Auction Experience

northcoin

Is it your experience that buying coins at auction (I'm referring to the ones which publish photo catalogues) results in sales at wholesale prices or retail prices? On the one hand I hear that many dealers buy their coins for resale at auction (which would suggest the prices realized are generally wholesale or greysheet), yet on the other hand some of the reserves seem to be set way over grey sheet so that one feels one is wasting one's time even submitting bids at even at retail Redbook prices.

Russ

From what I've seen in the short time I've been observing, the truly premium and monster coins are realizing prices above sheet, and the dealers buying them are having no trouble flipping them at a profit.

Russ, NCNE