FUN Stack's Bowers Bullion auction - NO BP

jmlanzaf

There's no Buyer's Premium and you bid the % of gold value you want to pay. Very interesting idea. I wonder how it will go.

ricko

Let's see if I understand... for example, a one ounce bullion gold coin.... opening price at melt, and I would bid 110%? Cheers, RickO

Hemispherical

Where?

We’re being hypothetical?

jmlanzaf

@ricko said:
Let's see if I understand... for example, a one ounce bullion gold coin.... opening price at melt, and I would bid 110%? Cheers, RickO

If you want to pay 110% of melt, sure!

jmlanzaf

@Hemispherical said:
Where?

We’re being hypothetical?

No, it's next week.

Hemispherical

@jmlanzaf said:

@Hemispherical said:
Where?

We’re being hypothetical?

No, it's next week.

Interesting...

ricko

@jmlanzaf .... Thanks.... and no, I would not want to pay that... just a hypothetical to understand the situation. Cheers, RickO

jmlanzaf

@Hemispherical said:

@jmlanzaf said:

@Hemispherical said:
Where?

We’re being hypothetical?

No, it's next week.

Interesting...

I thought so.

winesteven

Opening bids are around 98% of spot, and bidding increments are 0.1% of spot. I recall there are only around 34 or so lots, bidding is now open, and ends in about a week. Spot price is set around the time the first lot goes on the block.

Zoins

This is an interesting and useful idea. It can be hard to quickly calculate actual gold value for coins of various weights.

JimTyler

This auction blows. Tried to place a bid you have to spend 25,000 to participate. It will take like 3 bidders to buy everything ( just guessing not that many lots)

Edit : took another look you have to have a default spending limit of at least $25,000. Not sure that makes much of a difference for most of us. I believe mine is $15,000 not going to beg for an increase.