How to price up a auction lot?

[Bigmarc]

Hello all.

I need a little advice on how to price up a action lot.

Usually I tend to bid on items on silver content only but where is the line between this and deciding what is a collector's item. I have many pre decimal British that I just stack. The auction lot is a large mixture of trade dollars and various foreign coins.

Basically I've already decided I want these but need to make sure I have the appropriate funds available. I know there is a risk of fakes but that's the gamble. I'm not after a valuation but if anyone has any insight into the thought process when looking at this kind of lot I would be grateful. There is about 100 lots. Basically I've added up the silver content but don't feel I would be successful on this alone.

Thanks

 

[stefffana]

It is difficult to evaluate some old coins from pictures. Try to bid more for very popular silver UK coins, as shillings, florins, 3d, half crowns. With this type is easy to price them and the risk of buying fakes is very low. At auction, place your best price and just wait. Stay safe, bidding only looking at melting value plus max 5%. If will be, will be. If not, try another one. I know, +5% can be weird for scrap silver, but everyone want them and even you can not flip them now, in one year these +5% will be covered by spot price increases.

For example:

Auction for 787g silver .500 pre 47. Postage £8.99

787g x 0.5 = 393.5g pure silver x £0.58 ( spot price at this moment ) = £228.23 x 105% = £239.64 - £8.99 postage = £230.65 

In this case, you are buying with £0.609/g equivalent pure silver. ( £239.64 : 787g : 0.500 ), physical silver, a great price.

So, you will put this price maximum bid and you have good chances to win.

Don't bid for exotic coins. It is difficult to evaluate and sell. It is another story with this coins with a very limited market here. What do we know about turkish, arabian, east european, asian or morrocan coins? Almost nothing.

Stay safe, buy quantity, build a silver stack with scrap coins and have fun.

Happy bidding! 🤗 But be aware, it is additive.

Cheers!

Stefan.

 

 

[Bigmarc]

Yes your right, stick to what I know. I have bought plenty of British coins from auction. I like the look of this lot so I will just bid on the weight. Usually on eBay I bid in the weight X spot and I pay for half the postage. This one is not eBay so thought I would play it difference.

Thanks for your reply.

 

[stefffana]

How do you pay only half postage cost? It is possible?

[Bigmarc]

4 hours ago, stefffana said:

How do you pay only half postage cost? It is possible?

My personal feeling with eBay and postage is the buyer doesn't want to pay it. I've quickly taken a couple of screen shots of sold items today.

This one has a spot price of £79.80 with free post.

This one has a spot price of £53.

so the first one I would have bid spot plus half the cost of his postage.

the second one I would have bid £54

i was a little unclear of my original question. It's not a eBay lot. More on a old bearded man with a wooden hammer deal.

 

 

 

 

[stefffana]

8 minutes ago, Bigmarc said:

My personal feeling with eBay and postage is the buyer doesn't want to pay it. I've quickly taken a couple of screen shots of sold items today.

This one has a spot price of £79.80 with free post.

This one has a spot price of £53.

so the first one I would have bid spot plus half the cost of his postage.

the second one I would have bid £54

i was a little unclear of my original question. It's not a eBay lot. More on a old bearded man with a wooden hammer deal.

 

 

 

 

 

Thank you for replying. I understand now. Happy bidding and good luck!