eBay Second Chance Offers- Do they make sense?

UncleJoe

I copied the following from an eBay auction:

Second Chance Offers:
After our auctions close we sometimes extend Second Chance Offers through Ebay to under-bidders whose bids were to our liking. If you receive a Second Chance Offer from us, it will be for a coin(s) of the same denomination, year, and mint mark as the coin(s) you bid on, and will be in similar condition (if not better). You will not receive the exact coin(s) shown in the Second Chance Offer, as that coin(s) was sold to the high bidder of the original auction.

I don't know about anyone else but I have a hard time with the thought that an underbider might receive a better coin at a lower price. I don't think I could bid on an auction that stated the above. Any thoughts (or straighten out my thinking)?

Joe.

Compa

Well if they don't sell the coin via a second chance offer they will just list it as a regular auction and that person will bid the same and still get it at whatever price they bid.

What you paid has little to do with what the coin is worth to others. You may have simply overpaid ... or been generous to the seller, or the coin may be worth more to you than to others.

If you don't want others to get a better deal than you ... buy only one of kind things! Pop 1/0 ---- that way I can assure you that you will be overpaying!

UncleJoe

Well if they don't sell the coin via a second chance offer they will just list it as a regular auction and that person will bid the same and still get it at whatever price they bid.

But in this case I also have the opportunity to bid on it.

Maybe the key is to be the underbidder!!!

Joe.

Trooper

Joe
I once had a couple of Western Electric arm patches. I put one on to see how it would do. Only two bibbers wanted it and ran it up to 26 bucks. After the auction I offered the second seller the second chance offer and he took it. If I did a dutch auction or had two seperate auction I would have sold the two for the opening bid which was 5 bucks. It turned out better with the second chance, 50 bucks instead of 10. I still have a couple of patches left but I'll put them on next year.

So to me if I was a bidder I wouldn't take the offer and hold off unless the coin sold cheaply and the second chance offer was a great deal.

Tom

lathmach

Why not make Ebay aware of this seller's auction? They wouldn't be getting a piece of the action.
I hardly think they'd like it.

Ray

sinin1

When I get a second chance offer on a coin within a couple days, saying original buyer backed out - I think SHILL


when I get a second chance offer on some generic thing like a book or something, I think MULTIPLE COPIES - and check the guys auctions - usually another one offered and I bid too much on the previous one


Ocassionally if I would like something FAST, I take the 2nd chance - usually not

Bubblehead

I only respond to second chance offers from DHRC.
You know that they have tons of whatever it is you bid on!
And, you have the chance to pay less than the winner!

Trooper

Ray
<<Why not make Ebay aware of this seller's auction? They wouldn't be getting a piece of the action.
I hardly think they'd like it.>>

A second chance offer is initiated through your Ebay "sell" page. If the buyer accepts the 2nd chance offer the seller still has to pay the fees. I believe the only thing the seller saves is the listing fee, because in reality the other item he just sold was never listed again.

Tom

Robgetty

Yes, 2nd chance offers still go through Ebay. I have extended them before:
I bought a lot of 50 PCGS slabbed Roosevelt dimes from Wondercoin, picked
out the ones I needed for my set, and sold the other 35 on Ebay. I had 5 or
6 basically identical coins in a few years, so I offered them to the underbidders.

I agree if it is a rare coin, then there is a good possibility of a shill bid and the
seller trying to find your upper bid; on common items, the seller probably just
doesn't like selling with a dutch auction. (I know that I don't)