Why do auction houses do this?
cosmicdebris
Posts: 12,332 ✭✭✭
Instead of offering the nicer examples as separate lots they lump a bunch of crap in with them and offer them all as one lot? I would have loved to have bid on some of the individual pieces but now I can not afford to bid on ONE LOT OF 371.
Bill
09/07/2006
09/07/2006
0
Comments
I understand that, but also realize that the smaller the group, the more interested parties are going to bid. I would suggest that less valuable lots be sold, even by internet only, rather than live floor auctions. More interested bidders = higher prices realized.
I am adamantly against bulk lots for selling. It can be a great buying tool, however.
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
The other problem with this type of lot and description is, how the hell are we supposed to know exactly whats in there without a listing of the individual items! Obviously the floor bidders have a huge advantage and IMO the auction house didn't want to "waste" their time helping the rest of us fine tune our bids! I am sure a dealer will buy this lot and cherry the more desirable pieces. As you said in your PM we can expect to see the chaff on ebay in the near future.
Mark
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870