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Selling at Auction vs. Dealer Buyout (with a little help from CMQ)

DisneyFanDisneyFan Posts: 1,541 ✭✭✭✭✭

Today is my 5th year PCGS Forum anniversary.  I have learned a lot from this board.  So, thank you everyone for sharing your knowledge!  

As a long time collector of collectibles I've been a strong believer of selling at auction.  However, early on, members of this board made me aware that selling to a coin dealer may actually be a better option.  But, no question, it's hard work.

Here is my latest experience.  Bear in mind I am NOT advocating that this is the only way to sell coins; but, a viable option.

I decided to give CMQ a try and submitted five PCGS MS64 silver coins bought before CAC was established.  This was on October 14th. There was nothing exceptional about these coins or their holders; but, they were nice coins. They were received by CMQ on October 24th.  On October 26th they received GRIFFINS!  Their Greysheet value was $3,395 and after a little negotiating, I accepted an offer of $3,525.  CMQ's check was mailed on November 7th.

CMQ then placed these coins in Stack's December 10th auction and they were hammered down for a total of $3,090!  With 20% commission, the buyers paid $3,708.  If I had put my coins in this auction, I most likely would have received my proceeds check around the end of the year.  

Outright coins sales can be a competitive option.

Comments

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,757 ✭✭✭✭✭

    Excellent move.

  • Project NumismaticsProject Numismatics Posts: 1,277 ✭✭✭✭✭

    Thanks for sharing your experience -
    super helpful! It’s always a challenge knowing where to maximize proceeds when selling.

  • winestevenwinesteven Posts: 3,985 ✭✭✭✭✭
    edited January 25, 2024 12:28AM

    Great results! In this case you successfully shifted the risk to Stacks.

    Congratulations on your fifth year on the forum! We’ve learned from you too!

    However, being it’s your fifth year Anniversary, I’m sure you know you now have to do a big giveaway (NOT like a roll of Lincoln’s you just got from the bank, lol).

    Steve

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996

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