What would you do?

Numis

I've been looking for a 2006 $50 platinum eagle so I search the major auction sites. (not ebay) I find one to bid on and upon closer inspection of the picture notice that the NGC holder is labeled $50, however the coin is a $100 eagle. I bid on it and win it for the price of the $50 coin. I pay and receive it a few days later and it is indeed a $100 mislabeled coin. Do you keep it or let the auction house know.

Numis

I guess silence means consent.

tahoe98

let your conscience be your guide

AUandAG

Wow, that is a coup! I'd feel pretty ........ Hmmmmm, never happened to me so I don't know what
I'd feel. I think that I'd.........Hmmmmm
Good luck, can you sleep ok? I think that is the answer.
bob

ajia

Owner & auction house (and all other bidders) missed it?

The time to say something was before the auction was over, if you were going to say anything.
Not answering what you should do now, just wondering if you do say something at this point what 'good will' that would do.

Owner mad at auction house for not catching the mistake, auction house & owner angry at NGC for mislabeling, etc.

Also, and I hesitate to say it, what guarantee is there that the auction house will nitify the owner of the mistake?
There is that slight possibility that they have paid the owner his share, then when the coin is returned they turn around & resubmit as a $100 APE.

Since the coin isn't mine, it's easy to say "Send it back", but you did nothing wrong in bidding & winning.

Just throwing some thoughts out there.

doh

<< <i>you did nothing wrong in bidding & winning. >>


Very well put. I agree.

oxy8890

<< <i>I've been looking for a 2006 $50 platinum eagle so I search the major auction sites. (not ebay) I find one to bid on and upon closer inspection of the picture notice that the NGC holder is labeled $50, however the coin is a $100 eagle. I bid on it and win it for the price of the $50 coin. I pay and receive it a few days later and it is indeed a $100 mislabeled coin. Do you keep it or let the auction house know. >>



Did you know it was a $100 eagle when you bid?

Snapdragon

I would contact the auction house and discuss it with them. The auction house obviously made a mistake in not representing the coin for their client properly. They may have even had the coin slabbed for the client and not noticed the error. I once found an error on Teletrade on a gold eagle that had the wrong date on the slab, contacted them, and the auction was pulled immediately. The point is that, although you have a windfall gain, the auction house or the client is going to eat a loss on the coin due to what is most likely a clerical error. Perhaps the auction house will give you a percentage for correcting their error and bringing the mistake to their attention...Perhaps they will say "keep it...our mistake." I would guess that since you made this post in the first place, and since you can afford to trade in platinum...you wont miss the windfall gain, and you will feel better if you make an effort to do the right thing.

Snapdragon

ricko

If you have to ask... you already know what you will do.... if you did not ask, you would have made your decision. Cheers, RickO