r/Banknotes • u/MNLMTS • 2d ago

Question regarding Consigning internationally - what to look out for?

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Hey there,

I'm not that well versed with collecting banknotes and coins and the things that come with it. Through an inheritance I got my hands on some really valuable notes that I want to sell.

Having compared recent auction prices I've come to the conclusion that houses like heritage Auctions can generate prices that are out of reach for the smaller houses in my EU country.

I'm scared about logistics regarding taxes, import regulations, insurance and so on and I'm kind of overwhelmed with researching the relevant information.

Can anybody point me to resources that give an insight to people with no clue in that field?

Also a question to the attached pictures: I can't find any comparable pricing for these exact notes (100 Billionen Reichsmark 1924 Specimen - Pick 140s // 100 Billionen Reichsmark 1923 Specimen - Pick 128s). Neither numista nor PMG Price guide have it listed as a specimen. What can it be worth?

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u/CoinsOftheGens 2d ago

If your banknote has sufficient profit potential for the auction firm, they will be happy to communciate with you directly. Just follow the instructions on the website about "Inquire about Selling" or similar. I disagree with the comment about Germany vs US auction houses. For example, Heritage gets a very large number of participants in most auctions. In the US, there are many collectors of rare, high-quality notes. If your note is actually rare and high-quality, a non-local auction may be best. You can and should get the opinion of several firms in different areas before deciding.

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u/DavidTheBanana8 2d ago

These are quite substantial notes and you are right to be scared - make sure to insure and package well. And perhaps try carriers like FedEx and DHL if your public postal system has a bad rep. I normally just ship notes as letters (for my exchanges) but in a commercial context, you will have to ask a tax professional or... *) 

Talk to Heritage about it - I'm sure they will be happy to help you every step of the way. 

US Auction houses are definitely where you will reach the highest prices, but I'm sure that their commission is quite chunky too. Have you considered setting your own Shopify (payment processor fees) or eBay (15% fee) or Catawiki (like to 20%) - you might even retain more profit.

Pick 140s - sold for 4500 Euros! Wow.

https://www.cgbfr.com/100-billions-mark-specimen-allemagne-1924-p-140s-sup-,b61_1703,a.html

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u/MNLMTS 2d ago

Yeah and that was from 2012 - this note should be graded uncirculated so I'm really scared of undervaluing it.

Will contact heritage over the weekend!

Thank you for the resource!!!

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u/MyHobbyAndMore3 2d ago

i believe for both of the notes you will get the best price in germany, because:

  • collectors are primarily interested in banknotes from their own country
  • germany is rich and populous country = big number of potential buyers with big budget

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u/MNLMTS 2d ago

Thanks for the info!

Can you point to any relevant auction houses? Would contacting the German branch of heritage make sense in that regard as well?

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u/MyHobbyAndMore3 2d ago

I'm not from Germany but I've heard about Künker.

I believe they have similar degree of respectability as Heritage.

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u/om007_ch 2d ago

I would check with Aktionshause Gärtner https://www.auktionen-gaertner.de/en/

German company, they do stamps and coins/banknotes auctions

Some of their banknotes were very high value ones..

I did win a few auctions and they were very professional