Am I missing something here or are these people just stupid

Mercury10c

It's an ebay auction for 1 1oz Silver Mexican Libertad, 2008. Current bid is $52, shipping is $6.
There are sellers offering the same item with a BIN under $30 and lower shipping. Even the
proofs can be had for less money. What am I missing?
Dummies?

cmerlo1

I gave up long ago trying to figure out how and why some people bid what they do on eBay...

TwoSides2aCoin

I saw fifty wheat pennies in a baggie sell at a local auction for $30.

P.S. They were brown

YaHa

<< <i>It's an ebay auction for 1 1oz Silver Mexican Libertad, 2008. Current bid is $52, shipping is $6.
There are sellers offering the same item with a BIN under $30 and lower shipping. Even the
proofs can be had for less money. What am I missing?



Have you ever saw people running into Bestbuy at 5am to get a Xbox, have you ever seen adults racing to get a front row seat at a lawn tractor meet? The problem is not really people are stupid, they just don't have a "CLUE".

RichieURich

I agree with you! I saw someone at a public auction pay $10 for a 50 foot extension cord that had clearly been repaired 4 times!

MrSpud

I don't really know, but the picture shows a 2 oz. coin. Maybe the bidders can't read english good and think it is a 2 oz coin?

Mercury10c

<< <i>I don't really know, but the picture shows a 2 oz. coin. Maybe the bidders can't read english good and think it is a 2 oz coin? >>


Yeah, I noticed that, but he does make it very clear at least twice that it is only a one ounce coin. So maybe people are just stupid.
$58/oz makes me want to sell all my Silver Eagles, Maple Leafs and Libertads.

ricko

I have long since stopped trying to understand the auction mentality. I have seen people bid moon money for items they could walk two blocks and buy for half the money. Cheers, RickO

COINB0Y

Without even reading your post, I say people are stupid!

Griv

I have seen this happen quite a bit. I've been in a bid on an item and then watched some idiot bid it way past the BIN on a similar item from the same seller. I think many people just don't bother to search properly and lock in on the one item that they plan to win regardless. The only time this doesn't aggravate me is when someone does that to one of my auctions, as long as they pay.

The thing you have to remember is we need idiots and could not survive without them. Idiots make it easy to look brilliant. Can you imagine how tough life would be if everyone was brilliant?

charley

I am quite certain it has something to do with a lack of proper ingredients received from a mothers' breast in the first days of life. Respectfully, John Curlis

mach19

How about SHILL

Bochiman

I really do wonder anytime I see an auction where the picture doesn't match the description...and the picture is usually for something better/worth more.....

halfhunter

Some folks, I guess never read the description - only look at the pictures.

They're sure to be pi$$ed when they receive a 1 Onza! If they file a SNAD they'll win.

IMO it's not very smart of a seller to post a pic of something different than whats for sale.
Thats just asking for trouble.

Regards,

John

Griv

I will sometimes use a "stock photo" if I am selling similar PCGS graded MS/PR69 Eagles as long as none of them being sold have any different characteristics such as toning. If it has any uniqueness then an actual photo of the item must be used. IMO

garsmith

I agree with COINBOY but it could also be that A***A is a shill

MilesWaits

I saw this recently happen with J&T Coins where a gold Libertad went for way over value and I emailed them with a congratulations and hope you get paid note.
I have purchased stuff from Jim for a few years with great service, on and off of ebay.
By the way, some people just get carried away with Libertads. They believe them to have magic, angelic like powers, I guess!

Miles

Colquhoun

This Auction makes it look like someone didn't shop arround.
non key date libertads are normally going for right under $28 shipping included now.

Griv

I am tracking a dozen Teletrade auctions and 10 of 12 are already far above any of the past recent auctions. $48 coin up to $200. That and you can see that 3 of 12 were 1 of the 4 previous sales and the current price is 50% above what it sold for 2 weeks ago. A little seller manipulation. I hate that sellers can bid up their own coin there.

Barberian

<< <i>I have long since stopped trying to understand the auction mentality. I have seen people bid moon money for items they could walk two blocks and buy for half the money. Cheers, RickO >>



I see this occur when 2 people want a coin badly and post a ridiculously high bid to ensure they will win. In the last seconds when a bidder sees their high bid has been topped by the other party, they then lose all rational thought and throw up an even more ridiculous bid. It happened to me once. I ended up paying 3 times more than what the coin is worth. I could have waited another day and got a similar coin for book value. The funny thing was that other sellers saw the high price realized and thought it was some kind of actual jump in the coin's value. They added all kinds of close-up pictures and descriptions of their coins of the same date.

Colquhoun

<< <i>I am tracking a dozen Teletrade auctions and 10 of 12 are already far above any of the past recent auctions. $48 coin up to $200. That and you can see that 3 of 12 were 1 of the 4 previous sales and the current price is 50% above what it sold for 2 weeks ago. A little seller manipulation. I hate that sellers can bid up their own coin there. >>


What type of coins? I know of at least one morgan that has traded recently for about 6x what the norm is on Teletrade, becuase at least 2 people VAMed it.

PrivateCoinCollector

I think it is a great question to ask if you are missing something. Looks like the answer is no. But we really should leave it at that. Where is it written that auctions are always a deal? They whole idea of an auction is to maximize sales prices. Just wish it would happen more on my stuff :-(