Category: Company News

Don’t sell gold coins by auction

Gold coins should not be sold in an auction because you will not achieve their true value, after deduction of the auctioneer’s commission.

Simply put gold coins like Sovereigns, Krugerrands, Brittanias and many European, American and South American gold coins are only worth their bullion price, which fluctuates on a daily basis.

Here is a hypothetical example to explain mathematically what we mean. Gold coin A has a bullion value of £1000. If entered into an auction the buyer has to pay, on top of the hammer price, something called a “Buyer’s Premium”. This can range, with VAT on top, from 20% to 30% depending on the auction room. So if coin A is only worth £1000 buyers can’t bid that amount because they have to allow for the buyer’s premium. If we assume the buyer’s premium is, on average, 25% they can only bid £800 because the buyer’s premium will total £200.

So your £1000 coin A only raises £800 in the auction but it gets worse because the auctioneer will also deduct their seller’s commission. This is usually 15%, plus vat, photography and insurance, which totals about 20%. So £800 reduces down to £640.

So in this example your £1000 gold coin, if sold by auction, will only raise £640 or to put it another way only 64% of its true value.

At Nicholas Muston we sell hundreds of thousands of pounds worth of gold coins and jewellery on behalf of our clients every year and only charge 7.5% commission. We are paid the top trade rate by the bullion dealers, which is about 10% more than the price offered to a member of the general public, so you are still better off using us to broker the transaction on your behalf.

So, in this example we will return you £925 for gold coin A, as opposed to the £640 if sold by auction, a difference of £285.

This is the general rule of thumb for bullion gold coins but as we are also coin valuation specialists we will assess your collection and if there are any rarities we will separate them out and either sell them, on your behalf, to a collector or dealer or through a specialist firm of auctioneers.

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I discovered this pair of Castellani bracelets on a routine probate valuation in Hove, amongst a group of costume jewellery. The family had no idea what they were or where they had come from.
Fortunately I knew exactly what they were and entered them into a Bonhams auction where they sold today for £30,000 plus buyer’s premium.
Made circa 1865 in a Byzantine style they are set with sugarloaf and cabochon sapphires and each is marked on the reverse with the interlocking CC mark.
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#castellani #caetani #byzantinerevival #giuliano #antiquejewellery #antiquejewelry #probatevaluations #nicholasmuston #antiquevaluations

I discovered this pair of Castellani bracelets on a routine probate valuation in Hove, amongst a group of costume jewellery. The family had no idea what they were or where they had come from.

Fortunately I knew exactly what they were and entered them into a Bonhams auction where they sold today for £30,000 plus buyer’s premium.

Made circa 1865 in a Byzantine style they are set with sugarloaf and cabochon sapphires and each is marked on the reverse with the interlocking CC mark.

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#castellani #caetani #byzantinerevival #giuliano #antiquejewellery #antiquejewelry #probatevaluations #nicholasmuston #antiquevaluations
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Another Louis Vuitton trunk sold on behalf of a client to a private collector. This time a wardrobe trunk complete with drawers and hanging rail. A few condition issues but it is going to be sent to France for a first class sympathetic restoration. No more than it deserves.
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#louisvuitton #luxuryluggage #vuitton #vuittontrunk #louisvuittontrunk #wardrobetrunk #ageofelegance #1920s #1930s #nicholasmuston #antiquevaluations

Another Louis Vuitton trunk sold on behalf of a client to a private collector. This time a wardrobe trunk complete with drawers and hanging rail. A few condition issues but it is going to be sent to France for a first class sympathetic restoration. No more than it deserves.
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#louisvuitton #luxuryluggage #vuitton #vuittontrunk #louisvuittontrunk #wardrobetrunk #ageofelegance #1920s #1930s #nicholasmuston #antiquevaluations
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My birthday girl. ❤️

My birthday girl. ❤️ ...

Alfred Daniels, 1966. London street view near Charing Cross; oil on canvas; signed and dated; 70cm x 90cm.
A great looking painting in lovely original condition that I saw on a probate valuation this afternoon.
Daniel’s was once described as a “Lowry for Londoners”. Born in Bow in the east end of London he studied at the Royal College of Art. In the 1960s he taught at Hornsey College of Art.
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#20thcenturyart #20thcenturybritishart #oilpainting #londonartist #royalcollegeofart #hornseycollegeofart #postwarart #probatevaluations #nicholasmuston #antiquevaluations

Alfred Daniels, 1966. London street view near Charing Cross; oil on canvas; signed and dated; 70cm x 90cm.
A great looking painting in lovely original condition that I saw on a probate valuation this afternoon.

Daniel’s was once described as a “Lowry for Londoners”. Born in Bow in the east end of London he studied at the Royal College of Art. In the 1960s he taught at Hornsey College of Art.
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#20thcenturyart #20thcenturybritishart #oilpainting #londonartist #royalcollegeofart #hornseycollegeofart #postwarart #probatevaluations #nicholasmuston #antiquevaluations
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I always enjoy walking in London because you never know what architectural gems are just around the next corner. This is the Royal Arcade in Albermarle Street which was built in 1879 and is opposite Brown’s the oldest hotel in London.

I always enjoy walking in London because you never know what architectural gems are just around the next corner. This is the Royal Arcade in Albermarle Street which was built in 1879 and is opposite Brown’s the oldest hotel in London. ...

Just had a fabulous afternoon tea at the Savoy and this beauty was parked outside.
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#lamborghini #goodwood #goodwoodrevival #classiccar #rogermoore #simontemplar #thesaint #classiccars  #sportscar #sportcars #italianstyling #italianflair #earlscourt #genevamotorshow #sussex #iconic #iconiccars #motorracing #modernclassic #nicholasmuston  #antiquevaluation #supercar #supercars

Just had a fabulous afternoon tea at the Savoy and this beauty was parked outside.
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#lamborghini #goodwood #goodwoodrevival #classiccar #rogermoore #simontemplar #thesaint #classiccars #sportscar #sportcars #italianstyling #italianflair #earlscourt #genevamotorshow #sussex #iconic #iconiccars #motorracing #modernclassic #nicholasmuston #antiquevaluation #supercar #supercars
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