@Boosibri said:
I still can’t understand why people are fixated on the buyers premium as a buyer. You can’t afford coins because of the buyers premium, really? Bidders bid a net number!
I hear this frequently, and do it myself, but then I also hear from a lot of people that bidding 20% back of retail means they never win a coin.
I win coins and I rarely bid more than 25% back of wholesale, including bullion. I recently bought a 1 oz gold Louis Armstrong medal at HERITAGE for $1875 including BP and shipping.
On the other hand, you won't buy many premium coins at "retail " even if you bid full retail with zero premium. [Assuming "retail" means some reasonable price guide number. ]
Dealers pay the same premiums as everyone else. Dealers buy a significant percentage of auction coins. They aren't dissuaded by the 20% BP. But they also don't whine and blame the BP if they lose a coin.
@Boosibri said:
I still can’t understand why people are fixated on the buyers premium as a buyer. You can’t afford coins because of the buyers premium, really? Bidders bid a net number!
I hear this frequently, and do it myself, but then I also hear from a lot of people that bidding 20% back of retail means they never win a coin.
Whether an auction price is wholesale or retail, and the buyers premium are two completely different things.
Coins at auction can go for retail or wholesale depending on the bidding. In either event, the 20% buyers premium is paid.
@Boosibri said:
I still can’t understand why people are fixated on the buyers premium as a buyer. You can’t afford coins because of the buyers premium, really? Bidders bid a net number!
I hear this frequently, and do it myself, but then I also hear from a lot of people that bidding 20% back of retail means they never win a coin.
Whether an auction price is wholesale or retail, and the buyers premium are two completely different things.
Coins at auction can go for retail or wholesale depending on the bidding. In either event, the 20% buyers premium is paid.
Additionally, over the past 20 years or so, and particularly in the case of auctions (where both collectors and dealers participate) the distinction between “wholesale” and “retail” has been blurred, considerably.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Comments
I win coins and I rarely bid more than 25% back of wholesale, including bullion. I recently bought a 1 oz gold Louis Armstrong medal at HERITAGE for $1875 including BP and shipping.
On the other hand, you won't buy many premium coins at "retail " even if you bid full retail with zero premium. [Assuming "retail" means some reasonable price guide number. ]
Dealers pay the same premiums as everyone else. Dealers buy a significant percentage of auction coins. They aren't dissuaded by the 20% BP. But they also don't whine and blame the BP if they lose a coin.
Edited by @MFeld
Whether an auction price is wholesale or retail, and the buyers premium are two completely different things.
Coins at auction can go for retail or wholesale depending on the bidding. In either event, the 20% buyers premium is paid.
Latin American Collection
Additionally, over the past 20 years or so, and particularly in the case of auctions (where both collectors and dealers participate) the distinction between “wholesale” and “retail” has been blurred, considerably.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.