Auctions

[Elements]

4 hours ago, Elements said:

So here’s another auction ending tonight, use this as my example to see if auctions are worth it

https://tlhauctioneers.co.uk/

8 half sovereign on offer tonight. 23.5% buyers premium, need to add 20% VAT onto the buyers premium, then 3% internet surcharge. That’s around 31% added to the hammer price. Treat them as simply bullion value and compare to Atkinson’s £127 each, means they should go for no more than around £97 each.

Let the games begin!

 

By the way HGM would give the seller £109 right now for a half sov so if they go for less than that, then auctions aren’t worth it for the seller.

Ok so here are the results for the 8 half sovs.

3 sold for £125

1 for £74

1 for £73

1 for £67

2 for £62

 

so based on bullion content only, with the exception of the £125 (I don’t know if these were rare examples I dint check) the others were actually a good deal! I eat my words maybe you can get a bargain at auction!

[sovereignsteve]

in auctions with lots of basic bullion sovereigns, you will often find bidders in the room bidding around spot price, taking into consideration buyer's premium, on all lots. They tend to win most of them as online bidders then have to bid too high.

[Murph]

Then you have to factor in postage unless you live close by.  A lot of auction houses charge a premium for postage as well so if you have only managed to win one of the coins at a reasonable price the postage might take it over the cost from a bullion dealer.

 

[andrewmcmann]

I must admit I have licked the odd sovereign occasionally but never had a whole one yet

[greendragon]

remember also, you never know who you are bidding against!

i uses online and in person auctions a lot

its amazing how many times i can be outbid on an item,only to see it back in the auction house the next time

i have collected items that have four or five lot number placed one on top of another

anyone would think they were shill bidding!!