How to Maximize Profits Selling a 1705 Brunswick-Lüneburg-Celle 2/3 Thaler (KM17) at Auction: An Auction House Director’s Insider Guide

There’s a world of difference between listing a coin on eBay and consigning it to a major auction house. The gap isn’t just about fees or audience size — it’s about how the coin is positioned, presented, and sold. Let me walk you through how I’d approach getting the highest possible hammer price for a piece like this.

I’ve spent over two decades behind the counter of one of Europe’s leading numismatic auction houses, and if there’s one thing I’ve learned, it’s that the journey from discovery to hammer fall is far more nuanced than most collectors realize. The thread we’re looking at today — a straightforward “ID Help please” post featuring a 1705, 2/3 Thaler from Brunswick-Lüneburg-Celle — is a perfect case study. On the surface, it seems modest: a German States silver piece catalogued at roughly $90 in VF condition according to a 1997 Krause guide, with recent auction realizations hovering around 100€ (approximately $120) before fees. But I’ve seen coins of this exact caliber fetch two, three, even five times their expected value when the consignment strategy is executed correctly. The difference is never just the coin — it’s the presentation.

What follows is everything I know about maximizing returns at auction. Whether you’re sitting on a single 2/3 Thaler or an entire collection of German States silver, these principles will fundamentally change how you think about selling.

1. Understanding Buyer’s Premiums: The Hidden Engine of Auction Revenue

Let’s start with the topic that generates the most confusion among first-time consignors: the buyer’s premium.

When you see a coin listed as having sold for “100€ plus auction fees (usually around 20%),” that 20% is the buyer’s premium — a percentage added to the hammer price that the buyer pays on top of the winning bid. This is not a fee that comes out of your pocket as the seller. It is charged to the buyer, and it exists to cover the auction house’s operational costs: insurance, marketing, catalogue production, venue rental, staff, and expert authentication.

Here’s what matters to you as a seller:

• Buyer’s premiums typically range from 18% to 26%, depending on the house, the sale format (in-person vs. online), and the country. In the United States, 20% is standard at major houses. In Europe, rates can climb to 25% or even 27% for lower-value lots.
• The buyer’s premium does not reduce your hammer price. If your 2/3 Thaler hammers at 100€, you receive the seller’s commission calculation based on 100€, and the buyer pays an additional 20€ (or whatever the rate is) on top.
• Higher buyer’s premiums can actually benefit you. Auction houses that charge robust premiums often reinvest that revenue into superior marketing, broader bidder outreach, and more prestigious sale events — all of which drive competitive bidding and higher hammer prices.

In my experience, consignors who fixate on the buyer’s premium as “wasted money” are missing the bigger picture entirely. The premium funds the ecosystem that makes your coin visible to the right buyers. A coin buried in a no-name online listing with 0% buyer’s premium will almost always underperform the same coin in a well-promoted sale with a 25% premium.

How Buyer’s Premiums Vary by Platform

The structure differs significantly across platforms, and understanding these differences helps you choose where to consign:

1. Major auction houses (Künker, Sincona, Heritage, Stack’s Bowers): 20–26% buyer’s premium, with a sliding scale for lower-value lots in some cases.
2. Mid-tier European houses: 18–22%, sometimes with a flat fee added.
3. Online-only platforms (MA-Shops, Sixbid, Numisbids): 15–20%, lower overhead but also lower bidder engagement.
4. eBay: No buyer’s premium, but final value fees of 12–15% are charged to the seller, plus payment processing fees. The “no premium” appearance is misleading — the costs are simply shifted.

The takeaway? A buyer’s premium is not a penalty — it’s an investment in your coin’s visibility and, ultimately, its hammer price.

2. Seller’s Commissions: What You Actually Take Home

Now let’s talk about the fee that does affect your bottom line: the seller’s commission (also called the vendor’s commission or consignor’s fee).

At most major auction houses, the seller’s commission ranges from 0% to 20%, depending on the value of the consignment, your relationship with the house, and the specific terms negotiated. Here’s the breakdown I typically see:

• High-value consignments (€10,000+ total): 0–5% commission, sometimes with a “no fee” guarantee to attract major collections.
• Mid-range consignments (€1,000–€10,000): 10–15% commission.
• Single-item or lower-value consignments (under €1,000): 15–20% commission, sometimes with a minimum flat fee per lot (e.g., €25–€50 minimum).

For a coin like the 1705 2/3 Thaler in VF, expected to hammer around 100–120€, you’re likely looking at the higher end of the seller’s commission scale. This is precisely why lot grouping is one of the most powerful strategies I recommend to consignors. If you have five German States thalers instead of one, bundle them into a single lot. The perceived value increases, the commission rate often decreases, and the lot becomes more attractive to specialized collectors who want to acquire multiple pieces in one transaction.

Negotiating Your Commission

Here’s an insider tip that most first-time consignors don’t know: commission rates are almost always negotiable, especially if:

1. You are consigning multiple items or an entire collection.
2. You have a long-standing relationship with the auction house.
3. The items are highly desirable and likely to generate competitive bidding.
4. You are willing to accept a slightly lower reserve price.

Always ask. The worst they can say is no. In my career, I’ve negotiated commission rates down by 5–10 percentage points for consignors who simply had the confidence to ask. That’s real money left on the table if you don’t.

3. Auction Timing: The Single Most Underrated Variable

I cannot overstate this: when you sell matters almost as much as how you sell. I’ve watched identical coins produce dramatically different results based solely on which sale they appeared in.

Auction houses operate on annual calendars, and the timing of your consignment relative to those calendars can dramatically impact your hammer price. Here’s how I think about timing:

The Annual Auction Cycle

Most major numismatic auction houses hold sales on a predictable schedule:

• January–March: Post-holiday sales, often featuring more affordable material. Bidders are recovering from holiday spending, so competition can be softer — but serious collectors are actively buying again.
• April–June: Spring sales, often the most competitive period. Major collectors return to the market, and trade shows like the Berlin World Money Fair in February generate fresh demand.
• July–August: Summer slowdown. Fewer major sales, reduced bidder participation. Generally the worst time to consign unless your coin fits a specialized summer thematic sale.
• September–December: The golden period. Major houses schedule their flagship autumn and pre-holiday sales. Bidder activity peaks, media coverage is highest, and the “end of year acquisition” mentality drives aggressive bidding.

For a historically significant coin like the 1705 Brunswick-Lüneburg 2/3 Thaler — a piece connected to the future King George I of Great Britain — timing your consignment to coincide with a British historical sale or a Hanoverian/German States specialty auction can add 30–50% to the hammer price. The thematic context creates a narrative that resonates with specialized bidders.

Event-Driven Timing

Beyond the annual cycle, watch for specific events that can amplify interest:

1. Anniversaries: A sale timed around a significant anniversary related to the coin’s subject matter — such as the Hanoverian succession in 1714 — can attract media attention and premium bidders.
2. Exhibition openings: If a major museum is opening an exhibition related to the Holy Roman Empire, the House of Hanover, or early 18th-century European history, ride that wave of public interest.
3. New publications: When a new book or scholarly article is published on German States coinage, the market responds with increased demand.

In my experience, the difference between selling in August versus November for a coin like this can be the difference between a 90€ hammer and a 150€ hammer. Patience is profit.

4. Professional Photography: Your Coin’s First Impression

Let me be blunt: bad photography kills lots. I have seen coins that I knew were worth €500 hammer at €150 simply because the consignor submitted blurry, poorly lit smartphone images. Conversely, I have seen average coins punch well above their grade because the photography was exquisite.

Here’s what professional numismatic photography requires:

Equipment and Setup

• Macro lens: Essential for capturing fine detail — mint marks, die characteristics, edge lettering, and surface quality.
• Diffused lighting: Soft, even lighting eliminates harsh reflections and reveals the true color, patina, and luster of the silver. Professional photographers use light tents or dual diffused LED panels positioned at 45-degree angles.
• Neutral background: Black or dark gray for silver coins; the contrast makes the coin “pop” and allows bidders to assess color and toning accurately.
• Tripod and remote shutter: Eliminates camera shake at high magnification.

What to Capture

For a coin like the 1705 2/3 Thaler, I recommend the following shots:

1. Obverse, full frame: Show the complete design including all legends, portraits, and mint marks. For this coin, the portrait of the Duke of Brunswick-Lüneburg is the focal point.
2. Reverse, full frame: Capture the coat of arms, denomination, and date clearly.
3. Edge shot (if applicable): Some 2/3 Thalers have edge lettering or ornamentation that adds to their appeal.
4. Detail close-ups: Highlight any particularly sharp areas — a well-struck portrait, clear legends, or attractive toning. Also photograph any flaws honestly; hiding damage erodes trust and leads to returns.
5. Scale reference: Include a ruler or common object for size reference, especially for online-only sales where bidders cannot handle the coin.

The Cost of Professional Photography

Professional numismatic photography typically costs €15–€50 per coin, depending on the number of images and the photographer’s expertise. For a coin expected to hammer at 100–120€, this is a significant percentage of the expected return. However, I have consistently seen professionally photographed lots outperform amateur images by 20–40%. The math is simple: a €30 photography investment that generates an additional €30–€50 in hammer price is an exceptional return.

Many auction houses include professional photography as part of their consignment package, especially for higher-value lots. Always ask — it may already be included in your terms.

5. Catalogue Descriptions: Writing the Story That Drives Bids

This is where the auction house director in me gets most passionate. The catalogue description is not a technical report — it’s a sales pitch backed by scholarship. The best descriptions marry numismatic precision with narrative storytelling, and they transform a “1705 German States 2/3 Thaler” into an experience that bidders want to own.

The Anatomy of a Winning Description

Here’s how I would write the catalogue description for this specific coin, and why each element matters:

LOT 247. BRUNSWICK-LÜNEBURG-CELLE. George Ludwig (later George I of Great Britain), 1698–1705.

2/3 Thaler, 1705. Welter 2153. KM 17.

Attractively toned VF-XF with underlying luster visible in the protected areas. Struck during the final year of George Ludwig’s tenure as Duke of Brunswick-Lüneburg, prior to his elevation as Elector of Hanover in 1708 and, ultimately, his accession to the British throne in 1714. The coin thus represents a tangible artifact of the Hanoverian succession — the Protestant inheritance that shaped the future of the British monarchy. A historically significant issue with strong collectibility in both the German States and British historical markets.

Let me break down why every sentence in that description serves a purpose:

• “George Ludwig (later George I of Great Britain)”: This single parenthetical transforms a regional German coin into a piece of British royal history. Suddenly, it’s not just for German States specialists — it’s for collectors of British monarchy artifacts, Hanoverian memorabilia, and European political history. That expanded audience is where the premium bids come from.
• “Welter 2153. KM 17.”: The catalogue references — Welter for German States thalers, Krause-Mishler for the standard world coin reference — provide immediate identification for serious collectors and signal that the auction house has done its homework.
• “Attractively toned VF-XF with underlying luster”: This is honest, descriptive grading language. “Attractively toned” signals aesthetic appeal and eye appeal beyond the technical grade. “VF-XF” suggests the coin sits at the higher end of VF, perhaps bordering on XF — a subtle but effective positioning. “Underlying luster” indicates original mint surfaces, which is a significant numismatic value driver.
• The historical paragraph: This is the narrative hook. It connects the coin to the Hanoverian succession, the Act of Settlement 1701, the death of Queen Anne in 1714, and the broader story of Protestant succession in Britain. Collectors don’t just buy coins — they buy stories. A well-crafted historical context can add 20–30% to the hammer price by expanding the potential buyer pool far beyond narrow specialists.

Common Catalogue Description Mistakes

Over the years, I’ve reviewed thousands of catalogue descriptions. The most common mistakes I see are:

1. Overgrading: Calling a VF coin “XF” or “AU” destroys credibility and leads to returns, negative feedback, and lost future business. Always grade conservatively and let the photography speak to the coin’s true appeal.
2. Under-describing: A one-line description (“Brunswick-Lüneburg, 2/3 Thaler, 1705, VF”) tells the bidder nothing they couldn’t learn from the title alone. You’re leaving money on the table.
3. Fabricating rarity: If the coin is common — as this one appears to be, based on Krause pricing — don’t claim it’s “rare” or “scarce.” Instead, emphasize historical significance, aesthetic appeal, or market demand. There are many ways to create desirability beyond rarity, especially when the strike and eye appeal are strong.
4. Ignoring the reference numbers: Serious collectors search by KM number, Welter number, and other catalogue references. Omitting them makes your lot invisible to database-driven buyers.

6. Choosing the Right Auction Platform for Your Coin

Not all auction houses are created equal, and the right choice depends on your specific coin, your target market, and your timeline. Let me outline the hierarchy as I see it from the inside:

Tier 1: Major International Houses

Examples: Künker (Osnabrück), Sincona (Zürich), Heritage Auctions (Dallas), Stack’s Bowers (Costa Mesa), Baldwin’s (London).

Best for: Coins with historical significance, strong provenance, or exceptional eye appeal. These houses have global bidder networks, produce lavish catalogues, and attract deep-pocketed collectors. For a coin connected to George I of Great Britain, a house like Baldwin’s (London) or Künker (with its strong German States clientele) would be my first choice.

Typical seller’s commission: 10–15% for mid-range lots; negotiable for higher-value consignments.

Pros: Maximum exposure, professional cataloguing, established trust, international bidder base.

Cons: Longer lead times (3–6 months from consignment to sale), higher minimum lot values at some houses, less flexibility on reserves.

Tier 2: Regional Specialty Houses

Examples: Various German, British, and European houses specializing in specific regions or periods.

Best for: Coins with strong regional appeal. A Brunswick-Lüneburg thaler is a perfect fit for a German States specialist sale.

Typical seller’s commission: 12–18%.

Pros: Targeted marketing to the right audience, deep expertise in the specific area, often more personalized service.

Cons: Smaller bidder pool than Tier 1, less international reach.

Tier 3: Online Platforms and Hybrid Sales

Examples: Sixbid, Numisbids, MA-Shops, eBay (not technically an auction house, but a relevant comparison).

Best for: Quick sales, lower-value lots, or coins where the consignor wants to set a fixed price rather than risk an open auction.

Typical seller’s commission: 10–20% (or equivalent final value fees on eBay).

Pros: Fast turnaround, lower barriers to entry, global online reach.

Cons: Less prestige, no physical catalogue, reduced storytelling opportunity, higher risk of underperformance for historically significant pieces.

For the 1705 2/3 Thaler specifically, I would recommend a Tier 1 or Tier 2 house with a specialty German States or European historical sale. The George I connection gives it cross-market appeal that a generic online listing would completely waste.

7. Reserves, Estimates, and the Psychology of Bidding

One of the most common questions I receive from consignors is: “What should I set as my reserve price?”

The reserve is the minimum price at which the auctioneer will sell the lot. If bidding doesn’t reach the reserve, the lot is “bought in” (unsold). Setting the reserve correctly is a delicate balance:

• Too high: The lot doesn’t sell. You’ve wasted the consignment fees, photography costs, and months of waiting.
• Too low: You leave money on the table. A low reserve can actually suppress bidding by signaling low value to experienced collectors.
• Just right: The reserve is set at or slightly below the realistic market value, giving the auctioneer room to build momentum while protecting your minimum acceptable return.

For a coin with a recent auction history of ~100€ hammer, I would recommend a reserve of 70–80€ and a published estimate of 100–150€. The published estimate serves as a psychological anchor — it tells bidders that the coin is worth at least 100€, while the lower reserve ensures the lot sells even if bidding is modest.

The Power of the Low Estimate

Here’s a counterintuitive auction house secret: setting the low end of the estimate slightly below the expected hammer price can actually increase the final result. Why? Because it attracts more initial bids. When a lot is estimated at “100–150€” and the first bid comes in at 80€, the bidder feels they’re getting a bargain. That emotional trigger — the perception of value — drives competitive bidding. I’ve seen lots estimated at 100–150€ hammer at 200€+ because the low estimate drew in bidders who then got caught up in the competition.

Conversely, a lot estimated at “150–200€” with a 150€ reserve might attract zero bids because no one wants to start at the top of the range. The psychology of auction bidding is real, and the best auctioneers exploit it masterfully. The published estimate isn’t just information — it’s a strategic tool.

8. Provenance and Documentation: The Multiplier Effect

Finally, let me address the often-overlooked factor of provenance — the documented history of ownership. This is one of the most powerful value multipliers in numismatics, and most consignors don’t take full advantage of it.

If your 2/3 Thaler comes with any of the following, its value increases significantly:

• Previous auction records: A lot ticket or catalogue page showing the coin sold at a reputable house 10, 20, or 50 years ago adds legitimacy and historical depth.
• Collection labels or envelopes: Old collector’s tickets, especially from notable collections, are highly prized. A coin that was part of a famous collection — such as the John Jay Pittman collection or the Eliasberg collection — can command a 20–50% premium based on provenance alone.
• Certification: A slab from NGC, PCGS, or a European equivalent (e.g., Bode, Erbstein) provides independent authentication and grading. For a coin like this, NGC certification would be my recommendation, as their world coin department is well-respected and their population reports help establish relative rarity.
• Published references: If the specific die variety — Welter number, rare variety identifiers, etc. — is cited in a scholarly publication, mention it in the consignment notes.

Even if you don’t have formal provenance, document everything you do know. When did you acquire the coin? From whom? What was the context? Any information you can provide to the auction house enriches the catalogue description and builds bidder confidence. A coin with a story — even a modest one — always outperforms a coin without one.

Conclusion: The 1705 Brunswick-Lüneburg-Celle 2/3 Thaler as a Case Study in Strategic Selling

Let’s bring it all together. The coin at the center of this forum thread — a 1705, 2/3 Thaler from Brunswick-Lüneburg-Celle, KM 17, Welter 2153 — is, on its surface, a modestly priced German States silver piece. The Krause catalogue lists it at $90 in VF, and recent auction results suggest a hammer price around 100€ ($120) before fees.

But this coin is far more than its catalogue value suggests. It was struck in the final year of George Ludwig’s reign as Duke of Brunswick-Lüneburg — the man who, just nine years later, would ascend to the British throne as King George I, founding the Hanoverian dynasty that would rule Britain for nearly two centuries. The coin is a tangible artifact of one of the most consequential successions in European history: the Protestant inheritance that bypassed dozens of Catholic claimants to place a German prince on the English throne. That story — properly told — has real numismatic value.

When you consign a coin like this to a major auction house, you’re not just selling a piece of silver. You’re selling a story — and the auction house’s job is to tell that story in a way that compels bidders to reach deeper into their pockets.

Here is my actionable checklist for maximizing the return on this specific coin:

1. Consign to a Tier 1 or Tier 2 house with a specialty German States or European historical sale. Target Baldwin’s, Künker, or Sincona.
2. Time the consignment for an autumn sale (September–November) to maximize bidder activity.
3. Invest in professional photography — at minimum, sharp obverse and reverse shots with diffused lighting on a dark background that captures the luster and patina accurately.
4. Provide the auction house with the full historical context: George Ludwig’s future as George I, the Hanoverian succession, the Act of Settlement 1701, and the significance of the 1705 date as the final year of his ducal title before becoming Elector.
5. Include all reference numbers: KM 17, Welter 2153, and any die variety identifiers.
6. Set a conservative reserve (70–80€) with an attractive published estimate (100–150€) to encourage competitive bidding.
7. Consider NGC certification if the coin grades VF or higher, to provide independent authentication and access to NGC’s collector database.
8. Negotiate your seller’s commission — even on a single-item consignment, ask for a reduction. Many houses will offer 1–2% off for new consignors.

Follow these steps, and I believe this coin — which might fetch $90 on eBay or 100€ in a mediocre online sale — can realistically achieve 150–200€ at a well-positioned major auction. That’s not speculation; it’s the result of two decades of watching the same coins perform differently based solely on how they’re presented to the market.

The difference between a good sale and a great sale is never luck. It’s strategy. And now you have the playbook.

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