This auction of seized property (coins) might interest

Luvdawgs

some of you They have foreign and US coins, among other things

Stork

Looks interesting...has anyone ever bid in one of these? I notice on one of the unslabbed Saints there is the comment that it is not graded, but guarenteed genuine...but others don't have this comment about a guarentee. I wonder if that means anything?

satootoko

<< <i>has anyone ever bid in one of these? >>

Several times, but never successfully. This site seems to attract the kind of folks who get auction fever and considerably overbid. I think I have a fairly good handle on the value of Japanese coins, and I've lost a couple to bids that were more than double mine.

Luvdawgs

Thanks for the info, satootoko. I had never used this site before so wasn't aware of that.

cosmicdebris

Lots of early US coins.

CIVITAS

The company's a little too shady in my book. They try to look and sound like they are some sort of government agency, even though they aren't. As Roy mentioned, sites like this generally attract a lot of people who don't have a clue about the merchandise they're bidding on because they think they're getting a "deal" because it's supposedly "seized" property. Generally it's quite the opposite. I'm sure some of it is seized, but I'd guess a lot of it is stuff that bidders regularly pay way too much for that the company specifically buys and places for auction.

Their guarantee regarding coins is at least acceptable:



<< <i>NUMISMATIC ITEMS are guaranteed to be authentic as to date, mint mark, and genuineness. Grades and certification by outside grading services are subject to various interpretations and as such cannot be guaranteed by FARS and are not cause for voiding a sale. NO lot can be returned because of a variance in judgment with regards to grade or value. Bulk lots and rolls of coins may not be returned. Items removed from their original heat-sealed FARS flip may not be returned for any reason. >>



However, I generally try to avoid companies that use made up words in their Terms:



<< <i>Irregardless of the above-mentioned terms, all sales are final and auction items are non-returnable after 21 days of receipt. >>

Stork

A couple things from the FAQ section of their website...

Why is there an event registration fee to bid at some of your on-line auctions?
The event registration fee is a fee that is charged to enable bidders to bid on all items contained in certain events.

I guess you have to pay to bid...



Are you a government agency?
Federal Asset Recovery Services and its official Web site “SeizedPropertyAuctions.com” is a private corporation which specializes in liquidating assets of all types. We extend our expertise and services to state and federal agencies, local municipalities, police departments, lending institutions, the business and legal communities and the general public

I'm thinking a simple 'no' would have sufficed.




<< <i>They try to look and sound like they are some sort of government agency, even though they aren't. >>


I agree. And that just makes me a little irritable. Perhaps it's just the day I'm having though (grouch/snarl). Luvdawgs, do you know more about them? I did see a little trinket I might like to bid on--if they are on the up-and-up, and if I can rein in my attitude. Anyway, it was kind of fun poking around the website a bit .

Luvdawgs

I don't know anything about them, Stork. From what everyone here has said, I myself am going to stay away from them.

0john0

We had a thread about this site a long time ago. The consensus then was that the website people bid up the items to the price range they want for the item using shill bids.
In other words, you are probably not going to get a super deal, because it is set up to prevent that.

That's just what I recall anyway.

Luvdawgs

Thanks, John.