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In the royal mint auction lot, there is a 4 coin 1989 proof sovereign set, starting at £3500. Chards have one listed at 9 and a half grand, so thought maybe it would be worth posting


Solachesis

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Will be interesting to se the hammer price. 

9 hours ago, SheepStacker said:

Have you seen that scratch?  It runs from under his eye to almost the edge of the coin.    And the RM says it only  has a few minor surface marks............wow! 

A few minor surface marks but overall a very pleasing example. S.4076

Screenshot 2022-11-17 at 07.28.12.png

Screenshot 2022-11-17 at 07.27.45.png

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VAT is usually on auctioneers premiums. 20% premium is actually now pretty low. Half the time with auction estimates you wonder if the auctioneers have even looked at the items. They always put strange low estimates onto items just to get you into bidding. Remember though, they can’t put the estimates lower than any reserve. 

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My first auction was just over a year ago, and limited to app type auctions (Coin Cabinet, COTR etc) these were both about 6% and 0% buyers fees, no bidding fee's. I personally wouldnt pay above 10% on what feels like principle, or maybe im cheap! I cant see underlying costs/marketing justify this for me. But I do wonder if overall these auctions with high fee's work out cheaper, with potentially fewer bidders. 

Just noticed Coin Cabinet have 5 1937 Sovs (not perfect 5's and doubles) for the Nov auction and a 4 coin 89 Sov set currently at 4.6k 

Edited by harrygill111

 

 

 

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39 minutes ago, harrygill111 said:

My first auction was just over a year ago, and limited to app type auctions (Coin Cabinet, COTR etc) these were both about 6% and 0% buyers fees, no bidding fee's. I personally wouldnt pay above 10% on what feels like principle, or maybe im cheap! I cant see underlying costs/marketing justify this for me. But I do wonder if overall these auctions with high fee's work out cheaper, with potentially fewer bidders. 

Just noticed Coin Cabinet have 5 1937 Sovs (not perfect 5's and doubles) for the Nov auction and a 4 coin 89 Sov set currently at 4.6k 

I think that you will find that due to the fact they only auction coins and similar, companies like Coin Cabinet are based in a small building, few employees and few overheads. The two auction houses closest to me employ quite a few people, have large premises and sell everything. Some of the auctions having over 6 or 700 lots plus of all sorts. They have huge turnover but a lot of costs, hence they have to charge more. You just factor in these costs when considering any bids. If aren’t willing to pay, that’s fine, however there are some bargains to be had at here auctions.

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2 hours ago, GoldDiggerDave said:

Will be interesting to se the hammer price. 

Have you seen that scratch?  It runs from under his eye to almost the edge of the coin.    And the RM says it only  has a few minor surface marks............wow! 

A few minor surface marks but overall a very pleasing example. S.4076

Screenshot 2022-11-17 at 07.28.12.png

Screenshot 2022-11-17 at 07.27.45.png

I See No Problem Here Crazy Eyes GIF - I See No Problem Here Crazy Eyes -  Discover & Share GIFs

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The leaner model with specialist online coin auctioneers feels to make more sense for PMs, also less painful for buyers who will endure fewer irrelevant lots.

It's another case for a low fee centralised 'ebay' type site for PM's, with the USP being a centralised coin authenticity testing, But inevitably, costs will spiral again, needing armed guards to secure your location! 

 

I wonder if the various auction houses could come on board, essentially as you'd aim to own the traffic, and let auction house's be sellers with special privileges, not necessarily having to send coins in. 

 

 

Edited by harrygill111

 

 

 

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13 hours ago, Solachesis said:

This is completely unrelated, but I just saw the Chards YouTube channel new video, and I say good sir, you got me excited thinking you might have received one from the RM to show case. What I witnessed instead was a scandal I say! 

Which video?

Got a link?

😎

Chards

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2 hours ago, GoldStatue said:

If you have the right coin it might well be worth sending it to the Royal Mint auction.

I remember looking at the results of the last auction and falling off my chair when I saw an ungraded Kew Gardens 2009 proof gold sold for about £10k, the exact same coin went through ebay for under £3k around the same time.

The last price @ChardsCoinandBullionDealer had on one 

https://www.chards.co.uk/2009-kew-gardens-gold-proof-50p-coin/10534

Was £2500 

£2,500.00

(VAT Exempt)

I accidentally clicked on a Google result for the self-proclaimed The UK's No.1 Online Bullion Dealer*, and their last price was £1227

QTY Net Per
Unit
VAT Per
Unit
Gross Per
Unit
1+ £1,227 £0.00 £1,227

Which sounds a little unrealistic!

😎

Chards

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5 hours ago, Petra said:

I think that you will find that due to the fact they only auction coins and similar, companies like Coin Cabinet are based in a small building, few employees and few overheads. The two auction houses closest to me employ quite a few people, have large premises and sell everything. Some of the auctions having over 6 or 700 lots plus of all sorts. They have huge turnover but a lot of costs, hence they have to charge more. You just factor in these costs when considering any bids. If aren’t willing to pay, that’s fine, however there are some bargains to be had at here auctions.

The concept "They have huge turnover but a lot of costs, hence they have to charge more." is flawed. 

In general big companies can ran more efficiently, therefore their costs could abd should be a lower percentage of turnover,

If this fails to apply, then the company in operating inefficiently, which I am sure does happen in many cases, but shouldn't.

😎

Chards

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41 minutes ago, LawrenceChard said:

The concept "They have huge turnover but a lot of costs, hence they have to charge more." is flawed. 

In general big companies can ran more efficiently, therefore their costs could abd should be a lower percentage of turnover,

If this fails to apply, then the company in operating inefficiently, which I am sure does happen in many cases, but shouldn't.

😎

True, but that’s probably why most auction houses fees are now 30% plus. All those auctioneers that work at each place aren’t taking home peanuts 🫢🤔

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On 22/11/2022 at 14:08, Goldfever20 said:

A 4 coin set went at auction for £5250 + (6%+vat) someone just got a bargain. 

It seemed to be describes as A/FDC. If that means almost FDC and the coins are unlikely to grade at 70, then not so good, but still profitable. The real money in these sets is if the £5 gets a 70

Profile picture with thanks to Carl Vernon

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On 17/11/2022 at 07:32, GoldDiggerDave said:

Have you seen that scratch?  It runs from under his eye to almost the edge of the coin.    And the RM says it only  has a few minor surface marks............wow! 

They'd argue it's only a minor scratch, quite shallow, and you probably wouldn't see it except in a certain light.

Profile picture with thanks to Carl Vernon

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8 hours ago, sovereignsteve said:

They'd argue it's only a minor scratch, quite shallow, and you probably wouldn't see it except in a certain light.

Mate this auction was nothin but a bin sale, loads of grade C, spotty problematic coins even if they sold at spot they still would make 20% commission, it's not a bad tactic really when you think about it.   

Please follow my dealership sub form for NGC grading, coin conservation, sales and helpful videos coming soon👍

https://www.thesilverforum.com/forum/148-golddiggerdave-uk/

Thank you for all your support.  

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