Does you club have an auction?

[CSdot]

If your club has an auction, what is the average price of the offerings? Max price? Do you ever buy anything?

 

The auction items at local club go for an average of $40, with a max of $100. We mentioned having higher dollar items, so hopefully we will start seeing some items in the $100-500 range.

[Conder101]

I attend four local clubs. One has no auction. One has a small auction, about 20 items with values ranging from $2 - $40. The third one has a medium sized auction, 40 - 50 items with values in the $5 - $50 range. The last club has a large auction,120 - 200 items, with values ranging from $5 - $180. I rarely buy anything unless something unusual turns up.

[Kerouac-migration]

My last club met once a month, we had up to around 10k ea. value items. The most I spent was 2,200 on a whole lot of goodies. The good old days.

[Kurtdog]

My kid is in a club and they network with other clubs. Believe it or not, they do a lot of swapping.

[illini420]

At the end of each of our meetings, our club has an auction. Items start as low as $1 each, but I would say most are in the $10-$50 range. We sometimes get some higher dollar coins, including gold coins, and they can go well over $500. Our club (Glendale Coin Club) charges no buyer's or seller's premiums for our auctions, but other local clubs I belong to do charge. One club charges $1 to each seller (which covers up to 5 items). Another club charges a 5% seller's premium.

 

I buy and sell coins every month at the club auction. Great way to move some coins and to pick up a few new deals. But mostly, I just like to support the clubs and help other collectors get new coins. Occasionally, I make money on what I sell through the club auctions, but most of the time I'm just breaking even at best which is fine

 

 

[Nutmeg Coin]

The Danbury club has monthly auctions and they are a good way to encourage real interest in collecting. The youth can bid without competition, this is to encourage younger members. In terms of real intellectual rigor many raw coins are offered that are problem coins or over-graded. I'm not sure if there is a solution to that as I see club members thinking they are bidding on coins at levels that they can look up on Greysheet. Unfortunately, Greysheet is based on properly graded coins. And CW Trends is based on retail pricing. Personally I doubt I have ever ripped off a customer, but some who offer coins at hypothetical grades are engaging in misrepresentation. Hopefully they get second or third opinions.

[CSdot]

We have the rule that youths can bid without competition as well. My kids like to bid on foreign coins, and usually there are one or two plastic sheet with foreign coins for under $5.

 

Our auctions take place after the meeting and last for around 30 minute. Members can auction up to 10 items per auction. While sellers have to "buy" auction cards (about the size of an index card where the seller lists the price and coin description), they only cost 10 cent each.

 

I haven't purchased anything in at least a year, it seems that most of my purchases were items like late 50s/early 60s US Mint sets, or raw Peace and Morgan Dollars.

 

One can usually find currency, proof sets, junk coins, raw coins, rolls, books and certified coins at our auctions, with most items costing less than $100.

[123cents]

Our club auction is at the end of our meeting. Most items sell for $5.00 to $50.00.