Why does Teletrade start auction prices so high?

poptopsRus

Why does Teletrade start the auction prices so high? I have a handful of auctions going and they set the beginning auction price, but why do they start it so high? I guess they will have to relist them again and again. I have asked them before but all I get is a bunch of BS.

Dog97

If they start them low the bidding may fizzle out before the price gets as high and TeleTrade wouldn't be able to charge as much $$ for the buyer & seller fees.

CarlWohlforth

Did you send them some coins to sell and they started them higher than you expected? If you had a reserve on them did they start the coin higher than your reserve? I'm curious. Maybe somebody entered a max bid before the auction started?

jeffnpcb

Most are pre-bids before they open the auction. You can track, then go to track and bid and start entering bids. Then they will tell you if it is too low and you have to increase your bid.
Just be careful to preview the coins and don't get bid happy!!!

poptopsRus

These are certified coins I sent in and I didn't not put in a reserve or bid on them myself and nobody is stupid enough to bid that high either.

BigE

Poptop, is the MS 65 1926 Sesquicentennial yours? It started too high also-----------------BigE

poptopsRus

Naa that one's not mine. I know Teletrade will assign starting prices and they are all relists and the starting price went up significantly on all of them. The ones I am referring to are lots 1079, 1081, 1083, 1321, 1326. I would have sold each of them at 1/3 to 1/4 of the price they started them at.

BigE

They did price them too high, all you have to do is sell one and you will make up for it though---------------BigE

poptopsRus

Thats true but would you bid on any of that stuff and even half the price?

BigE

I will take the diplomatic way out and let you know that I am working on early Commems-----------BigE

CarlWohlforth

I hope you don't have to pay to relist them. There is a similar coin as one of yours that is currently less than half yours. Maybe the pricing person made a mistake?

poptopsRus

No you don't have to pay to relist, you don't pay until they sell (if they sell).

Shamika

I'm surprised to hear this. I would think that Teletrade would start the bidding at $1 unless specified otherwise by you.

Very interesting.

sinin1

that really sucks - now you have to wait a few weeks before they run again.


tell me about the 3 pennies -




the bad thing is they have your coins hostage and you have to pay to have them returned to you.





What is the average time now for them to get coins listed? I remember when I was selling last summer it took them 5 weeks for the auction to run from them getting the coins.