To be clear, they were all owned by the same parent company, but they will now be working as one unit. I don't think it will have much of an impact on the market.
This is total non news. They are all owned by the same company. What took them so long? Teletrade has gone downhill since Ian left. Now Irma Kane has left as well. Spectrum stock rarely trades and has been delisted to the pink sheets. They need to start earning profits at Spectrum and they can probably start by lowering their executive compensation which is simply egregious for a money losing corporation. AMark Precious Metals (also owned by Spectrum) should be rolling in profits with popularity of gold/silver coin sales. They barely make a 0.1% gross margin on sales which then gets eaten by executive bonuses.
Just got the notice myself. If they combine all their sales operations' online presences correctly, it'll be a nice competitor to Heritage. If they don't we'll get to wade through a hodgepodge of websites and databases that have been kludged together in what will be a rather unenjoyable experience.
I don't think it's "non-news". I read it as a 3-tiered sales service in one so you can send an entire collection in and it will get placed in a venue where it belongs. You can do that with SB now and they will wholesale out the junk, but they don't clearly state that anywhere. It would be fun to test it. I also think the 60% cash upfront is news. Doesn't change a lot, but it may make HA react. I think it would be more news if they announced lower commissions or tiered commission structures across platforms.
This is sort of non event. It's similar to when Macy's decided to change the name of all the regional departments stores they owned like Burdines and Bamberger's and decided to call them all Macy's.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
<< <i>This is sort of non event. It's similar to when Macy's decided to change the name of all the regional departments stores they owned like Burdines and Bamberger's and decided to call them all Macy's. >>
<< <i>This is total non news. They are all owned by the same company. What took them so long? Teletrade has gone downhill since Ian left. Now Irma Kane has left as well. Spectrum stock rarely trades and has been delisted to the pink sheets. They need to start earning profits at Spectrum and they can probably start by lowering their executive compensation which is simply egregious for a money losing corporation. AMark Precious Metals (also owned by Spectrum) should be rolling in profits with popularity of gold/silver coin sales. They barely make a 0.1% gross margin on sales which then gets eaten by executive bonuses. >>
If true, why aren't those with financial oversight of this consortium/syndicate or the stockholders demanding proper performance and accountability? >>
My guess is the guys who are getting the big bonuses and salaries also own a controlling interest in the stock.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
It's mostly irrelevant as it ultimately comes out of the seller's pocket. And most consignors already know to negotiate the impact of the buyer's fee downward (via a premium to hammer on their invoice). No buyer in their right mind goes to an auction with the intention of spending an extra 20% above and beyond what they feel current FMV is because of the buyer's fee.
<< <i>This is total non news. They are all owned by the same company. What took them so long? Teletrade has gone downhill since Ian left. Now Irma Kane has left as well. Spectrum stock rarely trades and has been delisted to the pink sheets. They need to start earning profits at Spectrum and they can probably start by lowering their executive compensation which is simply egregious for a money losing corporation. AMark Precious Metals (also owned by Spectrum) should be rolling in profits with popularity of gold/silver coin sales. They barely make a 0.1% gross margin on sales which then gets eaten by executive bonuses. >>
If true, why aren't those with financial oversight of this consortium/syndicate or the stockholders demanding proper performance and accountability? >>
My guess is the guys who are getting the big bonuses and salaries also own a controlling interest in the stock. >>
Considering that Spectrum Group only recently acquired the 50% of Stacks-Bowers that they did not already own, this "merger" was not possible until right about now.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
It's mostly irrelevant as it ultimately comes out of the seller's pocket. And most consignors already know to negotiate the impact of the buyer's fee downward (via a premium to hammer on their invoice). No buyer in their right mind goes to an auction with the intention of spending an extra 20% above and beyond what they feel current FMV is because of the buyer's fee. >>
I agree that it comes out of the seller's pocket. But it is not irrelevant. When a middle-man starts to take 20% of every transaction is is hugely RELEVANT. Whatever the auction houses are getting, whether it be 20% or something less (as negotiated by the seller) it affects everyone involved. The buyers and sellers are paying for it...someone has to.
It's mostly irrelevant as it ultimately comes out of the seller's pocket. And most consignors already know to negotiate the impact of the buyer's fee downward (via a premium to hammer on their invoice). No buyer in their right mind goes to an auction with the intention of spending an extra 20% above and beyond what they feel current FMV is because of the buyer's fee. >>
So true, The sellers take the hit anyhow,its really just a sleazy way to unnecessarily confuse people the way some of those places are set up. Any confusion , manipulation, or unnecessary twists and turns along the easy road of a transaction could ruin an experience for buyers or sellers and ironically that's what feeds the place in the first place.
Best thing I read in announcement, as a collector, was this:
Content and Research Our new website will also combine powerful search and filter tools to help you to find the exact coin or note in an auction or on SBGdirect quickly and easily. These same tools will allow you to search our auction archives of over 1.5 million sales records, with additional sales to be added regularly.
Stacks/Bowers really needed to catch up to Heritage in this area. Look forward to it.
You're having delusions of grandeur again. - Susan Ivanova Well, if you're gonna have delusions, may as well go for the really satisfying ones. - Marcus Cole
Good thing the coin I got from TT in Sundays auction, which was imaged so badly, you'd think they were two different coins. was returned already. They only refund on Tuesdays, so, unless everything changes before the 30th (they'll get it Mon or Tues), I won't have a problem. Hopefully, they'll be able to have a few GOOD coin photographers taking their coins images. I swear, the current imagers, some seem to not know what 'white balance' is (not that I'm any good, their images are WAY WAY better than mine), but, when I say this coin, in-hand, looked NOTHING like the image online. Yes, it IS very difficult to grade by an image, but boy, this was a real turkey.
Hopefully TT won't get the dregs of all their items for auction. But, if everything will be the same (fees, etc), and they are no longer Teletrade, then it matters not.
Comments
-Paul
So does this mean that the names Spectrum and Teletrade will cease to exist? Everything will be under the name Stacks Bowers Galleries?
<< <i>So does this mean that the names Spectrum and Teletrade will cease to exist? Everything will be under the name Stacks Bowers Galleries? >>
That's the way I read it.
-Paul
Not really looking for much these days but if I were, it might be a toner.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>It will also combine the past sales records of our predecessor firms and put over 1.5 million auction prices realized at their fingertips >>
<< <i>If Brian is the President of the combined entity, where does that leave Chris Napolitano? >>
This is a good question.
<< <i>This is sort of non event. It's similar to when Macy's decided to change the name of all the regional departments stores they owned like Burdines and Bamberger's and decided to call them all Macy's. >>
They destroyed Marshall Fields.
<< <i>
<< <i>This is total non news. They are all owned by the same company. What took them so long? Teletrade has gone downhill since Ian left. Now Irma Kane has left as well. Spectrum stock rarely trades and has been delisted to the pink sheets. They need to start earning profits at Spectrum and they can probably start by lowering their executive compensation which is simply egregious for a money losing corporation. AMark Precious Metals (also owned by Spectrum) should be rolling in profits with popularity of gold/silver coin sales. They barely make a 0.1% gross margin on sales which then gets eaten by executive bonuses. >>
If true, why aren't those with financial oversight of this consortium/syndicate or the stockholders demanding proper performance and accountability? >>
My guess is the guys who are getting the big bonuses and salaries also own a controlling interest in the stock.
<< <i>Buyers premium will probably go to 20% >>
It's mostly irrelevant as it ultimately comes out of the seller's pocket. And most consignors already know to negotiate the impact of the buyer's fee downward (via a premium to
hammer on their invoice). No buyer in their right mind goes to an auction with the intention of spending an extra 20% above and beyond what they feel current FMV is because of
the buyer's fee.
<< <i>
<< <i>
<< <i>This is total non news. They are all owned by the same company. What took them so long? Teletrade has gone downhill since Ian left. Now Irma Kane has left as well. Spectrum stock rarely trades and has been delisted to the pink sheets. They need to start earning profits at Spectrum and they can probably start by lowering their executive compensation which is simply egregious for a money losing corporation. AMark Precious Metals (also owned by Spectrum) should be rolling in profits with popularity of gold/silver coin sales. They barely make a 0.1% gross margin on sales which then gets eaten by executive bonuses. >>
If true, why aren't those with financial oversight of this consortium/syndicate or the stockholders demanding proper performance and accountability? >>
My guess is the guys who are getting the big bonuses and salaries also own a controlling interest in the stock. >>
I agree non news.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
``https://ebay.us/m/KxolR5
online, auction, and search experience for all the entities.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>
<< <i>Buyers premium will probably go to 20% >>
It's mostly irrelevant as it ultimately comes out of the seller's pocket. And most consignors already know to negotiate the impact of the buyer's fee downward (via a premium to
hammer on their invoice). No buyer in their right mind goes to an auction with the intention of spending an extra 20% above and beyond what they feel current FMV is because of
the buyer's fee. >>
I agree that it comes out of the seller's pocket. But it is not irrelevant. When a middle-man starts to take 20% of every transaction is is hugely RELEVANT. Whatever the auction houses are getting, whether it be 20% or something less (as negotiated by the seller) it affects everyone involved. The buyers and sellers are paying for it...someone has to.
jom
<< <i>
<< <i>Buyers premium will probably go to 20% >>
It's mostly irrelevant as it ultimately comes out of the seller's pocket. And most consignors already know to negotiate the impact of the buyer's fee downward (via a premium to
hammer on their invoice). No buyer in their right mind goes to an auction with the intention of spending an extra 20% above and beyond what they feel current FMV is because of
the buyer's fee. >>
So true,
The sellers take the hit anyhow,its really just a sleazy way to unnecessarily confuse people the way some of those places are set up. Any confusion , manipulation, or unnecessary twists and turns along the easy road of a transaction could ruin an experience for buyers or sellers and ironically that's what feeds the place in the first place.
RAD#306
Content and Research
Our new website will also combine powerful search and filter tools to help you to find the exact coin or note in an auction or on SBGdirect quickly and easily. These same tools will allow you to search our auction archives of over 1.5 million sales records, with additional sales to be added regularly.
Stacks/Bowers really needed to catch up to Heritage in this area. Look forward to it.
<< <i>
<< <i>If Brian is the President of the combined entity, where does that leave Chris Napolitano? >>
This is a good question. >>
+1
<< <i>Is there a "name the new firm" contest ? >>
Cosmo's Coin Renaisance ...
Bringing you the full Spectrum of quality numismatic items courtesy Messers Stack and Bowers at the speed of Teletrade.
Happy Rock Wrens
You're having delusions of grandeur again. - Susan Ivanova
Well, if you're gonna have delusions, may as well go for the really satisfying ones. - Marcus Cole
Hopefully TT won't get the dregs of all their items for auction. But, if everything will be the same (fees, etc), and they are no longer Teletrade, then it matters not.