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 Replies: 13 / Views: 1,846 |
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Pillar of the Community
Canada
1823 Posts |
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Pillar of the Community
Canada
9158 Posts |
I'm going to have to check this out.
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Pillar of the Community
 Canada
5394 Posts |
A little late to the auction game. Be interesting to see what they can come up with. It will be a long time in Canada before the Landon sale is topped.
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Valued Member
Canada
414 Posts |
This is great news, we need a good local auction house that isn't tied to a coin show and outside of the city. Not only will I be attending, I might consign a few items.
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Valued Member
Canada
414 Posts |
Quote:
A little late to the auction game. This may be true, but CA has developed a strong clientel and good reputation in southern Ontario. I think this should attract some buyers that are hesitant to go toe-to-toe with the big guns of the other established auctions. The Coin Expo and Geoffrey Bells acution will follow the week after so it might be another show with empty wallets, it will be interesting to see. |
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Bedrock of the Community
Canada
21597 Posts |
Never been to a live auction.
This seems like a good chance.
Not only have I dealt with them,
They are 10 minutes from my sons house.
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Pillar of the Community
Canada
1461 Posts |
After seeing the grossly over inflated prices for many of the coins at the Landon auction, I'm not surprised.
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Pillar of the Community
Canada
3049 Posts |
I think this has nothing to do with the Landon sale and everything to do with a good business model.
They probably had plans to implement some sort of auction as early as last year and as late as 5 yrs ago.
Think of it... you have a LOT of excess product that isn't moving, you already have a web site... with minimal cost you can create an auction platform and have customers sign up... you eliminate the buyers fee and are able to move more product... What dealer wouldn't want that?
All I know is if I had a store and large enough inventory... I would think it's silly NOT to have your own auctions on occasion.
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Pillar of the Community
Canada
5394 Posts |
Grossly over inflated prices at the Landon sale ? Guess it just depends on what you bought. A lot of coin dealers are now resorting to auctions. I was just in London. England and there is virtually no retail coin trade left! All going to auctions.
These days with the Internet your audience is truly world wide. The auction platform is perfect for this new world in the coin business. You can sell an amazing volume at auction and the buyers premium is guaranteed built in profit. The best part is that running an auction means carrying way less inventory .
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Pillar of the Community
Canada
1461 Posts |
Pacific...I absolutely agree with you on the auctions from a sales point of view...In most circumstances, auctions maximize profits. Even a more lucrative business for auction houses which essentially play the broker (my favorite business model and transaction type). I can't tell you how many coins I've had listed for months at a set price only to launch them to auction and see the go for more than the original asking price. Sometimes significantly more. With respect to Landon, the prices realized were nothing short of phenomenal in this market where even certain high graded material trades for 50% trends. I've had a few customers that had some high hopes for high grade copper at reasonable prices only to walk away disappointed.
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Valued Member
50 Posts |
Again I agreed with the coin huntered guy that it was phenomenenal that those kind of bid they were being made an I think it was some big mistake maybe down the line.
What I saw was that there were 3 or 4 guy with deep pocket who do most of the buying up of all these coins I would say for them to keep a monopoly on the good coin like the diamond guys they do.
and maybe also that these old guy have way too much more money than they have been losing some of their mind when they are grow old and are now stubborn to realize who are goin to pay the big money down the road when all of us old guy are gone and the young kids they don't care about the old coin?
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Pillar of the Community
Canada
5394 Posts |
No not deep pockets any more....................empty pockets my cheques just cleared OUCH  |
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Pillar of the Community
Canada
3049 Posts |
Hahahha I think there's a few people in the same situation.... I wonder how much of a pinch that one major bidder that took like 40% of the lots is feeling right about now?
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Pillar of the Community
Canada
610 Posts |
Sounds good. I have never been to a coin action. Maybe I'll check it out!
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Replies: 13 / Views: 1,846 |
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Posted 02/26/2015 11:29 am
