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Very disappointed with my teletrade results

consigned a couple of pieces to them at Coinfest. It was my first time doing so. The auction ended tonight--I was very unhappy.

greysheet BID is $120! Color not represented too well, much more vibrant in person. Nevertheless, come on!!!!!

Barely over melt?!?!? It's a very scudzy coin (not really cleaned though), but I expected at least $400 for such a better date.
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Comments

  • icsoccericsoccer Posts: 1,339 ✭✭✭
    I'm dissapointed also. I had to go $40 over ask for a coin I wanted. It's all about connecting up
    with the right buyer at the right time. My seller is smiling while your buyer is smiling. Hmmmm...
    Better luck next time, I think it takes a few tries to see if it will even out for you as a seller.
    Successful BST transactions to date: Coindeuce, Cohodk, dantheman984, STONE, LeeG, jy8s, jkal, SeaEagleCoins, Hyperion, silverman68,Meltdown,RichieURich,savoyspecial,Barndog
  • mozeppamozeppa Posts: 4,431 ✭✭✭
    bad times are upon us.image
  • TootawlTootawl Posts: 5,877 ✭✭✭
    There was nothing I really wanted in tonight's auction.
    That means mo money for Baltimore!
    PCGS Currency: HOF 2013, Best Low Ball Set 2009-2014, 2016, 2018. Appreciation Award 2015, Best Showcase 2018, Numerous others.
  • wondercoinwondercoin Posts: 16,991 ✭✭✭✭✭
    I had a number of lots in tonight's TT sale as well and, I believe, it was a bit slower than the past couple weeks. But, it is a holiday weekend -sometimes sales are great on holiday weekends and sometimes not so great.

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    the only thing i don't like about consigning to TeleTrade is that i have little/no control over when the coins are sold, which day. i don't necessarily think Sunday night is the best day at that venue. all that aside and no offense meant, but the coins are, well, not really very nice looking. i have realized close to what i expected each time i've sold through TeleTrade and i think you need to be careful what you sell there, just as you need to put some thought into what you'd sell on eBay, send to one of the major auction houses, sell to a dealer at a shop or peddle at a show.
  • Um, I don't know what to say, I won the Morgan. I didn’t think it would go for that low, especially with the toning. Most toners go over the PCGS price guide. If it makes you feel better I have gotten beat up by Teletrade buyer fees and have over paid for many coins.
  • CoxeCoxe Posts: 11,139
    I have taken beatings at TT, HNAI and eBay, all the same. Win some and lose some. Your '86 Morgan was up with two PCGS 65s that were both VAM-1C (Hot-50). Problem coins often get trashed, regarding the other one.
    Select Rarities -- DMPLs and VAMs
    NSDR - Life Member
    SSDC - Life Member
    ANA - Pay As I Go Member
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭


    << <i>bad times are upon us.image >>



    Based on teletrade results?

    Now that just wouldn't be realistic at all.


  • << <i>the only thing i don't like about consigning to TeleTrade is that i have little/no control over when the coins are sold, which day. i don't necessarily think Sunday night is the best day at that venue. all that aside and no offense meant, but the coins are, well, not really very nice looking. i have realized close to what i expected each time i've sold through TeleTrade and i think you need to be careful what you sell there, just as you need to put some thought into what you'd sell on eBay, send to one of the major auction houses, sell to a dealer at a shop or peddle at a show. >>



    The morgan:

    image
    image

    photo's have been juiced a little, but you get the idea.
  • DennisHDennisH Posts: 14,010 ✭✭✭✭✭
    That's one of the reasons why I will never consign to TT again.
    When in doubt, don't.


  • << <i>Um, I don't know what to say, I won the Morgan. I didn’t think it would go for that low, especially with the toning. Most toners go over the PCGS price guide. If it makes you feel better I have gotten beat up by Teletrade buyer fees and have over paid for many coins. >>



    Well this is pretty awkward
  • CladiatorCladiator Posts: 18,186 ✭✭✭✭✭


    << <i>bad times are upon us.image >>

    image
  • BAJJERFANBAJJERFAN Posts: 31,219 ✭✭✭✭✭
    I've consigned twice to TeleTrade; my first time and my last time.
    theknowitalltroll;
  • raysrays Posts: 2,424 ✭✭✭✭✭
    I have never understood why anyone would consign nice coins for the grade to teletrade, when the potential bidders can't examine the coins in person.
  • FrankcoinsFrankcoins Posts: 4,571 ✭✭✭
    The 1843-O is badly damaged, and the silver dollar is very common. For this type of material, auctions are liquidation sales.
    Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
  • OPAOPA Posts: 17,136 ✭✭✭✭✭
    I believe you would have done better selling your "common" stuff on eBay.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • koynekwestkoynekwest Posts: 10,048 ✭✭✭✭✭
    I, too had very disappointing results-because of THEIR very poor images of my coins. I no longer deal with them.
  • Dave99BDave99B Posts: 8,659 ✭✭✭✭✭
    I believe you would have done better selling your "common" stuff on eBay.

    image

    Dave
    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.


  • << <i> I believe you would have done better selling your "common" stuff on eBay.

    image

    Dave >>



    I agree, lesson learned
  • wondercoinwondercoin Posts: 16,991 ✭✭✭✭✭
    My ebay sales are down nearly 95%-98% year over year AND I COULDN'T BE HAPPIER (and my overall sales are doing just fine). IMHO, too many problems over there. While Teletrade is not perfect (as any other auction company for that matter) it is sure nice to sell five figures of coins each week without having to deal with PAYPAL, ebay rules, shipping, lost packages, best offers counteroffers, retracted bids, closed auctions, non-paying winners, feedback, auction photos, etc, etc., etc. I sold close to 1,000 coins in the past month on Teletrade - that's a lot of pictures and ebay auctions my friends.

    To each his own.

    Wondercoin



    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • TexastTexast Posts: 1,899 ✭✭✭✭
    I know your not going to want to hear this, but is that a VAM 19 on the 86? I see a couple of diagnostics (one of the nicer things about windows vista is being able to zoom in), you may want to look at this a little closer.
    On BS&T Now: Nothing.
    Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
    Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.


  • << <i>I know your not going to want to hear this, but is that a VAM 19 on the 86? I see a couple of diagnostics (one of the nicer things about windows vista is being able to zoom in), you may want to look at this a little closer. >>



    Don't make me piss myself.

    Does a VAM 19 have any extra value?
  • TexastTexast Posts: 1,899 ✭✭✭✭
    It is a Top 100 VAM, gets scarce above MS64 Intrest rating 3 Rarity rating 5, that is if it's a vam 19...
    On BS&T Now: Nothing.
    Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
    Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
  • WTCGWTCG Posts: 8,940 ✭✭✭
    Regardless of which auction company you consign with, there are some consignments that perform well and others that realize prices below satisfactory levels. It's really a matter of whether the right buyer happens to be bidding when your coins are presented for sale, and it's something you have little control over.

    I also had a consignment in the sale tonight (of mostly Morgan Dollars) and they sold for fairly high prices.
    Follow me on Twitter @wtcgroup
    Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
  • If you folks want a online auction catered to collectors of coins, talk to me.

    I am a web developer. And not your fly by night type. I was senior consultant at Boeing, Captial One, etc during the dot com days in the 90's.

    I am in the "proving the concept" stage right now for a coin trading website. Essentally a library of private coin lists that cross reference Have and Wants and Wants and Haves between members. I threw it together about 2 weeks ago. But I can compose an online auction too. And I have thought about moving that direction. But I would need input from folks - pros and cons from both the buying and selling side. And as I build it, you all could tell me what works and what does not. In essence a users community to help guide its development. Credit cards would not be welcome because of the issues here. So purchases would be cashiers check, private check or money order.

    Here is the current website I am proofing right now. I put it up a few weeks ago and about 12 members there now. I will give it a domain name and put 100 percent into it when I get 20 or so serious traders using it. And since I 10 people joined in 2 weeks, I am certain it is a go...

    http://www.ispcowboy.com/mycoins

    -UncleKin
  • CoxeCoxe Posts: 11,139


    << <i>It is a Top 100 VAM, gets scarce above MS64 Intrest rating 3 Rarity rating 5, that is if it's a vam 19... >>



    I believe you are thinking of the 1896, not the 1886. (Also, I believe the '96 VAM-19 is much more common than the originally assigned rarity. They can be found up into very high grades.)

    There were a few very nice VAMs among the Morgans. Someone got an 1878 VAM-5 in PCGS 63 for a relatively low bid of $775. The star, in my opinion, was the 1881-S VAM-1B. I had looked for one of those for years and this one was a rainbow reverse beauty in PCGS 63 plastic. An extremely common date in that grade but an underrated and underfollowed rarity as a variety. I am sure the consignors of a few Morgans were surprised by the bids.
    Select Rarities -- DMPLs and VAMs
    NSDR - Life Member
    SSDC - Life Member
    ANA - Pay As I Go Member
  • TexastTexast Posts: 1,899 ✭✭✭✭


    << <i>I believe you are thinking of the 1896, not the 1886 >>



    I stand corrected, you are right about that. I guess what I was thinking was the VAM 17 for the 1886 and stated 19, the 17 only has an I2 R3 rating. It has been a long day. Thanks for picking that up. image
    On BS&T Now: Nothing.
    Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
    Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
  • BoomBoom Posts: 10,165
    Someone could do quite well if they recognize unattributed VAMS on sight. image
  • 291fifth291fifth Posts: 24,583 ✭✭✭✭✭
    The gold coin is ugly and this is a time when the "market" isn't interested in ugly coins.

    The 1886 dollar is just another common date NGC Morgan. This type of material is soft so I'm not surprised at the result.

    All glory is fleeting.
  • 291fifth291fifth Posts: 24,583 ✭✭✭✭✭


    << <i>Someone could do quite well if they recognize unattributed VAMS on sight. image >>



    Only if you can find a cash buyer. The VAM market still appears to be mostly a one-way market where the players "make their own."
    All glory is fleeting.
  • goose3goose3 Posts: 11,471 ✭✭✭
    well the lack of the almighty sticker certainly caused all of this....

    It would have went for big bucks.
  • seateddimeseateddime Posts: 6,180 ✭✭✭
    I hear your pain
    I seldom check PM's but do check emails often jason@seated.org

    Buying top quality Seated Dimes in Gem BU and Proof.

    Buying great coins - monster eye appeal only.


  • << <i>

    << <i>Someone could do quite well if they recognize unattributed VAMS on sight. image >>



    Only if you can find a cash buyer. The VAM market still appears to be mostly a one-way market where the players "make their own." >>




    In my area of the country...NJ... there are a number of 'vammers'... I have a number of identified VAMs... the problem is that these 'vammers' don't enjoy buying VAMs that are already identified...

    They have told me that they get their enjoyment out of cherrypicking VAMs that have not been ID'd by the seller...seems that the fun for them is in the hunt...and the 'rip'...
    Re: Slabbed coins - There are some coins that LIVE within clear plastic and wear their labels with pride... while there are others that HIDE behind scratched plastic and are simply dragged along by a label. Then there are those coins that simply hang out, naked and free image
  • wayneherndonwayneherndon Posts: 2,357 ✭✭✭
    You have to set reserves. If you don't, there will be times when you're not happy with the result.

    This rule applies to all auction venues, not just TT.

    WH
  • BAJJERFANBAJJERFAN Posts: 31,219 ✭✭✭✭✭
    So how much do you end up paying to set a reserve on a $500 coin that doesn't sell?
    theknowitalltroll;
  • fcfc Posts: 12,793 ✭✭✭
    95 seems expensive for a morgan of almost any date.
    every antique store i goto has these things lieing around
    at prices no one wants to pay.

    some cleaned, some not cleaned.


  • << <i>If you folks want a online auction catered to collectors of coins, talk to me.

    I am a web developer. And not your fly by night type. I was senior consultant at Boeing, Captial One, etc during the dot com days in the 90's.

    I am in the "proving the concept" stage right now for a coin trading website. Essentally a library of private coin lists that cross reference Have and Wants and Wants and Haves between members. I threw it together about 2 weeks ago. But I can compose an online auction too. And I have thought about moving that direction. But I would need input from folks - pros and cons from both the buying and selling side. And as I build it, you all could tell me what works and what does not. In essence a users community to help guide its development. Credit cards would not be welcome because of the issues here. So purchases would be cashiers check, private check or money order.

    Here is the current website I am proofing right now. I put it up a few weeks ago and about 12 members there now. I will give it a domain name and put 100 percent into it when I get 20 or so serious traders using it. And since I 10 people joined in 2 weeks, I am certain it is a go...

    http://www.ispcowboy.com/mycoins

    -UncleKin >>




    There are a few folks on here who have done that, they advertise their sites in their siglines. Maybe you all could work together and put eBay out of our misery. It's horrible, as you can see from all the threads about how horrible it is.
    Quis custodiet ipsos custodes?

    Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."

    image


  • << <i>95 seems expensive for a morgan of almost any date.
    every antique store i goto has these things lieing around
    at prices no one wants to pay.

    some cleaned, some not cleaned. >>



    Bid for a 65 widget is $120. And the sheets aren't wrong---that's usually what they go for


  • << <i>If you folks want a online auction catered to collectors of coins, talk to me.

    I am a web developer. And not your fly by night type. I was senior consultant at Boeing, Captial One, etc during the dot com days in the 90's.

    I am in the "proving the concept" stage right now for a coin trading website. Essentally a library of private coin lists that cross reference Have and Wants and Wants and Haves between members. I threw it together about 2 weeks ago. But I can compose an online auction too. And I have thought about moving that direction. But I would need input from folks - pros and cons from both the buying and selling side. And as I build it, you all could tell me what works and what does not. In essence a users community to help guide its development. Credit cards would not be welcome because of the issues here. So purchases would be cashiers check, private check or money order.

    Here is the current website I am proofing right now. I put it up a few weeks ago and about 12 members there now. I will give it a domain name and put 100 percent into it when I get 20 or so serious traders using it. And since I 10 people joined in 2 weeks, I am certain it is a go...

    http://www.ispcowboy.com/mycoins

    -UncleKin >>



    I'm willing to talk. This could be great.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭


    << <i>You have to set reserves. If you don't, there will be times when you're not happy with the result.

    This rule applies to all auction venues, not just TT.

    WH >>



    image
  • I'm surprised they sold at all..both coins are ugly. No offense. But that alone would explain the low numbers.
  • coinpicturescoinpictures Posts: 5,345 ✭✭✭


    << <i>I'm surprised they sold at all..both coins are ugly. No offense. But that alone would explain the low numbers. >>



    One man's trash...

    I happen to think the Morgan is attractive...

    *shrug*
  • Beauty is in the eye of the beholder. I bid what I was willing to spend on the Morgan. I think it is a very nice coin. I am very happy with the purchase and looking forward to seeing it in hand. I have seen a lot of ugly Morgans go far above what I think is a far price, just because it’s toned. I don’t want to steal your thread, I just got a little defensive, and a lot of members are calling my purchase ugly. image I am sorry you are so upset about the experience but you have a satisfied customer, thanks. By the way nice pics.
  • cupronikcupronik Posts: 773 ✭✭✭
    Don't you just hate bidders who are just www---eee---aaa---kkk???
  • wayneherndonwayneherndon Posts: 2,357 ✭✭✭
    So how much do you end up paying to set a reserve on a $500 coin that doesn't sell?

    That depends on the arrangement you have with the auction house (TT or other). If you don't do much volume, you'd be better off working through a dealer who does.

    WH
  • Read the terms on buybacks/reserves on the site under selling. It's a bargain, I assure you, versus selling a valuable coin without a safety net. You buy insurance, right? Consider it a cost of doing business if you sell expensive coins on TT.
    Quis custodiet ipsos custodes?

    Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."

    image
  • mirabelamirabela Posts: 5,092 ✭✭✭✭✭
    Is that 95 before the buyer's premium? Because if it is, that means someone paid $106, plus $8 to ship it, or $114. That's about what that coin would trade for at a show, isn't it?

    mirabela


  • << <i>Is that 95 before the buyer's premium? Because if it is, that means someone paid $106, plus $8 to ship it, or $114. That's about what that coin would trade for at a show, isn't it? >>


    Yes. $111.40 final cost.
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    I know I wouldn't pay $110 or even $105 for such a coin right now. I can't even get anyone to look at Morgan dollars.
    Another one, no matter how discounted is not me helping any.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • bidaskbidask Posts: 14,017 ✭✭✭✭✭
    Its an NGC widget, why are you surprised?
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




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