Auction Minimum Bids

Having high minimum bids in the RCNA and Torex auctions are justified because many of the lots are rare or high quality items you don't see in weekly or monthly auctions.

It is quite unreasonable to expect items like rare banknotes worth $10,000 or 1948 silver dollars or more to go for minimum bids of 20% of trends or $1 opening bids.

Auctions that have $1 opening bids usually have coins or currency that are common items that can be found easily on ebay or elsewhere for big discounts anyway.

Not all Colonial Acre auctions have $1 starting bids. Only those in low demand have low starting bids. Their May Auction featured many high grade Silver dollars including key years like 1947 and 1948. They also had high grade replacement banknotes. All of the had minimum bids of 50% trends or more. All of them sold.

Even after fees the high value items are still cheaper than retail value charge by coin stores.

The only quibble is with the July RNCA Auction by Greg Bell that have 20% buyers fee online bidding. That is the highest I've even seen. Online bidding is usual 18% buyers fee. Because of the high fee bidders will have to lower their bids accordingly.