I consider this post a big "nothing burger" (respectfully) I have been in the auction biz for over 25 years. and the physical btc collectibles for several. stacks is doing everything right, they only suggestion I made to James was making the bid increments $500 instead of $2,500 on high end loaded coins, $2,500 increments are just to hight to create bidding competition. also I think stacks should cut into their commission a little bit to help sellers get their high end loaded coins sold, if a $80k loaded 2011 Cas coin gets to with in a couple grand $of spot price, I feel that stacks should cut into their commission and make up the difference to help get the coin sold, then both the seller and stacks make money. think about how long the seller goes without their coin just to have it passed on because stacks isn't willing to bend a little bit. that's my 2 cents
It sounds like we agree on the most important points (bid increments are inflated, everyone should benefit, etc.)
I bet a fair number of people who own crypto coins
don't have any auction industry experience, and that's why I wanted to put up a warning.
Heritage is offering somewhat better terms, but still with some pitfalls. They'll split 50-50
the portion of the BP that exceeds the spot price, and they don't use any reserve. This means that, unlike SB, all coins will sell. However, the seller will lose money when the spot:premium ratio goes over 8 (ie. if BTC is at $60,000, a 1BTC coin with anything less than a $7,500 premium will lose money for the seller). Heritage will always earn 50% of the coin's premium unless the spot:premium ratio is under 5, in which case the seller will earn a higher percentage.
Interestingly, this works out to be about a 9% commission for unfunded coins, which is a lot less than 20%. However, I don't know if they offer these terms for auctions of peeled coins, or for coins loaded with only very small amounts. If they do, that could be a pretty good option.