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 Replies: 11 / Views: 1,904 |
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Pillar of the Community
Canada
1554 Posts |
 Has anyone checked out page 5 of the latest edition of The Canadian Coin News bi-monthly publication? The bottom of the page states:" We offer 105% of the hammer price. We will pay you an extra 5% on top of the hammer price." This is regarding the 2012 Calgary Auction that is being hosted by The Canadian numismatic Company. In all my years this is the first time I've seen an Auctioneer willing to pay the Consignor. This leads me to believe one of three things:1) There must be a lot of money to be made from Internet Auctions where coins are consigned. 2) There is not much good material available and most Collectors are holding back from selling. 3) The demand for Collector coins is coming back from the slow economic times since 2008. What do you think of this? Glenn 
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Valued Member
Canada
196 Posts |
Just wondering what is the typical cost of consigning for TCNC auction
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Valued Member
United States
292 Posts |
If they're paying a premium over the hammer price how are they profitable? Is there a buyer's premium or consignment fee?
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Valued Member
Canada
491 Posts |
The auctions that I've been watching..not buying..are charging up to 20% for their fee. Business is all about taking profit and sometimes throwing a bit of cash back to make a deal is in their best interest. The auctions are getting pricey, purchasing from a local dealer or an online site is prefeable to me than an auction and very often lower cost.
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Pillar of the Community
Canada
2495 Posts |
I don't pay much attention to whatever the 'CNC' has to say.
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Pillar of the Community
 Canada
1554 Posts |
 T,C,N,C, charges consigner's a 5% fee to sell their coins. It charges buyers an additional 18-20% fee over the sale price of a coin, not including taxes. And if you pay for your wins via a Visa card, they wil tag on another 2% on your Total$. All said and done, by the end of the day the coin will cost the Buyer and additional 40% over the hammer price! Glenn  |
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Valued Member
Canada
196 Posts |
Thank you Glenzy.
TCNC probably just wanted to shut off other smaller auction houses, or the 105% of hammer pice have to be for no reserve auction.
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Pillar of the Community
Canada
1984 Posts |
They may be trying to scoop as much good material as possible ahead of the new competing Bell auction at the new Toronto show.
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Previously Ousted
Canada
398 Posts |
Some European auctioneers are charging as high as 28% fee, plas taxes, CC fees etc....
no wonder they are fat cats.
CG
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Pillar of the Community
Canada
1051 Posts |
If they are offering 105% of hammer, what is the BP %?
Even at 105%, if there's a 20% BP they are still skimming 15%.
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Pillar of the Community
Canada
972 Posts |
#3 mostly, but then a shortage of quality coins available.
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Pillar of the Community
 Canada
9866 Posts |
Why are they offering 105%? At the recent Torex auction 208 lots of silver 25cents were up for auction. 33% of these went unsold,not one bid About half of those that sold had only one bid,netting the consignor about 50% of trends value 90% of the sales were at less than 70% of trends,only 14 of the items sold realized more than this for their previous owners With returns like that how many collectors are lining up to take a beating by selling at the RCNA auction. |
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Replies: 11 / Views: 1,904 |
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Posted 02/21/2012 1:15 pm
