Your Thoughts on Teletrade Auctions?

chiefbob

I searched the archives but the postings were old. So, would you put your coin on eBay or Teletrade? I'm asking as I already listed mine on eBay but wonder if I should have tried Teletrade?

One of the SE Registry Set collectors sent me a PM and mentioned related auction prices there. They were pretty high. But, I also think that kind of buyer (with big bucks for a reg set) would more than likely scan both sites in their search.

I'm not complaining about eBay. My listing already seems to have started a bidding war with 8 days left!

Bob

DHeath

Teletrade is less work for the seller, but the fees are higher. They take the picture, write the ad copy, and manage the auction. Ebay gives you more control over the auction, with BIN, reserve, starting bid, the pictures you use, etc. Both have advantages and disadvantages. BTW - with Teletrade, you'll be waiting at least 6 weeks for your money. Several weeks before your coins are placed in an auction, and approximately 4 weeks until you are paid. They allow time for returns before paying the seller. They do pay you faster if you have coins listed in upcoming auctions, and have a quick pay deal in which they'll advance you part of your proceeds for a fee. Junk sells better on ebay IMO. The nice stuff is pretty easy to sell either place. Teletrade is easy for the hands off folks. Ebay is more work. Both can be effective.

wayneherndon

The advantage of Teletrade is that you also get bidders without computer access. Teletrade has been around since long before the internet was popular. They send printed catalogs to a large mailing list and people can bid by phone. Being able to bid at Teletrade via the web is a relatively new feature. Thus, I do believe you reach some potential customers through Teletrade that you don't reach through eBay.

The disadvantages of Teletrade are their high fees (nearly 20% between buyer and seller), poor imaging (and often none), expensive return policy, setting a reserve is expensive (you have to buy the coin back and pay a buyback fee), very limited descriptions of coins, takes longer to sell and get your money (since they have to schedule your coin in a printed catalog, mail it, etc.) and I'm sure I could come up with a few more if I thought a little longer.

WH

chiefbob

Don & Wayne,

Thanks for the very detailed analysis! I seem to remember Teletrade from years ago, but didn't know if it was the same company or not. You both have convinced me not to go that route.

Bob

Bulldog

Chief,

I think that you are better off where you are. Perhaps if you had a serious amount of coins that you wanted to part with, you could play both ends.

I think that you are fine where you are and your coin has met your expectation already on Ebay.

Bulldog

wayneherndon

chiefbob,

I didn't really mean to advocate one way or the other--just advise you as to the pros and cons. I watch both Teletrade and eBay pretty closely and sometimes Teletrade results in the higher sale and sometimes eBay does. One has to watch a particular series or coin type in both formats for quite awhile to get a general feel about which coins do best where. I think you're coin will sell well either place.

WH

Placid

As a buyer with teletrade you don't have to concern yourself with the possible no coin for your money ripoff.

Dog97

What Dheath & wayneherndon said.
Sometimes it looks like a coin brought a high price on TT but I don't trust them because cosignors can bid on thier own coins (shill) and you don't even know.
Like eBay though you can get the good deal every now & again.

lordmarcovan

I'm sure both have their advantages and disadvantages, but I would choose eBay just about every time, unless I just didn't feel like doing the work.