I tried to close my auction with 4 mins left, but couldn't get all the bids canceled. Now what do I

relayer

I log on to eBay and see my 2002 set has 16 bids and is at $48.90 with a few minutes to go.

I'm trying to figure out what's going on here and decide to cancel the auction. But first I have to cancel all of the bids. I start at the bottom and also try and get the multiple bidders done, but there are just too many. The form doesn't remember any defaults and using the back button makes you log in each time, so it was taking me about 45 seconds to cancel each bid.

With less than 2 minutes left I still have 8 bids to cancel and then a sniper comes along and the price goes even HIGHER.

Bid History

There's too many and I can't fight them all, so it closes at $50.90

This is a 2002-S Silver set I bought from the mint for $32 last month and submitted the quarters.

$50 for this is a rip-off. But if I only go through with the auctions I lose money on then I let 10 people rip me and don't have an offset.

I'm already down $52 for the day on other auctions (plus I got a coin closing later I paid $225 for and it's not even at melt value).

Should I not go through with the deal and tell the buyer they can get the full set for less money directly from the mint, or let this person subsidise all of the other nice people on eBay who get my coins at a loss?

Or should I just say "Done deal" (but I do have a return policy).


Here's one I sold without the Kennedy and SAC

Tootawl

Honor the auction. You put it up for auction. No matter it sold for (high or low), you should honor the high bid. It is not your fault that bidders do not do their homework first.

Russ

You started the auction at $1 and made no representation that the set was anything more than it actually is. The bidder decided the price and he should pay the price.

Russ, NCNE

TomB

I'm having trouble figuring out exactly what it was you were trying to accomplish.

braddick

Complete the transaction as promised. Afterall, it's not the winner's fault the set went cheap.
Just remember and next time to give yourself four minutes, and not two, to cancel your auction(s).

Lakesammman

Sell it and learn to set a reserve. Were you trying to save the (minor) fee??

MadMarty

Honor your auction, you put them on E-Bay to make a little bit of money right. Some bid that amount, so sell them what they want.

Russ

I think some people misunderstood. The item sold for more than it's actually worth.

Russ, NCNE

Placid

Cancelled $1.00
Explanation:Bidding is out of control


LoL

MadMarty

I would say this was very clear...



<< <i>2002-S Silver Deep Cameo Proof Set

You get all 5 proof coins (no quarters) with the Kennedy 50c and Roosevelt 10c SILVER PROOFS! >>

Monstavet

What is the problem?
It sold for too much? How is that a problem, unless you are the bidder?
It didn't sell for enough? Make it a Reserve auction next time.

No matter what, honor the final bid as it stands right now, and learn from your mistakes for next time...whatever you feel you did wrong here. It looks legit to me.

Kelerag

Don`t worry about it, makes me want to sell my set there!

fcloud

Oops!

You could give the seller a discount.


Edited to remove comments based on item not selling high enough.

kaleidoscopic

Ask Pdiddy PoodleNoodle Pumpernickel for advice.

gmarguli

OK, this thread is confusing. The 2002 set sold for too MUCH. Forget about it. Why stop the bidding? Let someone pay $100 for a $15 item.

As for your losers, this will help offset those.

gsaguy

Start canceling the bids earlier next time.

GSAGUY

Dog97

I didn't understand what you are saying at first. I'm as dumb as all your bidders. You advertised it as a Proof Set but it was really only ½ a Proof Set and the price ran way up past the price of a complete set.
But to answer your question there are auction management tools that let you cancel auctions easily. I think Vrane used to call their tool Auction Bomber or Listing Bomber.

CThomas

I made that mistake as a bidder a couple weeks ago. I wanted the 1999 9 coin Clad set and bid $51.01 for it with about a a minute to go. Needless to say I won! I was so excited until I went to check out and pay for the item. That's when I actually read the auction! It clearly stated that it was for the 5 State Quarters and not the complete set. I was sick because the set I had just paid $56.01 including shipping was going for $21.95 BIN.

Lesson Learned and it made me a smarter eBayer!

I'd Sell IT!!!!!!!!!!!!!!!!!!!!!!


Not your fault!!!!

Chris

Lakesammman

Now I'm really confused - never mind.....

relayer

It just looked like there was something wrong.

The ad said no quarters, but it showed both sides so I thought maybe they are think they'll get two or something. I could see one person overpaying, but I can't believe the number of people bidding that much.

The buyer has 191 feedbacks and has been gone a while with 3 recent buys - 2 coins and a $300 ring. So I guess they were just buying what they wanted.

In the past, I submitted these along with the quarters and I'd be lucky to get the grading fee back for each PR69DCAM on the Kennedy and a couple dollars for the 1c, 5c, and 10c. So I guess I got used to viewing them a worthless. I never knew they were worth $50 unslabbed.

So I'll just treat it like every other auction. But I'll probably get neg'ed for NO QUARTERS IN THE SET (if they even pay).

relayer

I did a search on eBay and they are selling for $45+

The mint has them backordered until next week so I guess it's time to load up.

But if you want to get $50 for you set - be sure to remove the quarters first.

EDIT : I Just went to try and order some and they now show not avialable.

Spinynorman

Talk to the high bidder and make sure they knew what they were bidding on. If they made a mistake and you don't feel comfortable sticking them with it, you can always negotiate selling it to them at a lower price. You can recover the difference that you paid in eBay fees also when you do this.

If you find yourself needing to do this again, try the 'end my auction early' function. It will let you cancel all bids and close the auction at the same time.

APA1709

I understand your point, but I think there is a perception out there (for some) that the 2002 silver proof sets are going to be as hot as maybe the 1999. I have heard that the 2002 silver proof set will be the lowest mintage thus far. And, with the low mintage SACs and Kennedy's for that year, maybe that is fueling the fire. But, as another member stated, those sets are already selling for significant profit and the mint just ran out last week. I say sell as priced....you clearly represented what it was, but, if you feel the same way, you could offer discount...but remember, Ebay will charge you based on selling price, so any discount you give will take further away from your profit......

airplanenut

Not your fault that a ridiculous amount was paid...

gsaguy

Bidders are famous for not reading the auction description.

I once auctioned an 1879-CC GSA "CARD"....just the card.....and said so repeatedly in the auction description. When I sent the winner her $100 card, she wrote back and said she thought she'd won an 1879-CC GSA coin. I guess it hadn't dawned on her that getting a $3000 coin for $100 would be strange.

Anyway, stuff happens.

GSAGUY

Shocker

Was just looking at the people that bid and some of the other stuff that they've won. There are some fairly serious purchases in there. Maybe there are some people that know something that we don't about these coins.

flaminio

Maybe I'm just a heartless capitalist, but I would be doing a happy dance if I saw this kind of action for one of my auctions. I certainly wouldn't start wantonly cancelling bids.

Neptune

I would just carry on, and if the high bidder has a problem - then you can offer to the second highest bidder as a 2nd chance.

wallstreetman

I guess you were worried about the Final Value Fee, because you knew the winner wouldnt want half a set!

northcoin

OK, so as the seller watching the bid price go beyond the value of the item you suspected that somehow your bidders were making the mistake of expecting a full set, rather than partial. Assuming that you realized that your listing must have been unclear then cancelling the bid was a logical step to avoid otherwise certain negative feedback. The remaining alternative of contacting the buyer to make sure there was no misunderstanding is a good idea. To just let it ride is OK too, but the real question then remains if you want to risk negative feedback - which is the point that seems to have been overlooked by many who have posted. It seems this happens all the time with Ebay auctions where someone is selling the right to purchase something (like a place on a waiting list for a new car). Just look at the bid retractions on one of those and you see many bidders who at first thought they were bidding on the car itself despite the fact that the listing clearly stated otherwise.