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Determining "Declared Value" For Auction Purposes

 
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Author Previous TopicReplies: 14 / Views: 744Next Topic  
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 Posted 10/13/2020  5:09 pm Show Profile   Bookmark this topic Add navycapt1635 to your friends list Get a Link to this Message
Hi all,

I made a consignment of 37 coins to Great Collections and got the NGC grades back yesterday (mostly proving, at least on a few coins, how inaccurate my grading can be--for about 30 coins, I was in the ballpark, only a number grade or two away from NGC's grades. On the other 7, I was off by 3 - 8 number grades off (one was 15 off). GC will be suggesting a declared vale on the graded coins and what percentage of that value I want to use for an upcoming auction. Based on everything I've learned over the past several years, it seems to me that the PCGS Price Guide is a decent baseline/bottom starting point. Also, the "sold" items on EBay/GC/Heritage give me an idea of at least a ballpark value. I would welcome some advice.

Thanks!

Bill
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 Posted 10/13/2020  5:12 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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 Posted 10/13/2020  6:34 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
I think you can use this site to find the recent auction prices for NGC graded coins: https://www.NGCcoin.com/auction-central/us/

I don't know how other "price guides" arrive at their conclusions. but I am always suspicious that these can be out of date, especially in times when PM prices are moving, and I prefer to look at real time recent auction results.




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 Posted 10/13/2020  8:38 pm  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
keep in mind the closer, to true value you start your auctions at, the less interest you will get from interested buyers.., if you start your auctions a little lower you will see more people interested in where the price goes.

ie.. more potential bidders.. my opinion only..
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 Posted 10/14/2020  05:41 am  Show Profile   Bookmark this reply Add Hunter611 to your friends list Get a Link to this Reply

I see this with other auctions as well. Amazing where a price can go when starting from a penny for quality quality sought after goods. As a seller though I think it can be hard to underprice your item out of fear it goes for that price.
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 Posted 10/14/2020  1:46 pm  Show Profile   Bookmark this reply Add navycapt1635 to your friends list Get a Link to this Reply
All great advice. Thanks for the links!

Best,

Bill
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 Posted 10/14/2020  4:33 pm  Show Profile   Bookmark this reply Add machine20 to your friends list Get a Link to this Reply
Agree with posters above. For example, you don't want to start an auction for something objectively worth $100 for $80. You'll likely have a lot of bidders who will second-guess themselves seeing no or a small # of bids.
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 Posted 10/15/2020  09:26 am  Show Profile   Bookmark this reply Add navycapt1635 to your friends list Get a Link to this Reply
Thanks. I think that sellers have to strike a delicate balance regarding the price so as to get some offers/bids vs. frightening buyers away with a starting bid being too high.

Best,

Bill
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 Posted 12/22/2020  12:19 am  Show Profile   Bookmark this reply Add one_fine_dime to your friends list Get a Link to this Reply
why not declare value at the CDN greysheet wholesale price?
My avatar is from the reverse of the US 1987 Constitution Silver Dollar and features 13 diverse people intended to represent the wide cultural and social spectrum of the United States.
>>> E Pluribus Unum (Out of Many, One) - the de facto motto of the United States <<<
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 Posted 12/22/2020  09:20 am  Show Profile   Bookmark this reply Add navycapt1635 to your friends list Get a Link to this Reply
OK. Good idea.

Thanks.
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 Posted 12/22/2020  09:51 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Most stuff twenty back of sheet .
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 Posted 12/22/2020  4:52 pm  Show Profile   Bookmark this reply Add one_fine_dime to your friends list Get a Link to this Reply
I've heard this several times now (from dealers mainly)...why "back of greysheet" instead of "below greysheet". Where else do folks say "back of" when referring to prices being below a set value? Just curious why that lingo per se.
My avatar is from the reverse of the US 1987 Constitution Silver Dollar and features 13 diverse people intended to represent the wide cultural and social spectrum of the United States.
>>> E Pluribus Unum (Out of Many, One) - the de facto motto of the United States <<<
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 Posted 12/22/2020  9:33 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Because that is how it is described in the Trade .
Semantics , means exactly the same thing .
Pay 80 per cent of Sheet and you stay out of trouble !
ONLY PAY THIS if the coin is problem free , solid for the grade .
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 Posted 12/23/2020  09:19 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Simply send all your coins to me and forget about selling anything.
just carl
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 Posted 12/31/2020  4:37 pm  Show Profile   Bookmark this reply Add one_fine_dime to your friends list Get a Link to this Reply

Quote:
GC will be suggesting a declared vale on the graded coins and what percentage of that value I want to use for an upcoming auction.
I've never consigned raw coins with GC, but seems like a great option that I may consider myself. From the raw coin consignment sheet, it appears that the coin owner is to indicate the values, and that you have the option of GC recommending minimum bids. Is that right or am I missing something?

https://www.greatcollections.com/fo..._consign.pdf

It seems odd that you would have to identify this "value" prior to even getting the coins graded. Meaning, what if they come back at a higher grade than you anticipated?

@navycapt1635 - did you send your coins to NGC directly or through GC?

Any clarifications are welcome. Thanks!
My avatar is from the reverse of the US 1987 Constitution Silver Dollar and features 13 diverse people intended to represent the wide cultural and social spectrum of the United States.
>>> E Pluribus Unum (Out of Many, One) - the de facto motto of the United States <<<
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