HA Auction selling Tips ? 1 1

[LDH Coins & Memorabilia]

Hello Coin lovers, What is the opinion of the panel regarding : selling at HA and selling coins that have made their "hot list" using these additional features ??

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[EagleRJO]

I can't comment on selling coins there, but as a buyer I had been trying HA out for a while, but recently gave up. My hammer bids were fairly lower generally speaking relative to FMV using  RB, Coin World  or NGC/PCGS guide prices.

I mean fairly lower considering I adjusted my desired max hammer bids for HA's 20% BP, which is 83% of FMV or total of what I was willing to pay in general. I'm sure many others do the same. I understand they charge a 5% to 10% sellers fee on top of that which further reduces the bottom line for a seller.

I have been sticking with bidding at Great Collections which has a better selection at least for the coins I am interested in, and they have a reduced BP of 10% which significantly bumps up my hammer bids. I don't know how they fall with seller fees which like HA are tacked on or deducted also.

Just my 2 nickels

[LDH Coins & Memorabilia]

CORRECTION: Sorry for the Newbie mistake ; those fees for selling (that I first posted above) are from GC, not HA. I have been buying and selling on GC, but have only purchased from HA. I am just learning HA but I like GC better.

EagleRJO : Your assessment is spot on in terms of hammer price and FMV. GC waives seller's fee for coins sold over 1,000. I have not determined selling fees on HA. I agree with sticking with GC but I monitor HA for coins wanted but I bid more very cautiously than HA due to that hammer price that you were speaking of  

[GoldFinger1969]

HA and GC charge both the buyer AND seller ?? 

Edited July 29, 2022 by GoldFinger1969

[EagleRJO]

Yea, GC seems to have better fees in general, and it seems pretty well run.  That's nice that they waive the seller fees over $1k which a lot of desirable and less common coins probably go for, as well as gold eagles and double eagles.  I posted another thread about finding other auction services like GC, particularly for raw coins which I prefer and which it seems GC doesn't carry, but so far nothing similar. Is the seller fee generally 5% on GC if not waived?

Also, do you buy/sell on any other platforms, and how about raw coins (forget eBay )?

[GoldFinger1969]

On 7/28/2022 at 10:35 PM, EagleRJO said:

Yea, GC seems to have better fees in general, and it seems pretty well run.  That's nice that they waive the seller fees over $1k which a lot of desirable and less common coins probably go for, as well as gold eagles and double eagles.  I posted another thread about finding other auction services like GC, particularly for raw coins which I prefer and which it seems GC doesn't carry, but so far nothing similar. Is the seller fee generally 5% on GC if not waived?

Also, do you buy/sell on any other platforms, and how about raw coins (forget eBay )?

I was unaware of the seller fees since I've only been a buyer.  But if sellers are ALSO paying a commission, that RAISES the price to the buyers.

 

[EagleRJO]

On 7/28/2022 at 10:35 PM, GoldFinger1969 said:

HA and GC charge both the buyer AND seller ?? 

I just found out that HA does, which is usually like a 5% to 10% seller fee on top of the 20% BP.  With a 10% seller fee and hammer bids at 0.83 x FMV (1/1.20 for BP adjustment), I think it would leave the seller with like 75% of FMV ... offff.  I don't know how much GC charges as a seller fee below $1k, but the 10% BP with GC is much more reasonable.

[EagleRJO]

On 7/28/2022 at 10:40 PM, GoldFinger1969 said:

I was unaware of the seller fees since I've only been a buyer.  But if sellers are ALSO paying a commission, that RAISES the price to the buyers.

My understanding is they deduct that from the hammer bid, and also collect 20% from the buyer as a BP direct to them.  I don't know how it works if it doesn't sell, because you know at least HA is going to get their pound of flesh.  

[World Colonial]

On 7/28/2022 at 10:40 PM, GoldFinger1969 said:

I was unaware of the seller fees since I've only been a buyer.  But if sellers are ALSO paying a commission, that RAISES the price to the buyers.

 

(Most) Everything is negotiable in a consignment.  I don't think it takes that large of a consignment to get the seller's fee to 0%.  As I presume you know, larger consignors can get over 100% of hammer.