@numisma said:
If you netted $2,100 on that 1927 twenty in PCGS MS65, then you did well. The major market makers for pre-33 generic gold are currently paying right around $2,200 for the P/N 65 Saints. If you came to our office to sell the same coin, we would have offered around $2,100 because we would want to make $100 to handle the transaction.
This is why one can frequently do better selling directly to a collector on the BST.
I wonder.
First of all, you can sell directly to the market maker (including SB) for close to $2200. If a BST buyer had bought it from GC, it would have cost $2390. That leaves a $200 gap. So, if the BST buyer wants to pay $2300 (IF!!!), then there's $100 to be made for which the seller takes on all the risk while giving up any chance of the coin being bid up during the auction.
Personally, I would have sold to the market maker at $2170 and stayed away from BST and the auction house.
The BST is FREE!!! If the BST doesn't work, you can always take the low-ball offer from some dealer.
To be fair, often, the so-called "low-ball" offer from the dealer isn't really low-ball and at the same time, better than what's offered on the BST.
Please don't forget that dealers are always evil and collectors are generous angels.
[Even though half of the BST shoppers are at least part time resellers.]
I can understand why dealers don't like collectors selling to other collectors. It cuts out the middleman which is bad for business.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@numisma said:
If you netted $2,100 on that 1927 twenty in PCGS MS65, then you did well. The major market makers for pre-33 generic gold are currently paying right around $2,200 for the P/N 65 Saints. If you came to our office to sell the same coin, we would have offered around $2,100 because we would want to make $100 to handle the transaction.
This is why one can frequently do better selling directly to a collector on the BST.
I wonder.
First of all, you can sell directly to the market maker (including SB) for close to $2200. If a BST buyer had bought it from GC, it would have cost $2390. That leaves a $200 gap. So, if the BST buyer wants to pay $2300 (IF!!!), then there's $100 to be made for which the seller takes on all the risk while giving up any chance of the coin being bid up during the auction.
Personally, I would have sold to the market maker at $2170 and stayed away from BST and the auction house.
The BST is FREE!!! If the BST doesn't work, you can always take the low-ball offer from some dealer.
To be fair, often, the so-called "low-ball" offer from the dealer isn't really low-ball and at the same time, better than what's offered on the BST.
Please don't forget that dealers are always evil and collectors are generous angels.
[Even though half of the BST shoppers are at least part time resellers.]
I can understand why dealers don't like collectors selling to other collectors. It cuts out the middleman which is bad for business.
Agreed, it does cut out the middleman, which is bad for business. But that doesn't negate the fact that often, dealers offer more for coins than BST participants. I've seen plenty of both happy sellers and unhappy would-be sellers here. The same goes for most other venues, as well.
Now, I'll excuse myself from this discussion, so you or anyone else can talk about "low-ball" offers, without me.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@numisma said:
If you netted $2,100 on that 1927 twenty in PCGS MS65, then you did well. The major market makers for pre-33 generic gold are currently paying right around $2,200 for the P/N 65 Saints. If you came to our office to sell the same coin, we would have offered around $2,100 because we would want to make $100 to handle the transaction.
This is why one can frequently do better selling directly to a collector on the BST.
I wonder.
First of all, you can sell directly to the market maker (including SB) for close to $2200. If a BST buyer had bought it from GC, it would have cost $2390. That leaves a $200 gap. So, if the BST buyer wants to pay $2300 (IF!!!), then there's $100 to be made for which the seller takes on all the risk while giving up any chance of the coin being bid up during the auction.
Personally, I would have sold to the market maker at $2170 and stayed away from BST and the auction house.
The BST is FREE!!! If the BST doesn't work, you can always take the low-ball offer from some dealer.
To be fair, often, the so-called "low-ball" offer from the dealer isn't really low-ball and at the same time, better than what's offered on the BST.
Please don't forget that dealers are always evil and collectors are generous angels.
[Even though half of the BST shoppers are at least part time resellers.]
I can understand why dealers don't like collectors selling to other collectors. It cuts out the middleman which is bad for business.
For something like that St., I'd rather collectors sell to collectors. I really don't want to shell out $2100+ to make $50.
For other items, dealers provide access to markets that a collector might not.
BST is not exactly a lot of eyeballs. It is not even the most robust collector-to- collector venue.
Comments
I can understand why dealers don't like collectors selling to other collectors. It cuts out the middleman which is bad for business.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Agreed, it does cut out the middleman, which is bad for business. But that doesn't negate the fact that often, dealers offer more for coins than BST participants. I've seen plenty of both happy sellers and unhappy would-be sellers here. The same goes for most other venues, as well.
Now, I'll excuse myself from this discussion, so you or anyone else can talk about "low-ball" offers, without me.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
For something like that St., I'd rather collectors sell to collectors. I really don't want to shell out $2100+ to make $50.
For other items, dealers provide access to markets that a collector might not.
BST is not exactly a lot of eyeballs. It is not even the most robust collector-to- collector venue.