Advice on selling some coins

[MikeKing]

I plan on selling about 30% of my collectioin of Busties and Colonials.

 

I submitted a request to BM for their november baltimore conventiona. Havne't heard anything back. I'm asking for 5% of the buyers fee and no sellers fee for roughly 20K in coins.

 

I am considering writing a similar proposal to ANR.

 

or

 

I can list them all on my ebay home page and raise the price enough to cover ebay fees, payapble by bank check or postal money order only, 3 day return privilege strictly adhered to, no qustions asked. The coins are all very nice, you can see most of them in my registry set.

 

Or, sell them directly to a dealer which I would think is the ultimte riposs.

 

 

If I sell on ebay, if you buy from me in person, I can drop the ebay fee for the seller providedyou do it through here. Only problem is with that, is if I don't sell all the coins, Ilose my bargaining positions with the auction firms.

 

So please help me out here

[123cents]

I think the Ebay route depends somewhat on how many coins you are trying to sell.

[michael]

i would figure out how much you wantfor the coins and then contact mark feld and see if he can sell them for you in 30 days or less and send you a check

 

this i think is the best way

 

secondly i would not sell thruogh auction i would sell by ebay and i am sure most will go then you can market the rest

 

bottom line figure what you want and vcall mark feld and work with him and see what he can market and sell for you

 

for the colonials i would call dave wnuck at coin raritiesonline tyhey iwll pay really strong for fresh colonials

 

good luck and keep us informed

 

[DirtyGoldMan]

Mike,

 

I do not know what your status is ATS, but you could list them on the BST for free (or have a forum friend list them for you with your contact information).

 

I also like the idea of consigning them to Mark Feld, if they are are the type of material that he sells.

[MAULEMALL]

If you don't need the money right now I would say Sell them your self on ebay...

 

If not I would contact Hoot or James and see what they could offer in assistance..

Them EACer's are a wierd but they are tight and they may know someone who is in the market for your coins.

[bsshog40]

I haven't really sold any coins to mention of. I don't think you would get what you want from a dealer. I think that if the coins are of good grade and have a demand, that an auction house would be the way to go. Ebay is ok if you price others to see what that market is and you have the time to list, describe, etc...

[MarkFeld]

Mike, I certainly might be wrong, but I'd be surprised if a major auction house would give you 105% of hammer on a $20,000 consignment. Of course the fee can vary, based upon the reserves (if applicable) which you set.

 

You mentioned that if you list them on Ebay that you'd

raise the price enough to cover ebay fees

- are you saying that Ebay fees would amount to more than the 10% that you're willing to pay an auction house, or did that mean something else?

[MikeKing]

I think the Ebay route depends somewhat on how many coins you are trying to sell. [/quote

\

22 coins, 7 of which are colonial. The rest are Busties. Maybe a 1/2 cent thrown in there and a Seated Dollar.

 

I have an ebay store which I've used to sell clocks that I just keep dishing out the $15 or so a month to keep. so I could post them all there.

 

Problem wth that is if I sell some of them, I decrease my bargaining power with an auction firm should I ultimately decide to go that route.

[MikeKing]

Mike, I certainly might be wrong, but I'd be surprised if a major auction house would give you 105% of hammer on a $20,000 consignment. Of course the fee can vary, based upon the reserves (if applicable) which you set.

 

You mentioned that if you list them on Ebay that you'd

raise the price enough to cover ebay fees

- are you saying that Ebay fees would amount to more than the 10% that you're willing to pay an auction house, or did that mean something else?

 

Mark, if I did it through an auction house, I'd set no reserve. I'd let the market decide what the coins are worth. That is why I was hoping for the 5%.

 

edited to add: If I sold with a fixed price through ebay, my thoughts were that I'd set the price at what I paid + whatever the ebay fee would be, so If someone were to contact me privately, I could drop that 5% or whatever it is.

[MarkFeld]

Mike, thanks for the explanation. If you are willing to sell with no reserves, I think you possibly can get 105% of hammer. That said, even though you didn't ask, I'd suggest setting at least minimal reserves to make sure you avoid any shocking and bad results, the likes of which can occur upon occasion, even in a major auction.

[TomB]

If you decide to sell through ebay and are not willing to accept PayPal then you are likely going to hurt yourself somewhat in terms of final sales price and lots that actually sell. Personally, I think Heritage generally offers the best auction venue, even though their images are often quite poor.

[MikeKing]

Well, I communicated with Dave Wnuck, and I'm really glad I did. I'll be meeting with him sometime next month and there you have it. Thanks everyone for all of your kind input, it's very much appreciated and helpful.

[WinstonWare]

Who’s Dave Wnuck? Which company is that?

[123cents]

Who’s Dave Wnuck? Which company is that?

 

Coin Rarities Online.

[DC Dawg]

Here's a different idea... I worked with a friend who landed on hard times to sell a beautiful set of CC Morgan dollars. He had a number of VAM varieties and all were MS62+ graded by the top 4 grading companies. It was a beautiful set! Since he did not think the coins would bring in the proper value on eBay, he wanted to sell them to a dealer or auction house. So I went with him to a Baltimore show to shop them around.

 

Aside from the entertainment we received from the jaw dropping over the collection, we received a heckova education--and had a lot of fun. On Friday, we just showed and listened. I had a clipboard with a printed inventory worksheet where I had kept notes on all offers. I was able to obtain a copy of the Greysheet so that we could better review the information. That night, we reviewed the offers and went back on Saturday to sell/negotiate.

 

I am not going to discuss whether it is right or wrong to negotiate (we did that once before), but we targeted our discussions with those showing the strongest interest. As a result, rather than selling them as a set, we broke up the set and sold the coins to a few of dealers and auction houses.

 

My friend was very happy with the results. The coins sold to dealers were paid for on the spot and he had some cash to work with. The coins consigned to auction houses gave him a small up-front payment, but he was able to get money later, after each sale. It helped his cash flow. I don't remember what the deal was, but I know it was a small percentage over 100-percent (102-percent?) with a reserve at Greysheet bid. One auction house cut its fee my friend paid by 30-percent. In the end, I think only one coin did bad, and that was a cleaned coin in an ANACS slab--I was told it was a common VAM variety, so the cleaning ruined the value (which I understand).

 

I had a lot of fun doing this. I also think my friend did very well. The fact that he was happy was satisfying and that it helped his situation was even better! I don't know if this is for you, but it's another thought!

 

A question to Mark Feld: Is this the type of work you do for your clients? I could say I would like to do this as my full-time job, but I am not sure I can duplicate my salary after 25-years in the computer industry!!

 

Scott

[WinstonWare]

Who’s Dave Wnuck? Which company is that?

 

Coin Rarities Online.

 

OOOOOOOOOOOOOhhhhhhhhhhh, "Museum Quality Coinage" Nice!