Auction Sites Like The Auction Network - Product Supply?

At auctions I pick up what I want when the price is right and I'm happy that it's usually way under issue price. Last year I picked up some other stuff at what I thought was really good pricing thinking I could resell some at a reasonable price. That's something I am rethinking this year - I'm having trouble moving items at 1/3 issue price . . . it seems more people are offering me melt value, which I think is ridiculous considering what the items sold for originally. I'm going to be much more selective this year about purchases - hopefully sometime in the next 5 years the price of silver goes up and it's a shame to think that these coins will be going for melt at a higher price and that whatever "numismatic" value they had is not relevant.

Yes aghawk you make a valid point. Problem is it seems people are mostly interested in buying what they hope to be hot new releases and what was issued by RCM in prior years is much like yesterday's news. For example Coin X from 2009 sold out - even if it was originally purchased by 10,000 proud new owners, as time goes by they begin to sell for a variety of reasons, financial difficulty, lose interest, divorce, estates, etc. It's not realistic that 10000 people be standing in the shadows waiting to become new owners of an old NCLT 2009 coin that most people wouldn't know or even remember exists. Therefore the excess sits on the market.

Circulated coin, for example silver, is somewhere different because it's discontinued. But RCM keeps churning more and more NCLT into the marketplace. That's why I think it's a good thing when some get melted.

Pocket change, yes there can be bargains but as you mention it's very important to read the terms and conditions and know there's additional costs beyond the high bid price. Auction sites post their items quite some time in advance and have a search function so prospective buyers are able to preview. Often the photos are not very good however and winning items can't be returned. Therefore what one might think is a bargain may not prove to be so. I sometimes follow Canadian auctions on icollector and have bought a few things. Depending on the location of the actual auction, the shipping cost is calculated after the auction is over, based on total weight/distance and I've always found it to be fair. ....my experience only.

Yes, that's the secret! Be disciplined and decide the maximum amount one is willing to pay in advance, deduct the buyers premium and another $30 or so if you want it registered mail, what's left will be your maximum bid. If the auction/s are won on your lower bid, well that leaves money in your pocket.

I'd speculate Auction Network is connected with the "We'll Buy Your Silver!" crew that rolls across the country from town to town. I recall seeing a local ad again not too long ago, regardless of low silver prices, there's still opportunity for them especially in the estate business and poor economy particularly if dealers are also overstocked.

I've followed their auctions for quite a few months now and I notice a lot of the stuff just does not sell, not always because the reserve bid is too high but because of low demand. If items don't sell in a few rounds of auctions, maybe then it's get sold for melt? Just a thought...

I was wondering about the "We'll Buy your Silver" people as well - though I suspect they would get a wider variety of items than what the Auction Network seems to sell. Also, I think the Auction Network used to run live auctions in smaller centres around Tornoto - Milton, Stratford, etc. and they always had the same range of items - coins, hockey cards, group of seven editions, etc. Went to one of their auctions years ago and I was not impressed - very high pressure, bids quick and confusing and although I can't prove it I'm fairly certain they had shills planted in the audience catching bids higher.