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Pillar of the Community
United States
3479 Posts |
After following distinct Seated dollars that have sold on various auction sites over the last year, I have come to the conclusion that a large portion of them show back up for resale on ebay or other auction sites by dealers or flippers. It begs the question: what percentage of bids on auction sites are coming from dealers? Though we will never be able to determine an exact percentage, we can keep a running record of them here to educate fellow members. So if you remember a coin from any series that came back up for resale on ebay or another site, post them here. @admins: feel free to move this to the appropriate section for proper attention. Edited by MikeF
03/19/2018 01:39 am
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Pillar of the Community
 United States
3479 Posts |
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Pillar of the Community
United States
2023 Posts |
I've noticed this fairly often on ebay, when I look up PCGS certification numbers and see references to "Latest Auction Appearances of This Coin". There's a definite markup from Heritage, which is expected considering buyer's fees and dealer profit. I'm so used to other auction sites' processes, still can't figure out how Heritage works (the UI is horrible) and they charge a significant buyer's fee so I don't mind paying a mild premium for a piece that "just" came from Heritage. Key word: mild. It saves me time and frustration. I know I just saw one of these cases among my searches the other day but it's not coming up for me now. When I come across it or another one, I'll post it here. |
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Pillar of the Community
United States
3479 Posts |
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Pillar of the Community
United States
2023 Posts |
Edited by Alpha2814
03/19/2018 01:06 am
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Pillar of the Community
United States
4469 Posts |
I have flipped coins that I purchased at Heritage on ebay for both a profit and a loss. I looked at it as a business plan and the profit is slim to none. I could often sell the purchased Heritage for a little more on ebay, but could not beat the ebay fees, PayPal fees, shipping cost and my time. |
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Pillar of the Community
United States
3479 Posts |
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Bedrock of the Community
13014 Posts |
Quote:
It begs the question: what percentage of bids on auction sites are coming from dealers? Depends on the site. I bet it's very low at Legend, but probably pretty high at some second tier sites considering how weak a lot of stuff sells for |
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Moderator
 United States
34413 Posts |
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Pillar of the Community
United States
2023 Posts |
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Pillar of the Community
Canada
1267 Posts |
I know of a few pieces that have been purchased from the Legend auctions and subsequently shown up on dealer's sites.
Three Morgans from the Flanagan collection ended up on Mike's Coin Chest (Mike Bibby), and were marked up the typical 15%. All are gone now, including the 1887 that I purchased.
Pinnacle Rarities has an 1878-cc with a beautiful blue textile tone that came from Legend as well. It's been marked up a very small percentage.
What one has to keep in mind is that dealers often don't have to pay the same juice that we do, so instead of a 15% buyers premium it might only be 10%. I remember Mike DeFalco telling me about it when he acquired most of the better Battle Creek coins.
I believe that a lot of dealer's are looking for nice pieces wherever they can find them, and that certainly includes auctions. Heck, even Legend shops out of their own auctions when they feel a suitable piece is selling too cheap. They state that in their item descriptions. I also know that Laura shops in the other major auctions, as she often discloses where pieces came from and what she paid.
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Pillar of the Community
United States
7375 Posts |
Don't have an exact coin in mind, but have seen plenty. On ebay, I can 'usually' tell if I'm bidding against a dealer, if they have a large feedback number. |
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Bedrock of the Community
13014 Posts |
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Still, that's a hefty increase. Not really a good example when over a year has passed |
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Pillar of the Community
United States
3479 Posts |
I knew this coin looked familiar. 1807 draped bust half xf-40 sold on Heritage for $1,527.50 https://coins.ha.com/itm/a/1254-3254.sNow up for auction on Legend with new CAC approval: https://legendauctions.hibid.com/ca...ession-2018/? Edit: Sorry, Legend doesn't create a unique URL for each coin. You'll have to scroll down the list to see it. It's comical that a company that claims to have the best coins has a cheap, piece of crap website. Get with the program, Legend!  Edited by MikeF
03/20/2018 10:14 pm
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Pillar of the Community
United States
3479 Posts |
Edited by MikeF
03/20/2018 11:07 pm
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Pillar of the Community
Canada
683 Posts |
How did that 1848 even straight grade with nasty gash on the 12 'o' clock point on the reverse?!
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Replies: 53 / Views: 8,728 |
Posted 03/19/2018 12:18 am
