How to Sell CAC Coins for Top Dollar

CACfan

Consign them to Great Collections or David Lawrence with a reserve bid and zero buyback fees (there may be a $5,000 minimum to receive these perks but you will need to contact the firms for details). You will thus net at least your minimum requested (the hammer price) and might garner even more. You never know what will happen when two billionaires get into a bidding war.

Both are highly reputable companies. Each has tens of thousands of loyal customers. Both will post good photographs, unlike certain other auction companies. And treat you fairly, unlike certain other auction companies.

It's that simple. No worries, no losses, no aggravation. Be patient because it may take a while to sell your coins. But the end result is definitely worth it.

MarkFeld

You will get your minimum hoped-for amount IF the coin meets its reserve. If it doesn’t, you’ve got a coin that can become stale and undesirable to those who are aware that it didn’t sell.

While some consignors are nervous consigning coins at no reserve, reserves tend to diminish bidder interest, enthusiasm and bids. On the other hand, unreserved coins attract far more interest and bidding activity, often resulting in higher, not lower, prices.

Reserves can also give potential buyers the impression that the reserve amount is an aggressive high price, beyond which it would be unwise to bid. But bidders might bid much higher than that same amount if it’s not set as a reserve.

I know of numerous multi-million dollar consignments from highly knowledgeable collectors, which have been sold at no reserve. And overall, those sales have brought very strong prices, with record prices in numerous instances.

Legend

ah hem, don't forget Legend Auctions, we get monster prices.

EVERYTHING Feld said is true.

You don't have to have a multimillion dollar consignment to be successful. A good auction company will talk to you and work with you-not just take your coins and out them in an internet only sale. I think the threads originator may have had good luck once. Overall, it does not work that way.

MeantToBeSpent

GC does have listing fees but they are reasonable.

MarkFeld said:

... reserves tend to diminish bidder interest, enthusiasm and bids. On the other hand, unreserved coins attract far more interest and bidding activity, often resulting in higher, not lower, prices.

I'd like to see some actual statistical evidence. I don't tend to believe this. Even though I absolutely love Mark, I think all the auction firms might have some inherent bias on just getting as many coins sold irregardless of the price.

I think in terms of reserve/no reserve it depends a lot on the coin or series in question. Some markets are robust and you can generally feel good about getting a fair price and no reserve has very little downside. Some series are thinly traded. Also is one selling a couple coins or an entire set all at once? A good example of a thinly traded series is high grade clad dimes. I wouldn't ever sell a lone clad coin or two on GC no reserve (I've got burned trying), but if one had an entire set to consign (as in the recently sold Erasmus Hall collection) it drew a lot of interest and some pretty strong prices.

MarkFeld

MeantToBeSpent said:

GC does have listing fees but they are reasonable.

MarkFeld said:

... reserves tend to diminish bidder interest, enthusiasm and bids. On the other hand, unreserved coins attract far more interest and bidding activity, often resulting in higher, not lower, prices.

I'd like to see some actual statistical evidence. I don't tend to believe this. Even though I absolutely love Mark, I think all the auction firms might have some inherent bias on just getting as many coins sold irregardless of the price.

I think in terms of reserve/no reserve it depends a lot on the coin or series in question. Some markets are robust and you can generally feel good about getting a fair price and no reserve has very little downside. Some series are thinly traded. Also is one selling a couple coins or an entire set all at once? A good example of a thinly traded series is high grade clad dimes. I wouldn't ever sell a lone clad coin or two on GC no reserve (I've got burned trying), but if one had an entire set to consign (as in the recently sold Erasmus Hall collection) it drew a lot of interest and some pretty strong prices.

I don’t disagree that auction firms might have some inherent bias and skepticism can be healthy. That doesn’t change what I and others have seen and experienced, however. I’m confident that if you talk to and/or read reports from enough bidders and sellers, the consensus will confirm what I posted.

CACfan

I am not talking about multi-million dollar consignments that took decades to assemble. I am referring to the $5,000 to $250,000 or so consignments that most blue collar folks have for which they had overpaid at full retail.

Not everyone is a multimillionaire who can afford to tie up huge sums in coins for long periods. Nor is every potential seller sophisticated about how to buy coins at or near wholesale levels. They can get buried at full retail.

One large auction firm would not allow me to send a $500,000 consignment without first listing the coins and getting approval in advance for my zero-buyback reserves. That precaution is understandable but way too much work for someone as lazy as I am. If I need to go to that much trouble, I will list the coins myself on my company's websites and get the full prices needed, which I did to some extent (I have probably sold more than half of that group of unusual coins since).

I repeat, for most folks, Great Collections and David Lawrence are the way to go because you cannot beat zero-buyback reserves, which guarantees that you can break even if you paid full retail. GC is now number three in sales volume and fast approaching number two. There must be a reason(s).

Consigning coins with no reserve is like playing cards in Vegas. Of course auction firms encourage it because they want their commissions no matter what.

Notice that the two other comments were posted by representatives of their respective auction houses. I have no horse in this race. I am just trying to help people who paid full retail for their coins and want to bail out. Or anyone else who just wants to get a decent price for every single item.

The two recommended companies have an excellent track record for getting top dollar for ANY coins, not just the cream. Almost everything will eventually sell, especially CAC coins, provided that you are not seeking Rolls-Royce prices for mere Ford Focuses.

CACfan

MarkFeld,

I find it interesting that you have criticized several of my comments. Yet, why do I own a successful retail coin business yet you work for someone else for blue collar wages (I know exactly how much you guys earn, as per ex-employees)? I am not in any way condemning you because you do work for a living (I only chastise welfare-mooching freeloaders). But if you are so much smarter than I am and have all of the answers, why am I earning far more than you are?

CACfan

MeantToBeSpent said:

GC does have listing fees but they are reasonable.

MarkFeld said:

... reserves tend to diminish bidder interest, enthusiasm and bids. On the other hand, unreserved coins attract far more interest and bidding activity, often resulting in higher, not lower, prices.

I'd like to see some actual statistical evidence. I don't tend to believe this. Even though I absolutely love Mark, I think all the auction firms might have some inherent bias on just getting as many coins sold irregardless of the price.

I think in terms of reserve/no reserve it depends a lot on the coin or series in question. Some markets are robust and you can generally feel good about getting a fair price and no reserve has very little downside. Some series are thinly traded. Also is one selling a couple coins or an entire set all at once? A good example of a thinly traded series is high grade clad dimes. I wouldn't ever sell a lone clad coin or two on GC no reserve (I've got burned trying), but if one had an entire set to consign (as in the recently sold Erasmus Hall collection) it drew a lot of interest and some pretty strong prices.

It's called free advertising for his firm.

Seth_WitterCoin

CACfan said:

Consign them to Great Collections or David Lawrence with a reserve bid and zero buyback fees (there may be a $5,000 minimum to receive these perks but you will need to contact the firms for details). You will thus net at least your minimum requested (the hammer price) and might garner even more. You never know what will happen when two billionaires get into a bidding war.

Both are highly reputable companies. Each has tens of thousands of loyal customers. Both will post good photographs, unlike certain other auction companies. And treat you fairly, unlike certain other auction companies.

It's that simple. No worries, no losses, no aggravation. Be patient because it may take a while to sell your coins. But the end result is definitely worth it.

While I am a big fan of both GC and David Lawrence, I would certainly would disagree with many statements, or "absolutes" the OP makes. MarkFeld does a great job of nailing it, as does Laura of Legend.

I truly believe that every coin and every situation is different. Its tough to make blanket statements about selling coins in a specific manner that will yield "top dollar".

CACfan

Legend said:

ah hem, don't forget Legend Auctions, we get monster prices.

EVERYTHING Feld said is true.

You don't have to have a multimillion dollar consignment to be successful. A good auction company will talk to you and work with you-not just take your coins and out them in an internet only sale. I think the threads originator may have had good luck once. Overall, it does not work that way.

No-reserve consignments are a crapshoot. Many of my customers have horror stories about how they lost their shirts on them.

Catbert

CACfan said:

MarkFeld,

I find it interesting that you have criticized several of my comments. Yet, why do I own a successful retail coin business yet you work for someone else for blue collar wages (I know exactly how much you guys earn, as per ex-employees)? I am not in any way condemning you because you do work for a living (I only chastise welfare-mooching freeloaders). But if you are so much smarter than I am and have all of the answers, why am I earning far more than you are?

Petty comment and uncalled for.

MarkFeld

CACfan said:

MarkFeld,

I find it interesting that you have criticized several of my comments. Yet, why do I own a successful retail coin business yet you work for someone else for blue collar wages (I know exactly how much you guys earn, as per ex-employees)? I am not in any way condemning you because you do work for a living (I only chastise welfare-mooching freeloaders). But if you are so much smarter than I am and have all of the answers, why am I earning far more than you are?

Previously, I criticized your comments when you stated incorrect hearsay as fact. In this thread, based on my experience, I offered a different viewpoint from yours regarding reserve bids. You chose to take that as a criticism.

I didn’t say that I was smarter than you or that I have all the answers.

You have no idea what my wages are and they’re entirely irrelevant. I work for Heritage because I choose to and I’ve worked for some other excellent companies during my career, as well.

MarkFeld

CACfan said:

I am not talking about multi-million dollar consignments that took decades to assemble. I am referring to the $5,000 to $250,000 or so consignments that most blue collar folks have for which they had overpaid at full retail.

Not everyone is a multimillionaire who can afford to tie up huge sums in coins for long periods. Nor is every potential seller sophisticated about how to buy coins at or near wholesale levels. They can get buried at full retail.

One large auction firm would not allow me to send a $500,000 consignment without first listing the coins and getting approval in advance for my zero-buyback reserves. That precaution is understandable but way too much work for someone as lazy as I am. If I need to go to that much trouble, I will list the coins myself on my company's websites and get the full prices needed, which I did to some extent (I have probably sold more than half of that group of unusual coins since).

I repeat, for most folks, Great Collections and David Lawrence are the way to go because you cannot beat zero-buyback reserves, which guarantees that you can break even if you paid full retail. GC is now number three in sales volume and fast approaching number two. There must be a reason(s).

Consigning coins with no reserve is like playing cards in Vegas. Of course auction firms encourage it because they want their commissions no matter what.

Notice that the two other comments were posted by representatives of their respective auction houses. I have no horse in this race. I am just trying to help people who paid full retail for their coins and want to bail out. Or anyone else who just wants to get a decent price for every single item.

The two recommended companies have an excellent track record for getting top dollar for ANY coins, not just the cream. Almost everything will eventually sell, especially CAC coins, provided that you are not seeking Rolls-Royce prices for mere Ford Focuses.

A consignor need not have a six or seven figure consignment to enjoy good results from no reserve auctions. And if someone has buried himself in a coin, he’s unlikely to get his money back in either an unreserved or a reserved sale.

Yes, representatives from two auction houses have responded in this thread. We each have a substantial amount of experience, both in buying in auctions and working with consignors.

CACfan

MarkFeld said:

CACfan said:

I am not talking about multi-million dollar consignments that took decades to assemble. I am referring to the $5,000 to $250,000 or so consignments that most blue collar folks have for which they had overpaid at full retail.

Not everyone is a multimillionaire who can afford to tie up huge sums in coins for long periods. Nor is every potential seller sophisticated about how to buy coins at or near wholesale levels. They can get buried at full retail.

One large auction firm would not allow me to send a $500,000 consignment without first listing the coins and getting approval in advance for my zero-buyback reserves. That precaution is understandable but way too much work for someone as lazy as I am. If I need to go to that much trouble, I will list the coins myself on my company's websites and get the full prices needed, which I did to some extent (I have probably sold more than half of that group of unusual coins since).

I repeat, for most folks, Great Collections and David Lawrence are the way to go because you cannot beat zero-buyback reserves, which guarantees that you can break even if you paid full retail. GC is now number three in sales volume and fast approaching number two. There must be a reason(s).

Consigning coins with no reserve is like playing cards in Vegas. Of course auction firms encourage it because they want their commissions no matter what.

Notice that the two other comments were posted by representatives of their respective auction houses. I have no horse in this race. I am just trying to help people who paid full retail for their coins and want to bail out. Or anyone else who just wants to get a decent price for every single item.

The two recommended companies have an excellent track record for getting top dollar for ANY coins, not just the cream. Almost everything will eventually sell, especially CAC coins, provided that you are not seeking Rolls-Royce prices for mere Ford Focuses.

A consignor need not have a six or seven figure consignment to enjoy good results from no reserve auctions. And if someone has buried himself in a coin, he’s unlikely to get his money back in either an unreserved or a reserved sale.

Yes, representatives from two auction houses have responded in this thread. We each have a substantial amount of experience, both in buying in auctions and working with consignors.

Show us a third-party study that proves it.

CACfan

Excuse me for disagreeing with you. You offer no evidence whatsoever that zero-reserve auctions are more lucrative for consignors than zero-buyback reserve auctions. Obviously, you are biased because your very job is to garner zero-reserve consignments, LOL.

My own experiences refute your claims, as do those of numerous yelpers and Google Review posters. And my own customers!

CACfan

Catbert said:

CACfan said:

MarkFeld,

I find it interesting that you have criticized several of my comments. Yet, why do I own a successful retail coin business yet you work for someone else for blue collar wages (I know exactly how much you guys earn, as per ex-employees)? I am not in any way condemning you because you do work for a living (I only chastise welfare-mooching freeloaders). But if you are so much smarter than I am and have all of the answers, why am I earning far more than you are?

Petty comment and uncalled for.

So, if he criticizes my comments, it not uncalled-for. But if I criticize his for criticizing mine, it is. Got it!

CACfan

MarkFeld said:

CACfan said:

MarkFeld,

I find it interesting that you have criticized several of my comments. Yet, why do I own a successful retail coin business yet you work for someone else for blue collar wages (I know exactly how much you guys earn, as per ex-employees)? I am not in any way condemning you because you do work for a living (I only chastise welfare-mooching freeloaders). But if you are so much smarter than I am and have all of the answers, why am I earning far more than you are?

Previously, I criticized your comments when you stated incorrect hearsay as fact. In this thread, based on my experience, I offered a different viewpoint from yours regarding reserve bids. You chose to take that as a criticism.

I didn’t say that I was smarter than you or that I have all the answers.

You have no idea what my wages are and they’re entirely irrelevant. I work for Heritage because I choose to and I’ve worked for some other excellent companies during my career, as well.

"Incorrect hearsay"? When I have posted hearsay, I have always represented it as such.

And your wages are relevant if you are earning considerably less than I am yet disagreeing with my comments about how to actually sell coins, not just tout theories. Then again, I am a RETAILER yet you are a member of the hardcore coin dealer subculture, so I can totally see why we disagree. We are from completely different universes.

MarkFeld

CACfan said:

MarkFeld said:

CACfan said:

I am not talking about multi-million dollar consignments that took decades to assemble. I am referring to the $5,000 to $250,000 or so consignments that most blue collar folks have for which they had overpaid at full retail.

Not everyone is a multimillionaire who can afford to tie up huge sums in coins for long periods. Nor is every potential seller sophisticated about how to buy coins at or near wholesale levels. They can get buried at full retail.

One large auction firm would not allow me to send a $500,000 consignment without first listing the coins and getting approval in advance for my zero-buyback reserves. That precaution is understandable but way too much work for someone as lazy as I am. If I need to go to that much trouble, I will list the coins myself on my company's websites and get the full prices needed, which I did to some extent (I have probably sold more than half of that group of unusual coins since).

I repeat, for most folks, Great Collections and David Lawrence are the way to go because you cannot beat zero-buyback reserves, which guarantees that you can break even if you paid full retail. GC is now number three in sales volume and fast approaching number two. There must be a reason(s).

Consigning coins with no reserve is like playing cards in Vegas. Of course auction firms encourage it because they want their commissions no matter what.

Notice that the two other comments were posted by representatives of their respective auction houses. I have no horse in this race. I am just trying to help people who paid full retail for their coins and want to bail out. Or anyone else who just wants to get a decent price for every single item.

The two recommended companies have an excellent track record for getting top dollar for ANY coins, not just the cream. Almost everything will eventually sell, especially CAC coins, provided that you are not seeking Rolls-Royce prices for mere Ford Focuses.

A consignor need not have a six or seven figure consignment to enjoy good results from no reserve auctions. And if someone has buried himself in a coin, he’s unlikely to get his money back in either an unreserved or a reserved sale.

Yes, representatives from two auction houses have responded in this thread. We each have a substantial amount of experience, both in buying in auctions and working with consignors.

Show us a third-party study that proves it.

You’re the one who made the original claim, with which I disagreed. Show us a third party study that proves it.

CACfan

Why has this thread turned into an advertisement for certain auction companies, LOL? That was not my original intention. I have no horse in this race as noted in a prior comment. I am just trying to help the less informed consumer see through the zero-evidenced hype.

MarkFeld

CACfan said:

Catbert said:

CACfan said:

MarkFeld,

I find it interesting that you have criticized several of my comments. Yet, why do I own a successful retail coin business yet you work for someone else for blue collar wages (I know exactly how much you guys earn, as per ex-employees)? I am not in any way condemning you because you do work for a living (I only chastise welfare-mooching freeloaders). But if you are so much smarter than I am and have all of the answers, why am I earning far more than you are?

Petty comment and uncalled for.

So, if he criticizes my comments, it not uncalled-for. But if I criticize his for criticizing mine, it is. Got it!

It sounds as if you don’t understand the difference between disagreeing with someone and criticizing them.

CACfan

You’re the one who made the original claim, with which I disagreed. Show us a third party study that proves it.

Obviously, there are no such formal studies. But you have no proof to support your contrary claim, either.