KAGIN'S DEBUTS ONLINE ONLY AUCTION WITH LOW 7.5% BUYERS PREMIUM
Broadstruck
Posts: 30,497 ✭✭✭✭✭
Happy New Year Everyone! 
Figured I better post this separately as finally a auction house steps up to be the first to offer collectors a chance at more coin less fees.
Way To Go Kaigin's!
KAGIN'S DEBUTS ONLINE ONLY AUCTION WITH LOW 7.5% BUYERS PREMIUM
Kagin's Auctions is debuting their first standalone internet only auction sale on January 20th, 2018. Approximately two hundred lots including Colonial coins, U.S. copper, silver and gold type, commemoratives, California fractional gold, tokens, medals, modern and even a few foreign coins. The coins are valued from $50 to $1000.
As in all Kagins Auctions, there will be no reserves and for the first time in Kagin's Auctions history - every lot will start at $1. The sale will feature a special low buyers premium of just 7 1/2 %.
We have been inundated with many great collector coins which are perfect for this kind of auction,explained Kagin's Auction Director, Nina Ann Phan, an industry veteran of these kind of auctions.
While these coins may not be the kind of great rarities and more expensive lots you see in our main auctions, these coins are very affordable and great for so many collectors. We charge nothing to our consignors and believe our introductory rate of just 7.5% buyers premium is the lowest in the industry, she enthusiastically added. This fills a need in our numismatic community.
Each coin will be described and imaged online. Additionally all the coins will be available for viewing at the FUN show in Tampa from Friday 1/3 through Saturday 1/6 at Kagin's table 1026 and during the Houston Money Show Thursday 1/18 through Saturday 1/20 at table 601.
To register go to Kagins.com or contact Nina@Kagins.com or call 888-8KAGINS(852-4467).
Comments
Sounds like a turn of the tide in lower end collectors coins. Others may follow on thier lower end coins.
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Is that the same Nina from GreatCollections fame?
Latin American Collection
Yes, she's been with Kagin's since shortly after they got back into the auction scene.
This is pretty exciting. I'm excited to see the lots and hope it is a success.
If it does Kagin's was the trend setter as this is a way better Rollback then anything I've ever seen at WalMart
With the buyer premium savings compared to other auction houses it allows bidders an extra bid increment to win the lot for basically free.
It's no doubt terrific to see a lower BP, but the release specifically notes that this is an "introductory rate" and again specifies the rate is for that sale without noting an expansion to other auctions.
In honor of the memory of Cpl. Michael E. Thompson
Will their auctions still run through icollector or will they have a stand alone platform?
"Introductory Price"...Lets see how long that will last.
I have always thought a BP is a bad idea. That is one reason I love eBay.
I have done art shows where people had to pay to enter. I have also done art shows where it is free to the public. One show had about 5000 people and the other had about 100,000. As a seller, I don't want buyers to pay a fee.
I went to kagins.com and I'm not seeing anything there yet?
They sent this via email on December 30, 2017.
Better to have had auction setup ,ready to go... before announcing
not long
I dunno...... Start at $1, cheap fees....Sounds too good.
The TBTF auction companies will need a government bail out
What about candid lot consultations? I get them from Heritage (80% of the time or more, they tell me not to bid on a particular coin, and why). Would I get this same level of service and candor from Kagin's? And if so, from whom?
If you don't get this service, you are bidding on lots sight unseen, and I would never do this under any circumstances.
"Seu cabra da peste,
"Sou Mangueira......."
very cool!
I presume kagins for this sale will be offering 100% of hammer and their net will be the 7.5%.
This is the same as when heritage had a 17.5% BP and was allowing up to 110% of hammer to certain clients.
Here the playing field is level and kagins is just offering to sell your coins for 7.5% straight.
Sounds pretty straightforward to me