Do dealers like auction representation business?
RYK
Posts: 35,800 ✭✭✭✭✭
To me, one of the biggest bargains in numismatics (second to books and old auction catalogs, of course) is having a dealer represent me in an auction:
1. The typical fee is 5%.
2. They screen the coins, with the eye of a professional, and end up dissuading me from buying bad coins. (The cynics will say that they buy them for themselves, but I know better).
3. The handle the transaction with the auction company, which can sometimes be a painful process, and ship the coin.
4. They know bidding strategy a heck of a lot better than I do.
Is this good business for the dealer? For the nicer coins, they often end up selling them 5% over cost to a represented client, rather than buying them for wantlists and inventory and selling them for 10-20% over cost.
1. The typical fee is 5%.
2. They screen the coins, with the eye of a professional, and end up dissuading me from buying bad coins. (The cynics will say that they buy them for themselves, but I know better).
3. The handle the transaction with the auction company, which can sometimes be a painful process, and ship the coin.
4. They know bidding strategy a heck of a lot better than I do.
Is this good business for the dealer? For the nicer coins, they often end up selling them 5% over cost to a represented client, rather than buying them for wantlists and inventory and selling them for 10-20% over cost.
0
Comments
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
I have never turned a commission down, as I believe that it is a valuable service and encourage all serious collectors to consider using a representative, me hopefully, but if not there are several very competent and experienced numismatists that are happy to do it.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore