More Auctions Spur Competition

By our count, Proxibid coin auctions have increased by more than 30% this year over the same time period in 2011. But there’s more good news. Pictures are improving across the portal as well as consignments. And we have other statistics, too.

We monitor every coin auction on Proxibid every week. We never bid in some auctions because their terms of service or buyers’ fees and shipping are prohibitive. And we purposely avoid three auctions because we question their business practices.

As always, we don’t name the auctions we shun, as ours is an educational site that promotes what auctioneers are doing well.

And wow, are they!

In the past year, we praised 110 auctions in our most popular page, “Boos and Booyahs.” Booyahs–a slang term for “Way to Go!”–outnumbered Boos by two to one, with only 54 in the negative category. What’s more, in the past six months, Booyahs outnumbered Boos by 70%, indicating that auctioneers are spending time honing their photos, lot descriptions and consignments for the Internet as well as onsite crowd.

We have seen incredible consignments at Capitol Coin Auction, Leonard Auction and Western Auction. We have seen numismatically accurate lot descriptions and fine consignments at Weaver Auction, SilverTowne and Key Date Coins. Rolling M Auction and Kaufman Auction are improving on all levels with each auction. Southwest Auction’s zero buyer’s fee, quick and cheap shipping, is causing a stir with sell-throughs above wholesale and even retail on occasion.

There is just so much to tout that we could go on and praise a dozen or more auction houses. We’ll save that for another day.

We credit Proxibid’s quality control, customer service, increasing competition … and, well, this blog with more than 20,000 views and two dozen sponsors within the past year.

Booyah to everyone!

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