I just got screwed by Ebay Live.

kalch23

I was watching the Superior auction on lot 1047 (1909 quarter eagle ms64) and I pushed the button to place my $2000 bid.

Next thing I knew, I was somehow the winnning bidder at $2250 and the auction closed.


What should I do know? Ask for them to take the difference out of their BP? Anybody else ever have this problem with Ebay Live?

Any and all advice appreciated.

DennisH

Ah yes... the dreaded "internet lag" effect. It's why I will never bid in any live auction via the internet.

I suggest you call them ASAP, but don't expect to find a sympathetic ear on the other end.

RYK

People here have had this problem in the past. I think that they have been able to resolve this with the auction companies. The online live bidding technology is not ready for prime time, IMO. If you have to take the hit for the extra $250, it is a lot smaller amount than other people have been stung.

Dennisl

If you bid $2,000, you actually bid $2,400 because there is a 20% buyer's premium added automatically to your bid. The buyer's premium is less if you bid on their website. They jack up the fees to 20% if you bid on eBay to cover eBay's fees. Heritage, Teletrade, Superior all add a buyer's premium to your bid. I like the way Heritage does it. They show your bid and what the bid is with buyer's premium added.

I copied this off eBay. If you notice their is a link to Buyer's Premium underlined in blue. The link shows the following information:
Buyer's Premium Minimum Value Maximum Value
% Buyer's Premium
from US $0.00 to US $99.00 20%
from US $100.00 and above 20%

The Buyer's premium is a service fee normally charged in live auctions. Winning buyers must pay an additional amount to the seller based on their bids.

kalch23

I bid $2000 because I was willing to pay $2400 for it.

Russ

This is a common misconception about eBay Live auctions. You were not bidding $2000, you were "raising your paddle". Because of network latency, the auctioneer doesn't see your "paddle" immediately.

Russ, NCNE

Dennisl

The $2250 price is the final price including the buyer's premium.

Russ

<< <i>The $2250 price is the final price including the buyer's premium. >>



If he's looking at the result on eBay, it does not include the juice.

Russ, NCNE

kalch23

<< <i>The $2250 price is the final price including the buyer's premium. >>



Nope. I just got invoiced for $2700 (2250 +450 BP).

kalch23

<< <i>This is a common misconception about eBay Live auctions. You were not bidding $2000, you were "raising your paddle". Because of network latency, the auctioneer doesn't see your "paddle" immediately.

Russ, NCNE >>



So if I "raise my paddle" for the $100 minimum bid on the $4 stella, I could be on the hook for $150,000? C'mon Russ.

PQpeace

Call Superior..ask for Chris..tell him what happened,and there is a good chance he will fix it
Larry

Russ

<< <i>So if I "raise my paddle" for the $100 minimum bid on the $4 stella, I could be on the hook for $150,000? C'mon Russ. >>



Yes, you could. However, with that much spread it is unlikely since there isn't that much latency. There are plenty of people that have learned this lesson the hard say. In fact, it's a small spread in your case. There are examples of doubles happening.

Aside from that, it's silly to bid eBay Live anyway. You're paying an extra 5% in juice. Just bid at their site.

Russ, NCNE

dizzyfoxx

At least you got screwed tonight. ... I didn't win anything.

morgannut2

Look at all the different answers. The fact is one never knows for sure what the final bill will be using this method. I'll never that way again.

RYK

Yes, you could. However, with that much spread it is unlikely since there isn't that much latency. There are plenty of people that have learned this lesson the hard say. In fact, it's a small spread in your case. There are examples of doubles happening.

If I am not mistaken, jbstevens bid on a coin for $100 on ebaylive and ended up with a several thousand dollar purchase a while back. I believe the auction company was kind enough to reverse that purchase. For one increment, you may (or may not) have the same success.

Russ

<< <i>jbstevens bid on a coin for $100 on ebaylive and ended up with a several thousand dollar purchase a while back. >>



It was over $14,000.

Russ, NCNE

scher

Anyone know what lot 1187 went for??? wanted to watch did a mail bid but to slow and gone to figure out what happenned..
Bruce Scher

Deadhorse

<< <i>

<< <i>jbstevens bid on a coin for $100 on ebaylive and ended up with a several thousand dollar purchase a while back. >>



It was over $14,000.

Russ, NCNE >>



Yes, it was something like $14,400 or so. I talked to JB in person shortly after that and they let him off the hook as a no bid.

It WAS a very nice toned Merc, but nowhere near THAT nice.

JLW

<< <i>

<< <i>jbstevens bid on a coin for $100 on ebaylive and ended up with a several thousand dollar purchase a while back. >>



It was over $14,000.

Russ, NCNE >>



Holy mackeral! I knew there was a reason I stayed away from these!
Joe

Bochiman

<< <i>This is a common misconception about eBay Live auctions. You were not bidding $2000, you were "raising your paddle". Because of network latency, the auctioneer doesn't see your "paddle" immediately.

Russ, NCNE >>




Bing bing bing bing!
Winner!

paulinhosong

Bruce, this lot, the taraszka 22, did not sell. Let me know if youre interested in making a private offer on this lot and i will take it to the consignor.

paulinhosong

Contact Susan Fama or Louis Palafoutas in the morning, they will dig into this matter to see how the bidding sequences went for this lot.

Frankcoins

I was bidding on ebay live on that copper sale with all the NCS slabs...Noticed several of my bids
were confirmed as much as $400 or $500 higher than my actual bid. I didn't win anything. Then I noticed
that the commission was higher thru ebay than direct. So never again. Particularly since I am no fan of ebay.

xphobe

Same thing happened to me back in February - my first and only attempt at eBay Live. Bidding opened at $50, I immediately "raised my paddle", and BAM! ended up bidding $2100. Superior graciously allowed me out of that fiasco. I hope they were able to contact the floor underbidder.

But based on that harrowing experience, and also on the extra fees, I will never again use eBay Live.

Oh the humanity.

moosesr

I gave up on Superior's Auctions after a bad experience also, but I was bidding from their web site instead of eBay. Here is a link to what happened to me and Superiors explanation.

Link


Charlie

coinguy1

I have bid numerous times via Superior's website and never had a problem. It's not worth paying 5% extra for the "privilege" to roll the dice through Ebay live.

kalch23

I just found this email in my junk mail:


Hello,



We saw your question posted on the message board of Collector’s Universe. I’m not sure why your $2000 bid would jump to $2250 but we are looking into the matter.



As we continue to make improvements with our live bidding process, we appreciate feedback. In the meantime, we can accept your intended $2000 bid and make the amendment to your invoice. However, this does not change the buyer’s premium or any other terms of the auction.



Please let us know if you have any further questions or concerns.



Sincerely,







Susan Fama
Customer Service
Superior Galleries, Inc.
9478 W. Olympic Blvd.
Beverly Hills, CA 90212
E-Mail: susanf@sgbh.com
Web: www.sgbh.com
Tel: 310-203-9855 Ext. 228
Fax: 310-203-0496

majorbigtime

I had the same crap happen two years ago--I tole the auction house to pound sand! The baked-off, but said I was a Bad person. Who cares?

BigE

Have a trusted dealer bid for you in person, they sometimes visit the forums------------------BigE

BigE

Isn't e-bay live simply a form of advertisement? I had no idea people actually tried to buy expensive coins this way----BigE