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Paying too much? Auction bidders ignore % premium
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<p>[QUOTE="chaparralian, post: 25248491, member: 106333"]I've been watching a few Morgan dollars and large cents at Heritage Auctions. What is surprising to me is how willing bidders are to pay more than the listed retail (via NGC pricing) on coins... sometimes hundreds of bucks over.</p><p><br /></p><p>Recently an 1836 AU 55 large cent went for $456. The NGC price is $405. An 1853 MS64 large cent went for $552. NGC price is $500. Not big differences, but still...</p><p><br /></p><p>I know the market is the market, but it seems to me that a lot of auction buyers don't seem to be considering adding the % "buyers" premium to the final price they'll be paying when bidding, or don't care. I'm finding better prices from dealers direct.</p><p><br /></p><p>Thoughts?[/QUOTE]</p><p><br /></p>
[QUOTE="chaparralian, post: 25248491, member: 106333"]I've been watching a few Morgan dollars and large cents at Heritage Auctions. What is surprising to me is how willing bidders are to pay more than the listed retail (via NGC pricing) on coins... sometimes hundreds of bucks over. Recently an 1836 AU 55 large cent went for $456. The NGC price is $405. An 1853 MS64 large cent went for $552. NGC price is $500. Not big differences, but still... I know the market is the market, but it seems to me that a lot of auction buyers don't seem to be considering adding the % "buyers" premium to the final price they'll be paying when bidding, or don't care. I'm finding better prices from dealers direct. Thoughts?[/QUOTE]
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