How Could a Very Desirable $1 No Reserve Coin Possibly NOT Sell on Ebay? Here's how...

Loki

I recently auctioned off a beautiful Lincoln commem, MS-64 in a first gen holder at $1 no reserve. The auction closed a couple of days ago with plenty of interest. So, you ask, how can it possibly not sell? The answer is, when 2 people snipe it with huge bids each. The winning bid was something like $370. So now the question remains, will this bidder actually go through with the purchase, knowing that he got called on his huge snipe bid by another last second sniper? If he doesn't, then how can I expect to sell it to the next bidder in line? Do you think this bidder will accept a second chance offer for $360? Would you neg the winning bidder if he doesn't pay up, even though it would be pretty foolish for him to do so? Of course, it was foolish to snipe it at that huge bid so would you 'punish' him with a neg? This is highly comical, but it may turn out that I will need to relist it if I would like to sell it. That's how a PQ coin at $1 no reserve auction may not sell on eBay.

Anyway, has anyone ever called you on a real high snipe bid that you wouldn't think anybody with their right minds would even come close to bidding with you? Be careful, as some snipers may be as nuts as you are!

topstuf

If ANY bidder does not perform, neg the SOB until the cows come home.

The bid is a CONTRACT! How many times do they have to state that?

No mercy! Zero tolerance!

IF ebay ever goes down in flames (yeh sure) it will be from disgusted sellers who are tired of the mollycoddling that is spent on worthless bidders.

If you don't want to pay for it, don't bid.

May non pay bidders' families be cursed and diseased until eternity!

Grrrrrrr!

Louis

Is this a recently closed auction? How do you know the bidder won't follow through on his bid? What is his feedback like?
If the bidder doesn't come through I would give him a negative. He shouldn't bid an amount he isn't willing to pay.

RGT

I had that coin on my watch list and was hoping to get it cheap. I was also floored to see the bids end that way and figured two people put up bids without expecting them to go that high. Or else they think it's a hands down 66 upgrade.

So, I'll give you $140 for it...

CoinResource

Never bid an amount you're not willing to pay!

DCAMFranklin

If the bidder does not honor their snipe bid, then I would give him a Negative. Sniping is NOT an excuse. A bidder can choose to utilize a snipe bid that is at a level they are willing to honor. If your bidder chose a number higher than he/she is willing to honor, then that is their fault, not yours. There are consequences for using a bid number higher than you are willing to honor. In the future, the bidder will act more responsibly.

Loki

Yes it was recent. I offer a 7-day return so the best sniper #1 could do to maintain his good status is to pay up and send the coin back saying anything he wants about it. Then I will refund his money and leave a positive. We'll see what happens. Say this scenario does happen. OK he saves himself from a neg, but most likely the coin will remain unsold since the next bidder most likely will not except the second chance offer for $360. It's just amazing what happens to me when I try to sell something on Ebay. I seem to get the wierd cases. The very first auction I did, I set up a BIN and the guy 'accidently' hit it instead of bidding normally. I had to go through the rigamaro of waiting 20 days before ebay would credit my final value fee back then I relisted it. Geez!

RGT, Thanks but the second guy (sniper #2) seemed quite interested in it as he emailed me a few times. Perhaps, if it doesn't work out with sniper #1, I will make him a deal before I relist it. I knew the second guy would snipe it because that is how he bidded on his previous wins. He laid low and struck at the last second, which is exactly what he did for this coin. He just got 'outsmarted' this time lol.

greghansen

Sniping as a bidding strategy has its risks just like any other strategy. I don't understand the strategy of 'over snipping', but I agree with the posts that say a negative is in order if any bidder does not follow through with a bid.

UncleJoe

Am I missing something?

Several different scenarios for something that hasn't happened yet.

Sometimes events are the result of self-fulfilling prophecies. Get rid of the negative energy.

This is not an unusaul event. I recently had two snipers bid an auction of mine to $450. I personally didn't expect more than $300.

The buyer paid, the coin was sent, done deal. Why worry about what is going to happen when you have little exposure. Thinking that way just helps it become a reality IMO.

Joe.

Loki

No, it didn't happen yet. That is why I wanted to see what some of you more experienced sellers would do if this scenario happens to one of your auctions. C'mon, $370 for a blast-white coin worth half of that tops? This scenario is very much a possibility, don't you think?

sinin1

All the people who use sniping software say it is great


obviously BOTH of these bidders were willing to PAY - bidder 2 at $360 - bidder 1 at LEAST $370

who knows, maybe they were willing to go to $400, and saw something they wanted

Shamika

You can always try to contact the buyer and see if he really wants the coin at the hammer price. Since he clearly got caught with his pants down, you could explain that you will not neg him if he backs out. This would work in everyone’s interest since you appear to already have another buyer (the underbidder) lined up.

Also, you might offer him a reduced price if he promises not to return the coin, but that seems extreme.

UncleJoe

C'mon, $370 for a blast-white coin worth half of that tops?

To who(m)?

It may not be worth $370. to you but it seems to be worth it to at least 2 other people.

In my auction I described above, I did not think it would go for over $300. but it sold for $450.

It obviously was worth that to 2 other people. Who am I to argue?

Joe.

millennium

I'd neg him if he doesn't pay..simple as that. I NEVER snipe an amount that I am not "willing" to pay. I have paid too much sometimes, but have paid what I bid.

abuell

<< <i>Am I missing something?

Several different scenarios for something that hasn't happened yet.

Sometimes events are the result of self-fulfilling prophecies. Get rid of the negative energy.

This is not an unusaul event. I recently had two snipers bid an auction of mine to $450. I personally didn't expect more than $300.

The buyer paid, the coin was sent, done deal. Why worry about what is going to happen when you have little exposure. Thinking that way just helps it become a reality IMO.

Joe. >>




Amen many times over. My guess is that the buyer here could never be as negative as the seller and several people are ready to join the lynch mob and it's all about something that hasn't happened!

I once bid on a coin that was at $40 with one minute to go. I bid with 30 sec to go and with 3 sec left another bidder bid $2000. I got the coin at $2025. My bid was $3250 - Hey, I got it for $1225 less than I was willing to pay and was happy as hell.

Loki

<< <i>C'mon, $370 for a blast-white coin worth half of that tops?

To who(m)?

It may not be worth $370. to you but it seems to be worth it to at least 2 other people.

In my auction I described above, I did not think it would go for over $300. but it sold for $450.

It obviously was worth that to 2 other people. Who am I to argue?

Joe. >>


You know Joe? You just may be right. I just received his payment via Paypal. Good for him! OK, now let's see if he will keep the coin.

I guess I get the coveted award of the day. Oh well, I am just not used to actually making money off a sale of one of my coins, so naturally I am thinking something's wrong with this picture.

Russ

Loki,

Maybe it's some rare variety worth big bucks and he just cherry picked you.

Russ, NCNE

RGT

Loki,
I didn't expect you would take that offer with two other guys lined up at more than twice that. I'm glad it seems to be working out for you. It looked like a really nice strike from the image. My Lincoln will come along.

UncleJoe

You know Joe? You just may be right. I just received his payment via Paypal. Good for him! OK, now let's see if he will keep the coin.

Let's purge all negativity.

He will keep the coin. Ohhmmmm. He will keep the coin. Ohhmmmm.

I am very happy for you and good luck.

Joe.

SmallTownCoins

Or maybee he just saw the same coin on Home Shopping Newwork for $995.00 and he thinks he's rippin you off.....

eddye

I would email the person and tell him that he was the high bidder. Tell him how much is needed for postage and insurance. Now if he says he doesn't want the coin, give him the Negative Feedback. Now I know why I used to shoot snipes. Good luck!! The problem is his!!!!!!