Canadian Coin Auctions - Questions

I personally buy a lot on social media auctions. Reputation goes a long way there and there is no commission or fees involved so sellers are able to capitalize on the true value of their coins.

Thanks for all the info. I've got a number of pre 1933 US gold and I'm nervous about ebay. Although realizing only 60% on the sale is painful.

I have been a victim of buyers scams on occasion. Sadly it is a cost of doing business. The ebay market is very pro buyer but it is the best game in town for a certain class of midrange items. 99%+ of buyers are fair. You have to be very very careful on high end items.

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There are Facebook auctions on the specialized coin sector. I have a friend who sells 100's of coins for me there.

I'm getting to this one late...but to answer wallyb's questions:

1. Generally, yes, the consignment commission is the only cost to the seller. However, some auctioneers charge a separate cataloguing fee, or payment processing fee; so you need to ask those questions with each auctioneer you inquire with.

2. I personally would never in a million years sell on ebay. They have long had a history of being biased in favour of buyers, and given the nature of unscrupulous buyers they have, I would never recommend anyone sell on that platform.

3. As for auctions, you would be wise to do your homework. Not all auctioneers are the same. When I decided to start selling some of my coins a few years ago, I inquired with each of the reputable coin auction houses we all know of in Canada, and frankly, none of them inspired me to consign with them. The commissions they charge are outrageous, and I don't find their auction sales formats inspire traditional auction-style bidding behaviours to yield maximized returns. However, I found very satisfactory success with other generalist auctioneers who don't necessarily specialize in coins and currency. That all being said, it also significantly matters about what specific coins you are considering putting up for sale, to help guide/inform your decision.

The social media auction idea coinman91 mentioned is something I hadn't heard of before; most likely because I don't use social media. I'd be open to hearing more about that...