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Stacks not honoring a high bid - what to do

clackamasclackamas Posts: 5,615 ✭
in PCGS Set Registry Forum
I bid on this coin A nice PF66/7 Liberty Nickel.. My bid was $750. The winning bid was $675, clearly I won the lot. Stacks however is telling me that (although I informed them the next morning): "Thank you for contacting us regarding the discrepency in the hammer price
versus your bid on certain lots in our March 2006 auction.

We discovered well after the auction had ended that a small segment of bids
had been missed due to a technical glitch in our computer system. Luckily we
have fixed this glitch to prevent this from happenening again in the future.
Unfortunately, we can not go back in time to re-run the auction with your
higher bid.

We apologize for any inconvenience this may have caused you."

I have heard this before. C'mon, a "technical glitch" is this the first time they have run an auction? I wonder why all my other bids that I actually won were all at my high bid. I smell a rat. What recourse do I have? I think they need to take a hit, no buyers premium or something.

Comments

  • AndyNC2005AndyNC2005 Posts: 171
    Check out their disclaimers, there are many.
    http://www.stacks.com/help/tospop.php?auction=ST0306&src=js
  • numonebuyernumonebuyer Posts: 2,136 ✭
    Maybe I am missing something, but does this have anything to do with the PCGS Set Registry?
  • leothelyonleothelyon Posts: 8,473 ✭✭✭✭✭
    This is total CRAPP! They expect you to honor your bids but they don't do the same!

    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

  • raycycaraycyca Posts: 1,669 ✭✭✭
    Same thing happened to me about 2 months ago, remember? I was promised they would correct the auction programming, but, I see it's STILL having bugs from what others have posted a couple days ago. Different company. The president of the company sent me many E-mails explaining things, promised me it would be fixed in the future. Sent me an autographed book by a famous coin author. Never got the coins as they were picked up that night of the auction. They said they paid the consignor the higher price of my bid versus the lesser bid by a couple hundred dollars. I trust they did that. Sorry to see you lost too. I guess the only way to really get the coins you want at auction is be there or have an agent do your bidding IN PERSON.

    I also collect antique glass. In those auctions, the person at the auction gets preference. What's that mean? If I bid $100 on a piece of glass by phone or internet bid, then the floor person bids $100, their bid wins. Even though they will not go higher. My bid is first, but doesn't count as I am not there in flesh and blood. The warm body wins. I don't think it's fair, but I now about it and have to live with it. And it's NOT with only one auction house, most of the antique auctions aparently work this way! Better luck next time. Ray
    You only live life once, enjoy it like it's your last day. It just MIGHT be!

    image
  • goose3goose3 Posts: 11,471 ✭✭✭


    << <i>Maybe I am missing something, but does this have anything to do with the PCGS Set Registry? >>



    image

    Geez. I thought the coin forum was loaded with all of the wannabee forum cops.

    like this forum doesn't need some activity.


    You clearly knew it had nothing to do with the PCGS Set Registry when you OPENED the thread, yet YOU chose to not only OPEN it but READ it and REPLY to it!

  • SteveSteve Posts: 3,312 ✭✭✭
    clackamas, you obviously got screwed. There is little you can do about it other than what you have just done. Let other potential bidders of Stacks auctions be aware of your experience. You could even send them this thread to show your displeasure. Stacks should have "done something" if you are a regular customer of their auctions. JMHO. Steveimage
    My True View Album

    My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
  • RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭
    I don't think I would have the chance to go to their auctions in person, and would never bid on line given your experience, so I guess I just will never be a Stack's client. I assume that they realize the potential damage they have done to their business and reputation.
  • clackamasclackamas Posts: 5,615 ✭


    << <i>Maybe I am missing something, but does this have anything to do with the PCGS Set Registry? >>



    It is a registry quality coin.. good enough?
  • cointimecointime Posts: 2,013 ✭✭✭✭✭
    clackamas
    What a raw deal image I would hope that if I was selling a coin and the same thing happened to me that they would relist the coin in another auction or honor your bid and tell the other bidder about their problem. I don't think I will bid in any of their auctions or list any coins to sell with them.

    My Washington Type B/C Set

  • LakesammmanLakesammman Posts: 17,413 ✭✭✭✭✭
    I've heard so many stories that I'm hesitant to leave absentee bids with ANY of the houses. Best to be there or trust the bid to a friend/dealer.
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • RBinTexRBinTex Posts: 4,328 ✭
    Those d*mn New Yawkuhs imageimage
  • cointagiouscointagious Posts: 847 ✭
    This kind of thing has been going on at Stack's long before the internet or 'technical glitches'.


    I would never - ever - never - ever bid in a Stack's auction unless I was sitting in the room.
    image
  • sinin1sinin1 Posts: 7,500 ✭
    that is a bummer

    but there is nothing you can do but whine

    next time try to find an agent to be there live


    it is possible the coin is overgraded POCrap and you got off easy
  • keojkeoj Posts: 980 ✭✭✭
    "I would never - ever - never - ever bid in a Stack's auction unless I was sitting in the room."

    I couldn't agree more with that statement. I would never hesitate to bid in an ANR/Heritage/B&M auction. I have a few reservations about Superior and Goldberg's. Stack's for me is lower than this.

    keoj
  • pontiacinfpontiacinf Posts: 8,915 ✭✭


    << <i>

    << <i>Maybe I am missing something, but does this have anything to do with the PCGS Set Registry? >>



    image

    Geez. I thought the coin forum was loaded with all of the wannabee forum cops.

    like this forum doesn't need some activity.


    You clearly knew it had nothing to do with the PCGS Set Registry when you OPENED the thread, yet YOU chose to not only OPEN it but READ it and REPLY to it! >>



    AHMEN TO THAT


    image

    Go BIG or GO HOME. ©Bill
  • lloydmincylloydmincy Posts: 1,861 ✭
    Clackamas:

    This is a funny story. While me and another "dealer" were checking out these threads together to kill time, we noticed this thread. He said "watch this", and we went to the Stacks website, and he showed PROOF that he had the same thing with the same lot - only his high bid was...

    ...$850!!!!

    The lot (3941) said high bid $675, and in the lower right corner, it said, "your maximum bid is $850". We laughed so hard. We wanted to poste his bid but we didnt know how to do it. In the end, you...

    YOU CLEARLY WOULD NOT HAVE WON THE LOT ANYWAY! image
    The Accumulator - Dark Lloyd of the Sith

    image
  • BearBear Posts: 18,953 ✭✭✭
    When this happens, the auctioneer company should offer some meaningful

    reparation to the bidder, for the loss and inconvenience. To merely send a BS

    letter, which means absolutely nothing, is truly bogus. I am sure the glitch will

    be fixed when Hell finishes freezing over.Stacks, the snobby company that is to

    good to handle TPG coins.
    There once was a place called
    Camelotimage
  • BochimanBochiman Posts: 25,463 ✭✭✭✭✭
    Reparation to the bidder, but the seller/consignor is getting screwed out of funds too.......and they usually never know because the auction company is NOT going to tell them......

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • SUPERCARCOINSSUPERCARCOINS Posts: 1,152
    .............This would probably never happen @ Teletrade !
  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭


    GET A ROPE !!!!

    Bidding on raw coins in an auction is like sticking your hand in a bee hive hoping to pull out some honey without getting stung.! imageimage
  • morgannut2morgannut2 Posts: 4,293 ✭
    Happened to me at ANR once--lost a sale at $2000 profit. If it wasn't them, I'd have really raised hell-from then on I decided to be in room or have someone.
    morgannut2
  • roadrunnerroadrunner Posts: 28,310 ✭✭✭✭✭
    Not at Teletrade? Yes, but only because they have reserve bids and other methods in place to ensure nothing slips through.

    This happened to me once before in the old B&M with QDB so I know it happens. Houses will continue to miss bids and make mistakes so there is nothing you can do expect go on. It probably happens at EVERY major sale (a few lots) out there when you consider that thousands of bids are being entered. While I don't condone the lip service paid after the sale that's life.

    Stacks would be more than happy to auction a nice collection of classic slabs. They have slabbed stuff in most all their sales now, esp in generic gold.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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