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Auctions....looking For Advice.

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secoinedchance's Avatar
Canada
449 Posts
 Posted 10/29/2012  8:25 pm Show Profile   Bookmark this topic Add secoinedchance to your friends list Get a Link to this Message Number of Subscribers
I'm thinking about going to a few auctions to try and scoop some deals. (Isn't every one?) Can anybody give me some pointers as to what resources are available? I'd rather not to to coin specific ones, as I feel there will not only be a fair amount of competition, but the reserves may be higher as well. I remember reading a forum around this time last year about someone who went to a Waddington's here in Toronto and scored a sweet lot that was full of silver.

I'd be more than happy to go with someone if anyone will be going to any upcoming.
Pillar of the Community
jakedacc's Avatar
Canada
1177 Posts
 Posted 10/29/2012  8:50 pm  Show Profile   Bookmark this reply Add jakedacc to your friends list Get a Link to this Reply
know what you want, and know how much you're willing to pay, it's not like ebay where you buy impulse and your computer freezes and you're either happy because you would have regret it or sad because you wanted it (both has happened to me)

do impulse buy on what you see us talking about here (sometimes premiums don't show up at auctions) but other times people want things for "sentimental value" maybe theirs got stolen, don't go big unless you know what you're bidding on, i'd hate to see a fellow CCF member regret his most passionate hobby
Bedrock of the Community
sel_69l's Avatar
Australia
21788 Posts
 Posted 10/29/2012  10:41 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
With numismatic auctions, as with all auctions, research the items you are interested in before bidding. You should know what you are bidding on. I go to the view days if at all possible.

Sometimes, it is a good idea for the auctioneer to make proxy single priced bids on your behalf. It can lessen the possibility of making a mistake, or getting involved in an impulse driven bidding war.
If you have a limited budget, do not spend beyond that.

Sometimes, none of the items you were interested in get knocked down to you. This can leave you with money left over, and available to spend. In a case such as this, items can come up which can encourage impulse buying on items you have not researched. You need to be very conservative with your bidding if you find your self in this situation. If there ANY cause for doubt, don't bid.
Valued Member
secoinedchance's Avatar
Canada
449 Posts
 Posted 10/30/2012  11:19 am  Show Profile   Bookmark this reply Add secoinedchance to your friends list Get a Link to this Reply
That is solid advice, and thank you for it. What I was after, was maybe some first hand experience from people who go to this type of auction. I kind of liken it to fishing a little bit in that if you catch a fish, you catch a fish (of course when fishing you need to do a little homework about the spot you're going to). Next Saturday there's one going on just outside Toronto from a retired dealer that I plan on attending to take a peek at. I'm 95% sure there's going to be something there to pick up.
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