We have to hand it to Mascari Auction Company, a house that schedules regular Proxibid auctions that usually have a 19% BP. Last week, during a sale of some of the best coins we have seen recently on the portal, the company sent an email blast lowering the BP to 9%.
We advocate low buyer’s premiums. Some houses, like Liberty Shops Auctions, have decreased it to zero to effect sell-throughs time after time. Silver Trades also lowered its BP this week to 13%.
Mascari took the hint with a consignment of pricey Morgans, DMPLs and other rarities and lowered the premium with outstanding results.
Auctioneer Mark Upton noted superb results. “We only had the sale up for 3 days! The sale brought $32,000 For just a short auction of 45 lots. the promotion went great!”
We applaud Mascari which, by the way, posts transparency notices (as does Silver Trades), which we discourage. But we’re so pleased to see the sell-through and competitive bidding and happy for all the bidders who won choice coins in Mascari’s Nov. 8 auction.
Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.