This year, Heritage and Stack's & Bower's are co-hosting major competing auctions at the Summer ANA in Chicago. I have never consigned coins to an auction house before, but this time, I wanted to. Here's my experience: I lined up 5 coins that based on past auction results I think will bring a minimum of $18,000 total and perhaps well into the $20,000's. Here are the coins: 1. 1927-S Standing Liberty 25c PCGS & CAC AU58 OGH 2. 1814 Capped Bust 50c Single Leaf variety PCGS & CAC AU50 (condition census) 3. 1806 Draped Bust 50c PCGS AU53 4. 1835 Capped Bust 50c PCGS MS62 5. 1820/19 Capped Bust 50c Square Base 2 variety PCGS AU58 First I called Heritage. They were very interested in having my coins for the Summer ANA auction, and polite on the phone. They asked that I send them the coins, then they would charge me $20 per coin for the non-CAC'ed coins so that they could send them out. They agreed that I could get 100% of the hammer price (meaning no seller fee). I asked if I could have 5% of the buyer's premium as well (since a friend of mine said he routinely gets this at Heritage... I know, I was stunned to find this out, too). I was told that in order to qualify for getting 5% of the buyer's premium (which is 17.5% for them), that I had to apply as a dealer and submit my Federal ID and tax number, which I don't have since I'm just a small online dealer. Next I called Stack's & Bower's. They were very interested in my coins as well. I was told that they were auctioning off a newly discovered 1817/4 Capped Bust Half in a PCGS VF details, tooled holder at the Summer ANA, thus drawing more attention to that series and my coins if I consign with them. THAT was a good selling point for me! I asked them if I could have 100% of the hammer price and 5% of the buyer's premium. He counter-offered at 3% of the buyer premium and said he would send my 3 un-CAC'd coins to CAC for free and I could ship the coins to them for free using their account. I countered at 4%, and he agreed. No applications, no fuss, and they set up an account for me right then and there. I get 104% of the final price, 3 coins sent to CAC for free, and it doesn't cost me a dime to ship them out. Well played S&B! You made it easy, fast, hassle-free, you advertise my coins well, and I get maximum profits. I am one happy guy!
I can't blame you I've noticed lately s&b have had more of the early coins I love too ha has had a lot of commoner and problem stuff with exceptions and their best stuff has been unbuyable
Yup as do most auction houses the bigger the more they charge Sotheby's and Christies are up to 25% bp you can on a major lot negotiate 115% of hammer I have a friend that's head of American furniture at Sotheby's I remember when the bp was 10% if at all was about 50/50 now if you can only find 10% your lucky at least in New England I know there's quite a few farm sales in the south with no bp still
