Controlling Your Personal Finances While Running A Business

Three Advantages To Selling Your Coin Collection At Auction

If you are like most people who collect coins, you have done so because it is your passion. Although the attainment of the right coin is the prize, the excitement of collecting often comes from the thrill of the journey it has taken to buy it. While this is one side of it, with any collection there comes a time that you are not looking to buy but to sell your coin collection. Even if you are experienced in buying and selling, there are many advantages to selling your individual coins or collections at auction.

Extensive Marketing

Most auction houses have aggressive marketing campaigns that will allow them to get the information out about your coin collection much faster and further than you ever would be able to on your own. Auction houses have extensive audiences of specific clientele who may be looking for exactly what you are selling.

Your auction representation can reach out to people that they know have similar collections, or who have purchased similar pieces in the past. Many times they have already established relationships with these clients from previous transactions. In addition to having access to these audiences, they are trained on how to most effectively reach them. Instead of solely relying on newspaper or social media ads, your auction representation will be able to reach out to their clientele directly through telephone calls, emails, tweets and texts. Their marketing strategies will help to do the following:

Create and define a sense of urgency to obtain your coin by setting a window of time in which your coin collection will sell

  • Create a momentum that will help to ensure top dollar when you sell your coin collection
  • Orchestrate and organize the competitive bidding process among interested buyers
  • Save you on marketing cost by incorporating your collections into marketing campaigns that already exist

In addition to the above, your auction house will also eliminate selling contingencies; when your coin collection is sold at auction; it is sold as is, where is. This means that you will not have to worry about sellers coming back at a later date with concerns if your coins do not appraise for the price that they have paid for them. 

Professional Images

There is an old saying that states "a picture is worth a thousand words", but sometimes it is very difficult to get the best images of your coins. But as you already know there can be a very thin line between the different levels of a coin grade. When you are selling your coins it is crucial that the buyers are able to see the condition, as well as all of the markings that your coin possess. 

When you deal with a professional auction house, they have photographers on staff who are used to taking excellent pictures of the products that will be sold. They will know how to produce the best professional imagery that will allow potential buyers to see your coins at their best.

Established Reputation

When you are buying and selling coins on an individual basis, there is always a certain level of skepticism when you do not know the person that you are buying from. When you sell your coin collection through a professional auction house, your buyers will feel more confident that they are purchasing from someone they can trust. They know that the auction house is not a fly by night operation that they will not be able to find the following day. This will give them more confidence to pay the higher prices that you are hoping your coin will command.

If you have any reservations or concerns about selling your coins through auction representation, call your local auction house and set up an appointment to go in and speak to them. Give them the opportunity to show you their processes and procedures and what they will be able to do to ensure that you get the highest dollar for the coins you are attempting to sell.