How closely do the auction firms regulate the # of coins in an auction, in order for the market to a

Longacre

Everyone is talking of a Coin Recession. I am not sure we are in one, but it seems that collectors are getting a little shaky, and may be willing to sell their coins sooner rather than later.

Sometimes the best way to sell coins is through the auction process. Let’s suppose that a very, very large amount of collectors are looking to sell their coins (in addition to a very large amount of dealers looking to sell), and the auction firm gets flooded with consignments.

At what point does the auction firm determine that the auction they are holding is filled to the gills, and no more coins should be put into the auction? How closely does the auction firm monitor the market, and determine the amount of coins that the market can absorb at one time? Do the auction firms have an obligation solely to the consignor (to get the coins sold), or do they take into account the market as a whole, and do not want to put so many coins up for sale that prices will crash? What do you think?

ebaytrader

I'd like to see The Evil Empire regulate the number of coins in their auctions just to reduce the weight of their catalogs.

dimples

I don't know, the way Heritage keeps calling me monthly to sell my collections there seems to not be enough coins to sell right now.

Bayard1908

Bowers and Merena recently had an auction that included about a dozen 1886 Three Cent Nickels, one of my favorite coins. I figured that I would get at least 2 or 3 of them, due to the market being flooded. I was outbid on every one of them by people paying prices as if the coins were a grade point higher.

firstmint

All auction companies have consignment deadlines to cut off items being presented in a certain venue.

If a consignment comes in later, it goes into the next sale, unless it is specified differently by the consignor.

Placid

Never heard of a auction company refusing to accept coins for a specific auction for the reason that they had too many coins already.

jfoot13

No soup for you.... we made enough money on this auction

mozin

A few weeks ago Heritage, in two consecutive internet auctions, offered a total of 41 1817 O-105 Bust Half Dollars. This marriage is considered R4, meaning at most 200 thought to exist today in all grades. It certainly does not appear that Heritage regulates the number of similar coins in their auctions. Some old time collector must have decided to part with his hoard. The vast majority were details coins. There were lots of bargains!

Elcontador

They get what they can to meet their consignment deadlines, and key toward major shows. I remember one Platinum Night where they had SEVENTEEN different 1916 SLQs up for auction.

Frankcoins

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At what point does the auction firm determine that the auction they are holding is filled to the gills, and no more coins should be put into the auction? How closely does the auction firm monitor the market, and determine the amount of coins that the market can absorb at one time? Do the auction firms have an obligation solely to the consignor (to get the coins sold), or do they take into account the market as a whole, and do not want to put so many coins up for sale that prices will crash? What do you think? >>



We have had too many items submitted for my live auctions on a few occassions. They get bumped to the next auction. We once had 3 1909-S-VDB cents in one auction of about 150 lots. We had to hire an extra security guard to manage the parking, and all three got high prices.