Major coin aution house said today they made a mistake and can't deliver!
BigE
Posts: 6,949 ✭✭✭
They say the lot was mixed up and they are offering me a 200.00 certificate instead. Can I make them give me the coins-should I since they erred? What do you think?----------BigE
I'm glad I am a Tree
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Comments
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Another problem is they may have listed it wrong and not in your favor -
suppose you saw they picture and liked it - they said it was a PCGS MS67 - but when they got ready to ship, they noticed it was a PCGS MS65 - oops someone made a typing error that wasn't caught until shipping.
Are they going to refund your money and give you a $200 credit?? sounds pretty good to me - but maybe not on a coin that you bought for 3K and you thought was worth 5K.
rainbowroosie April 1, 2003
Specific performance on a contract is a relatively tough remedy for a court to enforce, though it has happened in regards to real estate and might apply to coins, if you can show that the coin, like real estate is unique.
If it's a run of the mill, blast white 1885 Morgan $ MS 65, then you will probably be out of luck. If it was an amazingly toned coin, that was quite unique, better chances, but if we are talking about $200, good-luck.
Edited to Add: Unilateral mistake does not usually allow a party to cancel a contract of sale. If you had bid too high, would they allow you to forego the sale? I think not.
Michael
I would also bring up the point that it seems rather odd, that the mistake wasn't found much earlier in the bidding process, and the lot cancelled, or the reserve changed (that may be illegal). They may have taken a shot that the coin would sell for enough to cover them, and since it didn't, they are backtracking.
The more I think about it, the more it starts to stink. I guess another question is, How far would you like to persue this?
LSCC#1864
Ebay Stuff
Is it important to you that other auctioneers (or anyone, for that matter) know that you will be reasonable and accommodating should they make an honest mistake in dealing with you in the future?
Me? I'd refuse the $200 if I believed that it was an honest mistake. I'd be a complete &%^$* otherwise.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Joe T
<< <i>Thanks for the input guys---they have the lot but I believe the reserve was placed too low------------BigE >>
Once again resides with Legend, the original purchaser "raw" at live Eliasberg auction. Laura and i "love" the same lady!
The problem I have is that the coin went to auction, for a period of time sufficient enough to notice the error, and nothing was done (like cancelling the lot, and dealing with the consignor). Poor BigE just bid.
If this was a "clerical" error, or a shipping snafu with a delay, a gift certificate award may be a sign of good faith, and an apologetic gesture to insure future bidding, and would be a generous offer.
This seems to me like they screwed up, and it's not BigE's fault.
LSCC#1864
Ebay Stuff
I can't think of any auction companies that would be that blunt and unreasonable. (OK, maybe one.) More likely, the relationship will pay more subtle dividends: courtesy, friendship, lot viewing favors and lower commissions when the time comes to sell.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Yes, you were wronged, and yes, you're entitled to your $800 damages (barring contractual language to the contrary, which I'm guessing is a serious issue), but good luck getting it. Aggressively insisting on it jeopardizes your relations with the seller and costs you a lot of money, effort, and emotional baggage. Nevertheless, I recommend putting on your best poker face and bravely going forward. I too am sick of big corporations (largely) disavowing responsibility. You can be sure if the tables were turned they would be unsympathetic.
Keep us updated!
--csw
Tiger trout, Deerfield River, c. 2001.
you felt you could turn really quick for $3200 - maybe yes/maybe no
you did not say how many more times you were going to bid - would you have gone to $2600? $2800? or more?
My personal opinion would be to push for a split of the difference. Accept $400, as a gesture of good faith on your part. It was their mistake, not yours. Their offer is not one of good faith, it's another way to take advantage of you. As for cash or credit, that's up to you, but I would stand firm and accept $400. If they are not responsive, I would make it a point to tell them that in no uncertain terms, you will let everyone know on this Board that they should do business with this company based upon their customer service.
You'd be surprised at how they'll respond.
Michael
I have my suspisions on who would do such a thing, but you should tell us. You certainley do not owe them the favor of anonimity.
I could understand if a genuine mistake was made where the sellers reserve was listed incorrectely, but the way you describe it seems to indicate the auction house or the seller decided [after the auction was over] that the reserve [and thus the final selling price was to low] if that were the case, and i knew i had an easy 800 dollar profit if i had the winning bid, i wouldn't be so forgiving of an "after the auction ended" change of mind which is what this looks like!
Big E, please name this firm for the rest of our sakes !!! Les
Glenn
BigE they owe you alot more than a $200.00 certificate and they know it.
09/07/2006
Andy - You little puppy dog.Maybe there is only one auction company that you know that will not allow future bidding from an individual but there are other auction companies that I know of that will not allow future bidding with other people.Auction companies do get stiffed from time to time.
stewart
"I'd take $400 in credit or $200 in cash" and see what they say. That's probably worth saying and not offensive but gives you a chance to get more.
Life's too short to get wrapped up in whether or not you are due your $800 off an error. Granted, in all likelyhood, if you made the error the other way you'd have to eat it, but I'll guarantee you that they've got language in their terms that allows them not to give you a red cent. Take the money, forget about it and be happy .
Stewart,
I see no reason why he needs to shut up. He's the one who's been wronged. He can say as much or as little as he wants.
I would definitely put on my best poker face and see if there is a better
offer. No idea what I'd do if there wasn't but no use leaving free
money on the table.
-KHayse
but no use leaving free money on the table
Khayse - Greed is one of the most disgusting phenomenons in this business.I believe SOME money should always be left on the table.There are always more coins.
The reason I am telling him to shut up is because Big E has probably already agreed to do so and is not to talk about this incident by taking $200.
Stewart
Heritage (forgive me if I am wrong), as big as they are, should have made this right. Look at the negative publicity that they are getting from this incident. A $200 "credit" is a slap in the face. That's comparable to ACG's $200 "credit" towards future slabbing if you turn over any negative email messages. Arg!
Which auction house, is irrelevant.
LSCC#1864
Ebay Stuff
Yes, but that has nothing to do with our conversation here. Do you pay sticker price when buying a car? If not you're just greedy.
There's nothing wrong with BigE trying to get more if he feels with the current deal that he's being taken advantage of.
> but I am surprised that so many agree that something is due -- seems indicative of our culture of "entitlement".
The only thing that is due (in both a legal and moral sense) is the coin
for the $2400. Since the auction house would rather not finish the
agreed upon exchange, the bidder can negotiate as he sees fit to make
the transaction more palatable for the auction house.
-KHayse
How many of you think Big E should have kept his mouth shut are coin dealers ?
If someone had used that line on me my responce wouldn't have been very diplomatic.
That of course is assuming no confidentiality agreement had been broken, but if no agreement of the sort had been reached, Big E had every right to seek advice on the matter. Les
I think only one person suggested that Big E keep his mouth shut. Perhaps it was more than one, but that's all I remember and I don't want to read through this thread again.
Here is the one I remember, from Mr Stewart Blay (part collector, part dealer), who is long on coin wisdom but occasionally short on diplomacy
<< <i>Big E - I think you should take your $200,shut up and move onwards. >>
Now, I don't know if you are talking about Heritage. However, I would say it was their error and that they owe you the coin at your bid price plus buyer's fee and shipping. If they under-reserved the auction, they can compensate the seller.
They are offering a $200 coupon to settle. You're choice whether to take it. If you don't you might need to take legal action to enforce your claim, which others can better advise on. There is probably an arbitration agreement in the contract, or maybe you could go through the ANA arbitration process. Clearly, your call. I would probably take the certificate.
Greg
Greg
If it were LOST, insurance would make them whole.
But a mixup?
That looks like an EATIT to me.
The coin was sold and the buyer was prepared to pay.
Even as the most hardass dealer in the world in my shop, I never reneged on a deal.
My mistake, my fault, my loss. I didn't make many.
Money is a good teacher.
Good to see things worked out
Nice job on the resolution.
I can always be bribed with "free" clothing.
-KHayse