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<p>[QUOTE="calcol, post: 8153368, member: 77639"]Not surprising. 10% premium at GC vs 20% at the other two. That plus more and more folks feel comfortable bidding and buying over the internet. The most important factor is consignment. When more and more high-end coins get consigned to GC, the other two will have to drop their premium to stay in the game. And that will mean expensive live auctions and printed color catalogs will go the way of minstrel shows.</p><p><br /></p><p>Even though it’s called buyer’s premium, it’s the seller that pays it. If I’m going to bid on a coin, my maximum bid will take into account the premium. My bid will reflect the total amount I’m willing to pay. The higher the premium, the lower the bid will be to keep the total cost of acquisition constant.</p><p><br /></p><p>Consignors, especially those of high-end coins, know that’s the way most bidders operate. Suppose you are going to consign a coin worth $10k total value. Are you going to consign it to an auction house where you’ll get $8.3k and the house gets $1.7k (20% premium) or an auction house where you’ll get $9.1k and the house gets $0.9k (10% premium)?</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 8153368, member: 77639"]Not surprising. 10% premium at GC vs 20% at the other two. That plus more and more folks feel comfortable bidding and buying over the internet. The most important factor is consignment. When more and more high-end coins get consigned to GC, the other two will have to drop their premium to stay in the game. And that will mean expensive live auctions and printed color catalogs will go the way of minstrel shows. Even though it’s called buyer’s premium, it’s the seller that pays it. If I’m going to bid on a coin, my maximum bid will take into account the premium. My bid will reflect the total amount I’m willing to pay. The higher the premium, the lower the bid will be to keep the total cost of acquisition constant. Consignors, especially those of high-end coins, know that’s the way most bidders operate. Suppose you are going to consign a coin worth $10k total value. Are you going to consign it to an auction house where you’ll get $8.3k and the house gets $1.7k (20% premium) or an auction house where you’ll get $9.1k and the house gets $0.9k (10% premium)? Cal[/QUOTE]
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