Online Auctions: How do Catawiki Auctions Work?

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If you want to sell your coins or buy new coins to add to your collection, you are in the right place because on this page we will explain how to do it and what tools to use to enter the world of Online Coin Auctions.

In particular, we will talk about Catawiki Auctions, which today is the global reference for online auctions of collectible items.

Today, we can distinguish two major giants in the Online Auction market; the most well-known was the Ebay site, which collects thousands of bids daily. To use a metaphor, Ebay is like a large fish market where every single fisherman tries to sell their catch to the highest bidder. It often consists of a hodgepodge of items of dubious origin and quality.

However, since 2008, a new portal has emerged that has literally transformed the way online auctions are managed, we are indeed talking about Catawiki Auctions which has made the negotiation more secure and reliable by simply introducing the concept of Supervisor.

The Supervisor is nothing more than an expert in their category who is tasked with estimating the item proposed for auction and validating the auction proposal. In this way, the buyer has the guarantee that the awarded item actually has the declared value.

To return to our metaphor, it is as if there were a guarantor alongside the fisherman who confirms the origin and quality of the fish sold.

Moreover, Catawiki acts as a mediator between seller and buyer, technically sending the awarded item only after receiving the bidder's payment and paying the seller only after the correct delivery of the item in question.

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

Now let's talk to the collector in you.

Have you ever participated in an auction?

The world of coin auctions is truly fascinating. From the coin auction page, you can see which auctions are currently ongoing, and you can get an idea of the incredible variety of pieces, countries, and history that are available for all collectors or enthusiasts.

If you are here, you probably want to learn the tricks of the trade, those little tips that will make your lot more appealing and thus increase the chances of turning your great passion into a small/large business. Or maybe you simply want to acquire the necessary tools to recognize a good deal.

We do not promise you miracles; however, our task on this page will be to give you an overview of the potential that the Catawiki auction platform offers you.

Are you ready? Let's start with the basics.

How Catawiki Auctions Work

On the Catawiki website, you can sell or buy items at auction. A registered user can then place a bid on an item they are interested in or put an item or a lot of items they want to sell up for auction. Therefore, the user has two opportunities:

  1. Sell
  2. Buy

The Catawiki site distinguishes various categories. This means that each item put up for auction belongs to a specific category. The largest categories are classic cars, antique items, art objects, jewelry, watches, books, and of course rare coins and rare stamps. You can find niche items, vintage souvenirs, and objects you never would have imagined existed.

No collectible item was born for collecting purposes.
(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 principle on which auctions are based is: “Whoever bids the highest wins the item!”

The Rules to Follow

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

  • Registration: You must be registered on Catawiki to take advantage of the services it offers. Registration is FREE and you can do it by clicking here.
  • Minimum value: To open an auction, it is necessary for it to have a minimum value.
  • Estimation: Each item is verified by industry experts to ensure its authenticity and value.
  • Reserve price: A minimum amount is set to be reached. If the minimum amount is not reached, the item is not sold.
  • Time: A deadline for the end of the auction is set.
  • Transparency: Shipping costs and the percentages retained by the platform are public and indicated in the auction.

All clear, right?

Now let's look at the various points step by step so you can prepare to face your first Auction!

How to Register on Catawiki

The first thing to do on the Catawiki site is to register.

You must be a registered user to participate in online auctions, buy or sell items.

Registration:

Creating your account is now completely free, you can register on this page (click here)

Done?

Welcome to the largest European community for buying and selling coins at auction!

How to Bid on Catawiki Online Auctions

Now that you are registered, start browsing for the coin or lot of coins that interests you.

Once you have identified the auction with the item of your desire, you have two bidding options:

  1. Automatic Bid: with this method, you enter the maximum price you are willing to spend to obtain the chosen item.
    This is a simple and intuitive way to immediately establish your maximum budget and allows you to follow multiple online auctions simultaneously without missing other opportunities.
  2. Direct Bid: the classic method where you enter the amount you are willing to offer each time. If the amount we entered is surpassed by a higher bid, you must make another direct bid to rise back to the top as the highest bidder.

The Estimate

Each item is evaluated by a team of experts who verify its authenticity and fair value. Thus, both the seller and the bidder have the necessary support to manage the auction item correctly, without risks.

The Time

Bids must be made before the auction deadline. You can also be updated on the immediate expiration of an auction via email.

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. Therefore, to win the item, it is necessary to 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 for coins put up for auction is €50

This means that to open an auction, it is necessary for it to have an item or a lot of items with a minimum estimated value of €50. Then it will be at the seller's discretion to set the reserve price, which could also be lower than €50!

It also ensures the bidder is aware of the minimum value of the item.

Other Features of Catawiki Auctions

  • All auctions start from €1
  • It is possible to set a reserve price, only reached when the item will be awarded.
  • In case of problems (shipping, payments, etc.), Catawiki is the mediator between seller and buyer. It therefore retains the amount paid and holds the item until the transaction is completed correctly and fully.

How to Pay on Catawiki Online Auctions?

The platform accepts payments via bank transfer or credit card.

Fees on Catawiki Online Auctions

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

  • The cost of the item, that is, the price at which the auction concluded.
  • The auction fee of 9%

For sellers, there is a fee of 12.5% but only if the item is sold.

Transparency

The buyer's fee is a small amount to pay to support the verification service of items by experts, as well as the entire platform. An expert appraisal, for some rare or valuable items, reassures the buyer who can then focus completely on the auction without any worries. Keep in mind that selling the item through a real auction house would involve paying fees from 20% to 50%.

How to Evaluate Your Coins

Many times our readers contact us to request evaluations of their coins. It is always a great idea to research and find the right evaluations if you have rare, special, or uncommon coins. Our policy is not to provide remote evaluations of coins; sometimes we limit ourselves to giving advice or guidance. However, requests are often so numerous that we cannot fulfill them all.

So, how do I evaluate my coins? There are various ways…

  1. Do an evaluation yourself by consulting our ebooks with the quotes or the pages of our site with the coin value tables.
  2. Consult an expert numismatist who will provide an evaluation for a fee.
  3. If you cannot afford to pay for an evaluation, you have the alternative of point 1 described above, or you can contact the experts at Catawiki. You register on the site (from this page) and receive a free consultation and estimate, which is obviously reserved only for potential sellers. So after registration, immediately create a listing and attach a message asking for the coin's evaluation. This is the fastest way to get your coins evaluated.

Customer Support for Online Auctions on Catawiki

The platform has a quick and always available support for users who want to ask questions. Usually, you receive a response to the support email within 2 days.

If you have sold an item, you will need to ship it and then wait for the payment for that item from Catawiki. The system will wait until the recipient has received the goods before transferring the money to your account. This way, problems due to late shipments or damaged items are eliminated.

In short, both buyers and sellers are well protected.

Sellers are serious and professional and the categories and catalogs of auction lots are numerous.

Now you can face your first Auction! Excited?

➡ Register on this page.

The collection arises 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, outside the continuous flow of thoughts. (Italo Calvino)

Didn't find what you were looking for? Check these topics:

  • To access the registration page of Catawiki, click here.
  • To see which coins are currently up for auction, click here.
  • To see how to buy a rare coin click here: buy coins.
  • To see how to sell your coins click here: sell coins

Where to Sell or Buy Coins

Do you own coins like these (or maybe lots or rare unique pieces)? Turn your passion into profit with online auctions! Have fun selling your treasures or find great deals to grow your collection. For years we have trusted this auction portal, our trusted partner – the world's largest coin auction site. Click here to register for free and browse the auctions: it's simple, exciting and more rewarding than you might imagine!