Best Auction Companies for Sellers

I have tried Teletrade and Heritage Auctions, and recently Great Collections, all with mixed results. There is no substitute to auctions in getting exposure for coins you want to sell. Any one have experiences they want to share, both positive and negative, in terms of results, efficiency, prompt payment, quality of their systems, etc.?

 

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I would certainly like to hear more about your own results as well as those of others. Why were your results mixed, and in what way? What did you sell, and what did you learn as a result? Promising thread ... thanks.

 

I am with giorgio11 on this one. How did you do on the sites - were they major auctions, or tuesday sunday type auction? How prompt were the various sites in paying you? I also agree this is a promising thread for information for others thinking about selling.

 

Teletrade has a very efficient and user-friendly system. Good on coins under $500, but hard to get market on gold coins, especially $20 Liberties and Saints, what with their 15% buyer premium, you have to spend an additional $300 when the hammer is around $2000. They were much better @ 5.5% for gold.

Heritage offers better exposure for really rare coins, has the best information on auction records and current market prices. Long wait period from sending them the coins and getting paid. Minimum for consignment precludes some submissions.

Great Collections is paying $10K a week on advertising and they are building their market share and reputation. A different sort of system, more responsive and unspoiled than the others. Quality CAC material does well. Buyer pays 10% over hammer, seller pays nothing over $2000. They will get your coins certified for $18 a coin or so and get it done quickly as PCGS is just down the road.

Some auction companies will encourage you to run your coins without a reserve--this could cost you dearly if the market is soft in that area, or if they have a gamed system. All big companies have an inside track which gives them a big advantage on bidding, over buyers and sellers who have to pay fees usually and have to wait.