Superior Galleries Buyers premium

ARCO

Is Superior Galleries Buyer's premium 15% or 20%? I can't find it listed on their web site.

Thanks,
Tyler

remumc

I think it is 15% if you bid from their website, 20% if you bid on Ebay. You had probably better wait on some more opinions though and not rely on my "thinkin"

Regards,

Wayne

Myriads

This should do the job:


12.     A Buyer's Commission of fifteen percent (15%) on each individual lot will be added to all purchases made by non-internet Bidders, except for reacquisitions by Consignors, regardless of affiliation with any group or organization, and will be based upon the total amount of the final bid. A reacquisition charge may apply to Consignors pursuant to a separate agreement, which may be higher or lower than the Buyer's Commission. A Buyer's Commission of twenty percent (20%) will be added to all successful bids made via Ebay (www.ebay.com) and/or EbayLiveAuctions (www.ebayliveauctions.com). Internet bids made through Superior's website (www.sgbh.com) will be charged a fifteen percent (15%) Buyer's Commission.

you can find it here on the site.

Myriads

ARCO

Thank you, that is it.

clw54

You really have to want a coin to bid on one of their auctions.

remumc

clw54,

How is it any different than a Heritage auction? Same 15% buyer's premium if bidding on the web, same 20% buyer's premium if bidding on Ebay. I just figure the buyer's premium into what I want to pay and bid accordingly, that is of course, if they have a coin I really want!

Regards,

Wayne

Myriads

While I have never bid at Superior, I have won two coins in the past few weeks at Heritage, which charges the same 15% for handling the transaction.

When I first thought about bidding on a Heritage coin I had thoughts similar to yours, "Wow! 15% that sucks! What a bite in the hinder!" Up to that point my auction experience had been limited to eBay, America's biggest garage sale.

I quickly noted that buyers take the 15% into consideration when bidding. If the coin is worth about $230 it's rare to see bids over $200. People just calculate that extra 15 into their total bid, as part of the final sum they are willing to spend on the coin.

I also quickly learned that bidding patterns at Heritage were a bit different then eBay. I've found very little evidence of sniping at Heritage. People seem to bid thier maxes and then see what happens. I think many rightly assume that they made a good bid, and if they loose, another coin will come along, and no reason to overpay to have THAT coin. I'm not sure why this is true there, but I'm betting that the bidders are far more educated about coins in general, and there are more 'pro' dealers bidding also. It sounds elitist, but the Heritage auctions seem more 'civilized'.

People DO bargen hunt when auctions get close to thier ends, and take shots at good coins that seem to be going for cheep. I had both the auctions that I won jump by a good percent in thier last hours. But it made sense, the prices I was winning at were fantastic bargens. A smart dealer/collector could make a good deal on a quick flip if they got the coins for a touch more then they were at then. So they try. But if you have a fair max bid out there, it seems to hold up. Mine did.

I also don't mind the 15% for another reason. On Heritage and Superior I get a super view of what I'm going to bid on. I can look, look closer, and even get so close that it's too close! I don't have to guess about damage and grade. I can see it myself. No nasty surprises. I have access to thousands of images and past bids to make useful comparisons with, so I can make a smart bid based on real data. That's worth a bit to me, and I know my 15% helps pay for it. I see it as the 'coin tax' that gives me access to such a nice selection of material on a regular basis. And I only have to pay if I win :-)

On a personal note, I had a weird feeling after I won my first Heritage auction. It somehow made me feel like a 'more real' collector. Now I know that is silly, and not true at all. I've been a real collector for years. It's not about how one gets the coins, but the enjoyment and learning that surrounds them. The odd feeling goes back to me being a ten year old, reading the Red book, and dreaming of proof coins I knew I'd never never ever be able to own ("Own a Proof Liberty Nickel? They only made 5000 a year at most, no way to get those, they are rare!!") and Coinage Magazine, and hearing about auctions, where I imagined men in nice suits holding up paddles, and spending huge amounts to get those Proof coins (After all, I never saw Proofs at shows then, so they HAD to all trade at those mysterious auctions) To my ten year old mind those guys were the 'real collectors'. Here we are 25 years later, and I own about 20 of those 'rare proof' Nickels (Which still amazes me, given that I collect on a pretty tight budget), and I had suddenly realized that I had just won one more in a 'real auction' (Though I did it from my home, while wearing sweats not a nice suit, and didn't spend a fortune either) and that Ten year old who is still in me, went 'Wow!'.... Always nice to realize a childhood dream. :-)

Pardon the digression. Just wanted to share some feelings that have been bopping about in my head.

Myriads