Do we collectors need another coin auction company?
RYK
Posts: 35,800 ✭✭✭✭✭
One year ago, I would have answered "No", but today, I think that we do.
One year ago, Heritage was the huge auction conglomerate (that it is today) with massive auctions and market dominance. ANR was the niche, boutique collector-friendly firm with the great service and great catalogs. Bowers and Merena and Superior were losing ground, and Goldberg's was more of a dealer-oriented firm. Stack's was the venerable New York firm that people either loved or hated for their traditional approach and quirkiness.
As a collector, if I were going to auction my collection, it would be between ANR and Heritage.
Fast forward one year, and ANR and Stack's have merged, and, at least to me, the combined entity is looking a lot more like old Stack's than old ANR. Maybe B&M is gaining some ground, but Heritage looks like the only show in town.
I like Heritage and have had many positive experiences with Heritage, but I think that they need some competition.
Any other opinions on this?
One year ago, Heritage was the huge auction conglomerate (that it is today) with massive auctions and market dominance. ANR was the niche, boutique collector-friendly firm with the great service and great catalogs. Bowers and Merena and Superior were losing ground, and Goldberg's was more of a dealer-oriented firm. Stack's was the venerable New York firm that people either loved or hated for their traditional approach and quirkiness.
As a collector, if I were going to auction my collection, it would be between ANR and Heritage.
Fast forward one year, and ANR and Stack's have merged, and, at least to me, the combined entity is looking a lot more like old Stack's than old ANR. Maybe B&M is gaining some ground, but Heritage looks like the only show in town.
I like Heritage and have had many positive experiences with Heritage, but I think that they need some competition.
Any other opinions on this?
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and since he has quite a few "blank i like", i will offer him my business for now.
so there is one more competitor. any more folks?
Coin ON!
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Stacks - Old fart of auction houses, will become less and less relevant over time
ANR - Ceases to exist, consumed by Stacks
Bowers & Merena - Feet away from falling off the cliff of relevance
Superior - Fell off the cliff some time ago
DLRC - Aspirations to compete but needs to dedicate huge effort to gain more acceptance as a major auction house.
Legend - Still in infancy stage with auctions, much time is needed to see how they develop.
So to sum that up, we have one all around good major auction house at the moment...Heritage.
<< <i>If he ever gets them interent savvy (which he said he is working on), watch out Heritage! >>
Bingo. In this day and age for any auction house to be a major competitor they are going to have to be a very technologically sophistacted company. An auction house with no website or a weak website simply will not survive as a major auction house any longer. It's the 21st century whether the long beards at Stacks accept it or not. Heritage has embraced the technology and look where it has gotten them.
I would really respect an auction company that put their reputation on the line with every coin they sold.
<< <i>We have had to take a short break until I can find an auction director to help out. Physically it was too draining for our current staff to do it.
But boy did we have some great sales and pick up some great customers! We hope to have the slot filled BEFORE ANA. Believe me, we are NOT done!
Right now, if I had to guess who a #2 would be-it would be B+M. Deeds has done a remarkable job of bringing them back from the dead. If he ever gets them interent savvy (which he said he is working on), watch out Heritage!
Stacks just doesn't get it about interent. They also have to integrate ANR better.
DLRC lacks the crediblity from most major collectors still. But watch out for them too! >>
Maybe Legend should take this opportunity to start up a traditional auction house, rather than just an internet one. With all of the turmoil currently in the industry, and what seems like people jumping ship at the earliest opportunity, maybe it is time for Legend to poach some top talent from the established auction houses and become the boutique firm that the numismatic community is crying out for.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>Wouldn't Teletrade fall into this category? >>
I do not think so, for the same reason that I do not consider DLRC an auction house. An auction house should have at least some offering of sight-seen auctions.
<< <i>I would really like one auction company to step up and tell it like it is: put their reputation behind the coins they sell. No more glowing descriptions of PR70DCAM memorial cents with obvious problems. No more $10 Indians with problems so concrete that it falls off on a felt pad. >>
They would get no consignments.
Isn't this what you are supposed to pay your agent for
Bruce Scher