Teletrade....Has this happened to you

Bah1513

I was keeping an eye on two Sacagawea's in the Sunday Novemeber 8, 2009 auction,a ICG Goodacre and a PCGS Ms 66 Wounded Eagle. I checked on them around 8:30 pm est and as far as I could tell no bids had been placed on them. Sometime after 9 pm est I went back to place a bid on both of them and they were no longer listed. I sent an email to Teletrade asking for a reason for them being pulled early and apparently my question was confusing. I sent another email without any response from teletrade. Why would they pull two coins before the close of the auction....has this happened to you?

mdwoods

I've never had that happen. Maybe they made a mistake listing them in the first place but in any event they should offer an explanation when asked about it.

19Lyds

No it has not happened to me.

CEOGBOSE

Maybe they sold them off line.

PerryHall

<< <i>I was keeping an eye on two Sacagawea's in the Sunday Novemeber 8, 2009 auction,a ICG Goodacre and a PCGS Ms 66 Wounded Eagle. I checked on them around 8:30 pm est and as far as I could tell no bids had been placed on them. Sometime after 9 pm est I went back to place a bid on both of them and they were no longer listed. I sent an email to Teletrade asking for a reason for them being pulled early and apparently my question was confusing. I sent another email without any response from teletrade. Why would they pull two coins before the close of the auction....has this happened to you? >>



I would be more interested in knowing why TT didn't answer you inquiry.

123cents

Very strange even for Teletrade.

DennisH

Another example of lack of transparency at Teletrade.
Another example why I now rarely ever bother to bid on anything at Teletrade.

Halfhunter06

I was also looking at both those coins...possibly the seller had a change of mind.

PawPaul

i seen it happen rarely over the years -

whatever the reason (and it had better be a good one )

what is more disturbing is the B.S response they gave you

Iconbuster

<< <i>i seen it happen rarely over the years -

whatever the reason (and it had better be a good one )

what is more disturbing is the B.S response they gave you >>


There are some innocuous reasons why coins may disappear from Teletrade auctions on occasion. For instance, I had them move my current consignment from this Sunday's auction to the following Sunday to take advantage of their Santa Clara Expo consignment promotion. So anyone who saw my coins on their site last weekend would have seen them "vanish", but they'll be back up in a day or two once they post the 11/22 lots. It's possible the coins mentioned in the OP may reappear in next Sunday's auction or in perhaps in a future auction.

- Bob

Bah1513

They would do that in the MIDDLE of an auction?

Iconbuster

<< <i>They would do that in the MIDDLE of an auction? >>


I imagine there would have to be a substantial reason for them to pull lots during a running auction. Nevertheless, I wouldn't expect them to divulge the reason to persons who are not active bidders on those lots.

wiskerchew

I've watched them list a certain Walker, gets bidded up and the auction ends. The winning amount shows "pending" so when I check the next day it dissapeared from the bidding record. A month or so later it pops back up in an auction and the same thing repeats... This has happended 4 times now and it's the same coin... Wonder what goes on there as well????

Bochiman

<< <i>I've watched them list a certain Walker, gets bidded up and the auction ends. The winning amount shows "pending" so when I check the next day it dissapeared from the bidding record. A month or so later it pops back up in an auction and the same thing repeats... This has happended 4 times now and it's the same coin... Wonder what goes on there as well???? >>



Reserve was higher than the bid. It goes back up for sale in a future auction as it didn't sell.

PQType

<< <i>I've watched them list a certain Walker, gets bidded up and the auction ends. The winning amount shows "pending" so when I check the next day it dissapeared from the bidding record. A month or so later it pops back up in an auction and the same thing repeats... This has happended 4 times now and it's the same coin... Wonder what goes on there as well???? >>



That happens when a seller has a buy back price on the coin. Like a reserve. If its not exceeded buy other bidders the seller has to buy it back. There is a charge. But TT offers a 3 times sell option. If it sells in the next 2 auctions the buyer does not have to pay the buy back fee but a sellers fee instead. I have had coins sell on the 3rd try for more then I had a buy back on the 1st time and I will lower the buy back for the 2nd and 3rd auction. It just takes one person that way who wants the coin and is willing to pay one bid over what the seller has for a buy back.

wiskerchew

Guess I should read the fine print......

Thanks guys