Auctions sites

[Sparky99]

Hi All,

Just looking into auction sites,

What are the common, best, safest?

Are there a lot of fakes?

What are the risks over other sources?

Would like to hear your experiences if possible!

TIA 🫡

[AOB]

@CoinsOfTheRealmAuctions are TSF member and great business to deal with, dealt with Louise many times.

[margin]

I like the Coinery (more fun with an actual auctioneer), coin cabinet (good starting prices) and coins of the realm

[dicker]

It depends on what you are looking to buy, at which price point and your tolerance for premiums.

Some auction organisations are MUCH better than others….

[CoinsOfTheRealmAuctions]

@Sparky99 Do take a look at our next auction 0% Buyers Premium - pay what you bid with only postage to pay extra!

Any questions please don't hesitate to ask. 0800 169 1066

 

Regards

 

Louise

[Petra]

The ones mentioned are excellent, if you type in ‘saleroom’ and take a look there are literally hundreds of auction sites there. Some have specialist coin auctions, others coins are part of an auction. You just need to be aware of auction fees and postage costs🤔

[Sparky99]

Thank you all for your responses, I’ll look into those 👍

[cjbcomm]

12 hours ago, Petra said:

The ones mentioned are excellent, if you type in ‘saleroom’ and take a look there are literally hundreds of auction sites there. Some have specialist coin auctions, others coins are part of an auction. You just need to be aware of auction fees and postage costs🤔

Agreed. Some of the fees are astronomical. All fine as a buyer if you factor them into your bids.

Bizarre how people consign coins to these sales as they'll receive way under the coins value as a sale price

[HowardW]

Hi from a new member!  Having bought gold and silver of all sorts on eBay successfully for yours, I've just started dipping my toes into 'real' auctions (with a physical saleroom not online only) so maybe can add some insight here, assuming that you are trying to get metal in at or below spot:

Buyer's premium (added to the hammer price) is 24% minimum (20%+VAT) up to 28.2% most I've seen. So if you want a bullion sov for £430, you are going to bid max £340

No real value in using Saleroom or the other similar auction site - you have to pay 2 or 3% more buyer's premium (makes a massive difference). Easiest is just to register with the auction house and leave an absentee bid (no temptation to bid up then), paying the minimum buyer's premium

Only bid if you can collect - their postage charges are a robbery (£20 to send one half sov) ...and allow some value for your time and petrol (I got a half sovereign for £170 , plus 26.4% = £214.88 a couple of weeks ago (spot was £220) but it was an hour each way to collect it. Fortunately I had another win nearby to collect too but still...I've learned

BIds go up in fixed increments, unlike eBay ...for sovs £320,£340,£360 etc...which can give the chance for a bargain if the next increment takes the all-in price well above spot.

General auctions/jewellery etc seem to be better than specialist coin auctions - less chance of a dealer/stacker who will pay a bit more

All that said, I recommend having a go at your local auction houses... first auction I got a gold 50p for £650 + 24% (and that was when the spot was higher) though lost the other one which went for £680... half sov at spot -3pct..some spoons for scrapping and tomorrow will collect a 550g silver plate (£200 + 28.2% and didn't even reach my maximum bid)

 

Good luck everyone!  (Once I've found my way around here, I'll be looking to sell some maples and trade UK and CI commems for straight sovs and britannias to simplify life... also looking for someone who wants pre1947 silver)

[Petra]

17 hours ago, HowardW said:

Hi from a new member!  Having bought gold and silver of all sorts on eBay successfully for yours, I've just started dipping my toes into 'real' auctions (with a physical saleroom not online only) so maybe can add some insight here, assuming that you are trying to get metal in at or below spot:

Buyer's premium (added to the hammer price) is 24% minimum (20%+VAT) up to 28.2% most I've seen. So if you want a bullion sov for £430, you are going to bid max £340

No real value in using Saleroom or the other similar auction site - you have to pay 2 or 3% more buyer's premium (makes a massive difference). Easiest is just to register with the auction house and leave an absentee bid (no temptation to bid up then), paying the minimum buyer's premium

Only bid if you can collect - their postage charges are a robbery (£20 to send one half sov) ...and allow some value for your time and petrol (I got a half sovereign for £170 , plus 26.4% = £214.88 a couple of weeks ago (spot was £220) but it was an hour each way to collect it. Fortunately I had another win nearby to collect too but still...I've learned

BIds go up in fixed increments, unlike eBay ...for sovs £320,£340,£360 etc...which can give the chance for a bargain if the next increment takes the all-in price well above spot.

General auctions/jewellery etc seem to be better than specialist coin auctions - less chance of a dealer/stacker who will pay a bit more

All that said, I recommend having a go at your local auction houses... first auction I got a gold 50p for £650 + 24% (and that was when the spot was higher) though lost the other one which went for £680... half sov at spot -3pct..some spoons for scrapping and tomorrow will collect a 550g silver plate (£200 + 28.2% and didn't even reach my maximum bid)

 

Good luck everyone!  (Once I've found my way around here, I'll be looking to sell some maples and trade UK and CI commems for straight sovs and britannias to simplify life... also looking for someone who wants pre1947 silver)

Seeing where you are from I no doubt have been to some of the same auction houses as you. Actually going to an auction is a good day out, plus the anticipation of possibly bringing something nice home. Just got to remember not to get too carried away and to have the maths worked out before bidding 🤔😮