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 Replies: 41 / Views: 16,582 |
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Pillar of the Community
United States
3343 Posts |
I have enough coins that I don't really care whether I win or lose an auction. But I'm also used to buying at a fixed price. I'm still interested in accumulating/hoarding in a narrow niche, which now is selling mostly in auctions. So I have to figure out the dynamics of bidding against resellers.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
 United States
4594 Posts |
How to win coins at auction: Bid higher than everyone else. Simple.
How to bid at auction within a budget: Bid the maximum you are willing to pay (backing out fees, pack&post, etc.). If that is higher than everyone else, you win. If not, you lose, staying within your budget.
If your budget is realistic, then you will win some coins, probably not all.
If you win no coins, your budget is not realistic.
As a reseller, my budget would reflect my estimate of what I can resell the item for within a reasonable time (the time-value of money is not zero).
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
3343 Posts |
Buying at a fixed price is simple Burton. Winning an auction against resellers like eternitycoin means guessing their budget and bidding more. I'm not caught up in the auction frenzy, just being pragmatic about the maximum needed to win. I should be able to bid it a week in advance and forget it.
Certainly it won't win every time but it's better than chasing the price. If I lose I'm not a buyer at the reseller's price. I have bid the maximum that I will pay, and I have nothing left to cover their margin.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
12/19/2021 12:00 pm
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Pillar of the Community
 Canada
5404 Posts |
We all have a maximum , that we will pay .
Some people's maximum is " whatever it takes " .
Before Covid we bought a fair amount from auction
for our inventory . Since Covid .. bought very little.
It is quite difficult in this environment to acquire stock.
Certainly not going to go on about it or worry too much .
Just have to work different avenues .
You are hardly the only one who can't get something
at what he feels is the correct price .
Heck I remember buying mint state Morgan's at 10
bucks or less and Sovereigns at 20 bucks .
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Pillar of the Community
United States
3343 Posts |
As a collector I lean towards the "whatever it takes" side Pacificoin. But I have to be careful about setting a maximum too high. I've been autobid up to within $10 of my maximum plenty of times.....how do they know.....
I'm recognizing the reality that cc half eagles are not available for $100 over melt anymore. They were a year ago.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
12/19/2021 11:58 am
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Pillar of the Community
United States
3343 Posts |
Outbid with 2 hours to go, and I'm done. Next auction I bid on I'll try 70% of straight grade as a maximum on a details coin. I've noticed that ebay sellers are asking 10-20% over PCGS straight grade prices for details cc coins. Not a buyer's market for me. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
12/19/2021 7:37 pm
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Pillar of the Community
Canada
5404 Posts |
Not a buyers market at all for anything numismatic right now.
Not a buyers market for anything else right now , save low and mid cap stocks on US markets.
We have been selling stuff for prices I never dreamed possible a couple of years ago .
Other dealers I talk to say much the same thing . All of us sitting on bucket loads of
Cash with no where to spend it . Way too much money chasing too few coins . A COIN price
Inflation cycle .
Best advice if you really want something bad enough offer current catalogue add 30 per cent and
prepare for disappointment . Or even better advice WAIT !
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Pillar of the Community
United States
3343 Posts |
The bidders blew right by my maximum and this scratched details coin finally settled 20% higher, at 80% of straight grade. Their mistake isn't my mistake. Waiting might not improve things, but I will move towards value somewhere else in the meantime.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
12/20/2021 08:28 am
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New Member
Japan
2 Posts |
Does anyone know more about this seller?
it seems like they have a decent collection and I was wondering if they are an individual dealer or a group of dealers.
I tried contacting them through their email address but couldnt get a response.
eternitycontact@yahoo.com
Please let me know anything you know about this dealer.
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Pillar of the Community
United States
4692 Posts |
Eternity Coins is fine with me. Satisfied with transaction.
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Pillar of the Community
United States
5192 Posts |
Numismatic coins are a luxury item. As long as people have the spare cash to throw at coins, prices will remain high.
Just wait for the inevitable recession. I'm sure prices will come down.
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Replies: 41 / Views: 16,582 |
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Posted 12/19/2021 09:29 am
