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Auction company "free" or discount grading option

Started by Nutmeg Coin,

16 posts in this topic

Nutmeg Coin

Nutmeg Coin

Posted
Posted

I thought I would post this topic which is relevant for those who are thinking of taking advantage of "free" or discount grading programs at auction companies.

 

In my experience, "Great Collections" offers much faster grading time and flexibity on options than others I have tried. Usually the coins come back within a month even if they are $50-$100 coins. Teletrade often takes two to three months to get the coins into auction. I understand other auction companies also have free grading like Stack/Bowers, but that is only for high end rarities.

 

To get reasonable market value you need to have a strong market for your coins that have been properly graded. In my experience GC does that well. Teletrade has a better time-tested format in many respects and may allow the customer to get near bid for nice collector coins. I would like to see a market-driven solution to this with NGC for example offering accelerated grading times to auction companies in a win/win format.

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gmarguli

gmarguli

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I would like to see a market-driven solution to this with NGC for example offering accelerated grading times to auction companies in a win/win format.

 

Sounds like what you are asking for already exists. The TPGs have deals with the major auction companies. The TPG will grade the coins as fast as the auction company wants. It's all a matter of quantity and price.

 

 

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MarkFeld

MarkFeld

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Does this guy work for Great Collections?

 

I don't think so. I believe he's trying to be helpful, and that some forum members will be appreciative of that, even if you (apparently) aren't.

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gmarguli

gmarguli

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With Teletrade it takes two to three months to get coins graded; I was just suggesting that there could be a solution to shorten that time.

 

There is. TeleTrade contacts the TPG and they agree on a time frame and rate that works for both of them. TeleTrade must be happy with this current arrangement or they'd change it.

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e1cnr

e1cnr

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With Teletrade it takes two to three months to get coins graded; I was just suggesting that there could be a solution to shorten that time.

 

There is. TeleTrade contacts the TPG and they agree on a time frame and rate that works for both of them. TeleTrade must be happy with this current arrangement or they'd change it.

 

Are you sure? A few years ago I sent some coins and TT had the PCGS coins back in 40 days and listed for auction so that they were in auction w/i 2 months of me sending - at the same time a NGC group took 6 months.

:Last fall, a PCGS group took 4 months

 

I have no idea how long TT sat on them before and after submission, and realize they are much closer to Newport than Sarasota.

 

 

So do you feel TT has different 'speeds' depending on consignor and/or quality? I have been leaving estimated value blank lately but maybe I should start putting in again on the high estimate.

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Nutmeg Coin

Nutmeg Coin

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Good points. First time I have ever seen another TT consignor chime in on their experience with this program. Look, it wears people down to wait inordinate amounts of time, I wonder how many people have given up and just let their lots sell without reserve after waiting so long?....

 

Fortunately Great Collections is creating a market driven solution to this problem. My lots come back from grading quickly and then get put in auction soon thereafter. Someone wanted to jump all over me as a GC employee or something. Ian Russell is doing the coin community a big service, advertising is costing him over $10k a week! I hope he and his wife do well and start getting buyout offers! A company like Heritage would love to have a platform like his to buy and sell in more efficient ways.

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MJ

MJ

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Posted
Does this guy work for Great Collections?

 

I don't think so. I believe he's trying to be helpful, and that some forum members will be appreciative of that, even if you (apparently) aren't.

 

Still feel that way? MJ

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Nutmeg Coin

Nutmeg Coin

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No, but I am a happy customer. I have submitted to many auction companies, GC is doing a more efficient job.

 

False accusations--see Deuteronomy 19:15.

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physics-fan3.14

physics-fan3.14

Posted
Posted
Does this guy work for Great Collections?

 

I don't think so. I believe he's trying to be helpful, and that some forum members will be appreciative of that, even if you (apparently) aren't.

 

Still feel that way? MJ

 

I see absolutely nothing wrong with a happy and satisfied customer letting us know that a company is doing a good job. I haven't used GC before, but that's only because I haven't seen anything I need on there yet.

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MJ

MJ

Posted
Posted
Does this guy work for Great Collections?

 

I don't think so. I believe he's trying to be helpful, and that some forum members will be appreciative of that, even if you (apparently) aren't.

 

Still feel that way? MJ

 

I see absolutely nothing wrong with a happy and satisfied customer letting us know that a company is doing a good job. I haven't used GC before, but that's only because I haven't seen anything I need on there yet.

 

That was directed to Mark. He doesn't have to answer. I was curious. I like Ian a lot but this thread reads as an infomercial MJ

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Nutmeg Coin

Nutmeg Coin

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Teletrade is now offering expedited grading for consignors. It looks like they are offering other incentives now, check out their site.

 

I am trying to make money buying/selling coins in an ethical and 100% transparent way. I buy from dealers who do not sell quality below market price, unless the coins are raw where you have to take a chance the coins will grade well and quickly enough so that you can turn your money around in two months or so. With Teletrade it takes an extra month at least for consignors. I could always try to sell at shows and forgo the auction option.

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RWB

RWB

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False accusations--see Deuteronomy 19:15.

 

Deutewhatomy? Is that near "Truth or Consequences" New Mexico?

 

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