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Platinum substantially below spot.

botanistbotanist Posts: 524 ✭✭✭
in Precious Metals
Earlier today someone willingly, by accepting a best offer, sold 5 oz of Pamp Swiss Pt on ebay for $1500 an ounce, well below the spot price which is close to 1580. Does that portend a weakening of the Pt market, or was it only an individual aberration? Ebay item number: 330411524968

Comments

  • BigEBigE Posts: 6,949 ✭✭✭
    Looks like trouble for the buyer to me. The seller is using a stock photo for description, and some of the photos appear to be palladium and not platinum, and in the past seems to have only sold toothbrushesimage------------BigE
    I'm glad I am a Tree
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    74 feedback. eBay member for 2.5 months. Negative feedback. Misspellings galore in the listing. The listing shows stock images of platinum, but their images are PALLADIUM bars.

    No way, no how. Hope you get what you think you got.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>Earlier today someone willingly, by accepting a best offer, sold 5 oz of Pamp Swiss Pt on ebay for $1500 an ounce, well below the spot price which is close to 1580. Does that portend a weakening of the Pt market? >>



    Yes, this seller of toothbrushes is the new guru of market forecasting. I'm sure he's unloading thousands of ounces to poor suckers who don't know we're about to have a PM crash. --Jerryimage
  • BigEBigE Posts: 6,949 ✭✭✭
    Platinum--Palladium, whats the difference when you can't spellimage--------BigE
    I'm glad I am a Tree
  • tincuptincup Posts: 5,130 ✭✭✭✭✭
    Yep... somebody's going to get burned on this one. Selling 5 palladium bars as platinum...... no bargain with this one.
    ----- kj
  • botanistbotanist Posts: 524 ✭✭✭
    Whoops, it wasn't a best offer as I previously wrote, it was a buy-it-now. I wasn't involved. Yes, it sure does appear extremely fishy, thanks for the comments!
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    From selling toothbrushes to Platinum? Palladium bars... this seller should be hauled off to jail & I hope, eBay freezes up his funds until confirmation from the buyer.

    Auction Link
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • botanistbotanist Posts: 524 ✭✭✭

    Yes, this seller of toothbrushes is the new guru of market forecasting. I'm sure he's unloading thousands of ounces to poor suckers who don't know we're about to have a PM crash. --Jerryimage >>



    Reminds me of the stories of Wall Street traders acting on stock tips from shoe-shine boys in August 1929.image
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