Online coin auctions not only require companies to understand numismatics, but basic marketing, too. One of the best ways to draw bidders to your sessions is to fill out Proxibid title and features page completely because that also appears in the Coins and Currency listing.
You can pay for advertising, or use Proxibid features to the fullest. Here are some examples of what not to do, followed by examples of how to do it.
No mention of coins
This announcement lacks any mention of coins, but still lists “Coins and Currency” as a desired market:
End Of Summer Auction by The Auction Place Inc.
Tuesday, September 18 | 5:00 PM Pacific
Anaheim, CA. Warehouse Clean Out Auction Antiques-Vintage One Of A Kinds.
No description of coin lots
This announcement just lists condition of coins without describing any lots.
Uncirculated U.S. Coins Auction by Salamanca Auctions
Sunday, September 16 | 1:45 PM Pacific
Montrose, CA. Uncirculated U.S. Coins.
No title photo of showcase coin
This announcement announces types of coins but does not include a lead photo of a showcase coin.
Coins/Currency & Longaberger Basket Auction
by Metzger Property Services
Monday, September 17 | 10:00 AM Eastern
Warsaw, IN, 1909 $5 Indianhead Gold Piece;Morgan & Peace Silver Dollars;Eisenhower dollars; Seated Half w/ arrows;Walking halves; Mercury dimes;Indianhead cents;Foreign coins;Silver coins, 50+ Longaberger Baskets
No description of coin lots
This announcement does most things right–announcing a massive sale with no reserve and then listing the types of lots (no specifics, though). Unfortunately, however, the company posts a near silver-melt common 1940-S half dollar as its lead image, indicating a lack of numismatic savvy.
MASSIVE Estate Coin Liquidation – NO RESERVE!
by WeCare Downsizing
Spartanburg, SC. Silver US and Canadian Coins, Rare Currency, Ancient Roman Coins, Old World Coins, Silver and Gold Bullion, US Coins with Key Dates, Very Collectible Vintage & Antique Tokens… Over 300 lots!
How to do it
SilverTowne Auction shows how it’s done, using the auction highlight as announcement photograph as well as listing specifics of coins plus types of coins being offered.
Sept 18 SILVERTOWNE RARE COIN AUCTION
Tuesday, September 18 | 12:00 PM Eastern
Leipsic, OH. 1860-O Seated Dollar, 1909-S VDB Cent, 3 oz Engelhard Poured Silver Bar, 1800 Bust Dollar, 1802 Bust Half Dollar, 1909 Barber Half, 1857S $3 Gold, 1855 $3 Gold, Currency, Silver, ASE, 1903-S Morgan
Take advantage of Proxibid technology to list the special features of your auction, including your top coins (with a showcase photograph), plus specifics of lots and general information about condition, types, and special features of your auction. Also, list your auctions early by using the Coins and Currency page as a means to alert your regular bidders to an upcoming sale weeks or months ahead. See how Darron Meares does it below:
Halloween Coin and Currency Auction by Meares Auction Group
Wednesday, October 24 | 11:00 AM Eastern
Pelzer, SC. More details forthcoming – this auction will sell a collection of great coins that were consigned to us in September. The collection was inherited and contains many great items – stay tuned.
I’m shocked on how this blog dotes on Silvertowne… very overpriced items, too liberal in their use of ‘Scarce’ and ‘Rare’, and an overall bad feeling when attending their online auctions. I dislike their auction method, starting at ridiculous prices and going down until someone who has more money than sense places a bid. I’ve not purchased a single item in the many of their auctions I’ve attended. Better deals for the savvy bidder in other places!
You shock easily.
SilverTowne’s Larry Fuller is one of the best graders in the business. You’re not going to get a steal at SilverTowne but you also won’t get counterfeits, doctored coins, etc. Many favorite auction houses use “gem” and “DMPL” and “scarce” and “rare,” etc. Fact is, if you’re going to bid via Proxibid, you need to know numismatics. That is what this blog is about. And if you do know coins, and you sound as if you do, then you’ll find the right place for you.
I’ve found some amazing buys on Proxibid auctions… and yes, you do need to do your homework to know what you’re getting. Did not mean to infer that SilverTowne was not on the up-n-up or did not know what they are doing… just that their prices are much too high for a budget-minded collector. That is certainly good news to a consignor, though…
Thanks for writing again. You can get amazing buys. Or rotten ones. Just went through a spate of the latter. See today’s post.