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Great Collections get ANA’s 3 year contract so...
I see that ANA has given their 3 year auction contract to relative upstart GreatCollections who has certainly made its mark in the numismatic auction market in the past few years. Squeezing out StacksBowers, Kagin, etc. as official ANA auctioneers.
There are at least three sides to the question of ANA convention auctions. First, Will GC be able to have an auction ON SITE during the convention or will it be limited to lot viewing? This of course is subject to covid and state/ local laws.
The other two sides are up for debate. Some dealers and collectors say such on site auctions distract from bourse activity and sales, too often sessions directly conflicting with bourse hours ( and easily forgotten )
and divert $ from being spent on the bourse.
The other side of debate is a prominent on site auction will certainly attract more attendance to the convention - perhaps up to 50% higher attendance.
I’d guess I’m siding with the latter argument
providing all auction sessions occur after
bourse hours. Unfortunately this leads to 1-2 AM sessions UNLESS the ANA restricts auction sessions in size, which would be a first.
Another factor is can the ANA legally restrict any other auction house from conducting competing auctions during the ANA, even at a
nearby site ? Thereby diluting the strength of the ANA official auction AND causing convention attendees ( and bourse dealers ) to physically leave the ANA convention premises to both lot viewing & bid. That question is open for debate.
There are at least three sides to the question of ANA convention auctions. First, Will GC be able to have an auction ON SITE during the convention or will it be limited to lot viewing? This of course is subject to covid and state/ local laws.
The other two sides are up for debate. Some dealers and collectors say such on site auctions distract from bourse activity and sales, too often sessions directly conflicting with bourse hours ( and easily forgotten )
and divert $ from being spent on the bourse.
The other side of debate is a prominent on site auction will certainly attract more attendance to the convention - perhaps up to 50% higher attendance.
I’d guess I’m siding with the latter argument
providing all auction sessions occur after
bourse hours. Unfortunately this leads to 1-2 AM sessions UNLESS the ANA restricts auction sessions in size, which would be a first.
Another factor is can the ANA legally restrict any other auction house from conducting competing auctions during the ANA, even at a
nearby site ? Thereby diluting the strength of the ANA official auction AND causing convention attendees ( and bourse dealers ) to physically leave the ANA convention premises to both lot viewing & bid. That question is open for debate.
Comments
The ANA made a fatal mistake allowing everyone to show lots. It remains to be seen what Stacks and Heritage will do. I'd bet (but I do not know) they will continue to hold their sales the week after and show lots at ANA. They do not have to pay any fees to do so.
Now the theory is to have an auction week during ANA. I dunno, I doubt that will happen. How can the ANA expect someone to pay a fee when GC is announced at the "official auctioneer"? And they want it during the show? Save for Legend, Stacks and Heritage quit having auctions at shows a year ago,
GC did a slick move claiming the ANA. Congrats and good luck to them.
Seems like They would have to change the format, from ending when time runs out to ending when bids stop?
- Ian
I know NY International does it-but that is a truly world wide market. While the US coin market is BIG, its NOT that big!
I also think it ballsy the ANA wants to parcel out slots after someone is already the official auctioneer. Bad move. They did beg all of us to make offers earlier. Why do it now?
Seems the future of coins buying might be via auction. Even the ANA show in my opinion is on the decline (they get LESS then 10000 true visitors per show).
However as far as them being the official ANA auctioneer they are weak when it comes to offering world coins imo.......there has to be others to fill the gap.
I wish their imaging was better. Often time the coins are not very clear to see.
Top coins will not be coming from dealers in about 2-3 years. ALL auctions. Every body LOVES auctions. I started my auction company because I saw the future.
Its just my thoughts on the matter as well as another well know gent here on the forum.
Only meant as a helpful suggestion. If others are saying it also , then perhaps they’d look into it . If we’re the only 2 saying that , then GC can ignore it.