What's Up With This Teletrade Auction...? UPDATE
Clankeye
Posts: 3,928 ✭
The last NGC65 52P Carver commem I bought, I paid $36 for. Granted, this one has what may be nice color, but what in sam hill is going on here? $1350??????
Are Teletrade bidders known for their sense of humor?
The Magic Carver
Clankeye
Are Teletrade bidders known for their sense of humor?
The Magic Carver
Clankeye
Brevity is the soul of wit. --William Shakespeare
0
Comments
Russ, NCNE
I once bought a premium toned one from Pinnacle for $125 and that was a healthy price for that date. Even if you thought you could bump it to 66 it would still be a $400 dollar coin. 52P's are common, common, common.
This is nuts. The coin looks nice enough, but it's not a "moose" IMO.
Clankeye
Russ, NCNE
What, don't you think that color merits 50 times bid?
I just can't imagine it being legitimate.
Clankeye
In answer to your question/observation, though:
1) insane reserve by seller?
2) stupid bid by smart (or stupid) bidder?
3) typo?
4) a prank, just to get your attention?
5) a trick by you, to ward off other potential bidders, from a coin you think is a screaming bargain at the current bid level ?
peacockcoins
<< <i>can consigners bid on their own coins in Teletrade auctions? >>
Clank,
Yes, they can. They have to pay the juice if they win, though. So they get hit coming and going.
Russ, NCNE
more likely, teletrade employee plugged in a number like $1400
starts at 1000, and drifts up every couple hours and closes at $1400 -> not sold
if it interests you , watch and it will be in again in 3-5 weeks at a lower price (if they fixed their error)
<< <i>A few of these gased inexpensive early Commemoratives are making their way into NGC holders. >>
That's a shame, Braddick. They should be very wary of developing that reputation.
In the early nineties I put together an incredible toned set of Carvers all NGC65. I came to believe that more than a few of the coins were AT. It diminished their significance to me.
A knowledgeable person I have talked with said to me that NGC pretty much admitted that a certain type of AT coin in this series was getting by them at that earlier time. It would be too bad if it were happening again. If NGC needs to be vigilant about anything, I think it's that there may be a perception it is easier to get a color coin into one of their holders. Not just Carvers--any series in general.
And I like NGC. That's why I'd even say it outloud. I want them to do a good and credible job.
Clankeye
Well, all that tells me is that I will never, ever bid in a Teletrade auction.
I will at least give the Bay of Eee a little credit. You can see the number of bidders (unless a private auction), can see who they are and their feedback, and you know who set the auction start price. If an auction you are following is being shilled, often times at least you can see it in action, and know what's happening. You can also see who is selling the coin.
There is something to be said about being offered a coin at a set price and saying yes or no.
Clankeye
Now I get it though, it is in fact "The World's Most Beautiful Rainbow Toned Commem."
Thank God the seller doesn't go in for hype.
LINK
I don't even have anything else to say about this coin. It can speak for itself. Just wanted to share the journey with you all.
Clankeye
If I were the seller of the coin when it showed up on Teletrade last week, I'd have taken the $1400 and run. That's assuming it was a legitimate bid to begin with.
<< <i>It's really a sad day when Aswimmer's coins are making it in to holders. >>
Actually, that coin looks more like Tonecoin2003's work and, unfortunately, a lot of his garbage IS showing up in NGC slabs.
Russ, NCNE
Surprise, surprise!
PS: Now that I think about it, isn't this seller, coinsandcomics, a member here?
Russ, NCNE
in PCGS MS-66, for 1200 dollars purchased in May-03. Sometimes you are better going to a reliable
dealer, then getting carried away at an auction.
Camelot
Camelot
Brian.
Credit goes to Sinin1 for digging it up.
Russ, NCNE