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Estate Sales

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Pillar of the Community
eaglefoot's Avatar
United States
6326 Posts
 Posted 05/19/2008  08:36 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
There ya go !.....you're on the right track !
That is a "coin auction" ran by a professional auction company.
There are "estate auctions" also ran by professional auction companies and when those feature, in part, "coins", you have a chance at few coin collectors being there and can have an opportunity for some deals.
Auctions that specifically and only feature coins are also great !.....but be careful of "auction fever" !......there WILL be people there quite willing to go "well over" what a coin is worth......for no other reason than they just "want it"........happens all the time..... at all auctions.
I've got some really nice coins from "coin auctions", and always wish i'd brought more money with me !.....They're so much fun and you get to see a lot of interesting things, even if you don't plan on bidding on them.
Just use the "auction bill" to identify and price your "bid coins"......Then when you get there, grade them the best you can, conservatively, and stay within your "ceiling" price range....
Keep a pen and paper with you and make distinct notations about all you plan to bid on.
Let us know what you come back with and show some pics too !
Edited by eaglefoot
05/19/2008 5:14 pm
Rest in Peace
coinguybrian's Avatar
United States
5375 Posts
 Posted 05/19/2008  2:05 pm  Show Profile   Bookmark this reply Add coinguybrian to your friends list Get a Link to this Reply
Yeah, I remember once we went to one of these 'auctions' expecting some old house when I was...13 or 14, and isn'tead got one of these overpriced, professional auctions. So is there any way to search for NON professional estate sales because I didn't find any....I guess those are harder to find, but I could try my luck at one of these anyway if it's within 20 miles
Pillar of the Community
eaglefoot's Avatar
United States
6326 Posts
 Posted 05/19/2008  5:10 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
I'm a little confused by the question, but I would just say that "any" auction where they "hire" an auctioneer to do the auctioning....."is" a professional auctioneer service......whether it's an "estate sale", an "estate auction", or a "coin auction"........they're ALL run by a professional service.
You wouldn't want some "jack-leg" people coming in there to sell off "your" stuff for you!
IMHO...you just want to go to the smaller "out of the way" kind of estate auctions.....then you'll have a chance of small competition on the coins !
I've been to some where there were only 20 people in attendance and I've been to some where there were several hundred people there !....and you're not going to find a "deal" at an auction with several hundred people there !!.........
Edited by eaglefoot
05/19/2008 5:14 pm
Rest in Peace
coinguybrian's Avatar
United States
5375 Posts
 Posted 05/19/2008  5:38 pm  Show Profile   Bookmark this reply Add coinguybrian to your friends list Get a Link to this Reply
no I just meant if someone passed away or they're moving and they're just selling all their stuff on their own without the help of a professional

though, I definitely think you're right about the numbers, BECAUSE that one I went to when I was young had at least a hundred people or more. if there's a low number can you get extreme reductions in price or is there usually a substantial starting price/reserve?
Pillar of the Community
eaglefoot's Avatar
United States
6326 Posts
 Posted 05/19/2008  6:19 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
Well if there is an auctioneer involved "everything" will be auctioned off.....and I mean everything.
They will have starting prices for things, as auctioneers have done so many of these that they generally tend to know what a certain item should be worth. But, they will come "down" on this, if no one bids on it or no one thinks the item is worth what the auctioneer starts at......yeah.....they'll go up or down whatever they need to do to sell the item....
Morgan silver dollars can start at $15.00 and before the bidding is done it could sell for $185.00 !!.....Yup !...(and it might only be worth $35.00)....But also, like I mentioned, if there aren't many people there and they're mostly after "golf clubs, furniture, vehicles, kitchen appliances, books, things like that.........THEY TEND TO CARE VERY LITTLE FOR THE "COINS" THERE TOO !!........."those" are the auctions that you want to go to !!
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