Coins of the realm auction

[refero]

anyone knows why there were so many unsold lots at last CoTR auction?

starting prices were just too high?

i personally dont attend as i find irritating the way they list (randomly) their lots. It is something it really get on my nerves..

[RDHC]

They always end up with quite a few unsold lots, from what I have seen over the last few years. I suspect that this may be because they put the minimum bid too high. However, I like CoR better than Coin Cabinet because the latter now imposes a 6% (or 18% for their premium auctions!) buyer's surcharge.  But at least Coin Cabinet start with a very low minimum bid in each case.

[Shinus73]

Yes, unrealistic starting prices vs the current market. The starting prices for a lot of modern stuff reflects where the market was three years ago, not where we are now.

[Spyder]

Well someone  has to pay the piper, if it is not the buyer, then it is the seller and that is why the starting price is high. Like ebay, sellers list higher to cover fees.

[SilverJacks]

In fairness to CoR, they must put a lot of work into their auctions and not get paid when the lot doesn't sell. It wouldn't be unfair of them to start charging the seller for the freedom of choosing their starting bid...

[Chrisplym]

I think that Coins of the Realm do a great job. I have bought via their auction site a couple of times. No buyer’s fee is a massive plus and makes them very competitive. It is for this reason that I now prefer to use them over other auctions. 

So far I have never sold anything with them so don’t know for sure but I have always assumed that the buyer has a big say in the starting price. I see this as a positive as it gives the buyer more control.

I have always found their service to be very good as well.

[westminstrel]

4 hours ago, Chrisplym said:

I think that Coins of the Realm do a great job. I have bought via their auction site a couple of times. No buyer’s fee is a massive plus and makes them very competitive. It is for this reason that I now prefer to use them over other auctions. 

So far I have never sold anything with them so don’t know for sure but I have always assumed that the buyer has a big say in the starting price. I see this as a positive as it gives the buyer more control.

I have always found their service to be very good as well.

I second this ☝🏽 While I’ve never got anything from their auctions, I’ve purchased directly, and they are genuinely terrific to deal with. 🙂

[refero]

22 hours ago, RDHC said:

However, I like CoR better than Coin Cabinet because the latter now imposes a 6% (or 18% for their premium auctions!) buyer's surcharge. 

i dont understand why 0% buyers premium should be a real advantage. When i participate to an auction i assume my competitors (other buyers) are informed and competent as i am.

If i set a limit on a specific lot i always write down the maximum i am ready to spend on that (and that includes eventual buyer's surcharge). If the maximum is 1000 gbp and the buyers premium is 0% then my maximum bid will be 1000. That will decrease of course as the buyers surcharge increases. I really dont see why an auction with 0% added fees should be something WOOOOOT

[modofantasma]

2 hours ago, refero said:

i dont understand why 0% buyers premium should be a real advantage. When i participate to an auction i assume my competitors (other buyers) are informed and competent as i am.

Whilst I've not yet bought (coins) at auction it's just simple to see one price Vs having to work your max bid and then deduct fees and costs to come up with your actual max bid. 

[modofantasma]

Somebody somewhere is paying though so presumably the sellers? Because of that they know the price they want for an item and have to add to that the selling fees to come up with their starting bid which perhaps is why a lot of items particularly bullion, look a bit pricy off starting bids alone  

[ZRPMs]

Bought from many auctions. In my humble experience COTR do a decent job and are not charging that much for their efforts in comparison to other auctions. I think they are quite fair in looking after the vendor and the purchaser. Clear price for the purchaser very helpful for those just getting in to coins and PM's. With the starting price giving the vendor an Idea of a minimum return. The coins are usually displayed well and auctions are promoted.

A local auction I recently went to had a good selection of sovereigns, However they charge 21% inc buyers premium and 22.8% sellers fee. The coins weren't presented very well and the knowledge of the coins was almost zero. in fact I informed them of 2 errors in the catalogue. There were a few, clearly new to auction's biding on the coins in the room that ran the price to very near £550 on some of the coins. I over heard one of them get the nasty shock at the office. "But I only bid up to £440. How is it that much" The auction house pulled £192.62 less the vat from charging the coin out at £532.40, Did nothing for passing on the richness of the info or history about the coin and in the process scalped both seller and buyer. Probably deterring the buyer from ever going to an auction ever again

A similar coin on COTR would be priced at a starting price of £430 with a guide of £440 - £480 and might sell for £450. It'll be well. Loads of info on the coin A very clear price for those starting out and at only 10% cost to the vendor.

In the examples above, Seller would have come away with more £405 at COTR as apposed to £339.68 with the auction house and a reduced cost to purchaser.

On top of this they usually manage to source nicer, better condition coins and scarce or rare coins. I think they do a lot for little. They are very knowledgeable and are happy to talk about the lots and even find coins for you. More wind to their sails I say. Happy to continue to bid in their auctions.

Edited June 3, 2023 by ZRPMs

[dicker]

COTR in my experience are:

- Highly professional

- Friendly and helpful

- Have interesting auction lots (Examples: NarrowShield Sov, Very impressive collection of high gradeMorgan dollars)

- Have a good variety of lots - everything from pre-33 quality US auction lots through to reasonably rare Sovs

My suggestion is to give Louise a call on their 0800 number if you are unsure about dealing with them - very very friendly helpful and approachable, and different from the usual auction houses in a good way.

[JamesH]

Lovely bunch at COTR. Have found them really easy to deal with and super helpful when I’ve sought them for specific items. Enjoy their auctions, having bought a couple of coins from the previously 

[CaptCaveMan]

I first went with COTR as they offer NGC Grading services as they are the TSF's Official Grading Partner; 

 

As @Chrisplym @westminstrel @dicker and @JamesH mention, I've also always found them professional, friendly and helpful - especially for a relative newb like myself.

Louise always explained the processes involved and keeps you up-to-date on status, so much so that they have been my go to with recent RM releases as they often receive a small allocation from their supplier and to-date all I've purchased via COTR have graded 70.

My first dabble at auction recently was also with COTR as I've been super happy with their services and with TSF memberships you also get tiered buyers and sellers discounts;

Yes, they have reserved prices, it's often worth reaching out after the auction to see if you can strike a deal.

imho loyalty works both ways.