being sold both through ebay and through Heritage. In both cases the "out of pocket" price to the buyer is the same, $500




Either way the buyer pays the same amount, but the auction house ends up making more than ebay. The reason is they specialize in coins and have a higher overhead so it makes sense, but the important part is that the buyer ends up paying pretty much the same in either situation. The party that loses out in the auctions is the seller, as they take home a smaller cut. What the seller gets from the auction vs. ebay is a much more focused audience. Typically a more sophisticated audience as well. An audience that is willing to pay more for nicer, higher end coins in many cases.

So it's just a different business model. Neither is really better or worse for the buyer, just different.

Tbone:
when I sold through Heritage, they took a hefty 10% seller's fee. andthat was from the final prize including BP. So they take money from both ends, from the seller as well as the buyer.

epikur

Holy amazing toners!! some unbelievable coins! With hefty price tags!

I'm bidding on a couple... All Col Green labels... Not only do I want a pedigree from the Newman collection but also with Col Green...

But we'll see where the prices go.. Lol, I don't really want to post which yet as I don't want to add bids, lol... But a couple Morgan's and one other thing...

I took a look at some of the items and it is way beyond my resources to bid on those....there were a few coins I liked that were in the $400-500 range to start, but even those leave me out. As a matter of fact I am thinking of selling off all my coins and getting out of the hobby.

Bidding live begins today. I am going to try and watch some of it. Anyone else?