Bertolami raises buyers fee again

Like everyone else in the above postings, I really don't like paying high buyer's fees. But when I bid, two things determine how high I am willing to go: how badly do I want the coin and is the price including the fees reasonable. I bought the coin below through Bertolami mainly because I thought it was cheap at the price I paid. And that was including the 24% buyer's fee. I was sure it was a good buy because I had researched it fairly thoroughly before I bid. The coins below the one I purchased are what I used to compare with my purchased coin.


Starting Price: 100 GBP
Price realized: 1000 GBP

Mysia, Kyzikos, Hekte – Sixth Stater, ca. 500-450 BC; EL (g 2,67; mm 9). Ram standing l. on tunny l.; Rv. Quadripartite incuse square. Von Fritze I 91; SNG BnF 228. Extremely fine




Price realized 2'600 EUR

MYSIA. Kyzikos. EL Hekte (Circa 500-450 BC).
Obv: Ram standing left on tunny left.
Rev: Quadripartite incuse square.
Von Fritze I 91; SNG BN 228.
Condition: Extremely fine.
Weight: 2.67 g.
Diameter: 12 mm.





MYSIA, Kyzikos. Circa 500-450 BC. EL Hekte – Sixth Stater (11.5mm, 2.66 g). Ram standing left on tunny left / Quadripartite incuse square. Von Fritze I 91; Boston MFA 1468 = Warren 1554; SNG BN 228. Near EF, toned, slightly off center.
CNG 103, Lot: 208. Estimate $750.
Sold for $4250. This amount does not include the buyer’s fee.





MYSIA, Kyzikos. Circa 500-450 BC. EL Hekte – Sixth Stater (11mm, 2.63 g). Ram standing left on tunny left / Quadripartite incuse square. Von Fritze I 91; SNG France 228; SNG von Aulock –; Boston MFA 1468. Near EF, lightly toned, slight die shift on obverse.
Triton XVI, Lot: 426. Estimate $1000.
Sold for $2400. This amount does not include the buyer’s fee.

Now the coin cost me 1000 GBP or $1300 at the time with a total of $1660 with fees, shipping, and insurance. The three comps I found sold for 2,600 EUR or $3120, $4250, and $2400 before fees. My point is that even with the high buyer's fee of 24%, the coin was a bargain. So it is important to me to do as much research as possible before bidding. I look for undervalued coins and seldom bid more than I think the coin is worth.

 

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Most of these firms own the coins and have retail-level opening bids, at least when it comes to ancient coins.

 

If that true, then let the market drive them out of business.

 

I’ll pay it. I am sick and tired of auctions. You see something you like, and some bozo or two drives the bids to the moon. I get hosed at auction 95% of the time. I can count on one hand the times I got “a bargain” over the last 20 years.

One time I watched a lot I upon which I had left a reserve close on-line at an attractive price. I waited for 40 lots to make sure they didn’t re-open it.

The next day I saw on a blog where that lot had sold for more than it had closed for at the auction. I called the auction house. Their answer:

“Oh we missed a ‘snail mail’ bid that we didn’t execute.”

Like HE**! The auction hammer dropped. What are you talking about? We are talking about $1,000 here. You didn’t get the price you expected so you hosed me.

At one time auction house in the running to my collection. No more.