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0% seller Auctions


marston59

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Depending on what you are selling and its respective value you can normally negotiate either very low or zero seller fees with a few of the bigger coin players, heritage, DNW, Spink etc. But  the auction houses all will take their 20-30% cut somewhere so the amount you ultimately get back is probably not that different as most buyers will (should) take the buyer fees into consideration. There are some of the online auctions that have lower total fees, such as @CoinsOfTheRealmAuctions so you get more back but it depends on what market you want to hit I guess and what you think is the best psychology. best of luck

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Nothing in this world is free...

However, it is free to list an auction on The Silver Forum!

Try here yourself!

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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1 hour ago, marston59 said:

Many auctions are charging below 10% seller fees with no buyer fees, these are a great move forward.

I’m looking for 0% seller with just buyer fees.

Think @BackyardBullion advice is worth considering?

Depending on value or expectations of coin of course. 

I like to buy the pre-dip dip

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1 hour ago, marston59 said:

Many auctions are charging below 10% seller fees with no buyer fees, these are a great move forward.

I’m looking for 0% seller with just buyer fees.

Am a bit curious - why are you concerned about seller fees only and not buyer's? Because, you know, you may find an auction house charging 0% to sellers, but if they take e.g. 25% from buyers, then buyers will anyway bid only up to 80% of their perceived lot's value (80*1.25=100), so your 0% alone won't guarantee you higher proceeds...

So unless you have something else on your mind, I think for a seller it's always important to consider both seller as well as buyer fees.

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I suppose it's a balancing act as @SilverMike suggests... the more well-known auction houses get more eye-balls looking at your lot and therefore, in theory, more potential buyers <globally>. Some coins could achieve a better result for you in TCC, some in SovereignRarities for example, regardless of their respective fee structures. Certain auction houses seem to have consistently a lower clearance rate than others. Good luck.

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. - H.L. Mencken

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On 17/01/2022 at 17:51, marston59 said:

Many auction allow sellers to set a reserve, so with low seller fees the seller gets the price he sets.

In that case, I'm going to put some Krugerrands in a zero-seller-fee auction, at £1 million each. Can't think why I haven't done that before, I could have saved over 50 years of hard work!

😎

Edited by LawrenceChard

Chards

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The TCC is an excellent platform with only 8/10% seller fees, I have brought and sold.

But as a seller you are not in control of the price as many modern coins sell well under issue price, good for buyers.

I have watched modern coins with an issue price of £12000 sell for £8500 with fees to be taken as well.

That seller would not have accepted that price if offered pre auction, with a reserve and lower seller fees he would have been in control.

A new platform with 0% seller fees a reserve and 10% buyer fees.

This is just my way of improving conditions for sellers.

Edited by marston59
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1 hour ago, marston59 said:

The TCC is an excellent platform with only 8/10% seller fees, I have brought and sold.

But as a seller you are not in control of the price as many modern coins sell well under issue price, good for buyers.

I have watched modern coins with an issue price of £12000 sell for £8500 with fees to be taken as well.

That seller would not have accepted that price if offered pre auction, with a reserve and lower seller fees he would have been in control.

A new platform with 0% seller fees a reserve and 10% buyer fees.

This is just my way of improving conditions for sellers.

Isn't this just the fact that a coin is not doing well?

My experience of modern coins is that there are quite a lot that go for less than royal mint issue prices just because they are not popular.

Putting any item in an auction will leave risk for sellers as to how much they will realize.

9/10 modern proof coins will end up losing people money (my opinion, sorry to burst some people's bubbles) but some end up doing very well.

I personally think any auction house brings way more potential customers than just trying to sell yourself, they add value.

Whether a coin is financially successful has very little to do with the auction house fees in my opinion.

Just my 2¢

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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1 hour ago, marston59 said:

I have watched modern coins with an issue price of £12000 sell for £8500 with fees to be taken as well.

That seller would not have accepted that price if offered pre auction, with a reserve and lower seller fees he would have been in control.

If a seller does not want to accept the market price then he's not really a seller imo.

 

1 hour ago, marston59 said:

A new platform with 0% seller fees a reserve and 10% buyer fees.

 

Does it really matter where fees are "allocated" when there are 3 parties to a transaction?

Edited by ArgentSmith

"It might make sense just to get some in case it catches on"  - Satoshi Nakamoto 2009

"Its going to Zero" - Peter Schiff 2013

"$1,000,000,000 by 2050"  - Fidelity 2024

 

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An update from the TCC

It’s a way forward for sellers who want a reserve set.

We also plan to launch The Coin Cabinet marketplace this year. This will allow our clients to list items at ‘buy it now’ prices. We believe this offers a solution for one-bidder type coins that constitute a high risk (or in case the consignor uses The Coin Cabinet guarantee, our risk) in a non-reserve auction environment. To take part, items for sale will be sent to The Coin Cabinet for storage while listed on the marketplace. The commission will follow the same structure as our auction consignment.
 

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19 hours ago, NewCoins said:

I guess it depends on the definition of seller.

People in all walks of life, whether it's houses, cars or whatever else, have an idea of what they think the value that something is worth.

Sometimes the market doesn't agree with that, sometimes to disappointment.

In those instances, you need to reevaluate what value you have apportioned to the item, and decide whether to accept the markets appraisal, or, decide not to sell it, if you think the value will improve.

In terms of coins, I think what @BackyardBullion said is spot on.

 

So you would be happy to sell say 2 coins you brought 2019/2020 issue price 24k for 15k a year later, because that's the current market price, the winner is the auction house and the buyer.

The coins sold at the TCC auction where not mine. 

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15 minutes ago, marston59 said:

So you would be happy to sell say 2 coins you brought 2019/2020 issue price 24k for 15k a year later, because that's the current market price, the winner is the auction house and the buyer.

The coins sold at the TCC auction where not mine. 

That's the risk you take with buying coins! 

If there aren't buyers to buy at the prices you want even an auction house with 0% fees all around won't help!

Proof coins are a VERY risky investment and should always be looked at it like that.

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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17 minutes ago, marston59 said:

So you would be happy to sell say 2 coins you brought 2019/2020 issue price 24k for 15k a year later, because that's the current market price, the winner is the auction house and the buyer.

The coins sold at the TCC auction where not mine. 

No. Of course I wouldn't be happy.

But, it depends on the reason you might buy the coins in the first place.

If you or I buy them for speculation, sometimes we might win, sometimes we might lose.

That's the risk. I understand that anyone selling anything, wants to take as much of the sale value as possible.

But, at the end of the day, there isn't much anyone can do about anything being worth less than what anybody paid for it

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1 hour ago, marston59 said:

An update from the TCC

It’s a way forward for sellers who want a reserve set.

We also plan to launch The Coin Cabinet marketplace this year. This will allow our clients to list items at ‘buy it now’ prices. We believe this offers a solution for one-bidder type coins that constitute a high risk (or in case the consignor uses The Coin Cabinet guarantee, our risk) in a non-reserve auction environment. To take part, items for sale will be sent to The Coin Cabinet for storage while listed on the marketplace. The commission will follow the same structure as our auction consignment.
 

That's an interesting development - my initial thought is they'll be drowning in coins sent to the Marketplace, but then again, it's not their problem to be holding tons of coins if they have suitable premises and insurance.

A very interesting newsletter overall.

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. - H.L. Mencken

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Most seem to be missing the point, the new auction platforms are only charging buyer fee, say 10%.

These have no guarantee for the seller, it’s about time the risk was removed.

The new platform from the TCC will protect the seller.

The seller has a choice auction at risk but will sale, or buy now but may take time to sell.

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On 19/01/2022 at 08:50, marston59 said:

or buy now but may take time to sell.

Or may never sell depending on the ask.

"It might make sense just to get some in case it catches on"  - Satoshi Nakamoto 2009

"Its going to Zero" - Peter Schiff 2013

"$1,000,000,000 by 2050"  - Fidelity 2024

 

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On 19/01/2022 at 08:50, marston59 said:

Most seem to be missing the point, the new auction platforms are only charging buyer fee, say 10%.

These have no guarantee for the seller, it’s about time the risk was removed.

The new platform from the TCC will protect the seller.

The seller has a choice auction at risk but will sale, or buy now but may take time to sell.

I get this point and it's a fair one.

On 19/01/2022 at 08:03, marston59 said:

So you would be happy to sell say 2 coins you brought 2019/2020 issue price 24k for 15k a year later, because that's the current market price, the winner is the auction house and the buyer.

The coins sold at the TCC auction where not mine. 

However, the seems to be about market rates. 

There are two separate things. I think a buy it now on in an auction house is a good thing.

At the end of the day though, if it isn't around the market rate, it probably won't sell.

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No one has to buy at auction and you don’t have to sell. If not sure, then you put a reserve on it. The people making a good risk free amount from both ends are the auction houses.

If you are thinking of selling on, the one thing you have to allow for is the collector who hasn’t got the item, is not selling in future and is willing to pay a premium to own something. Auction fees are then nearly irrelevant.

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Royal Mint Sellers 0%?

 

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One of the key elements for success with the new CC plan is that the seller advertises the coin for a reasonable price, 

The majority of coins sold by the CC are graded and in recent times we have seen people trying to sell some modern coins at over inflated prices in particular for 70 grade coins and i believe the seller would fail with such coins in many cases.

Also many people that use coin auctions set a max price proir to bidding so any coin for sale with a reserve above max would not get a glance !

I have noticed a gold £5 sit on Ebay for what must be close to a year now with the same price that is well ott, i guess it depends on how quickly that you want to sell and if you a gambling man ( or woman )

 

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