HA auction advice

Find a dealer who specializes to some extent in the coins in which you are interested. Look in the dealer list to see if they will have a booth at the show associated with the auction or call and ask if they’re going. If you have a relationship already with a dealer, they may evaluate the coin for you for free. If you want them to bid for you, the fee is negotiable, but 5% is common. This fee will be on top of the auction company buyer’s premium. Get it clear whether the 5% applies to the hammer price or total price.

Cal

 

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My approach WAS attending auctions (historical documents, autographs, etc) for years in my "early days" of building collections. Interesting enough, I was finding myself going over my intended "target price" (always figuring into my bid the Buyer's Premium) because of the "hunt-energy in the room-excitment of the chase". Now I simply deeply and aggressivley evauate and "Value-Research" the coin i'm interested in. I average recent sales of like-wise coins; compare that to "price-list-values"; compare condition/eye-appeal/flaws & pluses/and "value". At that time I fix on a "buy-it-value" and that becomes my max price to bid. Since "no-one" knows my max price, I just place that bid in. If I get out-bid ....so be it. There is ALWAYS another "like" coin in another auction around the next corner. .....works for me.

 

The issue that I have with this is that the company I would elect is likely one that has some of the coins I am seeking - which would obviously inflate my price substantially.

I prefer to handle my own, I know what I am after and what the market is. I'm going to go it lone wolf.

 

I completely agree, but I've honed the discipline to not get drawn in to overbidding in person. My dad never learned it. If it becomes a testosterone contest, you WILL overbid. Don't make it personal.

 

V. Kurt ..... Once again you fill these posts with good, logical and helpful advise. You're a "keeper"!

 

See that's my complaint as well... I collect Morgan's and prefer to buy them raw, everytime I go on Hertiages' website, every Morgan is already graded, what's wrong with selling them raw?

 

I don't know about foreign coins, but Heritage apparently won't sell raw US coins. Somebody correct me if I'm wrong.

 

How is Stacks about that?

 

I don't look at Stacks much. I find they are generally out of my pay grade. Besides, I had a bad experience once trying to deal with them.

 

I've never looked at Stacks so I'll take your word for it I guess. But getting back to Heritage, so basically it comes down to if I choose to buy off a auction site like Heritage (example: a coin for the right price) it's going to be graded..... or buy off eBay if I actually want it raw? Not a great trade off there.

 

I can tell you this about Heritage: you can get some good steals on their Sunday and Tuesday internet US auctions.

Also check out Great Collections and David Lawrence's auctions on Sundays. I have had real good luck with Lawrence on multiple occasions. Again, though, stabbed coins.

 

Sounds like the voice of experience talking.

 

Yeah that makes sense, I just don't like it