This Auction Co. is New- Any comments ??

[Guest]

This is the first time I have seen this company. Has any one here purchased from them. Comments are welcome'

Here is the Link:

Thanks .

http://www.greatcollections.com/main-about

[pennies4pennies]

First I heard of them. To me it's just another auction house.

[jcuve]

They might be okay. We'll have to check sold prices and see how they look...

[liveandievarieties]

Great Collections is Ian Russell's company, the former president of Teletrade. He left the company under questionable circumstances. His auction service is similar to Teletrade's though I haven't done any business there. From all I've heard, it's a reputable company.

[coppercoins]

Good luck to anyone who tries running new auction companies online. To me they would all be a rather bleak attempt to take the hoards of business away from eBay - a very steep and long hill to climb. Nevertheless, I would love to see someone succeed and take eBay down to a less than super mega site level. They are too big and too powerful for their own good.

[BadThad]

It's been around for a couple years now I think.

I agree with Chuck, good luck penetrating a tough, tough auction market. It's become similar to the TPG's, bascially you have 3-4 big players hogging the market.

[liveandievarieties]

This is a separate market from eBay. In fact, eBay's prices have very little to do with market values, as there's mostly a bunch of yahoos bidding on coins they don't understand too well.

Great Collections is most like Teletrade, catering to the slabbed market and often the Registry collector. Dissimilar still to Heritage or Bowers who will handle raw rare coins, tokens, medals and other exonumia. While each type of company may share some customers, their markets are vastly different, and therefore so are their prices.

For example, I've bought a coin on eBay, already slabbed, and sent it to Teletrade where it sold just a couple of weeks later for more than triple what I paid. I've seen coins purchased on Teletrade sent to Heritage where they've done both better and worse. It's a scarce coin that goes from Teletrade and sells for more on eBay, but it does happen, it's just a matter of knowing your market.