Very disappointed with my teletrade results

GoldenEyeNumismatics

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.

icsoccer

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.

mozeppa

bad times are upon us.

Tootawl

There was nothing I really wanted in tonight's auction.
That means mo money for Baltimore!

wondercoin

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

keets

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.

OMINUS

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.

Coxe

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.

mrearlygold

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



Based on teletrade results?

Now that just wouldn't be realistic at all.

GoldenEyeNumismatics

<< <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:




photo's have been juiced a little, but you get the idea.

DennisH

That's one of the reasons why I will never consign to TT again.

GoldenEyeNumismatics

<< <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

Cladiator

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

BAJJERFAN

I've consigned twice to TeleTrade; my first time and my last time.

rays

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.

Frankcoins

The 1843-O is badly damaged, and the silver dollar is very common. For this type of material, auctions are liquidation sales.

OPA

I believe you would have done better selling your "common" stuff on eBay.

koynekwest

I, too had very disappointing results-because of THEIR very poor images of my coins. I no longer deal with them.

Dave99B

I believe you would have done better selling your "common" stuff on eBay.



Dave

GoldenEyeNumismatics

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



Dave >>



I agree, lesson learned

wondercoin

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

Texast

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.

GoldenEyeNumismatics

<< <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?

Texast

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

WTCG

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.

UncleKin

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

Coxe

<< <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.

Texast

<< <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.

Boom

Someone could do quite well if they recognize unattributed VAMS on sight.

291fifth

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.

291fifth

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



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."

goose3

well the lack of the almighty sticker certainly caused all of this....

It would have went for big bucks.

seateddime

I hear your pain

SeaEagleCoins

<< <i>

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



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'...

wayneherndon

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

BAJJERFAN

So how much do you end up paying to set a reserve on a $500 coin that doesn't sell?

fc

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.

pharmer

<< <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.

GoldenEyeNumismatics

<< <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

GoldenEyeNumismatics

<< <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.

mrearlygold

<< <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 >>

millennium

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

coinpictures

<< <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*

OMINUS

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. I am sorry you are so upset about the experience but you have a satisfied customer, thanks. By the way nice pics.

cupronik

Don't you just hate bidders who are just www---eee---aaa---kkk???

wayneherndon

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

pharmer

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.

mirabela

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?

OMINUS

<< <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.

roadrunner

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

bidask

Its an NGC widget, why are you surprised?