Options
Heritage Auctions and Modern coinage.
keets
Posts: 25,351 ✭✭✭✭✭
I was browsing over at Heritage just now and thought I'd pose a question about how they choose to sell Modern coins at their site, certainly a decision arrived at by experience. Hopefully, any replies can be at least a little open-minded, although I haven't forgotten where I'm at!!!
Anyway, what I noticed is that most Modern coins are sold in this fashion---This lot is in: Signature Session - No Floor or Phone Bidding (Mail, Fax, Internet, and Heritage Live)---and additionally there is almost always the bare bones description which is phrased like this---NGC Census: (19/0). PCGS Population (7/0). (#85998)(Registry values: N208) (#85998). That sure is helpful and amounts to nothing while telling a prospective bidder to look at the picture and take a flyer, because we all know just how lame the Heritage photgraphy can be most of the time. Strangely, when coins are sold at the floor where the majority of bidders actually can look at the coin prior to the auction there is usually a nice description.
My thought is that Heritage may not realize that they are probably hurting sales prices as much as anything else with vague and non-descript listings of items relegated to sight-unseen bidding. I wonder why they even bother with Moderns if this is the best they think they can do for the consignors. But then there's that photography thing that they do for everyone, so I guess it makes sense.
Al H.
Anyway, what I noticed is that most Modern coins are sold in this fashion---This lot is in: Signature Session - No Floor or Phone Bidding (Mail, Fax, Internet, and Heritage Live)---and additionally there is almost always the bare bones description which is phrased like this---NGC Census: (19/0). PCGS Population (7/0). (#85998)(Registry values: N208) (#85998). That sure is helpful and amounts to nothing while telling a prospective bidder to look at the picture and take a flyer, because we all know just how lame the Heritage photgraphy can be most of the time. Strangely, when coins are sold at the floor where the majority of bidders actually can look at the coin prior to the auction there is usually a nice description.
My thought is that Heritage may not realize that they are probably hurting sales prices as much as anything else with vague and non-descript listings of items relegated to sight-unseen bidding. I wonder why they even bother with Moderns if this is the best they think they can do for the consignors. But then there's that photography thing that they do for everyone, so I guess it makes sense.
Al H.
0
Comments
The 'no floor' bidding decision seems to be based on expected sales value. I am being more careful to understand if any coins of my submissions are deemed for the 'no floor' bidding. I agree that the coins appear to get weaker bidding versus expected. I know that is qualitative. The Heritage 'branding' is strong for the floor coins but doesn't extend to the non-floor coins.
A better description would help and give more confidence to bidders.
Dave
Link to 1950 - 1964 Proof Registry Set
1938 - 1964 Proof Jeffersons w/ Varieties