Should there be more than one "Official ANA Convention Auctioneer"?

MrEureka · February 26, 2008 4:29AM

For every ANA convention, auctioneers bid for the right to be the "Official ANA Convention Auctioneer". The winner has an exclusive on the convention site. Other auctioneers are forced to have their auctions off site, before the show begins, and they pay nothing to the ANA.

Would it be better for the ANA and its members if multiple auctioneers - perhaps 2 or 3 - were awarded auction rights? Would the competition bring down the commission rates? Would there be a greater diversity of material offered? (Usually, ANA auctions have no world coins, ancients, tokens, medals or paper money.) Any other advantages? Disadvantages?

FinallyHere · February 26, 2008 4:54AM

I don't think Heritage would like that too much

Longacre · February 26, 2008 5:13AM

From a collector's standpoint, I don't really care if someone is the "Official Auctioneer" or not. If there is a coin I want, I will make sure my preferred dealer is available to represent me at that auction. Since the ANA only offers one Official Auctioneer spot, I think they are getting the maximum fee for that right, and if more were offered, perhaps the amounts paid would be watered down because there are now multiple Official Auctioneers.

IGWT · February 26, 2008 5:23AM

It would make sense only if the auctions were run concurrently (the "official" auctions often begin even before the conventions open); and, running concurrent auctions would make sense only if they covered different areas. For example, it might make sense to have two auctions running concurrently if one dealt with post-1964 issues while the other dealt with First Mint issues. Or, as another example (as you suggested), maybe one auction could handle US coinage and the other could handle foreign coinage.

Coinosaurus · February 26, 2008 5:23AM

Everybody holds an auction anyway - does the "official" label really help that much

Aegis3 · February 26, 2008 8:50AM

On the topic of having more than just US coin after US coin in the auction, maybe the ANA can use some of their clout to make it happen. Either let the auctioneer auction more lots if they include other categories (and the added lots, and really, more, should be of the "other" material)[1], or even give some weight to having other material in the auctions as one deciding factor. Having exonumia, paper money, or world coins in an ANA auction are not surprising historically. And even if the near-monopoly one firm has on ANA auctions continues, I'm sure they could now put in such items without problem.

*****
[1] Say, the ANA limits the auction to 3500 lots if only US coins (or if say 95%+ US coins only), but can have 4000 lots with 750-1000 lots consisting of paper money, exonumia, and/or world coins. (Or 4500 lots with 1200-1500 other).

dorancoins · February 26, 2008 9:24AM

<< For every ANA convention, auctioneers bid for the right to be the "Official ANA Convention Auctioneer". The winner has an exclusive on the convention site. Other auctioneers are forced to have their auctions off site, before the show begins, and they pay nothing to the ANA.

Would it be better for the ANA and its members if multiple auctioneers - perhaps 2 or 3 - were awarded auction rights? Would the competition bring down the commission rates? Would there be a greater diversity of material offered? (Usually, ANA auctions have no world coins, ancients, tokens, medals or paper money.) Any other advantages? Disadvantages? >>

ABH = Anyone But Heritage!

MrEureka · February 26, 2008 9:27AM

ABH = Anyone But Heritage!

Michael - Two questions:

1. Why "Anyone but Heritage"?

2. Will you be running for the ANA Board again?

coinkat · February 26, 2008 9:39AM

Andy:

Just curious... what rules exist, if any, that would prevent a coin auction from being conducted on the bourse floor of the show? I am thinking more in terms of a silent auction whereby bids can be left and with lots closing at staggered times. Has something like this ever been done?

dorancoins · February 26, 2008 10:17AM

<< ABH = Anyone But Heritage!

Michael - Two questions:

1. Why "Anyone but Heritage"?

Why not? What is wrong with Stacks, Superior, Bowers, ANR? Heritage is not the only kid on the block!

2. Will you be running for the ANA Board again?

That remains to be seen - right now, I am running for a seat on the Central States board. Possibility of winning - questionable (hey, at least I'm being a realist.) >>

MrEureka · February 26, 2008 10:20AM

<1. Why "Anyone but Heritage"?>

Why not? What is wrong with Stacks, Superior, Bowers, ANR? Heritage is not the only kid on the block!

No reason why the others can't get the nod. But you didn't answer my question.

MrEureka · February 26, 2008 10:22AM

Just curious... what rules exist, if any, that would prevent a coin auction from being conducted on the bourse floor of the show? I am thinking more in terms of a silent auction whereby bids can be left and with lots closing at staggered times. Has something like this ever been done?

Coinkat - I don't think there are any rules to prevent this, and I don't think it has been done. What would be the advantages, and why does it need to be on the bourse floor?

dorancoins · February 26, 2008 10:24AM

<< <1. Why "Anyone but Heritage"?>

Why not? What is wrong with Stacks, Superior, Bowers, ANR? Heritage is not the only kid on the block!

No reason why the others can't get the nod. But you didn't answer my question. >>

Andy - must every numismatist do dealings with only one auction firm. IMHO, I think Heritage is overrated. Just because they're the biggest does not mean necessarily that they are the best. You don't by chance have a vested interest in Heritage, do you?

MrEureka · February 26, 2008 10:25AM

Michael, Michael, Michael. You still didn't answer my question.

dorancoins · February 26, 2008 10:28AM

<< Michael, Michael, Michael. You still didn't answer my question. >>

I just think Heritage is overrated. Period! AND....that is my final answer!

coinkat · February 26, 2008 10:31AM

Just an idea... it seems that the ANA bourse is well attended and it seems a way to take an auction to the collectors/masses instead of the opposite.

WTCG · February 26, 2008 10:32AM

<< 

<< For every ANA convention, auctioneers bid for the right to be the "Official ANA Convention Auctioneer". The winner has an exclusive on the convention site. Other auctioneers are forced to have their auctions off site, before the show begins, and they pay nothing to the ANA.

Would it be better for the ANA and its members if multiple auctioneers - perhaps 2 or 3 - were awarded auction rights? Would the competition bring down the commission rates? Would there be a greater diversity of material offered? (Usually, ANA auctions have no world coins, ancients, tokens, medals or paper money.) Any other advantages? Disadvantages? >>

ABH = Anyone But Heritage! >>

In case you haven't noticed, Heritage is not the only auction company that has been awarded the title of "official auctioneer" for a convention. Every major auction company has been awarded the title of "official auctioneer" for a convention somewhere and sometime in the past.

Speaking of official auctioneers, Bowers and Merena is the official auctioneer of the upcoming Baltimore Convention later this week. It's strange that it's only "ABH" and not "ABBM" or "ABS's"

Your "ABH" mentality is very unreasonable. Remember, nobody is required to conduct business with anyone and I'm sure Heritage does not lament one bit over your absence.

dorancoins · February 26, 2008 10:38AM

<< ABH = Anyone But Heritage!

Your "ABH" mentality is very unreasonable. Remember, nobody is required to conduct business with anyone and I'm sure Heritage does not lament one bit over your absence. >>

I have never done any dealings with them in the past and I will not do any dealings with them now or anytime in the future. If you or others wish to do any dealings with them, fine. There are some in this hobby who may not hold such a company in the same regard as you or Mr. Eureka.

WTCG · February 26, 2008 10:41AM

<< 

<< ABH = Anyone But Heritage!

Your "ABH" mentality is very unreasonable. Remember, nobody is required to conduct business with anyone and I'm sure Heritage does not lament one bit over your absence. >>

I have never done any dealings with them in the past and I will not do any dealings with them now or anytime in the future. If you or others wish to do any dealings with them, fine. There are some in this hobby who may not hold such a company in the same regard as you or Mr. Eureka. >>

So you're forming judgement on a company that you have NO PRIOR relationship experience with? Not only is that unfair to Heritage, it demonstrates gross ignorance on your behalf, judging an entity based on unsubstantiated speculation.

ColonialCoinUnion · February 26, 2008 10:47AM

<< I have never done any dealings with them in the past and I will not do any dealings with them now or anytime in the future. >>

I'm not here to jump on you, but that's shocking.

You've never bid in their auctions?

Used their archives?

Consigned to them?

I think you might be missing out on about 70% of the coins auctioned in America each year, as well as a superb source of free market data.

dorancoins · February 26, 2008 10:49AM

<< 

<< 

<< ABH = Anyone But Heritage!

Your "ABH" mentality is very unreasonable. Remember, nobody is required to conduct business with anyone and I'm sure Heritage does not lament one bit over your absence. >>

I have never done any dealings with them in the past and I will not do any dealings with them now or anytime in the future. If you or others wish to do any dealings with them, fine. There are some in this hobby who may not hold such a company in the same regard as you or Mr. Eureka. >>

So you're forming judgement on a company that you have NO PRIOR relationship experience with? Not only is that unfair to Heritage, it demonstrates gross ignorance on your behalf, judging an entity based on unsubstantiated speculation. >>

AS far as I'm concerned, I am not going to lose sleep over this discussion. The only auction that I do anything with is eBay, and I have not had much inclination to continue any dealings with them.

dorancoins · February 26, 2008 10:50AM

<< 

<< I have never done any dealings with them in the past and I will not do any dealings with them now or anytime in the future. >>

I'm not here to jump on you, but that's shocking.

You've never bid in their auctions?

Used their archives?

Consigned to them?

I think you might be missing out on about 70% of the coins auctioned in America each year, as well as a superb source of free market data. >>

As I said, there are others. And as I said before, I am not losing sleep over discussion.

WTCG · February 26, 2008 10:53AM

<< 

<< I have never done any dealings with them in the past and I will not do any dealings with them now or anytime in the future. >>

I'm not here to jump on you, but that's shocking.

You've never bid in their auctions?

Used their archives?

Consigned to them?

I think you might be missing out on about 70% of the coins auctioned in America each year, as well as a superb source of free market data. >>

Hey John, I don't think he cares. Apparently his coins are nice enough that Heritage's offerings (or offerings from B&M or Stack's) would actually hinder the appeal of what he's got now.

MrEureka · February 26, 2008 10:54AM

You don't by chance have a vested interest in Heritage, do you?

OK, you got me! Yes, I own Heritage. Jim and Steve and Greg are my secret employees. Pretty cool, huh? Just please don't tell anyone. Thanks, Michael!

ColonialCoinUnion · February 26, 2008 10:57AM

<< You don't by chance have a vested interest in Heritage, do you?

OK, you got me! Yes, I own Heritage. Jim and Steve and Greg are my secret employees. Pretty cool, huh? Just please don't tell anyone. Thanks, Michael! >>

I'm surprised that BB didn't get this scoop first.

Frankcoins · February 26, 2008 2:33PM

<< For every ANA convention, auctioneers bid for the right to be the "Official ANA Convention Auctioneer". The winner has an exclusive on the convention site. Other auctioneers are forced to have their auctions off site, before the show begins, and they pay nothing to the ANA.

Would it be better for the ANA and its members if multiple auctioneers - perhaps 2 or 3 - were awarded auction rights? Would the competition bring down the commission rates? Would there be a greater diversity of material offered? (Usually, ANA auctions have no world coins, ancients, tokens, medals or paper money.) Any other advantages? Disadvantages? >>

Doesn't the ANA get part of the commission from the "official auctioneer" as well as for selling the rights?

That's like a whore that charges for each end...

Should there be more than one "Official ANA Convention Auctioneer"?

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Should there be more than one &quot;Official ANA Convention Auctioneer&quot;?

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Should there be more than one "Official ANA Convention Auctioneer"?