Confusion - Teletrade Auction

Coinster

Hi All,

I'm not sure how to perceive a couple of auctions that took place on teletrade last night and perhaps some of you could shed some light on it. I do very little bidding on teletrade, but do enjoy watching the bidding on some of the very high end pieces that come across from time to time.

What is up with the 4 PCGS PR70DCAM Moderns that were listed but can't be found now? The four coins I'm referring to are as follows:
1987 Constitution $1 - PR70DCAM (Pop27) - Ended $2150
1997 Botanic Gardens $1 - PR70DCAM (Pop1) - Ended $7200
1988 Olympic $5 - PR70DCAM (Pop1) - Ended $13000
1998 $1 Silver Eagle - PR70DCAM (Pop2) - Ended $4500

These coins are no longer listed on the prices realized listing. Does this mean these coins did not sell??? Or to simply protect buyers bid or what?

Which leads to my next question: How did these coins not sell at these prices??? $13000 for a 1988 coin? $7200 for a 1997? Even though these are pop1s? I don't understand. I also realize that PCGS isn't grading PR70 at this time (or extremely limited grading) and perhaps this is driving the prices through the roof, but for these kinds of prices???

Comments please? Thanx

John

CarlWohlforth

My guess is that the coins didn't reach their reserve so weren't sold.

MAULUMALL

Teletrade,in my opinion, is not an auction house / site.I have bid on a few coins when I first started collecting but the items were apparently bought back by the person who put them up for "auction".(I equate this to a shill bidder)
This is not a slam at tellatrade.But if I don't agree with your policy I don't frequent your store.

As Russ would now say "Just my 2 cents".

Tade

I bought 2 commemoratives, a proof and mint, both PCGS 69, last night for a total under $50.00. I rather like Teletrade and found that I do save as compaired to PCGS Coin Guide. As for thoes coins you mentioned, I did not see them, nor would I bid that kind of cost.

Placid

Link to the $10-say's not sold

RLinn

Teletrade allows sellers to list items with reserve a price. If reserve is not met, the item is listed as not sold (just like eBay).

BSqr

Here is a thread I started yesterday on the subject. The 88 $5 Oly gold and the Bontanical $1 are both pop One coins. Neither coin sold at auction. Since both are pop 1 coins I believe the sellers were feeling out the market yesterday to see what kind of price the coins might fetch.

RotatedRainbows

Teletrade only lists the price of coins that were sold to a bidder be it a real buyer or a shill seller, if a seller puts a reserve on it and the coin does not meet the sellers reserve then the price will not be listed in the prices realized.

relayer

Member-

I rather like Teletrade and found that I do save as compaired to PCGS Coin Guide

Don't confuse the PCGS price guide with reality, especially with modern commemoratives.

RLinn

<< <i>Don't confuse the PCGS price guide with reality, especially with modern commemoratives. >>

And the choir said...."Amen"