The rise of the Internet in the 90's is thriving at a downhill pace and the latest web craze is online auctions. But don't look for this fad to die out as we head into the 21st century. Research done by Jupiter Communications projects that online auction purchasers in the US will grow from 1.2 million in 1998 to 6.5 million in 2002 and consumers will spend $7.1 billion dollars via online auctions. With this in mind, we have joined the excitement with NumisMedia Online Auctions, our version of this fast-action sales format where prices vary instantly in response to demand.
Unlike E-Bay, the Internet's most popular online auction company, rare coins and other numismatic auction lots are offered by qualified member numismatists of NumisMedia only. "One advantage we have over other auction sites is our screening of members before they can list coins in our auctions," explains Dennis Baker, President of NumisMedia. "Not everyone can be a member and list coins for sale. You must be a legitimate coin dealer with an extensive background in numismatics and come recommended by other dealers. We feel that we have a responsibility to the thousands of our visitors. We try to protect bidders by shielding them from unknown sellers."
Many of our auctioneers are pleased with the early results and have cycled auction sales into dedicated customers. "The NumisMedia Auctions has become a useful tool to dealers and collectors alike," stated Lee Crane, member and auctioneer. "It is very easy to use and available 24 hours a day and 365 days a year. We have found it a great way to sell off excess inventory and to meet new customers." Bill Conroy, also a NumisMedia member and auctioneer, relates, "just in the first three months of being on NumisMedia, I have had several calls, nearly half have turned into actual transactions. NumisMedia has quickly become one of my best tools for selling coins."
In the month since FUN, many dealers have been very busy trying to satisfy their customers with new purchases from the shows they have attended. Many dealers report that they are not making much headway because their customers are giving them new want lists faster than they can fill the old ones. Dealers will get another opportunity to fill their needs as they prepare for the Long Beach Expo, which runs from February 11-14. Andrea Neumann plays an extremely active role in the proper coordination of such a formidable event. She arranges and supervises the bourse including the multitude of seminars, meetings, and special attendance by the U.S. Postal Service of Long Beach. She is certain that this will be a very well attended show based on the advertising that they have prepared and the positive attitude that currently saturates the overall marketplace.
One of the most successful attractions is the featured coin auction closing every Monday through Friday between 6:00 and 7:00 p.m. (Eastern Time). Other interesting attributes within our auctions include:
- No reserves, bidding fees, or other hidden costs
- Easy and free bidder registration allowing you to immediately begin bidding on coins at auction (passwords are e-mailed upon the completion of registration).
- Sniper protection (lots close five minutes after the last bid).
- Point and click quick searches (items posted within the last 24 hours, closing within the next 24 hours, and photos)
- Improved closed auctions area where you can view all winning lots closed within the past 7 days or examine your winning bids for the past 30 or 60 days, with detailed information, by entering your alias and password.
- Quick response on all inquiries to customer service.
"As new bidders sign up for the auctions, we notice that they usually wait a little while before feeling comfortable enough to bid on coins," Baker adds. "As they see others buying coins from our auctioneers, they venture in and place a bid or two just to see how smooth the system works. Once they experience how easy it is, they are caught up in the action."
We have received several letters from active bidders with compliments on the quality of not only the coins that they have received, but also the caliber of our auctioneers. Steve McCabe, a frequent bidder relates, "I'm quite satisfied with everything at NumisMedia Online Auctions, including the fact that you not only bothered to read and reply to my mail, but you've been so nice about everything. I appreciate this very much and I assure you I will be attending all NumisMedia Auctions for a very long time to come."
"I fully intend to tell all my coin-collecting friends about it too," McCabe concludes, "the ones who don't already know of the ease of use, the values to be had, and the helpful people behind the whole thing."
For more information concerning NumisMedia Online Auctions, visit our Web Site at www.numismedia.com/auctions or call Dennis Baker at (949) 362-3786.
NumisMedia Online Auctions: Qualified Auctioneers & Quality Coins
