Posted 04/16/2007 10:31 am
The buyers premium means 5% is added, in addition to tax in some states.
So if you win a coin for $100, 5% BP is added ($5) and say 7% tax (like it is here, $7)
So you are now up to $112 dollar, not too awful, but it can add up on that 09 S VDB, if it sells for $700, $35 is added for BP and $49 for tax, so that's another $84 above the bid price.
So figure out if these is tax, look at the coins ahead of time and disregard the given grade. Like trdhrdr007 said, know your price and stick to that. I normally average a coin auction a week or two, and so many people let the auctioneer talk them into a bid, which is his job. Instead of of going in $10 incements, he will probably drop down to $5 to get you back in.
It is really hard to give prices for the coins from grades they put on them, as they are seldom right. Even the ACG slab. As long as it has full wheat lines in the back and no problems (rim bumps, cleaning) it should be worth atleast $700.
Hope this helps.
So if you win a coin for $100, 5% BP is added ($5) and say 7% tax (like it is here, $7)
So you are now up to $112 dollar, not too awful, but it can add up on that 09 S VDB, if it sells for $700, $35 is added for BP and $49 for tax, so that's another $84 above the bid price.
So figure out if these is tax, look at the coins ahead of time and disregard the given grade. Like trdhrdr007 said, know your price and stick to that. I normally average a coin auction a week or two, and so many people let the auctioneer talk them into a bid, which is his job. Instead of of going in $10 incements, he will probably drop down to $5 to get you back in.
It is really hard to give prices for the coins from grades they put on them, as they are seldom right. Even the ACG slab. As long as it has full wheat lines in the back and no problems (rim bumps, cleaning) it should be worth atleast $700.
Hope this helps.
