Silvertowne, concerned about securing top-quality consignments for its bi-monthly auctions, has one of the best seller policies on Proxibid, with low and even zero fees for coins that bring good hammer prices. Western Auction, still one of the best online and onsite companies in the business, at one time featured a 0% buyer’s fee, increased that to 5%–still the lowest on Proxibid–but recently upped that to 10%.
At 5% fees, Western Auction still would be doing well. Its July 6 session brought amazing hammer prices, with this 1893-S PCI-graded Morgan bringing $2950, or a realized price of $3245, still a bargain for all parties–auction house, seller and buyer.
Silvertowne, operated by Rick Howard of Howard’s Coin Shop in Leipsic, Ohio, features similar high-end items. In its last auction, this raw 1893-S sold for $3200, or $3680 realized, with 15% buyer’s fee. While that fee is on Proxiblog’s high end, Silvertowne makes up for that with expert coin grading and consignment policies. (Note the accurate description on the 1893-S coin pictured here.)
Proxibid will be taking a brief hiatus until mid-month. In two months we have posted more than 30,000 words in several categories, hoping to enhance your summer reading on best practices and more for your auction company.
In closing, we’d like to acknowledge our Honor Roll houses for their standards and practices on Proxibid:
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.