Message:

<p>[QUOTE=&quot;Valentinian, post: 2756262, member: 44316&quot;]Some people argue that auctions are higher priced and others argue that vcoins is higher priced. I limit my thoughts to auctions from coin dealers, not eBay, and coins worth $75 or more. Most auctions do not have many coins they think are worth less than $75. If you buy in that range, fixed-price sites and eBay are options. If we were all rational (ha!), I think auctions would be lower priced than coins on vcoins that appear frequently. Here&#039;s why.</p><p><br /></p><p>If buyer&#039;s do any research on the &quot;value&quot; of an upcoming lot, for example, by searching vcoins for comparable pieces, there would no reason to bid higher than the coin could be bought fixed-price. (I have seen coins go higher at auction, sometimes by a big factor, but that is what I meant by emphasizing &quot;rational&quot;.) That means, if auction fever does not take over, common types will sell for less at auction. Of course, that is including fees (discussed below). If you want an excellent portrait of Macrinus, why would you bid at auction higher than you could buy it for today on vcoins? The exceptions to be considered are for coins that do not appear frequently and for which closely comparable coins are not on vcoins.</p><p><br /></p><p>Auctions have the advantage for sellers that the coins will be turned into money (probably less money) at some particular time rather than hanging around unsold at higher prices. Fixed price sites have the advantage that if you want something now there are 200,000 coins to choose from and one you want might be there.</p><p><br /></p><p>I wonder how many of us decide we want some type and are willing to buy the next nice one that comes along, as opposed to waiting for a &quot;good deal&quot; which might take months or years to appear (by which time we might not want it anymore.) The economic scarcity of a given coin type is partly because people want it <b>now</b>. An auction closing in a week or today puts time pressure on the buyers. How many will bid on a scarce coin higher than it would be on vcoins (if they had one) or higher than it would likely be at some other auction within a month, just because it is available now?&nbsp; Vcoins dealers can afford to price coins higher. If it is there now, the buyer need not wait.</p><p><br /></p><p>Auction coins can go lower because the person who might want the coin the most (i.e. bid highest) is not paying attention that week, or that day, or their budget for the month is used up. Maybe the person who would buy it on vcoins a month from now has not even thought about wanting the type yet. Maybe it will pass under the radar until one gets posted on CoinTalk and demand for it jumps because one or two readers want it (that day, or week).</p><p><br /></p><p>Vcoins dealers can afford to price coins higher. They can wait until someone wants that type in that condition at that price. Auctions close at a particular time and have, I imagine, far fewer potential buyers paying attention. (I have friends who buy from vcoins and CNG, but don&#039;t look further, even when I point out a type they want in some other auction).</p><p><br /></p><p>At auction the final cost can be surprising. It might be offered in a foreign currency, there are &quot;buyer&#039;s fees&quot; and fees for paying with PayPal or credit card and shipping can cost a lot. Here is how I handle that, say, in an auction in British pounds.</p><p><br /></p><p>Look up the cost of a pound:</p><p><br /></p><p><a href="http://www.xe.com/currencyconverter/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.xe.com/currencyconverter/" rel="nofollow">http://www.xe.com/currencyconverter/</a></p><p><br /></p><p>It is $1.29 today. Buyers fees are, say, 16.5% (a factor of 1.165). PayPal fees are, say, 3.5% (a factor of 1.035). Shipping is, say, 10 pounds.</p><p><br /></p><p>So, any accepted bid in pounds will cost me</p><p><br /></p><p>$1.29 (dollars/pound)x1.165x1.035 + shipping = [get your calculator] $1.56/pound + shipping.</p><p><br /></p><p>Leave aside shipping for a moment. You figure out what it costs in dollars by multiplication (by 1.56). You can figure out what to bid by division (by 1.56). If you are willing to pay, say, $300, you can bid</p><p>$300/($1.56/pound))= 192 pounds. Round up or down as suits you and remember the shipping cost.</p><p><br /></p><p>It always seem to cost a bit more, maybe currency exchange fees, or shipping is more.</p><p><br /></p><p>Someone mentioned old guys selling off their collections at good prices. They are great sources. Follow those sellers. Nevertheless, as soon as you start buying expensive coins, consider auctions of major firms.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in