National Shows and Auctions
Inspired70
Posts: 541 ✭✭✭✭✭
I realize this is likely a controversial topic, but as one collectors opinion, I am not a fan of separating the feature show like ANA and then having the auction separate and a week later. Also, having the lot viewing blocks away from the convention center and show makes no sense.
As one collector, I attend fewer shows since large auction companies have separated the show from the auction. Curious to hear what others think on this topic.
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I think it may be the fact that a lot dealers end up buying auction coins or at least bid on many, and they dont want the auctions to interfere with the normal business being conducted at the show by the dealers taking the time away for them to sit in room or worry about getting bids in or just show business in general. I used to help out a national dealer years ago, and he would either himself or send me to bid on lots while the show was going on full swing. With advancement of tech better and better, many folks just bid on line anyway, so if they can look at lots briefly before or after bourse times, as well as collectors that attend stop in to view while they are in the area, they can bid when they get back home. I remember one year ana was in charlotte. I went to the show on thursday, and shopped the bourse, then came back home fri and bid in the sale that night at home already knowing what the coin looked like in person, didnt have to stay around just for the auction.
I might add , also I been to several show's where dealers had to hurry up get out of the bourse and head over to the auction to get a good seat. Now, after bourse closing, they can relax, go to dinner, mingle with other dealers, and catch up for the next days show business.
I might add after reading todds reply < my statement was more about the timing, not the location several blocks away, i have to agree with both the posters, if they are going to do this, then it needs to be in the same building or adjacent to the show, no question.
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While I am okay with having Auctions the following week so everyone get's the chance to view in hand and consider where they are, what is the point of having everyone walk a 2/3 mile round trip (or so) with their gear and possibly some treasures, and books and note pads and all, to view lots, especially when both of the Auction houses had Conference Rooms in the Convention Center?
The weather was fabulous, but last year it was stormy, and we only missed a storm by a day this time from what I am told. Could have much worse.
Controversial or not, if Heritage and Stack's are reading, this was an absolute dis-service to all IMO.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
@jdimmick I take your point. I only wonder who are we are attempting to convenience, the collector or the dealer? If the dealer, then you are correct. If the collector and building the hobby, then I wonder whether we are doing any service to them. As one collector, I have begun skipping many shows that I use to attend since the auction has been separated from the show. Perhaps others see it differently than I do.
Who is "we"? Any business, including auction companies, cater to their biggest customers.
This us vs them mentality with respect to "dealers " and "collectors" is both inaccurate and a disservice to the hobby. There are no "collectors" without "dealers" and vice versa.
Personally, I hope that everyone who doesn't like auctions after shows boycotts them. More coins for me
This. Boycott away and gimmie.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Like many things, this is a result of the pandemic. The auction houses found out that they didn’t need to hold the auction at the show, and they still got good results. Not having the auction at the show saves them money in various ways. Hence no more live auctions at the shows.
It's also cheaper to rent the ballroom and several adjacent rooms for security & c for lot viewing at a nearby hotel than pay the prices for the rooms at the convention center.
ANA 50 year/Life Member (now "Emeritus")
If one is able to lot view I am not sure how one is affected as to when the lots are auctioned? It makes total sense to have the auction after the show so that dealers and collectors all have the same opportunity to bid (and maybe win). I am a collector and I am fine with the concept. It is a win win for all involved. Collectors are also impacted when auctions are at a show - many of these are run during bourse hours, it is possible for dealers not to be at their tables and secondary employees are at the table instead or just having to close up during the auction. In such cases, that can impact a collector buying at the table if they can't talk to the head for price, etc. So again, this move to auctions after the show instead of at, is a good move for all including giving the collector more opporunities.
Best, SH
When I went to shows in the past, I rarely attended the auction. Sometimes I would bid remotely from my hotel room.
If there was any great advantage to being in the room for an auction, that is now gone unless you want to fly to Heritage or Stacks the week after ANA.
I think Bill Jones stated it correctly - auction houses determined they could hold auctions on their home turf and not lose bids.
"Look up, old boy, and see what you get." -William Bonney.
I agree wholeheartedly about the timing of the auction being irrelevant as long as one has the opportunity to view the lots in hand.
Having to travel up the road to view the lots is TOTALLY UNACCEPTABLE! I don’t know if the blame is on the auction companies the ANA or a combination of both. I would love to see an explanation from someone directly involved.
It was a real pain planning to get to the lot viewing taking away precious floor time.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
There are security issues with coin convention attendees coming in an out of the venue. Going in ONCE and coming out ONCE is to the advantage of the those who are buying and selling items. When you leave a show, you can never be sure about who is is trailing you. This not paranoia; it's good sense.
Steve Roach touched on this in his talk. Basically the auction houses are still making the same, if not more, off the auction and it costs the auction houses a lot less as they only have to fly out a few folks to support lot viewing. Also dealers are not losing the business they normally would have by abandoning their tables during bourse hours to attend the auction. This format is here to stay.
As for the viewing at the Loews it was like two short blocks from the convention center. Not that far away BUT if you wanted to shop the bourse floor and do lot viewing in the same day it was definitely inconvienant. Will be interesting where they hold lot viewing in 2024 when WFOM is back in Chicago.
Very very few people bid live at an auction anymore and everything is done remotely or on some super expensive coins bidding may be done via telephone. It really doesn’t make any sense in this day and age to have an auction at the same time the bourse is going. It’s bad for both collectors and dealers.
If I was at the ANA unless I was interested in something in the upcoming auction I would not walk 2/3 of a mile to lot view. I’d probably be exhausted from the show and security going to and from is a potential issue.