Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
300,000 items to help build your collection! Specializing in Modern Numismatics Shop for APMEX Bullion on eBay!Coin, Banknote and Medal Collectors's Online Mall Vancouvers #1 Coin and Paper Money Dealer Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. Join Thousands of Coin, Bullion, & Money Collectors








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

Coin Auction Realities

To participate in the forum you must log in or register.
Author Previous TopicReplies: 6 / Views: 1,489Next Topic  
Pillar of the Community
howell1018's Avatar
United States
719 Posts
 Posted 01/27/2019  1:42 pm Show Profile   Bookmark this topic Add howell1018 to your friends list Get a Link to this Message Number of Subscribers
I have never participated in a coin auction outside of ebay which I don't consider a traditional auction. My question is, do realizations tend to be guided by the buyers premiums? For example, I'm currently interested in acquiring an MS65 example of a 1909-S VDB penny in RB (red brown) in a PCGS or NGC slab. PCGS market guide says this coin should retail around $3,000. Heritage has such a coin in their upcoming Long Beach show auction. Is it likely (I realize there are many factors that come into play) that the winning bidder will have to bid close to $3,000 minus the 20% buyers premium, or the full $3,000. I know it's hard to generalize, and winning bid depends on the individual coin and the individuals who happen to be bidding, or not bidding, on the particular coin. I should probably go look at past realizations. Perhaps I just answered my own question.
Pillar of the Community
Alpha2814's Avatar
United States
2023 Posts
 Posted 01/27/2019  1:53 pm  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
I've bid on items at David Lawrence, Great Collections, and Heritage. They all have different policies for buyers premium and auction terms, but I can assure you that the buyers premium is among the considerations when I'm bidding. A 20% premium on a $3000 bid is $600. Wouldn't you consider that additional cost in your bidding strategy? Yeah, you probably answered your own question.

It can get a little confusing looking at past results. I'm pretty sure PCGS includes the buyers premium in their auction history, as that is the final price the buyer paid (excluding sales tax, which is something else to consider if it applies to you).
Edited by Alpha2814
01/27/2019 1:54 pm
Pillar of the Community
Learn More...
tdziemia's Avatar
United States
7936 Posts
 Posted 01/27/2019  4:33 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply

Quote:
I should probably go look at past realizations


Here is what you will find if you look at the PCGS database of auction results for the last 6 months (July 2018-Jan 2019) on MS65 RB:
- 23 examples are in their database.
- If we throw out one anomalous high result, the remaining 22 examples had selling prices (yes, it does include buyers' premium) between $1980 - 3300 with a median of $2640. SO the PCGS market guide is reasonbable
- There was no statistically significant difference between ebay, Heritage and Stack's in selling prices (but this is a small sample).


Quote:
Is it likely (I realize there are many factors that come into play) that the winning bidder will have to bid close to $3,000

The answer to this is no. Since the median was $2640 including buyer's premium, it means there is a 50% chance you can get one for $2640 or less, including buyers' premium if you shop around various auctions, and if the market doesn't shift in some way.
And, of course, if you like what you see for that price
Edited by tdziemia
01/27/2019 4:40 pm
Bedrock of the Community
sel_69l's Avatar
Australia
21786 Posts
 Posted 01/27/2019  4:52 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
The only auctions I take part in bidding are public auctions.
When I am considering a bid, I always include all premiums, because that is the actual price I will have to pay, if I am successful.

A 20% premium has about a 20% of an influence in what I may bid for.
Pillar of the Community
MikeF's Avatar
United States
3479 Posts
 Posted 01/27/2019  6:20 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
When the listing goes live, the java platform they use will show you two numbers. Price without BP and price with BP so you don't have to calculate it yourself when in the trenches. And yes, bidders take that into consideration. I would assume all experienced bidders only watch the with BP price as I do.
Bedrock of the Community
United States
20753 Posts
 Posted 01/28/2019  10:03 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
I keep away from all kinds of bidding at any auction. I find just going to coin shows good enough for me.
Pillar of the Community
Learn More...
tdziemia's Avatar
United States
7936 Posts
 Posted 01/30/2019  12:51 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
@howell, I hope you'll eventually come back here and let us know how you did (of course with pictures!).

Hope you find something nice within your budget.
  Previous TopicReplies: 6 / Views: 1,489Next Topic  

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.23 seconds to rattle this change. Forums