I NEED INFO ABOUT AUCTION HOUSE SUBMISSIONS!

barney

Another boring barney question-sorry all.

I plan to meet with Ira Goldberg at Long Beach next Friday and submit two coins for auction. I don't know anything about the auction process-
except for - uh - eBay.

If anyone can inform me of what to expect, % off the top, submission fee, etc...please let me know.

Take care!
Barn

fivecents

Excellent question barney.

I have a PCGS ms64 1946 DDR walking half that I made for sale. I was also wandering the same thing. Is the auction house a good way to sell higher caliber coins?

Paul

truthteller

Howdie,

The Goldbergs are pretty anxious to take submissions. I have auctioned coins and bought from their auctions and have been very pleased. Expect two types of commision rates, one for dealers and one for public. Dealers get a better comission, usually 5% better and sometimes terms. If the lots combined value is less than $5000, expected a 5% buyback charge and a 5% sellers fee. If the lots are over $5000, usually they will charge only a 2% sellers fee. 45 days from the date of auction for payment. If you take a cash advance, they charge usually 12% per anum. They give cash advances on slabbed material only or if the coin is a rarity.

TRUTH

Russ

Bump for some good info.

Russ, NCNE

barney

Thanks for the info, guys.

The two coins I'm considering are the '86 (Philly) Super-toner PCGS 64 Morgan (Ira seemed particularly interested in this one) and
a NGC 45 1860-S $3.

TomB

It can also depend on how much they perceive that they need the lot in their sale. I have consigned coins valued at $1,000 or so and have never had a seller's fee added on. Of course, the auctioneer is still making good money on the buyer's premium, which is, in essence, a backend seller's fee.

michael

i think tomb hit the nail right on the head!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!




as long as you got the coins that they want to put in their auctions ............................................................................................................the coins dreams are made of



sincerely michael

michael

not a boring question in fact one of the better threads on here as of late

i have no doubt it has helped many !!!!!!!! yes yes

as auctions seem to be an up and coming thing for collectors selling coins to maximise their values!

sincerely michael

Barry

Why not try Ebay first? Put a reserve on it (don't use a reserve after March 1, the fee is going WAY up) and see if it sells. If not, then you can consign it for auction with nothing to lose.

I was pleasantly suprised a few weeks ago with the outcome of a key date seated dime, and the fee is only 1.5% above $1000.