Question about Baltimore B&M auction lot viewing

kranky

I'm thinking about going a day earlier to the Baltimore show to view some of the lots. It's extremely doubtful that I'd be bidding on anything, but I don't have the chance to check out coins of that caliber otherwise. (Hey, I like looking at coins!) But I've never been at a lot viewing before.

But I assume doing this without already having an auction catalog is pointless, since I won't have any idea which coin is which lot without it? Considering I won't be bidding on anything, I don't want to be a pain. B&M wants $40 for the catalog and while I can convince myself that an extra hotel day would be worth it, buying a $40 catalog just to be able to specify "I'd like to see lot #457" doesn't seem to be worth it.

If having the catalog is essential to attending the viewing, and someone has a catalog they don't need, I'd be glad to pay shipping.

kieferscoins

They have extra catalogues at the lot viewing for anyone viewing coins. They are usually free, because if you took the time to view their coins, register, and show up to the auction there is a good chance most people will bid on a coin. They won't loose a bidder over a $40 auction catalogue. Show up to lot viewing, and there should be free ones there.

Cameron Kiefer

kranky

Thanks, Cameron. I'll hope that they have a free one I can pick up.

Do you think it will be as entertaining as the YN auction catalog?

kieferscoins

<< <i>Do you think it will be as entertaining as the YN auction catalog? >>



Nope. A little (okay, alot) more dry, but with great photographs.

Cameron Kiefer

au58

About a year ago, I was at a show where Stack's was holding the auction. I flipped through their catalog and asked to view 7 or 8 lots. I estimate that if I won them all, the total would be less than $5,000. Stack's asked me for a 10% deposit JUST TO VIEW THE LOTS. I had just spent close to $8,000 at the show, so I didn't have a lot of cash. Since I hadn't seen the coins, and the session wasn't until the evening, I had not even decided if I was going to stick around. I wasn't going to put a $500 deposit on a credit card and then wait until some number of days after the auction to get a credit, so I left. Do other auction houses do this?

P.S. I was asked by the rep from Stack's if I had ever done business with them before. I told him that I had bought more than $100,000 worth of stuff from Stack's in the 70's and 80's. He didn't seem impressed and since I wasn't on their current customer list, I was SOL.

One more thing. Stack's does have some nice stuff. But if someone walked in off the street and spent more than $10,000, wouldn't you ask his name? I did just that, a couple of times, and no, they didn't.

kranky

Oh, oh. Paying a deposit just to VIEW them? I'm not sure I like that idea.

Does anyone know if B&M is going to do that, or is that just a Stack's thing?

boiler78

No! Stacks is in a class all by themself. Bowers will give you a catalog at lot viewing and they won't require a deposit just to look at lots. If you have a serious interest and intend to bid on anything you may have to provide credit references (at least that was my experience when I first started doing business with them)

EVillageProwler

Stack's is my least liked coin firm. I find them so bad that I really don't wish to comment further about this publicly. My advice: don't trust them.

And, don't lump the other firms in with Stack's. No firm is perfect, but Stack's is pretty much in a class by itself.

EVP

gemtone65

It is not unusual for an auction company to request a 10% downpayment on bids submitted, for bidders that haven't established a credit line. But, I have never heard of such a thing simply to view the lots. After all, how do you know which lots you will bid on and how much to bid until after you view the lots?

I have a hard time believing this lot viweing downpayment is standard Stack's policy. Perhaps the representative didn't think AU 58 was likely to be a serious bidder, and they were busy with other customers so this was simply a means to determine if the party was likely to bid or just wanted to spend time viewing auction lots.

On the B&M question, you can view the lots on their internet site and decide which ones you want to see in person without a hard copy of the catalogue. And, assuming you look reasonably convincing as a potential bidder, B&M or most other companies will give you the auction catalogue free at the viewing site.

kranky

<< <i>Perhaps the representative didn't think AU 58 was likely to be a serious bidder, and they were busy with other customers so this was simply a means to determine if the party was likely to bid or just wanted to spend time viewing auction lots. >>



I guess that would describe me.

I like to be respectful of other peoples' time so it's a bit of a dilemma for me. I only want to look and I wouldn't want to cause problems for those who are there and intend to bid, nor do I want to cause problems for the staff working at the viewing. I had hoped that if I go and there a place to sit and the staff isn't being run ragged, I'd ask to see a few coins. If the place is jammed, I'll just leave.

I wouldn't feel good about myself if I interfered with other customers while having no intention to bid. I'd like to go through the experience without pressure to bid on something in case I decide to become more serious about auctions later on.

But I suppose there's a chance that I might fall in love with something and end up bidding!

au58

Just for the record:
This was at the ANA show in March in Jacksonville, so it was seven months ago, not a year ago as I indicated before.
The staff from Stack's was not busy. Attendance at the show was very light. I had my choice of seats at the viewing table. And no, I would not categorize my self as a very interested bidder, but there were two or three items high on my list that may have enticed me to stick around. I could have easily provided other credit references, I had left almost $5,000 in checks on the bourse floor with three or four dealers. Or, in the event I did decide to bid, the deposit would not have been an issue.

I hadn't bought at an auction in a few years. With the buyer's premium, it is difficult to acquire stuff for resale that can be turned over inside of a couple of weeks. I had never heard of this practice before and didn't know if was the new industry standard, just Stack's, or just me.

Kranky - You have the right perspective. We should all be respectful of others' time. But even though these auctions can seem a bit "stuffy", go for it. How can you possibly know if you're going to bid (or not) if you haven't seen the coins??!! The B&M staff should know that there is a first time for everyone.

DesertLizard

Typical arrogance of Stack's.

I suggest you take your business elsewhere.

I am always tickled when some clueless gatekeeper is condescending with a potential bidder. Here are people buying "useless", "frivolous", "trinkets" worth hundreds if not thousands of dollars. And the staff at these auction houses treat them with contempt. Many buyers who are collectors and not dealers probably spend more on coins in a year or two than the gatekeepers make in 5 years.

I think it boils down to envy and jealously for many. You know....."how can this dishevled unshaven old man buy a $15,000 coin". With those attitudes that's why they are schelping coins from show t oshow versus buying them!!

au58

You're right, I didn't shave that day. But I'm not THAT old.