Coins Online Auction: How does Catawiki work?

Catawiki is the worldwide reference place for Coins Online Auctions and online auctions of collector’s items. Today you can distinguish in the market of auctions on line two major players, the most popular is the site of Ebay that collects thousands of offers daily. To use a metaphor, Ebay is like a fish market where every single fisherman tries to sell his fish to the highest bidder.

However, since 2008 a new portal has been created that has literally transformed the way we manage our coins Online Auctions, we are talking about Catawiki Auctions that has made the negotiation more secure and reliable by simply introducing the concept of Supervisor.

The Supervisor is nothing more than an expert in his category who has the task of estimating the object proposed in the auction and validate the auction proposal. In this way, the buyer has the assurance that the object awarded has actually the declared value.

To return to our analogy, it is as if there were at the side of the fisherman a guarantor that confirms the origin and quality of the fish sold.

In addition, Catawiki acts as a mediator between the seller and the buyer, technically has the item awarded sent only after receiving payment from the bidder and pays the due to the seller only after the proper delivery of the item concerned.

All this has contributed to the exponential growth of the platform, making it today the safest and most reliable in the field of online auctions of collectibles.

Coins Auctions

Now let’s talk to your as a collector.

Have you ever done an auction?

The world of coin auctions is really exciting! Now, from our coin auctions page you can see what auctions are currently in progress, and you can get an idea of the incredible variety of pieces, countries and history that are available to all collectors or enthusiasts.

If you are here, you probably want to learn some tricks about coins online auctions, those little tricks that will make your lot more attractive and thus increase the possibility of creating a small/large business from your great passion. Or maybe you just want to acquire the tools needed to recognize a good deal.

We don’t promise you miracles, nevertheless our task on this page is to give you an overview of the potential that the Catawiki auction platform offers you.

Are you ready for this? Let’s start with the basics.

How Catawiki Auctions Works

On the Catawiki site you can sell or buy items at auction. The registered user can then make a bid for an item in which he is interested or in turn put up for auction an item or a lot of items he wants to sell. So the user has two opportunities:

  1. Sell
  2. Buy

The Catawiki website distinguishes between various categories. This means that each item auctioned belongs to a specific category. The largest categories are vintage cars, antiques, works of art, jewellery, watches, books and of course rare coins and stamps. You can find niche objects, vintage souvenirs and objects you never imagined existed.

No collector’s item was born at the purpose of being collected. (Alberto Bolaffi)

You can then browse the category you are interested in or use the “search” button on the Catawiki website.

What is an auction?

The idea behind the auctions is: “Whoever offers more wins the object!”

Rules to follow

Below we will analyze the few rules to follow to manage an auction:

  • Registration: You must be registered with Catawiki to take advantage of the services it offers. Registration is FREE and you can do it by clicking here.
  • Minimum value: In order to open an coins online auctions you must have a minimum value that Catawiki sets at €50.
  • Estimation: Each item is verified by experts in the field to ensure its authenticity and value.
  • Reserve price: A minimum amount to be reached is set. If the minimum amount is not reached, the item is not sold.
  • Time: An end date limit of each auction is always set.
  • Transparency: Shipping costs and percentages retained by the platform are public and indicated in the auction.

It’s all clear, isn’t it?

Now let’s look at the various step-by-step points so you can get ready for your first Auction!

How to sign up on Catawiki

The first thing to do on the Catawiki site is to sign up.

You need to be a registered user to conduct online auctions, buy or sell items.

How to register

Creating your own account is now completely free, you can register as a Seller or as a Bidder, your choice:

Done?

Welcome to the biggest European community for buying and selling coins at Auction!

How to bid on Catawiki Coins Online Auctions

Now that you are registered, start browsing to find the coin or lot of coins you are interested in. Once you have identified the auction with the subject of your wishes, you have two options in order to bid:

  • Automatic offer: with this method you enter the maximum price you are willing to spend to get the chosen item. This is a simple and intuitive way that allows you to set your maximum budget immediately and allows you to follow multiple online auctions at the same time and not miss other opportunities.
  • Direct bid: the classic method where each time you enter the amount you are willing to offer. If the amount we entered is exceeded by another higher bid, you must make another direct bid to go back to the top as the highest bidder.

Value Estimation

Each object is evaluated by a team of experts who verify its authenticity and the right value. Therefore, both the seller and the bidder have the necessary support to properly manage the object in the auction, without risk.

Expiring of the auction

Bids must be made within the end of auction time limit. You can also be updated about the immediate expiration of an auction by email or with other notifications on your mobile.

The reserve price:

The item you are following has a reserve price set by the seller. A minimum amount below which the seller is not willing to go down. Therefore, in order to be able to win the item you must reach or exceed the reserve price set by the seller. If the reserve price is not reached, the item is not sold.

The minimum value:

The minimum estimated value of the items put up for auction is €50.

This means that in order to open a coins online auctions it is necessary to have an item or a lot of items with an estimated minimum value of 50€. Then it will be at the discretion of the seller to set the reserve price, which may even be lower than 50 €!

It also ensures that the provider is aware of the minimum value of the object.

Other features of Catawiki Auctions

  • All auctions start from 1€
  • You can set a reserve price, and only if you reach the reserve price the item will be sold.
  • In case of problems (shipments, payments, etc.) Catawiki is a mediator between seller and buyer. It then retains the amount paid and blocks the item until the transaction has been completed correctly and completely.

How to pay on Catawiki Online Auctions?

The platform accepts payments by bank transfer or credit card.

Commissions on Catawiki Auctions

Just as with real auctions, a buyer who buys an item in an online auction on Catawiki must pay an auction fee of 9% for each item awarded. In practice, the costs for those who buy are summarized as follows:

  • The cost of the item, in other words the price at which the auction ended.
  • The auction fee of 9%

For the seller there is a commission of 12.5% but only if the item is sold.

Transparency:

The buyer’s commission is a small fee to be paid to support the service of object verification by experts, as well as the entire platform. An expert’s report, for some rare or valuable items, reassures the buyer that he can then concentrate on the auction completely and without any concerns of any kind. Keep in mind that selling the item through a real auctioneer would involve the payment of commissions from 20% up to 50%.

Customer Care on Catawiki Online Auction

The platform has a fast and always available assistance to users who want to ask questions. Usually you will receive an answer to your support email within 2 days.

If you have sold an item you will have to send it and then wait for the payment of the same item from Catawiki. The system will wait for the recipient to receive the goods before transferring the money to your account. This eliminates problems due to late shipping or damaged items.

In short, both buyers and sellers are highly protected.

The sellers are serious and professional and the categories and catalogues of lots at auction are many.

Now you can play your first Auction! Excited?

➡ Register as a seller here.

➡ Register as a buyer here.

The collection is born from the need to transform the flow of one’s existence into a series of objects saved from dispersion, or into a series of written lines, crystallized, out of the continuous flow of thoughts. (Italo Calvino)


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Autore dell'articolo

Marco Salvatori
Marco Salvatori

I don't like to call myself a Numismatic but rather a passionate collector of italian lira, modern and even ancient coins. I love studying the history of our country through coins and each piece tells me its story.

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