EBay listing: “You will receive the nicest of two or more in stock”
renomedphys
Posts: 3,687 ✭✭✭✭✭
renomedphys
Posts: 3,687 ✭✭✭✭✭
Comments
Which seller?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Which coin? Sounds like they are using a "stock photo" and you won't be getting the same coin as the one being pictured. Pass.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Whatever seller it is (you neglected to post any information), I would not buy without seeing a good set of photos of the actual coin I'm buying (unless it's a very inexpensive coin, and returnable).
I didn’t want to name names, but since you asked, here’s a link:
https://forums.collectors.com/home/leaving?allowTrusted=1&target=https%3A%2F%2Febay.com%2Fitm%2F274430394013%3Fhash%3Ditem3fe5537e9d%3Ag%3A8FoAAOSw8d9gufsn%26amdata%3Denc%253AAQAIAAAA4Diq1zsmn1M8zL3KGKttIQf5JL1wc5EpHklzj71A3GHZ2ynn5oG0j7OOgcrcG7XI6SFQkz%252Ba0%252BJtB3Idt5XkksfnBloimddKyRU7GMHp0QhsPotkoymGYKRt8623FTkTSEY%252FlHqa4nQzmgrSPLvlvV9YbEWIEhbcec80rbTyfXvTFoZACeUfASINDUq3DUjEfupL9gGConJ9PxTDs0aBmV2%252FW%252BnolsB5cKvr03giMxOA7NST0R0%252BSggtAtSMEq5GKt74DHx%252B7mavTC7xjuTgEe824l7IdW86%252F1hiY1ID3DhW%257Ctkp%253ABk9SR66x1fyHYg
If you look at this seller’s other listings, they seem to say this a lot. One of his listings caught my attention as it was using a PCGS trueview of a coin I currently owned.
Empty Nest Collection
Matt’s Mattes
Depends on what it is. Most things can be bought sight unseen, but the price reflects that. Other things are just widgets and it doesn't really matter. Some things, you absolutely want to see
Looking at the linked listing, I would RUN (not walk) away, as fast as my mouse would carry me.
Why on earth would anyone consider spending that kind of money on a coin you're not even seeing a photo of, not returnable (he says in several places that it's not returnable, and in one place that you have a "5 day return privilege")?
I avoid that seller like the plague due to multiple negative experiences with them.
Nothing is as expensive as free money.
🏃♀️
I wouldn't even spend a hundredth of that without being able to see the coin I was going to get.
Isn’t that the seller that takes other listings and marks up the price (buying the coin if it sells from his store)?
Nope. Wouldn't ebay consider this a violation of the can't use a stock photo rule?
bob
I'd walk but not before messaging the seller to send me pics of the two in their certified holders and allow me to choose but that's even a stretch with pics only at that $$$ value.
Correction, RUN! Doesn't accept returns at that $$$ value. Forget that!
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
I haven't purchased from them. This type of auction would also be a hard pass for me.
Dave
Ouch!
You can bet if I’m going to spend that kind of cash, I want to see ACTUAL pics w/return privileges.
I believe I would run!😳
Buying gold sometimes states “random year”. Obviously not slabbed but I wouldn’t hesitate to buy from a reputable high volume seller if the price was right.
"I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
It works appear so. Very loosely worded too "You will receive the nicest of two or more in stock, not necessarily the imaged coin.", doesn't accept returns but then says in the listing a 5 day privileged return. When does the 5 days start and end?
The loosely worded terms plays into not providing the cert# and a buyer being able to search the cert numbers to see if he's doing the 10 percenters game.
Then there is the ambiguous return policy, which would be difficult for a buyer to meet given today's shipping services.
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
What is the 10%’ers game if you wouldn’t mind saying?
I'm guessing it just means making a 10% profit (in this case without ever owning the coin and just listing it above the price the actual seller is charging).
Never
That's a jackass offer.
In honor of the memory of Cpl. Michael E. Thompson
Correct! In federal contracting we had these slicksters we called 10 percenters. These so called vendors would call us up asking what we needed by way of supplies, didn't matter what it was, they could get it for us and typically their markup was 10% or more above retail. These 10 percenters didn't have a physical warehouse of supplies to sell. A buyer issued a purchase order, the 10 percenter found the supplies needed, purchased the supplies and had it drop shipped directly without ever physically handling the ordered supplies, but they made 10% + with no risk. The larger the order the larger the profit. Payment by the federal government was a sure thing, so really no risk.
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
Ebay has several of these type buyers. Stop and think, why would a seller make that proposal? Only one reason, I can think of, so they can send you whatever coin they wanted and certainly not the one pictured and if it is holdered as advertized, even with a different coin, the buyer is less apt to return it. I wish ebay would allow you to block sellers in quantity and not just 10.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
I found this eBay policy about selling collectible coins and currency.
If I read it correctly, the requirement for photos of the actual item only applies to "ungraded coins".
It would be nice if there were a way to have these sellers removed from eBay. Unfortunately for the rest of us, arbitrage is still a legal form of commerce, likely protected by those unseen and unsavory sorts occupying foetid cesspools like Wall Street, and Congress.
Empty Nest Collection
Matt’s Mattes
This is a perfect example of why you have to read the fine print when buying on eBay. Caveat emptor.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
What are you nuts? Buy it now never.
For those that say never, how many would buy from this guy if it were a PCGS or NGC graded coin at less than Blue Sheet wholesale price? Don't forget that PayPal and credit cards give you protection from fraud.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I simply stay away from - what I call - 'red flag' listings... Those with pictures or verbiage that immediately raises questions.... Sure, might miss a good deal, but mostly would result in less than satisfying results. Cheers, RickO
Much of coin dealing is arbitrage. Buy a coin on one side of the bourse, walk to another dealer on the other side to sell - arbitrage. Buy a coin from an estate sale and sell it on instagram - arbitrage. Buy a coin from a European wholesaler and sell it on Heritage - arbitrage.
I think the key different here is the expectation that if you offer a coin for sale that you should have it in your possession.
Actually they most likely only have the single coin. They only make the statement in order to not publish the actual cert # thus preventing the buyer from researching and finding the exact cert # being sold by Heritage in their Private Offering or by another seller at a much lower price.
BIN, never! Everything is negotiable.
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
I block this guy on all of my saved searches. He is violating eBay stock photo policy.
Check out my iPhone app SlabReader!
NOT snark; honestly trying to learn something here.
This eBay policy prohibits "stock photos" for ungraded coins.
Which eBay policy requires actual photos for graded coins?
The following are not allowed:
Check out my iPhone app SlabReader!
Looks like every item days> @jmlanzaf said:
A true Vaultboxer.
99% of the classic coin collectors here would not buy sight unseen.
Thanks for the response.
I can see how elements of the picture policy could be construed to mean that actual photos are required for graded coins. However, in my opinion, this requirement is not definitively stated.
eBay has a policy specific to collectible coins and currency. This policy explicitly states that stock photos are not allowed for ungraded coins. It does not, however, include the same prohibition in the section pertaining to graded coins. To me, this omission implies that no such requirement exists for graded coins.
Has anyone here had direct experience with eBay on this specific topic?
Anyone who thinks that’s a good deal and commits to it deserves every ounce of disappointment they receive.
NO RETURNS
THAT IS A RUN FOREST RUN............................
I don't have a problem with the "no returns" part so long as the images are of the actual item. But no returns and stock photos? Oh heck no. "Hey guys, here's a coin you can't see. I want all the money and you can't return it". Who want piece of THAT action?
RIP Mom- 1932-2012
Hard pass
I want to see the exact coin I am buying. ....NO
Take your gloves off.
I don't understand what the problem is with arbitrage. If I'm willing to pay $5000 for [an item] but am unwilling to hunt around and find someone willing to sell it for $4500, or even that the owner is unwilling to sell it to me, I'm fine paying the intermediary. Isn't that the whole point of leaving want lists with dealers?
This particular example is completely different, not least because the coins in his wheelhouse are unique and not marketed as such (different if he was offering 1977 proof sets). Another problem is that neither the presumptive buyer nor the current owner has asked this person to be his agent. And there is a very big difference between you or me contacting this guy and saying "I'd really like a 1915 Proof Lincoln. Can you go out and try to find me one for $16,000 or less?" and the way that this reads. Similarly to the owner asking this guy to consign the coin for him "and you can keep 75% of anything over $14,000."
Yes I agree with the above comment. And yes, I too engage in arbitrage. And yes daltex, the matter we are discussing here is actually a different form of arbitrage that my hasty message above would convey. It is not arbitrage so much that is the problem with this seller’s listings. It is the seemingly obvious (to some) fact that the “unique” coins pictured in his listings are obviously not the ones you will be receiving, and that having bought said item, the buyer would be left apparently without any right of refusal.
Empty Nest Collection
Matt’s Mattes