London Coin Auction

Biography

AUCTION SERVICE

Stephen Lockett the founder of London Coins has been active in numismatics since 1982 and running auctions since 1994. Over the years his team at London Coins LTD have developed a simple, transparent and effective auction service.

Two options are available.

1) London Coins Reserve

The seller consigns his items for sale to London Coins who do the rest.

Using the knowledge we have of our clients requirements we will describe, grade and group the material into lots. We will set a reserve and guarantee the lot will sell at or above this amount. Being dealers as well as auctioneers we have up to date knowledge of the current trade prices, and our reserves will reflect the current market trends.

We send to you a listing of your lots with reserves along with an auction catalogue about three weeks before the sale, at this stage you have the option to move to our service 2 and set your own reserve if you wish. We do not accept the withdrawal of lots.

The charges for this service are 10% of the hammer price or £1 per kilo weight if greater. As all lots are guaranteed to sell no unsold lot charge is payable.

2) Sellers Reserve

The seller describes his lot (we grade it) and states the minimum amount (the reserve) he is willing to accept for the lot before any commission. No lot will be sold for an amount less than the reserve.

The charge for this service is 12% commission, with a minimum lot charge of £3 sold or unsold, or £1 per kilo weight if greater.

We send to you a listing of your lots with reserves along with an auction catalogue about three weeks before the sale.

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Insurance

Your material is fully insured whilst in our possession, for a premium of just 1% of the reserve price. You need take no action for this cover, it is automatic unless you tell us otherwise.

Settlement

To encourage the highest possible results we have developed an effective postal service both national and international to encourage bidding from all over the world from persons unable to attend the sales. We aim to have dealt with all our clients wherever they may reside within 28 days and it is our policy to make payment to vendors one calendar month after the sale date.

Live Auction

Our auctions are generally two day events with up to 2,500 lots. We use the Grange Hotel Group with which we have been associated at various central London venues since the mid 1990s, and since 2006 we have found their Bracknell Grange Hotel being sandwiched between the M25, M3 and M4 not far from Heathrow and with direct rail links to central London attracts the optimum number of room bidders. Sellers need not attend but all are welcome to come and enjoy the excitement of the event. The auction catalogue for each sale provides full details of start times and dates.