@skier07 said:
We all know that auction houses can bid on coins they are auctioning but we would like to think they are not competing against us when we are bidding. How often does this happen? I have no idea and unless you work for an auction house or are well connected you don’t know for sure either. This is another one of those “secret” topics that nobody who knows has any desire to discuss. All we can do is speculate.
I just hope that Heritage is kind to me tomorrow, going after 22 silver and gold items in the 12 Caesars event.
@wondercoin said:
Heritage has the right to bid on my consignment coins to them.
Stacks had the right to bid on my consignment coins to them (not consigning at the moment)
GC has the right to bid on my consignment coins to them, whether it’s written in their terms and conditions (which I hope it is) or not.
The concept that one wishes the auction company doesn’t win their material because the auction company has an advantage over others (or for anny other reason) is entirely misguided. I don’t care if the auction companies outbid every other participant in the world and win every single consigned coin of mine that I consign.
Now, tell me why I am wrong to think this way?
As always, just my 2 cents.
Wondercoin
You are 100% wrong. A auction house is an auction house it is a conflict of interest for both the buyer and seller for them to buy at their own auction. period. I suspect in some states it is illegal. ( not positive but it should be)
Martin
As a member of the Texas bar, I only know Texas law, but the TAC title 16, part 4, ch 67, rule 67.70, among many other things requires;
"Before beginning an auction, a licensee must ensure the announcement of, give notice, display notice or disclose:
(B) the terms and conditions of the sale including whether a buyer's premium will be assessed; and
(C) if the owner, consignor, or agent thereof has reserved the right to bid."
Moreover, "(3) A licensee may not knowingly use or permit the use of false bidders at any auction."
So I have no concern at all bidding with Heritage.
@PerryHall said:
I don't get it. Can someone explain to me how a CMQ sticker hurts the value of a coin consigned to GC? If the buyer doesn't like it, he can always peel it off. Right?
If I saw an OGH with a CMQ sticker, I might wonder to myself if the CMQ sticker means that the coin did not make it at CAC. That is how the CMQ sticker could potentially hurt the value of the coin. CAC >> CMQ
My thought is that for coins above a certain price, that people already assume that coins without CAC failed CAC at this point, so CMQ would be better than simply no CAC.
With what a lot of them spend on the sticker game they could buy a nice slabbed bullion coin.
As far as some bs that a non sticker coin above a certain price did not make sticker maybe so but in reality there is not enough money in coin land for all of them been to him. Plus the sticker coin priced higher in many instances ramped up into stratosphere. Not much of a payer there. The CDN recognizes a premium for CAC but not for CMQ. Neither do a lot of players in the biz.
However if the coin is not up to par with me the sticker thing means nothing.
Comments
What's the status now?
Going forward, what stickers are approved vs. not?
I just hope that Heritage is kind to me tomorrow, going after 22 silver and gold items in the 12 Caesars event.
As a member of the Texas bar, I only know Texas law, but the TAC title 16, part 4, ch 67, rule 67.70, among many other things requires;
"Before beginning an auction, a licensee must ensure the announcement of, give notice, display notice or disclose:
(B) the terms and conditions of the sale including whether a buyer's premium will be assessed; and
(C) if the owner, consignor, or agent thereof has reserved the right to bid."
Moreover, "(3) A licensee may not knowingly use or permit the use of false bidders at any auction."
So I have no concern at all bidding with Heritage.
My thought is that for coins above a certain price, that people already assume that coins without CAC failed CAC at this point, so CMQ would be better than simply no CAC.
Yes Can see if just CMQ sticker why no CAC?
With what a lot of them spend on the sticker game they could buy a nice slabbed bullion coin.
As far as some bs that a non sticker coin above a certain price did not make sticker maybe so but in reality there is not enough money in coin land for all of them been to him. Plus the sticker coin priced higher in many instances ramped up into stratosphere. Not much of a payer there. The CDN recognizes a premium for CAC but not for CMQ. Neither do a lot of players in the biz.
However if the coin is not up to par with me the sticker thing means nothing.