Curious About Auction Details - Coin Community Forum

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Author	Replies: 5 / Views: 954
howell1018 Pillar of the Community United States 717 Posts	Posted 09/28/2021 3:02 pm I don't worry about this because it's never going to affect me, but.....Almost weekly I see in the Numismatic press a report of some coin that sold at auction for an astronomical price. I know that auction houses tend to charge on the order of 15-18%, but do they still get that for an item that hammers in the area of 7 figures, or do they have some sort of sliding scale. My Coin World that came yesterday has coverage of a coin that was auctioned for over $7 million. At 15% that's a fee of over a million dollars. Report this Post to the Staff

hokiefan_82 Pillar of the Community United States 3636 Posts	Posted 09/28/2021 3:25 pm For the auction sites I use, the buyer's fees for numismatic items are fixed - 20% at Heritage and Stacks Bowers, 10% (or 12% if paying by credit card) at GreatCollections. I know for Heritage they do have a sliding scale for some types of listings, but not coins or currency... Member of SPMC, FCCB, ANA and ANS. My U.S. Classic Commemorative Complete Set: https://www.NGCcoin.com/registry/co...sets/278741/ My U.S. Fractional Note Set: https://notes.www.collectors-societ...eSetID=34188 Report this Post to the Staff
howell1018 Pillar of the Community United States 717 Posts	Posted 09/28/2021 7:09 pm I was more interested in the fee to the seller. Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21786 Posts	Posted 09/28/2021 8:13 pm For coins that have the potential to be sold for huge prices, I have no doubt that some sort of negotiation can take place before the auction regarding the seller and the auctioneer regarding fees. As a parallel, sliding scales exist for agents for real estate negotiations, and can form part of the contract between the agent and seller. Edited by sel_69l 09/29/2021 03:54 am Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 09/30/2021 02:43 am Quote: I was more interested in the fee to the seller. Sellers fee is negotiable based on the value of the consignment and can run from the seller paying 5% (receiving 95% or the happer price) to receiving 105% of the hammer price. In the case of that $7 million coin the seller almost certainly received 105% of the hammer price. Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 10/03/2021 11:49 am Just one of the reasons I do not use auctions. Report this Post to the Staff
	Replies: 5 / Views: 954

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