What should the auction house do when they sell a coin to the wrong high bidder?

Shamika

As in THIS POSSIBLE BIDDING SCENARIO, what should the auction house do if they, in fact, sell a coin to the wrong bidder?

roadrunner

If possession of the coin has not been taken yet the situation can be resolved. Other than that, one would be out of luck.

That same situation happened to me once in a B&M sale years back.
My mail bid was entered wrong by the auction house and the lot sold for considerably less to the floor. The floor bidder picked up the lot the next day and there was nothing they would or could do about it. I did receive a letter of apology from QDB but I would have preferred the coin.

roadrunner

ldhair

I had this happen to me as well with B&M.
I didn't catch it until the results page came in the mail a month or so later.

tmot99

Luckily, I've never had this happen. However, if it did, I would be expecting some form of compensation. Whether it be some credit towards my account, discount on a coin in inventory (if they have such a thing), etc. Otherwise, I would have a hard time using that auction house again.

BAJJERFAN

Agreed

zzzz

Mistakes WILL and DO happen. I view them as regretable but are rare in my opinion.

The bottom line is if you can't make the live auction yourself get a dealer/person to represent you there.

Heritage had a lot going on with over 4,000 lots in the CAA auction, 9,000 lots in FUN, 2,500 lots in HWCA not to mention the internet only auctions.

roadrunner

Compensation? In the next B&M sale (this was around 1976) I was the "winner" on half a dozen lots via mail bid. This was my 2nd attempt at mail bidding on coins strictly by the catalog description. I had "faith."

In any event every one of the coins was either cleaned, dipped, scratched or what have you. Each was a burial. I requested that they take every coin back. While they did that, I was admonished for being a bad bidder. And in the future, they suggested that I do not bid unless I had the chance to see the coins in person. I took them up on that offer and stayed away for over a decade. Buy the coin, not the description nor the plastic.

roadrunner

BAJJERFAN

Well I don't know about compensation, but free shipping on a next purchase mite be nice, OR give you first shot at a comparable coin that becomes available would work too!!

Neptune

I would say - whatever it takes to make it right, and get coin to the right customer!

mgoodm3

Everybody's talking about the bidder losing out, he really loses nothing except the opportunity to buy. The seller is who loses in this. They are the one who should be compensated.

Shamika

<< <i>I would say - whatever it takes to make it right, and get coin to the right customer! >>


Thank you Neptune. That's exactly what I say!

An auction house (I'm not going to out them just yet) admits that they had computer problems between their server and the computer set up at FUN.

The auction house accepted my internet bid shortly before online bidding ended. However, the screw up permited the floor bidder to win the coin.

What's interesting in this case is that the auction house knows the dealer who purchased the coin. If you ask me, the auction house should buy the coin from the dealer at his price (it's not the dealers fault that my bid wasn't delivered) and then sale the coin to me at my closing bid which would have been the high bid.

By accepting my on-line bid, the auction house is taking responsibility to see to it that the bid is placed.

I'm still waiting to see how this plays out.

morgannut2

I was high bid on an item not at Bowers/Merena but his new firm, ANR for $500 against a floor bid of $115. The item was presold for 4 figures and all I got was an apology that there was an internet weather communication problem in Baltimore. I lost a custmer and so now has Mr. Bowers. They just thought that it wasn't that big a deal, like there was no harm to anyone. I'm still mad.

goose3

<< <i>

<< <i>I would say - whatever it takes to make it right, and get coin to the right customer! >>


Thank you Neptune. That's exactly what I say!

An auction house (I'm not going to out them just yet) admits that they had computer problems between their server and the computer set up at FUN.

The auction house accepted my internet bid shortly before online bidding ended. However, the screw up permited the floor bidder to win the coin.

What's interesting in this case is that the auction house knows the dealer who purchased the coin. If you ask me, the auction house should buy the coin from the dealer at his price (it's not the dealers fault that my bid wasn't delivered) and then sale the coin to me at my closing bid which would have been the high bid.

By accepting my on-line bid, the auction house is taking responsibility to see to it that the bid is placed.

I'm still waiting to see how this plays out. >>




when you placed your bid, did you not in fact enter into a legal contract with them?

Shamika

<< <i>when you placed your bid, did you not in fact enter into a legal contract with them? >>


That's absolutely correct. I'm expected to honor my bid. Thus, I expect the auction house to honor it as well.