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I'm done buying coins at an auction. If you never been to a coin auction, read this!
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<p>[QUOTE="omahaorange, post: 1488662, member: 28199"]Oops, I have been to auctions, and accidently read the post anyway. But, since I'm here:</p><p><br /></p><p>Like others have said, auctions have been this way for quite a few years. The internet, more than anything else, has fueled the increased bidding on any "collectible" item, not just coins. Most items older than brand new go for high prices. Reality TV has now added to the growing number of people who think they can strike it rich through auctions. One of my favorite things to do is go to a local auction on a Saturday, then go to the local flea market on Sunday to see how the high (and I mean HIGH) bidders are pricing their newly acquired stock.</p><p><br /></p><p>I do like the local flea market, but I deal with only two or three coin vendors on a regular basis. I think one point needs to be addressed:</p><p><br /></p><p><b>Prices are fixed, you can haggle. </b>This is a contradiction in terms. If the price is <i>fixed</i>, you can't <i>haggle</i>. Prices at flea markets, for the most part, are <i>negotiable</i>. But keep in mind, the vendors know the game as well (and probably better) than you. They set prices artificially high, so when the haggling commences, they come down to a more normal (read- retail) level, knowing the buyer thinks he got a good deal because the vendor knocked $10 off his asking price, while still overpaying for the item.[/QUOTE]</p><p><br /></p>
[QUOTE="omahaorange, post: 1488662, member: 28199"]Oops, I have been to auctions, and accidently read the post anyway. But, since I'm here: Like others have said, auctions have been this way for quite a few years. The internet, more than anything else, has fueled the increased bidding on any "collectible" item, not just coins. Most items older than brand new go for high prices. Reality TV has now added to the growing number of people who think they can strike it rich through auctions. One of my favorite things to do is go to a local auction on a Saturday, then go to the local flea market on Sunday to see how the high (and I mean HIGH) bidders are pricing their newly acquired stock. I do like the local flea market, but I deal with only two or three coin vendors on a regular basis. I think one point needs to be addressed: [B]Prices are fixed, you can haggle. [/B]This is a contradiction in terms. If the price is [I]fixed[/I], you can't [I]haggle[/I]. Prices at flea markets, for the most part, are [I]negotiable[/I]. But keep in mind, the vendors know the game as well (and probably better) than you. They set prices artificially high, so when the haggling commences, they come down to a more normal (read- retail) level, knowing the buyer thinks he got a good deal because the vendor knocked $10 off his asking price, while still overpaying for the item.[/QUOTE]
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I'm done buying coins at an auction. If you never been to a coin auction, read this!
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