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You lose a coin at auction, have remorse, then see it offered again within 2 weeks (update in 1st po

BochimanBochiman Posts: 25,284 ✭✭✭✭✭
what thoughts go through your head?

2 weeks would give someone a chance to receive it, look at it, and return it. So, knowing they lose some money on the return (talking about Teletrade here), one has to wonder what was so wrong with it is was returned.

So, do YOU bid on it again in the new auction? Do you halve your bid, just in case, since you bid pretty strongly before (and were outbid)?

What do YOU do?
What do you think when you see this?


Update: 8/7/10
Thanks for everyone posting their thoughts.
I debated a bit and then put in a lower bid. It must have been the previous "winner" and I at the higher level on the coin as it did go for less this time.

There is a small spot that is hard to see in the TT photos, but once the coin is in hand, and you know where to look, you can see it. Actually, 2 of them. That said, I like the coin and will keep it. The colors GLOW on it. That's what I wanted from an IHC Proof.

Coin came to me today, along with my 55/55ddo lincoln that I had sent to PCGS for the last quarterly special, so it was a good day to stay home and wait for the mailman image

I haven't gotten around to taking pics but here are the TT pics...
image

I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

Comments

  • MoldnutMoldnut Posts: 3,082 ✭✭✭✭
    I think I would let it go without bidding on it.
    Derek

    EAC 6024
  • I'd still bid, but try to get it a for a little less. You won't be the only person that noticed that it got re-listed. It could have been returned for a plethora of reasons. Guessing probably won't be the right choice. You can always return it yourself it it's not up to snuff. You are only gambling with the money you would lose if you have to return it. Think of it as buyer protection investment.image
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭
    I think you can make yourself crazy trying to figure out why other people do the things they do. Not that there's anything wrong with that, of course... image
  • AuroraBorealisAuroraBorealis Posts: 3,591 ✭✭✭✭✭
    If it was cool enough for you to bid strong money the first time you maybe getting a lucky second chance? Many things could be the reason for it to be resold again...Perhaps the first buyer had something unexpected financially come up? May have nothing to do with anything being off with the coin...If you are unhappy with it you can always resell it... image

    Either way good luck with it...

    ABimage
  • braddickbraddick Posts: 22,990 ✭✭✭✭✭
    Teletrade is always about a month ahead on cataloging their auctions.
    If I saw the same coin two weeks later (and I knew it was a purchase and not simply the owner having bid/won himself) I'd assume it was due to nonpayment and be happy to get a second shot.

    peacockcoins

  • BochimanBochiman Posts: 25,284 ✭✭✭✭✭


    << <i>Teletrade is always about a month ahead on cataloging their auctions.
    If I saw the same coin two weeks later (and I knew it was a purchase and not simply the owner having bid/won himself) I'd assume it was due to nonpayment and be happy to get a second shot. >>



    Thanks Pat.
    Coin showed as "won" (and the history shows the same one), which is why I was thinking it was won, delivered, inspected, returned, back up.

    I will likely bid, but am still contemplating and looking even closer at the pics.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • djdilliodondjdilliodon Posts: 1,938 ✭✭
    Id still bid, worse case i just return it if it wasn't up to par.
  • BECOKABECOKA Posts: 16,957 ✭✭✭
    Depends on the scenario. If I saw it at a live auction and then had remorse I would probably bid. But if I never saw it in hand then I would probably pass on this scenario.
  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭
    Always a crapshoot with that. Some in hand are nothing like the pix; others are right on the gnat's ass. I wonder if smoeone at TT would tell you why it was returned.
  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭


    << <i>Always a crapshoot with that. Some in hand are nothing like the pix; others are right on the gnat's ass. I wonder if smoeone at TT would tell you why it was returned. >>



    Agree. It can't hurt to call TT and ask them why it was returned. I would go for it. Just because someone else didn't like it doesn't mean that you won't like it and your opinion is the only one that really matters.

    Worry is the interest you pay on a debt you may not owe.

  • FrozeninkFrozenink Posts: 446 ✭✭
    Teletrade has no idea why it was returned. All you do is send it back within the 7 day period, no explaination needed. I have sent back a couple of coins to TT in the past. I dont know if it is the pictures or my computer screen, but some vary drastically from when I get them in hand.

    Gary
  • drddmdrddm Posts: 5,299 ✭✭✭✭✭
    I wouldn't read too much into it. I would bid on it and check it out in hand for myself.

    Perhaps the other buyer did not like it for some reason. Tastes are different from one collector to another.

    Either way, you have the return privledge with Teletrade, just don't do it too often as they frown up that.

    I've only returned one coin in the past and they didn't give me a problem, but I wouldn't want to do it over and over again.

    Good luck should you decide on placing a bid.
  • ShamikaShamika Posts: 18,759 ✭✭✭✭
    Depends on whose selling it. If it's a dealer, I'd bid away! If it's a collector, I'd probably pass or at least ask the seller if you can return the coin if it appears less than expected.

    Buyer and seller of vintage coin boards!
  • "what thoughts go through your head?"

    Since you asked. It reminds me of a situation a while back. I decided I wanted to get the Mrs. a nice little Hot Rod for summer driving
    and started looking around for an early70's Chevy Nova. (Her Favorite Car) Right out of the gate first day I find one on Ebay. I throw out a bid $2500.00
    thinking that is a more than fair bid. Auction ends and someone smoked me at $3000.00. All is O.K. it is just the beginning and I figure I will have to up the price a little to get her one. I have not collected cars since the late 80's so the prices I have in my head are from that time.
    I begin searching again and all I can find is rusted bodies with no motors for $4000.00 and up. Two weeks later I am thinking that I am going to have to pony up $10,000 or more for a decent one for her. and low and behold I get a second chance offer from Ebay on the one I had bid on and lost. I immediately buy it at $2500.00 and make arrangements to get it home. In talking to the gentleman that I was buying it from I find out
    that I will not have to have it trucked home on a flat bed wrecker. He said Heck you can drive it home. image
    So the Mrs. and my son an niece drove up and got it. And the Mrs. was in seventh heaven driving her new toy home.
    Also has original motor with all matching numbers.image

    People turn down deals for many reasons that may have nothing to do with something being wrong with the item itself.
    All I can picture is the guy that won it at 3000.00 going to inspect it and his wife standing there saying
    "There is no way your spending $3000.00 on a car that is that old" image

    Just one opinion

    Terry
  • anablepanablep Posts: 5,022 ✭✭✭✭✭
    That's happened to me before.

    I've bid & won & been quite happy with my second chance...

    Life is filled with opportunities... why not go for it?
    Always looking for attractive rim toned Morgan and Peace dollars in PCGS or (older) ANA/ANACS holders!

    "Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."


    ~Wayne
  • krankykranky Posts: 8,709 ✭✭✭
    Whether or not the coin was examined in hand, there could be plenty of reasons the coin is still available in 2 weeks.

    He just changed his mind about the coin
    He bid on multiple coins, won more than he expected, couldn't pay for all of them
    Needed the money for something that came up unexpectedly
    Auction was shilled to drive up the price and the shill didn't expect to win
    Found one somewhere else after placing his bid, didn't need two

    I don't think I would assume the worst.

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • PawPaulPawPaul Posts: 5,845
    .........The only way a lot could show up only two weeks after it was "sold" @ Teletrade is if it was never shipped -

    unsold lots roll over into a future auction ; usually two weeks later .

    It is next to impossible to see this case as any other scenario .


    Tell you what you do Bochiebuddy , tell me what the coin is , lay off and let me win it - then I tell you if I get a keeper ! image
  • atarianatarian Posts: 3,116
    If it was good enough for round 1 strong bid and you see the coin the same way and still have the same cash flow I'd bid just like I did the first time knowing winning bidder isn't bidding againist you
    Founder of the NDCCA. *WAM Count : 025. *NDCCA Database Count : 2,610. *You suck 6/24/10. <3 In memory of Tiggar 5/21/1994 - 5/28/2010 <3
    image


  • Bid on it again. I have won several coins from TT that were re-auctioned if that's the term.

    GO FOR IT !!
  • frnklnlvrfrnklnlvr Posts: 2,750
    This has just happened to me too. I was out of town at the beginning of July and couldn't bid on a coin. It's back up in a future auction and I will definitely be bidding this time. Like others have said, worst case you can always return it.
  • tcmitssrtcmitssr Posts: 1,570 ✭✭✭


    << <i>I think I would let it go without bidding on it. >>



    Agreed, something had to be flawed w/it, I would think.
  • BochimanBochiman Posts: 25,284 ✭✭✭✭✭
    Updated in 1st post.
    image

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • PawPaulPawPaul Posts: 5,845
    looks great - but it ain't no Franklin
  • leothelyonleothelyon Posts: 8,349 ✭✭✭✭✭
    You lose a coin at auction, have remorse, then see it offered again within 2 weeks (update in 1st post)

    Unless we're assuming that the coin had actually sold.

    I was under the same impression with a coin that I eventually won. What else do we have to go on when we've seen a coin as sold in the aftermath of an auction. But yet, the coin, in a sense, mysteriously reappears in a later auction. So....I wouldn't ask why a coin was returned but I would ask if the coin actually sold the last time around.


    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

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