TeleTrade???
BAJJERFAN
Posts: 31,392 ✭✭✭✭✭
Anyone ever had TeleTrade buy your coins that ou had on consignment with them? I had a few up a couple weeks ago. One of them was relisted for tonight. I assumed it was a return even tho I didn't participate in the guaranteed sold deal. I see it is currently pending so it didn't sell tonite. I assume then that TT bid on it and won it the first time.
theknowitalltroll;
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San Diego, CA
TT often starts a coin at a computer generated (?) opener. If no one bids higher than the open, it gets recycled to another auction. It's a nice feature, actually.
<< <i>If you look at your results from the initial auction, you will likely see that the coin did not open.
TT often starts a coin at a computer generated (?) opener. If no one bids higher than the open, it gets recycled to another auction. It's a nice feature, actually. >>
I didn't put a reserve on it and according to their report it sold. Last nite it ended $60 higher than the first time and it still didn't sell. It also didn't show the your consignment logo upon relisting.
AB
Wondercoin
Have you asked TT about it?
I know that a couple of times I had a question, I got very quick, and professional, answers from Irma.
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
Successful BST transactions with: Tdec1000(2x), SeaEagleCoins, sweetwilliet, piecesofme, MICHAELDIXON, lkeigwin, Gerard, THEGENERAL, ponderit, pursuitofliberty, AnkurJ, kryptonitecomics
<< <i>I suspect that Teletrade has been buying some (most?) returned coins as of late. It keeps consignors happy plus it allows them to bolster their auction listings with these coins as I've noticed the number of offered items on their site has generally been lower compared to a year or two ago. >>
I was searching TT last night for this weeks auctions, and it was very weak selection wise. I know each auction varies but even mon, wed, and Sunday didn't have many pages to search through.
<< <i>I would certainly welcome TT to buy any coins they wanted from my consignment ... the more bidders the better!!
Wondercoin >>
Agreed, except I was hoping for more $$$ no matter who bought it. Depending on whether or not they paid themselves the juice on the purchase, they passed up a pretty nice profit last night.
Wondercoin
<< <i>Bajerfan: I did not understand your last post?
Wondercoin >>
I agree that it is nice to have TT as a bidder along with their regular customers. I was hoping the coin might have brought a higher hammer price than it did on 04/03 no matter who got it. It hammered for $60 more last night than it did on 04/03 and still didn't sell.
When you say it "hammered for $60 more" last night ... actually it did not hammer at all. Whomever owns it tried to get $60 more last night and was unsuccessful it appears.
Wondercoin
My Opinion: When there was plenty of "A" and "B" material around, Teletrade seemed positioned to get a lot of the B stuff and a little A. Now it feels like the A material is scarce, dealers and the major auction houses are getting most of the A, and fighting for the B. So there's not as much interesting material left for TT in their marketing position.
Maybe I'm dreaming all this.
<< <i>OK .. got it.
When you say it "hammered for $60 more" last night ... actually it did not hammer at all. Whomever owns it tried to get $60 more last night and was unsuccessful it appears.
Wondercoin >>
Yes of course, my error. Does it ever happen where someone wins at auction and instead of taking the coin just asks the auction house to relist it for them?
Successful Trades: Swampboy,
That can certainly happen. I have also been told that at least on one occasion a buyer worked out some sort of delayed payment plan on a coin they purchased, but failed to follow through. Teletrade was nice enough to just pay me off on the 38th day (settlement) and relist the coin for sale. In such a case, they might lose money or make money. I hope they make money. It appears to me they are doing a much better job this year at ensuring buyers pay for their lots or determining to cancel a sale where they suspect they will not be getting paid.
Wondercoin
<< <i>So let me ask... what are your opinions on Teletrade vs eBay when it comes specifically to cash in pocket after fees. Who's better? >>
Teletrade charges a flat 8% which beats eBay 12% to death. Not to mention the 3% cut that PayPal takes.
However, there are no guaranteed sales and a sellers buyback bid may just buy back his submission at 5% (if the coin does not sell.
IMO, Teletrade is the better value but its gets limited on coin descriptions.
I have seen stuff sell on Teletrade for FAR more than it would ever bring on eBay as there is a dedicated bidding staff thats always surfing the TT offerings.
The name is LEE!
<< <i>
<< <i>So let me ask... what are your opinions on Teletrade vs eBay when it comes specifically to cash in pocket after fees. Who's better? >>
Teletrade charges a flat 8% which beats eBay 12% to death. Not to mention the 3% cut that PayPal takes.
However, there are no guaranteed sales and a sellers buyback bid may just buy back his submission at 5% (if the coin does not sell.
IMO, Teletrade is the better value but its gets limited on coin descriptions.
O have seen stuff sell on Teletrade for FAR more than it would ever bring on eBay as there is a dedicated bidding staff thats always surfing the TT offerings. >>
You are leaving out the buyer's fees though. When I buy on TT, I factor in that 15%, or close to it, so the final bid price is lower than on ebay. When I buy on ebay, my final bid is my final price. The end price is what the seller's fees come from, and the final price is different (if folks are remembering to factor in buyer's fees).
For instance, if I am buying on ebay, if I value something as $100, then I bid $100 and win, and that is what I send to the seller.... $100 (plus any shipping, but since TT has shipping, and it is more expensive than most ebay seller's, let's not even add that in). From that $100, the ebay seller's fee is calculated.
Now, for buying on TT. If value something as $100, then I back out 15% and make my bid. If I win with that LOWER bid, then the seller gets that final price (minus his fees).
Seems to me that, from an apples to apples, a seller will net less on TT (but, maybe people will bid more as they are more comfortable buying from TT than a random ebay seller???)
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
<< <i>So let me ask... what are your opinions on Teletrade vs eBay when it comes specifically to cash in pocket after fees. Who's better? >>
That is a hard one to answer. I have not sold on eBay in quite a spell. My latest TT consignment did not turn a profit, but I'm not surprised. With TT you just send em off and collect a check. For schlock, I don't bother with reserves. With TT you don't have the hassle of returns, scammers, feedback extorters and stuff like that.
<< <i>
<< <i>
<< <i>So let me ask... what are your opinions on Teletrade vs eBay when it comes specifically to cash in pocket after fees. Who's better? >>
Teletrade charges a flat 8% which beats eBay 12% to death. Not to mention the 3% cut that PayPal takes.
However, there are no guaranteed sales and a sellers buyback bid may just buy back his submission at 5% (if the coin does not sell.
IMO, Teletrade is the better value but its gets limited on coin descriptions.
O have seen stuff sell on Teletrade for FAR more than it would ever bring on eBay as there is a dedicated bidding staff thats always surfing the TT offerings. >>
You are leaving out the buyer's fees though. When I buy on TT, I factor in that 15%, or close to it, so the final bid price is lower than on ebay. When I buy on ebay, my final bid is my final price. The end price is what the seller's fees come from, and the final price is different (if folks are remembering to factor in buyer's fees).
For instance, if I am buying on ebay, if I value something as $100, then I bid $100 and win, and that is what I send to the seller.... $100 (plus any shipping, but since TT has shipping, and it is more expensive than most ebay seller's, let's not even add that in). From that $100, the ebay seller's fee is calculated.
Now, for buying on TT. If value something as $100, then I back out 15% and make my bid. If I win with that LOWER bid, then the seller gets that final price (minus his fees).
Seems to me that, from an apples to apples, a seller will net less on TT (but, maybe people will bid more as they are more comfortable buying from TT than a random ebay seller???) >>
You may bid that way Ron but most Teletrade bidders do not.
As I said, I have seen stuff sell for far more on TT than eBay.
And it occurs regularly.
And its usually the stuff Im bidding on.
The name is LEE!
<< <i>
<< <i>So let me ask... what are your opinions on Teletrade vs eBay when it comes specifically to cash in pocket after fees. Who's better? >>
That is a hard one to answer. I have not sold on eBay in quite a spell. My latest TT consignment did not turn a profit, but I'm not surprised. With TT you just send em off and collect a check. For schlock, I don't bother with reserves. With TT you don't have the hassle of returns, scammers, feedback extorters and stuff like that. >>
Which is definitely the "other" plus.
Photographing the coin.
Creating the listing.
Answering questions about the listing.
Sending Invoices.
Waiting for Payment.
Packaging and the assorted supplies required to do so.
Actual Mailing.
Waiting for feedback or returns from some buyer who thinks PCGS got it wrong and its "your fault" so they want you to pay his return shipping AND refund the original purchase price plus original shipping!
The name is LEE!
<< <i>I suspect that Teletrade has been buying some (most?) returned coins as of late. >>
I wonder if this could be true. It HAS been many moons since I have had a return on any coin I sold thru teletrade...
<< <i>
<< <i>I suspect that Teletrade has been buying some (most?) returned coins as of late. >>
I wonder if this could be true. It HAS been many moons since I have had a return on any coin I sold thru teletrade... >>
In my case, I did not choose the guaranteed sold option so if the first buyer returned it shouldn't I have been asked if I wanted it back or did they assume I didn't care?
Guaranteed sold only comes into play on buybacks or didnotopens.
<< <i>Returns would always get recycled, regardless of whether or not you selected the Guaranteed sold option.
Guaranteed sold only comes into play on buybacks or didnotopens. >>
If I consign a coin for auction and the buyer returns it, it is still my coin. If the auction house wants to buy it after it is returned they should first ask me if I want the coin returned to me or do I wish to sell it to them for the same price that the first buyer paid. In this case I may have chosen to take the coin back.
First, I have not looked at the consignment rules for TT in quite some time, but, I would expect there to be something within the rules to permit TT to do this (or any other auction house). I certainly hope there is, as I would expect no call ... just pay me for my sold lot. I don't need to micro-manage the auction company's business ... I just want my sold lots paid for and if they get creative to accomplish that then they get rewarded with more coin consignments. If one would have regrets about a sold coin remaining sold, the coin probably should not have been consigned in the first place and the problem likely lies there and not with the auction company. Just my 2 cents.
Wondercoin
<< <i>"If I consign a coin for auction and the buyer returns it, it is still my coin. If the auction house wants to buy it after it is returned they should first ask me if I want the coin returned to me or do I wish to sell it to them for the same price that the first buyer paid. In this case I may have chosen to take the coin back."
First, I have not looked at the consignment rules for TT in quite some time, but, I would expect there to be something within the rules to permit TT to do this (or any other auction house). I certainly hope there is, as I would expect no call ... just pay me for my sold lot. I don't need to micro-manage the auction company's business ... I just want my sold lots paid for and if they get creative to accomplish that then they get rewarded with more coin consignments. If one would have regrets about a sold coin remaining sold, the coin probably should not have been consigned in the first place and the problem likely lies there and not with the auction company. Just my 2 cents.
Wondercoin >>
Well the coin didn't bring a great price, but if the original buyer had kept it I would have been ok with that, a deal is a deal. In this instance I would have taken it back if it was offered and maybe re-consigned it at a later date.
They really don't have a hard and fast policy on returned coins as far as I can tell.
............................
Teletrade is not a dealer and does not own coins. The lots offered have been consigned to Teletrade by others.
Returns
If any coin is returned by a buyer, it is usually offered in the next available auction. However, Teletrade reserves the right to return it to the consignor within 36 days. Coins that are returned 3 times are sent back to the consignor.
I don't think it is that hard to send an email and say, Mr. Smith, one of your consigned coins has been returned. We will purchase it from you at the returning bidder's bid price or return it to you.
As an aside, at least on eBay if you don't think your coin will sell at a price you want, you can always pull the listing.
I've sold many via eBay, gotten some great and not so great prices. Net after fees & postage ranged from 85% to 92%. Hassle factor was not so bad... luckily for me all the buyers to date were legit. No extortionists in the bunch.
Let's see how TT shakes out. It certainly is alot less work!
<< <i>So... I just sent 5 graded ATBs to Teletrade as an experiment.
I've sold many via eBay, gotten some great and not so great prices. Net after fees & postage ranged from 85% to 92%. Hassle factor was not so bad... luckily for me all the buyers to date were legit. No extortionists in the bunch.
Let's see how TT shakes out. It certainly is alot less work! >>
Well you are certainly at the whim of the market at that point in time with either venue. My impression was that toned coins had been doing pretty well on TT in recent months; at least the ones I was tracking. I was a little disappointed in the results.
Wondercoin
<< <i>Bajjerfan: By the way, what coin did you sell there?
Wondercoin >>
It was just a toned common date Morgan. I'll wait until I hear back from TT. It isn't that big of a deal. I didn't use the guaranteed sold option. I don't care to waste $$ on buybacks cuz I have seen too many coins get relisted 3 times and not sell or sell lots lower the third listing. I was under the impression that anything that was returned to TT would then be returned to me. I'm more surprised that it didn't sell the second time.