I'm bidding in my first Teletrade auction tomorrow. Any advice?

SmallEagle · May 31, 2008 12:56AM

Are they more like an EBAY auction or bidding online in a Heritage auction?

SilverEagles92 · May 31, 2008 12:57AM

It's more like eBay than Heritage.

wikyva · May 31, 2008 12:58AM

It seems from my experience that one of the main differences between Heritage and Teletrade is that Heritage seems to always show you what your bid is with the buyer's premium. Teletrade only shows your bid. So don't forget about the premium if you get wrapped up in the bidding.

Chris

blu62vette · May 31, 2008 1:02AM

Take into account your buyers fees and shipping. If it is a cheap item double check the minimum buyers fee.

Roadgold · May 31, 2008 1:02AM

And taxes and high shipping

braddick · May 31, 2008 1:12AM

Decide what your final end price is you are willing to pay and then bid about one minute before the auction(s) end. Wait fifteen minutes or so and then check to see if you won!

BAJJERFAN · May 31, 2008 1:22AM

<< And taxes and high shipping >>

They both have HIGH shipping IMO.

BAJJERFAN · May 31, 2008 1:23AM

<< It seems from my experience that one of the main differences between Heritage and Teletrade is that Heritage seems to always show you what your bid is with the buyer's premium. Teletrade only shows your bid. So don't forget about the premium if you get wrapped up in the bidding.

Chris >>

Prolly done on purpose hopin people fuhgeddaboutit.

SmallEagle · May 31, 2008 1:25AM

<< Decide what your final end price is you are willing to pay and then bid about one minute before the auction(s) end. Wait fifteen minutes or so and then check to see if you won! >>

Thanks!

Shortgapbob · May 31, 2008 1:46AM

Make sure that you look at the coins you are bidding on and not just the holder. I imagine that the Old Green Holder hype is going to bring some pretty strong prices tomorrow. Don't get too caught up in the hype.

BECOKA · May 31, 2008 1:52AM

My major gripe with Teletrade is they don't tell you if the current price is reserve or someone's bid or how many bids there were to get that price.

charley · May 31, 2008 1:58AM

"...Any advice?" Don't? Respectfully, John Curlis

RedTiger · May 31, 2008 2:52AM

Don't spend too much time and energy on it. Teletrade has hidden reserves and house owned coins. Because of that, a bidder doesn't know if the coin is up for true auction, or there is a hidden reserve. As others have said, calculate the take home price with all fees, shipping and possibly taxes--they add up fast.

SmallEagle · May 31, 2008 3:13AM

<< ...Any advice?" Don't? Respectfully, John Curlis >>

GoldenEyeNumismatics · May 31, 2008 3:16AM

<< Are they more like an EBAY auction or bidding online in a Heritage auction? >>

Bid strong and check back before the auction closes to make sure you didn't get outbid.

MidLifeCrisis · May 31, 2008 3:20AM

<< "...Any advice?" Don't? Respectfully, John Curlis >>

I agree with respectful John on this...don't do it!

mrearlygold · May 31, 2008 3:21AM

I agree

BAJJERFAN · May 31, 2008 3:44AM

<< 

<< "...Any advice?" Don't? Respectfully, John Curlis >>

I agree with respectful John on this...don't do it!

>>

Why? If they have a coin that you like at a price you would pay let that be your guide. Be sure to consider all costs and the fact that their return policy can be punitive. No different than any other auction IMO.

MidLifeCrisis · May 31, 2008 5:14AM

<< 

<< 

<< "...Any advice?" Don't? Respectfully, John Curlis >>

I agree with respectful John on this...don't do it!

>>

Why? If they have a coin that you like at a price you would pay let that be your guide. Be sure to consider all costs and the fact that their return policy can be punitive. No different than any other auction IMO. >>

My comment was meant as a joke for the most part...hence the big grin. However, I've always considered Teletrade to be an auction venue that generally handles "widgets" - common, generic coins in a variety of grades but usually not anything special. While that may also hold true to some extent for Heritage, Stacks, Bowers, etc., I considered Teletrade to be basically the equivalent of eBay. Noting SmallEagle's Flambeau Type Set, my advice would still be to hold your money and buy from one of the higher end auction houses or from specialist dealers.

RedTiger · May 31, 2008 5:42AM

<< 

<< 

<< "...Any advice?" Don't? Respectfully, John Curlis >>

I agree with respectful John on this...don't do it!

>>

Why? If they have a coin that you like at a price you would pay let that be your guide. Be sure to consider all costs and the fact that their return policy can be punitive. No different than any other auction IMO. >>

Ebay doesn't have any house owned coins that get relisted for free. Heritage doesn't have hidden reserves once the auction is live. Teletrade the same as other auctions, I don't think so.

I used to buy from Teletrade many moons ago, but got tired of spinning my wheels, playing their games and haven't bought from them in many years.

19Lyds · May 31, 2008 5:45AM

"I'm bidding in my first Teletrade auction tomorrow. Any advice?"

Best advice I have is don;t bid against me.

BAJJERFAN · May 31, 2008 6:07AM

<< 

<< 

<< 

<< "...Any advice?" Don't? Respectfully, John Curlis >>

I agree with respectful John on this...don't do it!

>>

Why? If they have a coin that you like at a price you would pay let that be your guide. Be sure to consider all costs and the fact that their return policy can be punitive. No different than any other auction IMO. >>

Ebay doesn't have any house owned coins that get relisted for free. Heritage doesn't have hidden reserves once the auction is live. Teletrade the same as other auctions, I don't think so.

I used to buy from Teletrade many moons ago, but got tired of spinning my wheels, playing their games and haven't bought from them in many years. >>

At least with TT you don't have to worry about hijacked accounts and stuff like that. You bid the max you are willing to pay and if you get it fine, if not thats ok too. As a seller you don't have to worry about non paying bidders or whether or not the guy is gonna screw you. TT takes all that risk. I assume if a buyer files a chargeback later that TT eats it. Maybe eBay should do the same; let them collect the funds, etc. for you and earn their damn fees.

golfer72 · May 31, 2008 10:50AM

I like TeletradeTtheir pictures of the coins are very good. I dont use Ebay at all because the pictures stink. You cant really see what you are getting. I have gotten many great coins off Teletrade. You do have to wade thru the junk though to find them.

Barndog · May 31, 2008 10:53AM

<< Make sure that you look at the coins you are bidding on and not just the holder. I imagine that the Old Green Holder hype is going to bring some pretty strong prices tomorrow. Don't get too caught up in the hype. >>

meaning: if you wish to win, bid stupid high

SmallEagle · May 31, 2008 11:19AM

<< meaning: if you wish to win, bid stupid high >>

Today's stupid is probably tomorrow's "you suck".

Barndog · May 31, 2008 11:24AM

<< 

<< meaning: if you wish to win, bid stupid high >>

Today's stupid is probably tomorrow's "you suck".

>>

and

because it's true

nicetoning42107 · May 31, 2008 12:52PM

<< 

<< 

<< 

<< 

<< "...Any advice?" Don't? Respectfully, John Curlis >>

I agree with respectful John on this...don't do it!

>>

Why? If they have a coin that you like at a price you would pay let that be your guide. Be sure to consider all costs and the fact that their return policy can be punitive. No different than any other auction IMO. >>

Ebay doesn't have any house owned coins that get relisted for free. Heritage doesn't have hidden reserves once the auction is live. Teletrade the same as other auctions, I don't think so.

I used to buy from Teletrade many moons ago, but got tired of spinning my wheels, playing their games and haven't bought from them in many years. >>

At least with TT you don't have to worry about hijacked accounts and stuff like that. You bid the max you are willing to pay and if you get it fine, if not thats ok too. As a seller you don't have to worry about non paying bidders or whether or not the guy is gonna screw you. TT takes all that risk. I assume if a buyer files a chargeback later that TT eats it. Maybe eBay should do the same; let them collect the funds, etc. for you and earn their damn fees. >>

This is one major advantage of Teletrade whether you are buying or selling.

BAJJERFAN · May 31, 2008 12:58PM

<< 

<< 

<< 

<< 

<< 

<< "...Any advice?" Don't? Respectfully, John Curlis >>

I agree with respectful John on this...don't do it!

>>

Why? If they have a coin that you like at a price you would pay let that be your guide. Be sure to consider all costs and the fact that their return policy can be punitive. No different than any other auction IMO. >>

Ebay doesn't have any house owned coins that get relisted for free. Heritage doesn't have hidden reserves once the auction is live. Teletrade the same as other auctions, I don't think so.

I used to buy from Teletrade many moons ago, but got tired of spinning my wheels, playing their games and haven't bought from them in many years. >>

At least with TT you don't have to worry about hijacked accounts and stuff like that. You bid the max you are willing to pay and if you get it fine, if not thats ok too. As a seller you don't have to worry about non paying bidders or whether or not the guy is gonna screw you. TT takes all that risk. I assume if a buyer files a chargeback later that TT eats it. Maybe eBay should do the same; let them collect the funds, etc. for you and earn their damn fees. >>

This is one major advantage of Teletrade whether you are buying or selling. >>

From a selling standpoint using TT vs eBay is like pulling into the full service lane and having to pump your own gas and other amenities self-service style and the fees with PP and FVF are nearly the same.

segoja · May 31, 2008 1:16PM

If you like the coin, figure an all in price, put in a max bid and ride it out.

The folks who say Teletrade takes bods up to max bid all all wet. I've won coins hundreds of dollars below my max bids. Won many at my max bid as well.

Tiny · May 31, 2008 1:40PM

<< Decide what your final end price is you are willing to pay and then bid about one minute before the auction(s) end. Wait fifteen minutes or so and then check to see if you won! >>

There ya go, Best advice

BAJJERFAN · May 31, 2008 1:41PM

<< 

<< Decide what your final end price is you are willing to pay and then bid about one minute before the auction(s) end. Wait fifteen minutes or so and then check to see if you won! >>

There ya go, Best advice >>

One minute is too much time for smoeone to outbid you; 10 seconds is way better.

I'm bidding in my first Teletrade auction tomorrow. Any advice?

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