Hammer price and total cost
At an auction the hammer price is the winning bid. The auction house then adds a buyer's premium, a percentage commission on top, and sometimes a separate fee for online bidding platforms. Tax and shipping may follow.
A coin with a hammer price of 500 and a premium of 20 per cent costs 600 before tax and shipping. Two auctions with the same hammer price can therefore cost very different amounts.
Why recorded prices differ
Some sources publish the hammer price, some the price including premium, and some do not say. That is why every Kollektra sale shows whether the premium is included, extra with a known amount, or unknown.
We never assume a premium. Where the premium is unknown the all-in price is unknown and the sale is left out of all-in calculations, although it still appears in the sales table and in recorded price statistics.
Set your maximum bid backwards
Decide what you are willing to pay in total, then subtract the premium, taxes and shipping to reach a maximum hammer price. Write the number down before the auction starts and keep to it.
Use the fair price tool for the exact grade, which works on all-in prices, and compare your intended total with that range.
Read the lot description
Lot descriptions can include terms that affect value: cleaned, harshly cleaned, damaged, mount removed, or details grade. Look at the photographs in full resolution and ask for more if you need them.
Check the return policy. Many auction houses do not accept returns on coins, or only for authenticity.
Different currencies
Many auction houses sell in pounds, euros, Swiss francs or dollars. Kollektra never mixes currencies in a statistic. If you need to compare, convert at the rate on the sale date using the currency converter, which shows the source and the actual date of the rate.
Remember that your card or bank adds its own exchange margin, so treat any conversion as a reference rather than a final cost.
Auction versus fixed price
Auctions tend to reveal what buyers will pay on one day; fixed-price listings show what sellers hope to receive. Kollektra records sold results, not asking prices, because an asking price is only a wish.
Read the sale type in the recently sold table to see whether each result came from an auction or a fixed-price sale.