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<p>[QUOTE=&quot;Publius2, post: 3662279, member: 105571&quot;]My first posting - I&#039;ve been lurking for a while, enjoying the byplay and appreciating the expertise!</p><p><br /></p><p>I agree with your strategy of deducting the buyer&#039;s premium from the calculated coin value.&nbsp;&nbsp; I employed the same arithmetic at the Heritage Summer FUN show auction and won my two lots (&gt;$5K total) for less than my maximum calculated bid amounts.&nbsp; I did a lot of price guide and auction research to come up with my numbers.&nbsp; For coins worth thousands, S&amp;H and insurance are not worth taking into account.</p><p><br /></p><p>Taking the buyer&#039;s premium into account in your bid is the only way to do this while employing some cost discipline.&nbsp; The auction company&#039;s &quot;juice&quot; is just the price the seller/consigner has to pay to play.&nbsp; I know, the buyer pays the buyer&#039;s premium but it is actually the seller who, usually but not always, winds up paying it by virtue of the lower bids.&nbsp; More woe to the consigner if his coins aren&#039;t good enough to negotiate away the seller&#039;s premium, usually 5%.</p><p><br /></p><p>Now, that said, any auction can work otherwise depending upon the item, the bidders, enthusiasm, hysteria, etc.&nbsp; But you know all that so I won&#039;t belabor it.[/QUOTE]</p><p><br /></p>

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