Selling coins before in-hand?

RyGuy

This dealer seems to practice that method -

eBay link

Teletrade link

The coin currently listed on eBay is from a Teletrade auction that ended this past Sunday. Obviously the coin is not in hand due to the time the coin was listed, plus he's recycling Teletrade's pictures. How do my fellow forum members feel about this practice? There's nothing wrong with a quick flip IMO, but I think you at least should have the item in your possession.

Edited to add - Many of the coins in his inventory are from Sunday's auction. He apparently outbid me on one of them, wonder if I can pick it up cheaper on eBay?

sinin1

there are others that have done it - they win some and lose some


with bp s/h at Teletrade and eBay/Paypal fees they nee 25% more just to break even


many times sellers use their own bigger/better photos to get that 25%


or buy problem holdered coins and crack-out failing to mention the 'problem'

BAJJERFAN

<< <i>This dealer seems to practice that method -

eBay link

Teletrade link

The coin currently listed on eBay is from a Teletrade auction that ended this past Sunday. Obviously the coin is not in hand due to the time the coin was listed, plus he's recycling Teletrade's pictures. How do my fellow forum members feel about this practice? There's nothing wrong with a quick flip IMO, but I think you at least should have the item in your possession.

Edited to add - Many of the coins in his inventory are from Sunday's auction. He apparently outbid me on one of them, wonder if I can pick it up cheaper on eBay? >>



Does that seller have a reputation for ending auctions for which he will lose money?

RyGuy

<< <i>Does that seller have a reputation for ending auctions for which he will lose money? >>



No idea, guess I'll be the guinea pig.

notwilight

There have been guys who did this and if the coin didn't sell at a profit, returned it to Teletrade. I believe that Teletrade instituted a policy that relisting it for sale shows acceptance of the coin and ends the return period. --Jerry

commoncents05

The seller is a board member, I saw a link to his auctions on the BST yesterday.

-Paul

lcoopie

we are still a capitalist society

coinmanic

Not as big a problem as Chinese fakes, certainly. Teletrade may have an issue with the use of their images. Other than that I do not have a problem with it. Teletrade is a quick shipper and the guy has run a ten day auction. 99.9 out of 1000 times he will be ok. Whether he turns a profit though, is another matter.

joebb21

nothing wrong with flippers.-isnt a dealer a flipper?
some collect for the fun and beauty, some collect to try and make money, and some do both
to each his own, and good luck trying to get it cheaper now!