Reputable Coin Auctioneers/Auction Houses

[Jester]

Howdy All,

Just looking for suggestions for reputable coin auctioneers/auction houses from forum members.  I primarily scour Dix Noonan Webb and Heritage but got to thinking today, surely these can't be the only two reputable coin auction houses.  So I offer my thanks in advance for any recommendations you can share!

[ArthGoch]

If you are of the belief and opinion that the world does not end at Maine,  take at look at Lockdales of Ipswich. http://www.lockdales.com/

 

[sovereignsteve]

Spink, St James and Baldwins are large and very reputable coin auctioneers. There are dozens of smaller ones that do both dedicated coin auctions and have some within their normal routine sales.

[SilverTanner]

In addition to the ones mentioned I would check out 'sixbid.com', any of the auction houses on there are OK and they pretty much cover the world, US, UK and many European auctions (less from Australia, so add Downies).

[Fivepoundfred]

I often buy from Warwick & Warwick, yes you guessed correctly who operate in Warwick ! On auction day you can visit their premises in the morning and view as many items as you wish, the auction then normally starts early afternoon in the town centre ( they do not have a license to auction at their premises ) which is a little inconvenient but you can make a day of it if you have the time. The viewing system and facility is very good.

[Lindeman]

2 hours ago, shortstack68 said:

Lockdales overgrade and therefor are also overpriced, caution is advised when buying there. DNW, Spink and Baldwins are amoungst the best of the British bunch

With all due respect @shortstack68 - I disagree with your conclusions on Lockdales.  I happen to have attended several of their auctions in person and have bid online via Saleroom as a buyer.  There is of course a big difference in the auction experience online and in person. In person you have the chance to see and hold the lots in person, so in my view - I don't pay serious attention to the grades that they ascribe to each coin; I make my own opinion and bid accordingly.  On Saleroom you have a picture of nearly every coin to help you decide, and again - I would look at that rather than the suggested grade they provide.  How can an auction be "overpriced" when it's the bidders (not the auction house) that determine the final selling price ? Sure - there are always coins that go for prices above what I would like to see - but that's my problem. But I have also picked up coins at bargain prices that nobody else bid on. It's certainly my understanding that they have a prettty substantial customer base - and their hammer fees are not the highest (or the lowest) around. 

Just my opinion - but I don't think your generalisations on Lockdales should go unchallenged. Happy to read that you do like some of the other fine UK auction houses though?. For the record - I am not connected to Lockdales, and I bid and attend other UK auctions  regularly   

Lindeman 

 

[sovereignsteve]

35 minutes ago, Lindeman said:

How can an auction be "overpriced" when it's the bidders (not the auction house) that determine the final selling price ?

I think he probably means that many bidders, especially online or bidding by phone, and who only have the auctioneers opinion of the grade to go on, will overbid because the photos aren't good enough to properly gauge the correct grade.
I have witnessed this many times. It is surprising how guillible some bidders are, they will bid a coin up to, and beyond, fair price for the stated grade, even when the supplied photos clearly show how misplaced this is.

[Lindeman]

Fair point Steve: it all depends on the photos and the buyers psychology, which are more influenced by the suggested grade than the in-room buyers.  As we know - remote bidding always has its downside , but it is admittedly a lot more convenient for those unable to attend in person. What is also noticeable is that large lots of coins often go to bidders in the room , and I reckon that's because those buyers (often dealers) have the chance to preview the coins in hand.  

I suppose the reciprocal is for us in the UK when bidding on HA for example. 

[sovereignsteve]

20 minutes ago, Lindeman said:

Fair point Steve: it all depends on the photos and the buyers psychology, which are more influenced by the suggested grade than the in-room buyers.  As we know - remote bidding always has its downside , but it is admittedly a lot more convenient for those unable to attend in person. What is also noticeable is that large lots of coins often go to bidders in the room , and I reckon that's because those buyers (often dealers) have the chance to preview the coins in hand.  

I suppose the reciprocal is for us in the UK when bidding on HA for example. 

Definitely. I am able to go in person to a local auction house and you really do need to view these lots in person. Sometimes it's surprising what odd gems are in these but also, sometimes they are a load of junk. These can go online for far more than they're worth if the valuer has been "glowing" in his description.

[SilverTanner]

When I was in London (many years ago) I was able to view coins at auctions all the time. Having moved to the other end of the country this is no longer possible and I am completely reliant on the description and quality photos, even more so as most things I buy now are from overseas.

It is not just remote collectors bidding up prices there are a couple of auction houses (not UK) where the prices made on the day are stupid and bear no resemblance at all to accepted valuations and I gave up bidding years ago. The suggestion is the buyers are using coins for purely financial reasons such as transfer currency - the coin then appears at auction in another country several months later at a realistic price, I have picked a few things up waiting for this to happen? One coin I was after over the new year period has re-appeared in an auction at the end of June and I now have a few weeks to try and find the money!? I may have to sell some bullion sovereigns?

[Lindeman]

OK @shortstack68, @SilverTanner, @sovereignsteve - I learned a few things from each of you; thanks fir the tips.  I will certainly look out for some of those shenanigans when I am next bidding either live or online (at Lockdales or elsewhere)! I obviously knew that they are "economical with the truth" and the photos... but the "one more bid" ploy I had not appreciated.  

Lindeman 

[hedvigahlgren11]

Great thread for reference. Thank you!