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<p>[QUOTE=&quot;Victor, post: 647206, member: 5454&quot;]I recently attended a few coin auctions at three different small time places.</p><p>And all 3 were vastly different.&nbsp; The first one was ten percent fee with five percent state tax.&nbsp; People were bidding nine or ten dollars each for worn out common Franklins and 20 to 25 bucks for common junk, polished Morgans.</p><p>I passed on everything except when some one ounce silver bullion came up.</p><p>There was one lot of .999 bullion world coins all in the Littleton soft plastic presentation packaging.&nbsp; I think that the crowd didn&#039;t know what they were.&nbsp; There was one or two bids then I jumped in.&nbsp; I won the whole lot for $16.16 each total price.&nbsp; Included were Maple Leaf, Kukaburra, Libertad, nice proof like Brittania,</p><p>and Zambia 1000 kwatcha.&nbsp; I dumped a few to the guy sitting next to me for my cost.</p><p>&nbsp;A few weeks later the same place had another auction on a Thursday night.&nbsp; Only ten people showed up.&nbsp; It was a fiasco except for a young kid who kept outbidding on common stuff.&nbsp; He bid a rather drab looking set of Ikes in Dansco up to $350!&nbsp; They sell for $200 or $250 for a nice set.</p><p>I got a set of Liberty nickels in a Whitman classic album [minus the 3 keys] for $118.00.</p><p>After no bids on a dozen things they shut down the auction,&nbsp; HA what a fiasco.</p><p>&nbsp;The second auction was just like the first with young and old alike bidding stupid money for heavily cleaned and polished common Morgans.&nbsp; Only these were in the Coin World self slabs.&nbsp; I passed on everything.</p><p>&nbsp;The last one I went to was auctioned on consignment by a local dealer/auctioneer I have dealt with.&nbsp; This was a good auction with a lot of nice stuff and small crowd of intelligent collectors/dealers.</p><p>I picked up a decent 1928 Peace dollar for $374 and a 1904 half cent, plain 4 stemless for $71.50.</p><p>The Peace dollar was the last one I needed to complete my set.</p><p>The half cent went into my 7070 type set.</p><p>So the point is, not all auctions are alike and not all bidding groups are alike.</p><p>Attend the preview and do your homework.&nbsp; And look out for the add on fees.</p><p>I factor in the fees first thing and write down a number to stop at.</p><p>Most of the time the crowd keeps bidding well after a sensible person would quit.&nbsp; And sometimes the crowd has not done any homework so they don&#039;t bid.[/QUOTE]</p><p><br /></p>

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