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<p>[QUOTE="nicholasz219, post: 4517947, member: 75641"]There are a lot of worthwhile thoughts in this thread and I, like others, am happy to be asked for some feedback. Thanks for listening [USER=112660]@MSG 78[/USER].</p><p><br /></p><p>I tend to agree with [USER=104741]@Ignoramus Maximus[/USER] on many points here. His view generally seems to mesh with the view of MSG in that if you wanted a coin and didn’t mind paying retail, you would go to the shop of a dealer and pay retail to add the coin to your collection at a price you are comfortable with. But that is an entirely different experience than the auction experience where I believe that hope reigns supreme in that you may get a coin maybe only offered in the auction format and maybe at a relative bargain.</p><p><br /></p><p>I don’t think I’ve ever been successful at a CNG auction. Most of the material is out of my league. A lot of the stuff that I can afford in a CNG auction doesn’t make sense to buy because when I factor in juice and shipping, what seems like a bargain suddenly is very much not. Just as dealers must factor in costs to put a coin up for auction, I’ve got to do the same because somewhere in the future my wife will have to get rid of all of these things and the more money I spent on them now probably means a worse return on those items in the future. But if I can only expect about 60% back on retail then the more fees, shipping and being upside down on the exchange rate only makes the possibility of breaking even more unlikely. So if I bid on overseas auctions where I know I am fighting juice, the shipping and exchange rate I tend to target items that I think I can realistically win at relative bargains with all of those costs in mind AND I also bid on more of those lots to defray the costs. </p><p><br /></p><p>With that in mind, I would keep your fees where you need them to be to run your business and keep them as simple and up front as possible always. Estimate realistically on what you think hammer price to be because I think that is how most of the buyers look at it. I think keeping opening bids on the lower side generates excitement and more importantly, hope for collectors to get in at some point because they may get a break from retail even when adding in fees.</p><p><br /></p><p>I’m hopeful to win some coins in the future from CNG. I’ve tried and failed because of what [USER=31620]@maridvnvm[/USER] aptly described as a specialist war where I’m low on ammo.[/QUOTE]</p><p><br /></p>
[QUOTE="nicholasz219, post: 4517947, member: 75641"]There are a lot of worthwhile thoughts in this thread and I, like others, am happy to be asked for some feedback. Thanks for listening [USER=112660]@MSG 78[/USER]. I tend to agree with [USER=104741]@Ignoramus Maximus[/USER] on many points here. His view generally seems to mesh with the view of MSG in that if you wanted a coin and didn’t mind paying retail, you would go to the shop of a dealer and pay retail to add the coin to your collection at a price you are comfortable with. But that is an entirely different experience than the auction experience where I believe that hope reigns supreme in that you may get a coin maybe only offered in the auction format and maybe at a relative bargain. I don’t think I’ve ever been successful at a CNG auction. Most of the material is out of my league. A lot of the stuff that I can afford in a CNG auction doesn’t make sense to buy because when I factor in juice and shipping, what seems like a bargain suddenly is very much not. Just as dealers must factor in costs to put a coin up for auction, I’ve got to do the same because somewhere in the future my wife will have to get rid of all of these things and the more money I spent on them now probably means a worse return on those items in the future. But if I can only expect about 60% back on retail then the more fees, shipping and being upside down on the exchange rate only makes the possibility of breaking even more unlikely. So if I bid on overseas auctions where I know I am fighting juice, the shipping and exchange rate I tend to target items that I think I can realistically win at relative bargains with all of those costs in mind AND I also bid on more of those lots to defray the costs. With that in mind, I would keep your fees where you need them to be to run your business and keep them as simple and up front as possible always. Estimate realistically on what you think hammer price to be because I think that is how most of the buyers look at it. I think keeping opening bids on the lower side generates excitement and more importantly, hope for collectors to get in at some point because they may get a break from retail even when adding in fees. I’m hopeful to win some coins in the future from CNG. I’ve tried and failed because of what [USER=31620]@maridvnvm[/USER] aptly described as a specialist war where I’m low on ammo.[/QUOTE]
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