A sniper's mistake/nightmare: What do you do?

RGL · February 3, 2003 11:02AM

I know, you get what you deserve, but ... Went to snipe a promising NTC 1965 SMS Jeff CAM this evening, but was not struck enough by it to put in a big bid ... At any rate, I thought I put in a bid of $12.68, but somehow the keyboard or I stuttered. The 4-second snipe that was entered ended up being $126.88. Of course, I won the coin for $78.77 over a "speculator" well known to these boards who placed a big bid at the last moment. As you can see, much more than I even dreamed of paying ... But, the seller does offer a return privilege, minus postage both ways and eBay fees. Do you:

A.) Contact the underbidder and offer to sell the coin at a same price/small profit sight unseen?
B.) Buy it, and if unhappy, return it to the seller? (If accurately graded, it is worth the cost at MS-66 CAM and multiples of that price at the advertised MS-67 CAM)?
C.) Fess up to the mistake and ask the seller if he would attempt to sell it at the underbidder at his $1 lower price, with an offer to send along a few bucks for his trouble?

My own fault. I open up two screens -- one to refresh and check the latest bid and another to prepare/submit the bid and had the bid ready in plenty of time, but did not notice my mistake. Any advice?

fcloud · February 3, 2003 11:04AM

If it were me, I'd send them the cash and chalk it up to education. I would not return, nor contact the underbidder. Good luck with what ever you decide.

Russ · February 3, 2003 11:07AM

I'd contact censtles (Robert), explain what happened and let him decide. My dealings with him have been very professional, and he may surprise you by understanding and letting it slide.

Russ, NCNE

ARCO · February 3, 2003 11:09AM

you would be very uncool to return the coin. You could E-mail the second highest bidder and offer to sell it to them as you made a big mistake and didn't intend to bid so high. If no takers no big deal, you were the highest bidder by $1.00 or so, which means if you re-sell it, you will probably get very close to what you paid.

Chalk it up to experience, but doesn't seem like you lost anything more than a little time if you decide to resell it.

Tyler

Loki · February 3, 2003 11:11AM

I fully agree with fcloud. After all, someone thought it was worth around $75. You can always put it back on auction if you decide to sell.

Lakesammman · February 3, 2003 11:12AM

If I was the seller, I would appreciate knowing rather than waste the time/effort in a round trip. I would say let them know and let them either offer it to the underbidder or relist it.

braddick · February 3, 2003 11:14AM

1965 SMS Jeffersons are tough in CAM or DCAM. You might get lucky. See what the coin looks like first. (Was it the PR68?)
It might be a real nice coin for your $80.00.

It's unfair to lay it on the Seller, and you've owned up to that.
Your wonderful attitude speaks volumes over and above this single auction.

RGL · February 3, 2003 11:15AM

Thanks for the advice. To clarify, I am not saying I would automatically return the coin just because of the bid mistake. If it is a 67 CAM, it is a great buy and even at 66 CAM, it is worth the bid. It would only be returned if it struck me as a 65 or less -- and I think any of us would return a coin we felt was two points or more off ...

darktone · February 3, 2003 11:22AM

I think the amount is small enough I would just pay for it and be more careful next time. mike

ScarsdaleCoin · February 3, 2003 11:25AM

I might offer the seller a profit ie $10 or $20 dollars for the error explaining the error and hope that the seller would be understanding and willing to take the $10 or $20 dollars...hopefully he could resell the coin to the second bidder...let us know how you make out!

Dog97 · February 3, 2003 11:32AM

I would just go ahead and pay for it and not try to weasel out of it.

toothpuller · February 3, 2003 11:38AM

It is very reasonable to offer a "settlement" on the coin if you decide you really don't want it. I did that with an attorney seller once and as soon as he heard settlement he was elated.

clw54 · February 3, 2003 11:39AM

For sniping, try using the second hand of your watch and find out where it is when the auction countdown is at an even minute. Type your max bid well in advance. When the auction is between 0 and five seconds to go, press the button.

Bulldog · February 3, 2003 12:42PM

I can't believe my eyes! You bid on it, you won it, it is yours! All we ever talk about on this board, is about being fair. You thought you sniped it cheap, but you won it rich.

Education is expensive!

Bulldog

Draco · February 3, 2003 12:45PM

That really depends on how much 112 dollars is to you. I've had that happen to me once long before the auction ended, asked the seller to remove my bid. . he refused and I ended up paying. I decided that it was what I deserved for not paying attention.

Edited:
Oh, another example of my incredibly low IQ would be entering "buy-it-now" prices in the bid box and ending up paying much more for the item then the seller wanted to begin with. Of course, it was only because I was willing to pay more then their buy now price anyway.

itsnotjustme · February 3, 2003 12:45PM

Please note if it weren't for you, the number 2 bidder would have had the coin in the low $20 range.

Editted to add: Not trying to give you a hard time... mistakes happen. Just a statement of fact.

coindaughter · February 3, 2003 12:46PM

I agree; I'd go ahead and pay for it. If you don't want it, resell it. But you made the error, and no one else, so just go ahead with the transaction and know that you'll be more careful next time!

Mike921 · February 3, 2003 2:07PM

I thought it was against ebay's rules to pass on the fees to the buyer.

Resell it.

DCAMFranklin · February 3, 2003 3:20PM

<< <i>I would just go ahead and pay for it and not try to weasel out of it. >>

I totally agree with Dog97. Take responsibility for your own actions. It was your mistake. Pay for the coin and see what it is like.

The "'speculator', well known to these boards," is PEPPERDOODLES (doops). He has 3 Negatives from sellers in the past 9 days. Do you REALLY want to deal with that??? I think not.

If you like it, crack it out and send it to the grading service of your choice. If it won't grade well, then list it on Ebay and take the hit. The cost for the mistake should be born by you and no one else. Just my opinion.

gmarguli · February 3, 2003 3:34PM

Does anyone know who DCAMFranklin is on eBay? Just kidding....

The coin doesn't look too bad. The fact that the coin is in an NTC slab is questionable. My guess is that if it would make CAM at any grade at ANY of the reputable services, then it wouldn't be in an NTC slab.

If you don't want it, then contact the seller and explain the situation. Offer him $10 for his troubles of not making you pay for the coin. It's got to be worth $10 for your time and effort.

K6AZ · February 3, 2003 5:51PM

Uhh.. you mean poodledroppings was the underbidder? LOL!

SarasotaFrank · February 3, 2003 6:44PM

I think a quick phone call to Robert would get you to a compromise easily.

smprfi · February 3, 2003 6:48PM

Explain your mistake and offer to pay his fees.If he doesn't accept buy it.Don't forget to leave a special feedback if he lets you out.

matteproof · February 3, 2003 7:47PM

Hi RGL. Great post. Thank you for putting it out for discussion. Of course, you should honor your bid. Why even entertain the idea of a "grading dispute" as a means of undoing a deal? After all, the coin is certified. By bidding, haven't you indicated your acceptance of the Certification itself?

Also, please recall that Ebay is an AUCTION. It ain't Sears! If the Seller indicated a "return privilege" then you might have an out if you REALLY did not like the coin. However, even with a return privilege, I would not rely upon that alone to undo a deal. Personally, I have NEVER returned a coin after purchasing it (even if I hated it!). It's just my personal policy as I learn MORE from my mistakes then I do from my victories. Knowledge is PRICELESS.

matteproof

coindaughter · February 4, 2003 7:41AM

RGL,
Let us know what you decide to do and the results!
Good luck, and sorry you got stuck....

DCAMFranklin · February 4, 2003 10:26AM

I have to say I am a little surprised to find so many Members giving advice on how to weasel out of a bid, rather than honoring the bid.

So RGL, did you send the seller his money?

RGL · February 4, 2003 10:33AM

As I stated earlier in the thread, the coin would be paid for -- and it has -- and would not be automatically returned simply due to a bidding mistake. PM on its way to DCAM. Thanks to everyone for their advice.

DCAMFranklin · February 4, 2003 10:47AM

<< <i>As I stated earlier in the thread, the coin would be paid for -- and it has -- and would not be automatically returned simply due to a bidding mistake. PM on its way to DCAM. Thanks to everyone for their advice. >>

I re-read both of your previous posts and I don't think the above was very clear at all. Sorry if the skin is thin this evening!

There are so many here that want to INSIST that Non-Members on Ebay always take the high road or suffer the ridicule of this Forum. I was just a little surprised to find so many Members providing advice on how NOT to honor the bid.

northcoin · February 4, 2003 5:46PM

In the old days you used to be able to contact the underbidder, but I'm not so sure that it is that easy anymore once an auction is closed. The problem is that if you do reach the underbidder he will suspect that you may simply be a shill bidder whose sole function was to see how high he would go. Then again, maybe he really wanted the coin and would be thrilled at the chance to acquire it. I once won a coin in an Ebay auction and was subsequently contacted by an underbidder who offered to pay me substantially more than I had won it for in the auction, so who knows. If you do contact the seller it is imperative that you explain that you are ready and willing to go through with the purchase in any event but that if he wants to try to get more by relisting it you are willing to reimburse him for his selling costs. To do otherwise is a sure way to guarantee negative feedback. In dealing with the seller there really is no other option unless you don't care about negative feedback. Of course the return priviledge is another matter and does add another dimension which suggests you are dealing with a decent seller to begin with in the first instance who is more interested in the satisfaction of his buyers than in using
Ebay's blackmailing negative feedback system out of spite.

MosesBlack · February 5, 2003 1:39AM

You bid it. You buy it.
If you don't stand behind your actions, correct or not, you should get rid of the marine corps emblem.
Semper fi

Gilbert · February 5, 2003 1:51AM

I wasn't going to offer a comment either way until:

"You bid it. You buy it.
If you don't stand behind your actions, correct or not, you should get rid of the marine corps emblem.
Semper fi"

Now THAT is an argument I can appreciate, and I am a retired member of your SISTER service

BTW

Greg - the beginning of your response was hilarious.

DCAMFranklin · February 16, 2003 8:24AM

RGL-
I'm sure you have the coin by now. How do you grade the coin?

DCAMFranklin · March 10, 2003 5:40AM

RGL- How did you grade the coin when you received it?

Did you return the coin?

Do you plan to try for a cross/crackout?

Pushkin · March 10, 2003 5:43AM

Go for the 6 second snipe in the future - it's a lot safer.

anoldgoat · March 10, 2003 6:16AM

eSnipe. Saved my butt a coupla times.

RGL · March 10, 2003 7:36AM

FYI, the NTC 1965 SMS MS-67 CAM five-cents is a high-end 66 or low 67, a no-questions-asked CAM, with an outside shot at DCAM. The only potential DCAM flaw is a little spot of brightness inside the far left archway on Monticello on the reverse. This coin has not yet been cracked and sent in for grading. I refuse to even consider submitting another to PCGS until I first receive grades on my submission of Jan. 31.

DCAMFranklin · March 10, 2003 8:02AM

RGL- Sorry for the delay in getting back to you. Had other things to tend to.

Anyway, I have been really interested in your results. Seems like lots of Members here are bidding on Centsles' NTC auctions and wanted to get an idea about your coin. I would think you have probably come out OK and perhaps A-OK if it makes DCAM.

I sure don't blame you for the delay in submitting. Good luck!

RGL · March 10, 2003 10:22AM

One coin in the current submission is a 1942 NTC PR-66 Jeff crackout, I will advise how it fares. (I have the coin pegged as a PCGS 65, but I am not complaining at the $35 sales price.)

clackamas · March 10, 2003 10:56AM

Doh! Live by the snipe die by the snipe, chalk it up to education.

Merc · March 10, 2003 11:08AM

I did something like this when I hit 333 instead of 222 for a 1940-S MS65 half. I wasn't even sniping. There were a few days left to bid. Somehow I didn't pay attention and thought I had bid $222. Well, I hit the reserve at $280. I thought I'd return it if it wasn't nice. Well, it had excellent luster and had a full split hand and skirt lines. It is tough to find a very full strike on a 1940-S It was an accident bid, but I'm glad I have the coin

DCAMFranklin · April 20, 2003 5:14AM

<< <i>FYI, the NTC 1965 SMS MS-67 CAM five-cents is a high-end 66 or low 67, a no-questions-asked CAM, with an outside shot at DCAM. The only potential DCAM flaw is a little spot of brightness inside the far left archway on Monticello on the reverse. This coin has not yet been cracked and sent in for grading. I refuse to even consider submitting another to PCGS until I first receive grades on my submission of Jan. 31. >>

RGL- Have you received the PCGS grade for this coin? I'm interested.

RGL · April 20, 2003 5:36AM

This coin went on its merry way to Newport Beach yesterday as part of a seven-coin regular submission (all freebies for completing registry sets), so in about a month, we shall know ...

Duncan · April 20, 2003 6:06AM

OUCH !!! BEEN THERE, DONE THAT AS I'M SURE QUITE A LOT OF OTHERS HERE HAVE ? PAY UP AND BE HONOURABLE...

A sniper's mistake/nightmare: What do you do?

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