Well I have a guy coming to the house tonight to look at my coins. I've been wanting get rid of them for some time now. To be honest I'm sick to my stomach to think I wont have them much longer. He's just coming over to see what I have and give me some details. I dont want to let them go till silver goes up. I've been going to this guys auctions for about 20 years now so I know he's not some guy starting out. 1 thing I dont want to happen is that once tonights meeting is over he doesnt start calling me asking me if I'm ready.
In Freakanomics by Levitt, they explore the fact that Realtors keep their own houses on the market, and hold out for the right price. The fact that you are willing to hold out+ making this post is a good start. Good luck sir, don't give in to a lowball.
Sending anything to auction can be risky. Have the coins that ran across his auction block been close to or exceeded market value at the time? Many variables determine what you will expect to get from your auction. Here's a few: Are there many collectors attending his auctions? Are many of your coins common dates or lower grades? Have you won most auctions of coins that were well below market value? Does his auction pack the house? How well versed is he about coins? These are some of the points to consider when taking coins to auction. You said you are sick to the stomach when thinking about selling your collection. If it is not necessesary to turn your collection into cash, I would pay attention to your gut (no pun intended) feeling. On the flip side, precious metals are expected to climb this year after taking quite a hit in the last few months of last year. Experts say that the peak may be sometime this summer. We'll see. I wish you the best in whatever decision you make.
Well the guy just left. He hit my number that I was going for on how much they are worth and he said I have enough coins for 3 auctions. He wants 10% plus advertizing
I think auction fees aren't really standard. One guy I know charges a flat 25%. Another charges 12%, plus expenses (he usually runs multiple estates at the same sale, so if you're one of three, you pay 1/3). With 10%, the auctioneer is probable charging a buyer's premium as well, usually 10-15%. He gets more money to the seller this way, and still makes money for himself. Good luck with the sale.
No where specific, I just thought they could go anywhere from 30-40% but now that I think about it, 40% sounds way to high...
If it was 40% I would just give them away on the street. I thought 20% sounded bad. When he told me 10 plus advertising I didn't think that sounded to bad. I know he has to make a buck too.
