What are the advantages in a dealer representing you...

[koincollector]

...at an auction where they take books bids? (Other than the very important fact that he can screen coins for you?)

 

I don't see any OTHER advantages and would lose an additional 10%. The book bids anyway would act the same way as the representative's bids (even the spending limits is taken care of).

 

I have never attended any live auction and hence do not know the dynamics of the same. Have only placed book bids and was not very successful in the same (50%) and the most desirable coins have always gone past me!

 

Any inputs would be highly appreciated.

[gmarguli]

To make sure you're not bidding against the buffet table. There are a couple of auction houses that have a reputation of bidding book bids against inanimate objects.

 

For some foreign auctions the dealers get lower buyers fees than regular bidders, so it's possible to have that savings passed on to you.

[TomB]

Aside from what has been mentioned, most folks do not realize that accepting bids is up to the discretion of the auctioneer. Therefore, in the event of a tie bid, even if you have bid first via some absentee method, the auctioneer may award the coin to the floor bidder. Additionally, an auctioneer may let a floor bidder know that this is the maximum of the book bid, therefore stimulating one more bid from the floor. This happens quite often.

[IGWT]

Additionally, an auctioneer may let a floor bidder know that this is the maximum of the book bid, therefore stimulating one more bid from the floor. This happens quite often.

 

And a cut bid at that.

[Yarm]

I've only had this done for me a few times (for 5%) but having my coins brought back immediately was a nice plus.

[koincollector]

I was under the impression that the auction houses were honorable atleast in this respect! Good tips from Greg and Tom. I would try out the representation option for the next couple of auctions to check it out! Thanks for the inputs.

[James_OldeTowne]

You don't have to fly to the show, get a hotel room for two days, pay for dinner out, pay for cab or rental car fees, pay for show admission, spend hours and hours looking at coins, pay for shipping the coins back home, and pay for mistakes (if he's a good dealer).

 

For high-end coins, it can be a good investment.

 

James