VAMquest.com: The Premier Morgan Dollar and Peace Dollar Auction.

Updated July 10, 2007

The mission of VAMquest.com is to provide a consistent supply of high quality, hard-to-find VAMs to all those who participate in our auctions. We’re now ready to take the next step, which is accepting more consignments. It is our hope that the consignment policies outlined here will profitably serve the interests of both bidders and consignors.

1. Potential consignors are asked to keep in mind that VAMquest.com is under no obligation to accept any particular coin or coins for any of its auctions. Stated another way, we will act as consignees only for those coins that we feel will fit within the quality guidelines we are establishing.
    
2. All consignment coins must be slabbed by one of only three different grading services: PCGS, NGC or ANACS. No raw, or "unslabbed coins," will be accepted. This is not to be construed as an indicator of what we think about grading organizations other than these three, but rather it is our policy to only include coins in the above mentioned holders.
    
3. Consignors should set a reasonable Minimum Bid price for each lot submitted to VAMquest Auctions. This Reserve must be consistent with values proscribed by us. For example, a coin that in our opinion has a value of $250 will not be accepted for consignment, if the consignor’s Reserve is set at $400. After all, our objective is to not sell over-priced numismatic items! To make this work, VAMquest must be the final judge as to what is sold on its auction site.
    
4. Space is limited in each auction. Initially, only 50-75 lots will be offered in each monthly sale, which means that we must be quite selective as to which lots are appropriate for any given auction. As an obvious example, we would not list three of the same variety in one auction. Therefore, VAMquest reserves the right to decide which coins best fit our selection criteria for any given auction. The key for us is to offer a selection of the best coins in the best possible grades at the right price. After all, exciting auctions keep VAMquest bidders coming back, and ultimately, this is in the absolute best interests of our consignors, as well!
    
5. As is often heard, "grading" is subjective. The vast majority of coins in holders from the above three grading firms fit within our parameters for their listed grades. However, VAMquest Auctions reserves the right to describe coins as it, in its sole discretion, evaluates them. If we feel a coin is overgraded, or has negative features or attributes that our buyers would want to know about, we will so describe the coin (in the same manner that we describe our coins). As a courtesy, consignors will be sent an advance copy of the auction descriptions pertaining to their coins, and have the one-time option of withdrawing any or all coins at that point.
    
6. A consignor’s fee of 10.5% will be deducted from the hammer price for each lot consigned to the auction, and the remainder will accrue to the consignor. (The hammer price is the actual price realized at the close of the auction for a particular lot, but does not include any fees added later, such as shipping and insurance fees, as well as the Buyer’s Fee.) Our pledge is to settle all accounts within 60 days of the close of each auction. Further, VAMquest,com will be responsible for collecting the funds for each coin sold, and transmitting the appropriate collected funds to the consignor.
    
7. Since there are significant costs to us whether or not a coin sells in an auction, there is a minimum fee for consigning coins to VAMquest.com of $15 per coin. For any coin that doesn’t sell, this amount will be subtracted from the consignor’s total proceeds from the auction in which the coin was offered. Again, reserve minimums should be reasonable and attractive to bidding, to insure that consignment coins do sell. In the event a consigned coin does not sell, it will be returned to the consignor at his/her expense.
    
8. Consignors are asked to contact our Consignment Director for pre-approval for all coins to be consigned to VAMquest Auctions prior to shipment to us. After pre-approval, consignments should be shipped at consignor’s expense to our mailing address, which is presently: P.O. Box 2123, North Hills, CA 91393. Coins that are then accepted for consignment and successfully sold are shipped by us to the purchaser at no shipping cost to the Consignor.
    
9. Again, we do appreciate all those who participate in our auctions, both bidders and consignors alike, and it is our hope that both continue to be well served by our monthly Internet Auctions.

For more information or to speak with a sales representantive about consignments, please e-mail us at Consignments@vamquest.com.