I think huge auctions detract from the "buzz" of a typical coin show

[James_OldeTowne]

Disregard, for a moment, whether or not you enjoy huge auctions associated with coin shows.

 

I just wonder whether or not you believe that the money spent at the auction has a substantial impact on what is left to be spent on the floor.

 

Opinions, please?

[jpcienkus]

I would say yes it does. The Heritage Auction had some incredible Morgans for sale during the Central States Show. I know I would have minimized my show purchases until my auction items were completed.

[physics-fan3.14]

Absolutely, the money spent on an auction draws away from the money spent on the bourse.

 

However, the flip side of that is - if there are strong sales and a lot of positive action at the auction, everybody knows that the market is strong and it can serve to stimulate the buzz on the bourse. I've seen that happen at FUN before - the Heritage auction from the previous night had a lot of really strong sales, and everybody was in a good mood and there was a lot of buying and selling going on the next day.

[PerryHall]

Yup. Most of us don't have unlimited funds and it stands to reason auctions siphon off money from the bourse floor.

[Walkerfan]

I'm gonna spend my money where I find what I need whether it is at the auction or the bourse. Typically, more of it is found at the auction rather than on the bourse.

[BillJones]

Auctions do siphon money off the bourse floor. There can be no doubt about that. The thing that gets me is that people at an auction will pay more for a coin there than they will for a very similar item that can be found on the bourse floor.

 

I guess people get so great buys at auctions, but I've seldom been that fortunate. The one time I did get a lot for a good deal less than my maximum bid, the auction house claimed they missed a "snail mail" bid during the bidding and raised the hammer price by $2,500 hours after the lot had closed. The coin was nice, and I had been looking for it for a while so I paid up, but I still felt like I had been used.

 

[WoodenJefferson]

Some collectors seem to have the need to compete and where better than a live auction? They are like a kid in a candy store...whipping each another into a frothy frenzy.

 

Besides, there is always trickle down on the floor from those who fail to out bid the winners, so I say the auctions are a good thing.

[jpcienkus]

Some collectors seem to have the need to compete and where better than a live auction? They are like a kid in a candy store...whipping each another into a frothy frenzy.

 

Besides, there is always trickle down on the floor from those who fail to out bid the winners, so I say the auctions are a good thing.

 

Good point. The Heritage auction was 4 days though. That might have played a part, but who really knows.

[michael]

james

 

 

the money spent at the auction has a substantial impact on what is left to be spent on the floor.---- TRUE

 

 

but

 

since coin shows are all about the money for the powers that be; auctions will always be a necessary evil