I have a number of Australian proof sets to be sold at auction for a friend (I collect US exonumia). Both Heritage and Stacks Bowers are interested in featuring in their NYC January sales. But I have to wonder if these sets (includes 1934 gem proof, 1955, 1959, 60, 61, 62, etc. some Perths) would be better sold in Australia? However I know nothing about the Australian numismatic scene. Who are the major auction houses, what are their fees and what do you recommend? Thanks, Ken
Early proof pre-decimal Australian coins are quite SCARCE. Please do post a photo! Look at this example http://www.downies.com/Australian-P...-Proof-Set-PCGS-PR62-66/8445/productview.aspx
Downies and Noble are the two big boys there I believe. There's also NumisBid and Roxbury's but no idea how it would do there and don't really know anything about the last one. Just remember you also need to factor in currency conversion if you sell it there. Right now 1 Aussie dollar is about 80 cents in USD
The 1934 should bring in big money. The later dates will be decent, I've seen a few complete later proof sets on ebay. I for one would appreciate some photos That 34 set is one I could only dream of owning.
Thank you all for your inputs. That 1934 set link for AUD 75K seems expensive. One sold in January for $32K US which I believe is the same set. Here's how Richard Ponterio of Stacks described the set that sold: Price realized: 32,000 USD (Approx. 30,262 EUR / 25,978 GBP / 32,445 CHF) Australia George V 6-Piece Certified Proof Set 1934, 1) 1/2 Penny - PR63 Red and Brown PCGS, KM22 2) Penny - PR62 Red and Brown PCGS, KM23 3) 3 Pence - PR65 PCGS, KM24 4) 6 Pence - PR65 PCGS, KM25 5) Shilling - PR66 PCGS, KM26 6) Florin (2 Shillings) - PR65 PCGS, KM27 All the same grades except the 1d, perhaps a typo on someone's part. It would appear that Downies bought the set at 32K and are offering at .8 * 75 = $60K US, a nice markup. But perhaps they are giving themselves some room to discount. Heritage estimated $35K for the one I'm handling whereas Stacks estimated $20 - $40K. I'm currently corresponding with Downies and yesterday sent an enquiry to Noble but haven't heard anything back yet. Downies says they sell by private treaty only. i will look into NumisBid and Roxbury's. As for pictures, I *love* pictures and collect pictures of coins that I can't afford. So you are all welcome to the hi-resolution pictures here: https://www.dropbox.com/sh/ybwbeswycecemf2/AADZvZUy0mzYsO2mqks-MLPRa?dl=0 Feel free to share the link with others. BTW I think the set I'm handling is nicer than Downie's current set - but perhaps I'm biased ;-) Thoughts about better success selling in Australia vs US with live Internet bidding? I've been told "coins always sell better in their country of origin"
Currency conversion and any fee they have in paying you will be a major issue selling there. Just from the difference in the dollar value it basically has to sell for 20 percent higher there to break even currency wise. Then you need to see if they are going to charge you a fee for paying you in USD or if they will make you have it converted yourself which would be another fee. The other thing would be make sure you know how it would be taxed if sold there considering it's a sizeable amount and they tax things heavily. The auction house fees themselves would also be a factor, but if you can get decent terms from Heritage or Stacks that will probably be the way to net the most in your pocket all things considered. I feel like there's a strong possibility that the price realized may be higher there but after all the fees and conversion you would end up with less considering Heritage and Stacks do regularly sell world rarities. If you can arrange a private sale over there that may be a different story
Even if you sold it in the US you could still probably attract Aussie buyers if it was a nice set like the 34. Then they're the ones who have to deal with the currency exchange. Or you could sell it me for $30
Thanks again for your inputs. Still haven't heard from Noble. Am now leaning strongly towards Heritage, having heard more from Michael Peplinski there. Attaching an image of the 1934 proof sets that Heritage has sold in the last twelve years that he forwarded me. It appears that they have sold at least four of these sets, all in their January World Coin auction, and for very attractive money. Plus the uncertainties regarding securely transferring the coins to the auction house, international taxation, etc. I'm feeling safer staying at home. I guess I'm really pleased to see Heritage has sold these before. Plus their BF is 17.5% to Stacks Bowers 20%. Thanks again for everyone's insights.
Oh interesting ... I hadn't thought of that. Do you know any details of specific instances where that has been negotiated? I guess another thing I could ask for is for them to foot the bill on the PCGS certification which I believe (per Stacks) will be about $40 per coin. While I think the '34 I'm brokering is very attractive, I don't know that it will go to six figures (I can hope!) I hear the Australian market has been weaker in recent years. Also while the silver is quite pristine, I think 65 or some maybe better, the penny has fingerprint traces on the rev. Of course what matters is what PCGS thinks ... Do people think the 1959, 1961, etc. set coins should be individually graded? I think some of those sets only retail for $500 or so. Thanks, Ken
Exact details no, but if its six figures you have leverage. There's some CU threads with more specifics about it from people that have had the leverage to get it. It's really whatever you can get, grading fees shouldn't be hard to get covered at that price range and at the very least should have a greatly reduced or nonexistent seller fee I would think. Their economy is weak at the moment, but that sets in the price range where those buyers shouldn't really be impacted and you'll probably get more than just Aussie bidders anyway.
I have heard that the Aussie proof market was on the down. And those later sets, while worth some money. Might not be worth selling in an auction.
I would request a 105% deal. Stack's is always a bit conservative in their auction estimates, as are many competitors. I eventually went with them on some fairly big ticket items. Super service. I have only bought and not sold from the two Aussie biggies and Heritage.
Hi Ken,There are a number of excellent Numismatic auction houses here in Australia. You will find these on the web--International Auction Galleries (aka IAG Auctions), Roxburys Auctions etc etc. Suggest you deal with an ANDA member (Aust. Numismatic Dealers Assocn) as they have certain stated standards their members must sustain. You will find the dealers under ANDA. Good luck, Ivan (in Brisbane)
First get them certified by PCGS, I cannot stress how important this is for potential buyers. For the 1934 sets, Nobles, IAG and NumisBid (maybe Roxburys, I haven't followed them much but they do get material of this calibre) are the Australian auction houses who have sold 1934 sets in recent times. The IAG set didn't have the copper but it sold well (though was an outstanding set). Nobles got $30000 and NumisBid got $34440 but in my experience with Nobles for coins like this you can negotiate the seller's commission completely out as they charge buyer's premium while NumisBid doesn't, that being said NumisBid only charges 10% sellers so even with 0% commission from Nobles, it still ends up ahead slightly. Heritage gets outstanding prices for this kind of material just make absolutely sure to get it certified by PCGS first, otherwise they will certify them through NGC and they will undersell. Make sure to completely negotiate their commission down to 0% and even try to get some of the buyer's premium on top. For the later proof sets NumisBid gets by far the best prices, if your 1955 penny makes PR67RD it might sell for as much as your 1934 set, NumisBid got $30k for this one a few years back: https://numisbid.com.au/Browse/numisbid_auction_@44/pre-decimal_proof_coins/
