Does Teletrade's bidding system annoy you?

LincolnCentMan

1) You never know if you're bidding against a reserve or another bidder.
2) You have no clue what the reserve is. This is the one that annoys the heck out of me. If I knew the reserve on some, it'd be a why bother. If I knew which ones were no/low reservese, I'd look more at those.
3) When the auction goes live, the bid prices go up over time... not because people are bididng on them, but because it's incrementing up to the reserve.

SUPERCARCOINS

so how is this diffrent from other auction houses ?

LincolnCentMan

so how is this diffrent from other auction houses ?

I look at them.

Coxe

<< <i>3) When the auction goes live, the bid prices go up over time... not because people are bididng on them, but because it's incrementing up to the reserve. >>



You know this for certain?

CoinHusker

No, but their return policies do.

JJM

do not like at all

Barndog

I don't prefer it, but will bid via their auctions rather than SGBH any day!

mozin

<< <i>

<< <i>3) When the auction goes live, the bid prices go up over time... not because people are bididng on them, but because it's incrementing up to the reserve. >>



You know this for certain? >>

Yes, heard directly from Teletrade staff.

Russ

Many of Teletrade's auctions are not auctions at all. They are house coins with reserves set at retail prices.

Russ, NCNE

LindeDad

It annoys me enouph that it has to be the only place I can find the coin to bid there.

etexmike

I'm not a big fan of the systsem, but I still bid in their auctions from time to time.

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etexmike

xphobe

Teletrade doesn't have reserves, they let the seller place a "buyback bid", which eBay would call a shill bid. The seller has to pay both sides of the juice if he is the high bidder.

What annoys me is that if Teletrade coins are not sold, they simply disappear from existence. Why? Did nobody bid? Did bidding not go above the buyback bid? Was the lot removed? We'll never know. They're just poof gone. At least with Heritage and eBay you can see lots that didn't sell.

While I'm beyotching... I don't like Heritage either because I have to pay Texas sales tax in addition to the juice (unless I am lucky enough to win over $1000). Maybe I should amend that to say I don't like state sales tax.

And both houses add the juice to the hammer price for the searchable archives, which automatically guarantees inflation.

I guess if you don't like the game, don't play...

Coxe

xphobe -- The nice thing about Heritage is that you do have that after auction buy at the reserve, opportunity to pick up something to put you over the $1K barrier. And the Teletrade coins don't disappear,; they are relisted -- but I know what you are talking about. Drives me nuts, especially when I think I am soundly the high bidder and then it evaporates in the end. I really liked Teletrade in the old telephone days, even if you couldn't cherrypick.

Shamika

I don't know who's running the show at Teletrade, but unfortunatley they've been going down hill for awhile.

Reserve auctions SUCK!

morgannut2

So, if I'm the high bid with say 15 minutes left--I might still lose to reserve instead of another bidder? (I better go check a few bids now!)

Myqqy

Reserve auctions SUCK!

Amen to that....

Coxe

<< <i>I don't know who's running the show at Teletrade, but unfortunatley they've been going down hill for awhile.

Reserve auctions SUCK! >>



IMO, they have been on the long slide since they sold out to Greg Manning years back. Once they were part of a publicly traded company ot was all about quarter over quarter earnings increases, ... I was completely oblivious to the parent company also buying Dave Bower's and Ray Merena's good names until I had an issue and called only to find they were in Irvine, in the same building and owned by the same investment group.

morgannut2

I put in some late (10:00) bids at various levels just to see how they handle different situations ("stuff" vs. Vams vs interesting coins) - BTW "Escalla Group" is an investment company but I understood they were really a big STAMP marketing firm out of Spain.