4 Reasons to Sell Your Coin Collection at a Specialty Auction
Posted on: 18 April 2017
If the time has come to sell your coin collection, whether it represents years of work and patience on your part or it's simply something you inherited and want to get the most value from, you may be tempted to place it up for sale on one of the well-known online auction sites. Another possibility is taking it to a coin shop or independent coin dealer to see if they will offer you a good price. However, before you decide on either of these paths, keep in mind that a different, and perhaps better, option exists for those wanting to sell coin collections or even rare single coins—specialty coin auctions.
Following are four reasons why this course of action may be more in your best interests than regular auctions, shops, or dealers.
You'll Receive Professional Estimates
You'll get realistic estimates from an auction house that includes coins among its specialties. Keep in mind that the large, general auction sites are operated by professional web managers rather than by professional coin auctioneers. You'll be able to receive realistic estimates of what your collection might bring at auction, which is something you couldn't realistically expect from those involved with the large general auction sites.
Your Coin Collection Will Be Widely Advertised
Coin auctioneers go to great lengths to ensure that the items they've been entrusted to sell are advertised in the right places and reach the right people. You may tell yourself that the general auction sites have huge global memberships, but that doesn't do you much good if the audience you're seeking to attract generally steers clear of generalized auction sites in favor of those offering specialty services—and this is very much the case with sites like eBay as opposed to experienced coin auctioneers.
Likewise, online sales sites such as Craigslist rarely bring good results when dealing with valuable items such as coin collections, even though they have wide distribution levels. A professional coin auctioneer will ensure that what you have gets noticed by those looking to spend money on quality coin collections.
You'll Receive the Best Prices
Taking the lot to your local coin shop or private dealer may seem like a tempting way to get it all over with in a clean sweep, but keep in mind that coin shop owners and dealers aren't in business to provide you with the best possible price for what you've got. They'll try to buy your collection for the least amount possible because they make their profits on reselling the items that they buy.
You can expect to be offered between 50 and 75 percent of the actual retail value of the coin by a shop or a dealer. A professional coin auctioneer, on the other hand, will make a point of working hard to get your the best possible price for your collection because their cut depends on it, and they're better positioned to get retail value.
You'll Be Removed From the Haggling Process
Face it: haggling is uncomfortable at best and downright embarrassing at worst, particularly if you've got sentimental value wrapped up in your coin collection. When you work with a auction representative, you'll be dealing with that person only, and he or she will make whatever negotiations are necessary in order to get you the best price for your coins. Those who do this for a living are skilled in the art of bargaining with potential buyers, essentially relieving you from the most difficult part of parting with your coin collection.
Please feel free to contact your local auction representative for more information on whether selling your coin collection or single valuable coins through a specialty auction is a viable option for your particular circumstances. Resources like https://www.hjbltd.com/#!/ can be a good start.
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