Poll: Underpriced BIN listing, what would you do?

rbf

Consider this hypothetical situation. You are browsing a seller's listings, and come across a coin that appears to be priced WAY TOO LOW compared to the seller's other listings. This mis-pricing is so obvious, undoubtedly it must have been a mistake on the part of the seller. Perhaps the seller was looking at the wrong column in the Greysheet, or he/she made a typographical error in haste. Who knows? All you know is, the item being offered is a real steal of a deal.

TomB

I have been on both sides of this issue. Perhaps three years ago a forum member had a coin listed on ebay and his BIN was about 10% of the value of the coin so I immediately purchased it and sent him a message that I did so in order for him to reset his listing without having the hassle of someone attempting to buy the coin at the listed BIN. More recently, last week I had a BST thread going and had listed an item at about 25% of its value when a member sent me a PM to inform me of my error without ever trying to pick me off.

jonathanb

What Tom says. Sometimes I've sent a message. Sometimes I've bought the item and immediately offered to return it (that is, I made made sure that nobody else could jump in before the seller saw my message, but without intending to hold the seller to the sale). And yes, sometimes I've left the item for someone else, and sometimes I've bought the item and flipped it for a profit. Depends on how I'm feeling on any given day.

blu62vette

I pm'd a BST seller last week for a coin that was half of bid. I then bought it for a little under bid. He gave me a deal for letting him know.

anablep

#1

lkeigwin

You won't be the only one to notice. If you don't BIN someone else will. It is highly likely that person won't have any remorse over the rip.

I'd BIN preemptively, and then contact the seller with the truth. If he's okay selling it at the BIN price, fine. If it was a mistake and he's grateful I would agree to kill the purchase. Then I'd have a cold gin martini or single malt scotch and feel good about it.
Lance.

PQType

Intersting......When does it become cherry picking and when is a moral dilemma?

rbf

<< <i>If it was a mistake and he's grateful I would agree to kill the purchase. >>


Even if he's not grateful, I think I would agree to cancel the transaction anyway. In any situation involving sellers' remorse, I would assume there's a higher probability of having one's item get mysteriously "lost" in the mail, among other things. Personally, I would not want to take the risk of knowingly doing business with a disgruntled seller.

notwilight

If you plan to be helpful to the seller you should always buy it immediately before someone else does. --Jerry

pakasmom

Can't vote in the poll for some reason. But if I could, I'd go with the second choice.

PerryHall

<< <i>You won't be the only one to notice. If you don't BIN someone else will. It is highly likely that person won't have any remorse over the rip.

I'd BIN preemptively, and then contact the seller with the truth. If he's okay selling it at the BIN price, fine. If it was a mistake and he's grateful I would agree to kill the purchase. Then I'd have a cold gin martini or single malt scotch and feel good about it.
Lance. >>



Agree. Best answer. BIN it so the seller doesn't get ripped and then try to educate the seller.

MidLifeCrisis

<< <i>Depends on how I'm feeling on any given day. >>


Ditto

ricko

The poll does not work... however, I would BIN it and then discuss it with the seller. Cheers, RickO

2manycoins2fewfunds

I'd first read auction very, very ,very carefully.


Too many times there is a reason for the low price buried in the description text.

garsmith

Consider it a blessing and buy it.

nicetoning42107

Context. Depends on the situation exactly. How underpriced is it? If a 3 figure coin has been listed for 99 cents at a BIN, it is reasonable to assume it was supposed to be an auction. In this case i might buy it and let the seller relist it correctly or just not mess with it all together. Depends on context and what mood i am in. Just because this coin is underpriced when all others are priced correctly does not mean the underpricing is a mistake. Maybe they do not know the series, etc.

If i should buy anything for "too cheap" on BIN and the seller should say it was a listing mistake i will let the seller off the hook probably every time. If the seller ends up saying nothing, i get to keep it.

Edit to add: The poll is too vague as to the actual situation. As i explained above i might do all 3 in certain low BIN situations.

lathmach

Keep in mind, some sellers have no idea of what the value is of what they're selling.

Ray

lkenefic

I said "Other" and just for the reasons in TomB's response.

PerryHall

<< <i>Keep in mind, some sellers have no idea of what the value is of what they're selling. >>



In that case they shouldn't be using the BIN option.

DennisH

I've been in this position twice. I notified the seller both times.

RaginsteveK

if it looks like a typo, only one choice, really.

if seller apparently has overlooked something, it's wide open.
(needs to be a bit less hypothetical)

oxy8890

<< <i>Consider it a blessing and buy it. >>



Ahh...nothing like a higher power telling you to rip someone!

sanitarium1inmate

I'm with the BIN and inform the seller. Offer it back at no charge to either party and who knows they may just say keep it. Goes with the saying "Let it go and if it comes back to you then it is yours"

mozin

The poll does not work!

I vote to BIN, and hope the seller actually ships the item.

TennesseeDave

Maybe the seller wanted to sell a $1000 coin for $100.BIN and wait to see if they send an e-mail or PM saying they made a mistake.If I decide to sell all my coins very cheap,due to a divorce settlement or something,I don't want everyone PM'ing me to offer me more than my BIN price.

RegistryCoin

Buy it immediately with the BIN, don't pay right away, send a note to the seller notifying him of his mistake and let him decide what to do. The dealers are generally very appreciative, and may offer the coin, if there is interest, at a reduced rate, or, they may offer another coin from their inventory at a rate that shows their appreciation.

MsMorrisine

PCGS needs to fix a poll bug?

originally chose #2... but after reading the replies. I'd BIN and notify the seller.

YaHa

This is a oxymoron question right?

Barbercoin

First of all, I'd like to see one of these situations in real life.

Then of course I would "hope" to make the right decision. But then again, where exactly does it become a gross mistake on the seller's part or just a low price to liquidate for what could be many personal reasons.

ziggy29

I've encountered this. A seller once posted an 1883 Liberty Nickel with CENTS in PCGS MS-63 which was tagged with a BIN price obviously based on the No CENTS variety.

I immediately hit the BIN and notified them that while I'd be happy to have the coin for $35 or whatever it was, I assumed it was a mistake and wanted to help them avoid encountering an unreasonable buyer.

They thanked me for doing so and sent me an SAE as a "reward".

Bcsican

This is like going to a coin show and telling the dealer your not charging me enough...

Sometimes you win and sometimes you lose....

lonelyp

I voted proceed with the buy,

But I would let the seller off the hook if he just asked me to. If he didn't ask I would have to assume it wasn't a mistake.

What happened to the polls?
I voted and it didn't show results? I clicked the vote button a second time, and it opened a results window. But listed all results as 0.

I was also having trouble opening the thread.
????