Auction choices

CoinZip

Which auction do you think you would be more likely to get a better price on something? Same item in both auctions, lets say a 1921 Morgan Dollar graded MS63 by PCGS, same auction terms, bp, shipping......

1. An auction that has a lot of items and a lot of bidders (over 100k items and over 100k bidders)

or

2. An auction that has fewer items and fewer bidders (less than 1k items and less than 1k bidders)

Boosibri

Is there such a thing as an auction with over 100k items and 100k bidders?

mercurydimeguy

Your premise is a logical fallacy.

In any given day you can experience good or bad results from either venue.

Your idea that many bidders + many items = better results, or fewer bidders + lesser items = better results, will never be statistically proven as some will have better results from one and others from another.

And even if you are to get good results from one venue it does not guarantee you will get good results again, it's an independent event each time so there is no correlation.

It's like saying if you have a brand new gym and a packed home crowd, and you win the basketball game, that must mean that every time you play basketball in a brand new gym with a packed home crowd you will win the game? Not.

So...even if you get opinions one way or another, there is no statistical correlation.

Staircoins

Buyers may prefer less competition (and thus a smaller auction), but...
Sellers definitely want MORE bidders (and thus a larger auction).

Have to please both to be successful.

DollarAfterDollar

As a seller I'd place my coins in the auction that has the most money in the room. I've attended auctions with great attendance but no bidders.

ricko

It really makes little difference - much depends on the offerings, the economy, the location etc.. Cheers, RickO

roadrunner

<< <i>Is there such a thing as an auction with over 100k items and 100k bidders? >>



Not to my knowledge. Any auction that large (assuming it exists) would essentially bury most people's coins to the unread back pages. Even the largest Heritage auctions are <10,000 lots.
I think an auction house might go broke if they tried to run 100k items per sale.

MGLICKER

I am assuming that the 100k refers to Ebay.

No difference on a very common and inexpensive coin.

BillJones

First, your most likely chance of selling a 1921 Morgan Dollar in PCGS MS-63 would be a small auction. None of the larger auction houses would accept that small (Gray Sheet bid $46) as a single item. If it were to be accepted it would have to a small part of much larger consignment. it would be sold in an Internet only auction held on either a weekly basis or at the back of a live auction catalog with Internet only lots.

The best chance for selling something like this would be in an active coin club auction. Sometimes a lot will "catch fire" and bring more money that you might imagine.

TopographicOceans

People are greedy.
So the larger the audience, the chances are greater that someone will pay more so the other guy doesn't get a good deal.

MGLICKER

<< <i>People are greedy.
So the larger the audience, the chances are greater that someone will pay more so the other guy doesn't get a good deal. >>



Disagree. Some of my best scores have come from the Heritage F.U.N sale. It used to be overloaded and a lot of good stuff fell though the cracks.