How scared will the Legends WANNABEE auction site be to Heritage,

[carson city]

Suoerior, Stacks, B & W etc. ?

 

Folks, you can't make this stuff up ! Check Legends site for the details, sit back and watch yet another train wreck.

 

I suspect we will be in for a large supply of CAC stickered coins to be dumped onto the bidders because the Market Makers don't want this junk either. Laura assures us that no "hanky panky" will exist, but she fails to comment on the apparent conflicts of interest.

 

This endeavor will certainly give a whole new spin to the phrase---summer fun !

 

Sell crazy someplace else, we're all stocked up here------Jack Nicholson

[PerryHall]

Why would someone use a new wannabe auction company when there are so many well established auction firms? I assume people want to get the most for their coins. I asked this question ATS and no one gave me an answer.

[carson city]

Correct, will the Fees be smaller, the customer service be better or the Catalogues and/or descriptions be more complete ?

 

 

[World Colonial]

I've only heard about this new auction from this board but I would not expect it to reduce business at a major firm such as Heritage substantially. My understanding is that they handle most expensive coins(some very expensive) and if so, most likely will primarily be a niche player. In addition to the big three of Heritage, Stacks and Superior (with Bowers & Merena maybe a fourth), there are several other smaller firms such as DLRC. I see them as similar to that.

[BillJones]

Don’t kid yourself.

 

When it comes to auction firms Heritage is like an elephant in rowboat. They have more influence than the next two auction houses combined. The strictly on-line sites are like ants in comparison.

 

[Mirrored Morgan]

Thought Laura was only selling to the Big Fish these days? This must be her widget program that will get rid of her coins that are not worthy of the CAC sticker. I wonder how long this wannabee auction house will last?

[Houston Investor]

Good point (makes sense with her marketing direction) but her auctions in the past have not been entirely low end material. I have purchased coins in these auctions which I have subsequently resubmitted and then got a higher grade. This is two PCGS coins in old rattler holders, cracked out, and then dipped. Other purchases were solid for the grade and have all been sold to my retail clients.

 

I think a lot of it will depend on the source of the coins - her inventory or clients. I would speculate many of the coins in her past auctions were "trade ins" from clients who believed her propoganda about widgets (our friends ATS?) which may have been too inexpensive or unsuitable for her to inventory. Some guy trades in his coins (say at bluesheet) for some of her expensive stuff as he believes thats where he needs to be. She then simply blows out his coin (s) in her auction (wasan't Legends on ebay at some time - why did they leave?), probably for more money. And if avoiding those ebay and paypal fees, what a sweet deal. Buyers like me come along and conservatively bid (using our Teletrade skills) getting some good deals. The auction is then shut down for lack of high bids (where it remains today). This is just speculation of course but show me a better reason.

 

Heritage is a big auction house - It would take a lot for an auction house to put a dent in their business.

[MarkFeld]

Thought Laura was only selling to the Big Fish these days? This must be her widget program that will get rid of her coins that are not worthy of the CAC sticker. I wonder how long this wannabee auction house will last?

Legend doesn't sell only to "big fish" and I bet that the new auction business has nothing to do with any "widget program that will get rid of her coins that are not worthy of the CAC sticker."

 

.....In addition to the big three of Heritage, Stacks and Superior (with Bowers & Merena maybe a fourth), there are several other smaller firms such as DLRC. I see them as similar to that.

I think Bowers is easily more of a factor than Superior, these days. Possibly the same could be said for the Goldebrg's.

[carson city]

We are so happy MFeld hasn't left us for ATS. You're too much fun here ! We love your Spin.

[James_OldeTowne]

Is there a link to this alleged new auction service? I don't care to go looking for it...

[RGT]

Is there a link to this alleged new auction service? I don't care to go looking for it...

 

TND's post