<< <i>"Bidder Only: Those individuals who have no desire to list auctions can subscribe to our bidders only tier. This subscription is $9.99 per month."
lol >>
Say what? Pay for the privilege of possibly bidding? Really?
Taking a look at their site and my head hurts from trying to read their Terms and Conditions under the New User Registration.....guess they never heard of paragraphs or making things readable......
T&C 3. "In the sole discretion of J.J.Teaparty, we reserve the right to delay the end time, suspend, postpone or cancel auctions or direct purchase items, without any liability to consignors or bidders, including any errors in the listing, whether made by J.J.Teaparty or not. "
Also interesting is that in their T&C 5, they state that you must be 18 or older. Yet, at the first part of the new user registration, there is a field for "your Parent/Guardian email". Really? If one is 18, what is the need for that? If that is there, why state one has to be 18? (yes, I know that minors can't be held responsible, but in that case, why have the field there at all???)
Currently we will be offering the following subscriptions: Platinum, Gold, Silver and Bidder only. We may expand the subscriptions to include a marketplace and a classified section depending on the wants and needs of the business subscribers. Initially, there will be a 90 day trial basis price structure and a 30 day reminder will be e-mailed to all subscribers notifying them when that period is over. A discussion of the subscription tiers will follow. Platinum: This is the highest tier of service. The fee for this service is a onetime $100 registration fee (covers background check and reference verification) plus $99/ month trial basis participation fee. This fee will rise to $129/ month after the first 90 days. At this tier level, there will be no other fees incurred by the subscriber. This means no listing fees, no final value fees, no Gallery view fees, no Premiere auction fees, and no highlighting or bold fees. NO OTHER FEES!
Gold: This is the mid tier of service. The fee for this service is a onetime $100 registration fee (covers background check and reference verification) plus $59/ month trial basis participation fee. This fee will rise to $99/ month after the first 90 days. At this tier level, there will be a 2.5% listing fee and a 2.5% Final Value Fee imposed on all auctions. There will also be an optional $1.00 per auction Gallery view fee, optional $1.00 per auction Premiere listing fee and an optional $1.00 special icon fee. There will be no fee for highlighting or bold.
Silver: This is the bottom tier of service. The fee for this service is a onetime $100 registration fee (covers background check and reference verification) plus $29/ month trial basis participation fee. This fee will rise to $49/ month after the first 90 days. At this tier level, there will be a 5% listing fee and a 5% Final Value Fee imposed on all auctions. There will also be an optional $1.00 per auction Gallery view fee, optional $1.00 per auction Premiere listing fee and an optional $1.00 special icon fee. There will be no fee for highlighting or bold.
Bidder Only: Those individuals who have no desire to list auctions can subscribe to our bidders only tier. This subscription is $9.99 per month. All other subscription services are bidding enabled with no additional fee required.
Can you imagine paying almost $120/yr for the "right to bid"? Especially if you end up not winning a lot the entire time, or not finding any you want that bad?
Who's going to list something for sale when the buying public at large is never going to bite on the $10/month fee for the ability to bid an item up beyond wholesale?
This auction structure only means one thing....... very high opening bids or high reserves, because of the limited bidders that will pay $120 per year.
All of this is to pay for the start up expense... I understand that, but the market already has a standard for auctions and its free bidding.
Si vis pacem, para bellum
In God We Trust.... all others pay in Gold and Silver!
I am less than impressed. Next up is a coin store using one of those 876 numbers that charge you for calling. Call and check on a coin and get a bill for 100 bucks for recieving a description.
Mark NGC registry V-Nickel proof #6!!!! working on proof shield nickels # 8 with a bullet!!!!
<< <i>Who's going to list something for sale when the buying public at large is never going to bite on the $10/month fee for the ability to bid an item up beyond wholesale? >>
I didn't see any mention here, and I'm not going to visit their website to wade through all the T's and C's, so can anyone tell me: Are the bidder only subscribers paying final value buyer fees?
<< <i>"Bidder Only: Those individuals who have no desire to list auctions can subscribe to our bidders only tier. This subscription is $9.99 per month." >>
Due to a lack of material I find acceptable, I have bought all of one coin in each of the last four years, and now I'm being asked to pay for the 'privilege' of bidding on someone's auction coins. Sí hombre, ¡una polla como una olla!
Or, for those of you who aren't Spanish speakers, to je govno.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
I wonder if Liz is aware of this thread. I believe she is a member here although not very active. I'd sure like to hear her explain the rationale behind this business model. J. J. Teaparty is a great company and I used to buy raw coins from them by mail order with complete confidence long before there was any third party grading services.
Worry is the interest you pay on a debt you may not owe.
<< <i>I wonder if Liz is aware of this thread. I believe she is a member here although not very active. I'd sure like to hear her explain the rationale behind this business model. J. J. Teaparty is a great company and I used to buy raw coins from them by mail order with complete confidence long before there was any third party grading services. >>
I am not sure that I understand the business model, but I am wondering if it is based on a co-op structure, as it seems to encourage buying AND selling. Perhaps there is a page which clearly describes what they are trying to do. I would wait until there is a formal announcement before passing final judgment.
One other point is that if it is an opportunity, for example, to purchase coins for $100's less than other venues, the $10 monthly fee might be cheap for many. In the way that my mother-in-law would spend $5 in gas and an extra thirty minutes to save $2 to get an item on sale, many coin collectors will have trouble seeing beyond the $10 cost of entry, on principle, and miss out on opportunities that would save them loads more.
On the surface, however, I agree that it looks less than promising.
<< <i>I wonder if Liz is aware of this thread. I believe she is a member here although not very active. I'd sure like to hear her explain the rationale behind this business model. J. J. Teaparty is a great company and I used to buy raw coins from them by mail order with complete confidence long before there was any third party grading services. >>
I am not sure that I understand the business model, but I am wondering if it is based on a co-op structure, as it seems to encourage buying AND selling. Perhaps there is a page which clearly describes what they are trying to do. I would wait until there is a formal announcement before passing final judgment.
One other point is that if it is an opportunity, for example, to purchase coins for $100's less than other venues, the $10 monthly fee might be cheap for many. In the way that my mother-in-law would spend $5 in gas and an extra thirty minutes to save $2 to get an item on sale, many coin collectors will have trouble seeing beyond the $10 cost of entry, on principle, and miss out on opportunities that would save them loads more.
On the surface, however, I agree that it looks less than promising. >>
Excellent points. Perhaps the cost of entry is to limit participation to dealers and serious collectors and to keep out the riff-raff and tire kickers.
Worry is the interest you pay on a debt you may not owe.
<< <i>I wonder if Liz is aware of this thread. I believe she is a member here although not very active. I'd sure like to hear her explain the rationale behind this business model. J. J. Teaparty is a great company and I used to buy raw coins from them by mail order with complete confidence long before there was any third party grading services. >>
I am not sure that I understand the business model, but I am wondering if it is based on a co-op structure, as it seems to encourage buying AND selling. Perhaps there is a page which clearly describes what they are trying to do. I would wait until there is a formal announcement before passing final judgment.
One other point is that if it is an opportunity, for example, to purchase coins for $100's less than other venues, the $10 monthly fee might be cheap for many. In the way that my mother-in-law would spend $5 in gas and an extra thirty minutes to save $2 to get an item on sale, many coin collectors will have trouble seeing beyond the $10 cost of entry, on principle, and miss out on opportunities that would save them loads more.
On the surface, however, I agree that it looks less than promising. >>
Excellent points. Perhaps the cost of entry is to limit participation to dealers and serious collectors and to keep out the riff-raff and tire kickers. >>
Serious collectors will only be really interested if there are scarce/rare coins in the online auctions. If the coins to be auctioned are, on average, reflective of what JJT has carried in inventory during the last few years, then I find it hard to believe that anyone would pay just to be able to bid. Furthermore, the cost to the consignor might be lower using JJT, but the degree of marketplace exposure will likely be lower too.
Member: EAC, NBS, C4, CWTS, ANA
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
I have bought lots of coins from JJteaparty, but will I PAY just for the opportunity to bid?----
I had the same initial view as RYK poined out. You may get some better deals if this weeds out peon bidders. Or you may not. Time will tell, it always does.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
123cents
Posts: 7,178 ✭✭✭
Comments
lol
<< <i>"Bidder Only: Those individuals who have no desire to list auctions can subscribe to our bidders only tier. This subscription is $9.99 per month."
lol >>
Say what? Pay for the privilege of possibly bidding? Really?
Taking a look at their site and my head hurts from trying to read their Terms and Conditions under the New User Registration.....guess they never heard of paragraphs or making things readable......
T&C 3. "In the sole discretion of J.J.Teaparty, we reserve the right to delay the end time, suspend, postpone or cancel auctions or direct purchase items, without any liability to consignors or bidders, including any errors in the listing, whether made by J.J.Teaparty or not. "
Also interesting is that in their T&C 5, they state that you must be 18 or older. Yet, at the first part of the new user registration, there is a field for "your Parent/Guardian email". Really? If one is 18, what is the need for that? If that is there, why state one has to be 18? (yes, I know that minors can't be held responsible, but in that case, why have the field there at all???)
Currently we will be offering the following subscriptions: Platinum, Gold, Silver and Bidder only. We may expand the subscriptions to include a marketplace and a classified section depending on the wants and needs of the business subscribers. Initially, there will be a 90 day trial basis price structure and a 30 day reminder will be e-mailed to all subscribers notifying them when that period is over. A discussion of the subscription tiers will follow.
Platinum: This is the highest tier of service. The fee for this service is a onetime $100 registration fee (covers background check and reference verification) plus $99/ month trial basis participation fee. This fee will rise to $129/ month after the first 90 days. At this tier level, there will be no other fees incurred by the subscriber. This means no listing fees, no final value fees, no Gallery view fees, no Premiere auction fees, and no highlighting or bold fees. NO OTHER FEES!
Gold: This is the mid tier of service. The fee for this service is a onetime $100 registration fee (covers background check and reference verification) plus $59/ month trial basis participation fee. This fee will rise to $99/ month after the first 90 days. At this tier level, there will be a 2.5% listing fee and a 2.5% Final Value Fee imposed on all auctions. There will also be an optional $1.00 per auction Gallery view fee, optional $1.00 per auction Premiere listing fee and an optional $1.00 special icon fee. There will be no fee for highlighting or bold.
Silver: This is the bottom tier of service. The fee for this service is a onetime $100 registration fee (covers background check and reference verification) plus $29/ month trial basis participation fee. This fee will rise to $49/ month after the first 90 days. At this tier level, there will be a 5% listing fee and a 5% Final Value Fee imposed on all auctions. There will also be an optional $1.00 per auction Gallery view fee, optional $1.00 per auction Premiere listing fee and an optional $1.00 special icon fee. There will be no fee for highlighting or bold.
Bidder Only: Those individuals who have no desire to list auctions can subscribe to our bidders only tier. This subscription is $9.99 per month. All other subscription services are bidding enabled with no additional fee required.
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
In God We Trust.... all others pay in Gold and Silver!
Bleh!
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
Give Me Liberty or Give Me Debt
I wouldn't be a player in such a system. There are too many other options.
<< <i>I wish them luck. The more on-line auction players, the better. >>
I think that is generally true but in this case it could hurt us buyers if others start charging to bid on their auctions! BAD IDEA!!
Heritage, SB, DLRC, Goldberg's, Legend Morphy, ebay, and now JJ teaparty., ....who am I missing ?
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I cannot think of any reason I would ever consign to them or any of the smaller auction houses.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Great Collections
<< <i>who am I missing
Great Collections >>
ah thanks
I give away money. I collect money.
I don’t love money . I do love the Lord God.
merse
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
<< <i>I don't think paying $120 a year just to bid is going to fly.
<< <i>Can you imagine paying almost $120/yr for the "right to bid"? >>
I wonder what their reasoning is for this? Perhaps their sellers only want certain types of bidders?
<< <i>
<< <i>Can you imagine paying almost $120/yr for the "right to bid"? >>
I wonder what their reasoning is for this? Perhaps their sellers only want certain types of bidders? >>
Rich morons?
All of this is to pay for the start up expense... I understand that, but the market already has a standard for auctions and its free bidding.
In God We Trust.... all others pay in Gold and Silver!
EAC 6024
Worry is the interest you pay on a debt you may not owe.
That's a shame, I was hoping for something to knock ebay off their pedestal.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>Who's going to list something for sale when the buying public at large is never going to bite on the $10/month fee for the ability to bid an item up beyond wholesale? >>
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
<< <i>"Bidder Only: Those individuals who have no desire to list auctions can subscribe to our bidders only tier. This subscription is $9.99 per month." >>
Due to a lack of material I find acceptable, I have bought all of one coin in each of the last four years, and now I'm being asked to pay for the 'privilege' of bidding on someone's auction coins. Sí hombre, ¡una polla como una olla!
Or, for those of you who aren't Spanish speakers, to je govno.
"Seu cabra da peste,
"Sou Mangueira......."
World Collection
British Collection
German States Collection
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>I love J.J. Teaparty...... but I'm not sure about this auction structure. >>
Same here, I went thru all the pages, but didn't progress thru
this pay for bidding privlege then bowed out.
~~~~~~~~~~~~
Coin collecting is not a hobby, it's an obsession !
New Barber Purchases
And I only got through the first 2 sentences of this mess:
J.J.Teaparty Online Auctions Terms and Conditions
J.J. Teaparty has (had) a good reputation. Whoever is advising them about how to set up their auctions needs to be fired and replaced - now.
Fast.
Not a chance.
No thanks.
Worry is the interest you pay on a debt you may not owe.
<< <i>This venture will probably be every bit as successful as Legend's first foray into the coin auction business. >>
And R&I coins.
These upstart auction companies have a very quick lifespan, with a few exceptions.
<< <i>I think this business idea as is will stumble out of the gate...but I do wish them the best, they're a good crew in our hobby. >>
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
<< <i>I wonder if Liz is aware of this thread. I believe she is a member here although not very active. I'd sure like to hear her explain the rationale behind this business model. J. J. Teaparty is a great company and I used to buy raw coins from them by mail order with complete confidence long before there was any third party grading services. >>
I am not sure that I understand the business model, but I am wondering if it is based on a co-op structure, as it seems to encourage buying AND selling. Perhaps there is a page which clearly describes what they are trying to do. I would wait until there is a formal announcement before passing final judgment.
One other point is that if it is an opportunity, for example, to purchase coins for $100's less than other venues, the $10 monthly fee might be cheap for many. In the way that my mother-in-law would spend $5 in gas and an extra thirty minutes to save $2 to get an item on sale, many coin collectors will have trouble seeing beyond the $10 cost of entry, on principle, and miss out on opportunities that would save them loads more.
On the surface, however, I agree that it looks less than promising.
<< <i>
<< <i>I wonder if Liz is aware of this thread. I believe she is a member here although not very active. I'd sure like to hear her explain the rationale behind this business model. J. J. Teaparty is a great company and I used to buy raw coins from them by mail order with complete confidence long before there was any third party grading services. >>
I am not sure that I understand the business model, but I am wondering if it is based on a co-op structure, as it seems to encourage buying AND selling. Perhaps there is a page which clearly describes what they are trying to do. I would wait until there is a formal announcement before passing final judgment.
One other point is that if it is an opportunity, for example, to purchase coins for $100's less than other venues, the $10 monthly fee might be cheap for many. In the way that my mother-in-law would spend $5 in gas and an extra thirty minutes to save $2 to get an item on sale, many coin collectors will have trouble seeing beyond the $10 cost of entry, on principle, and miss out on opportunities that would save them loads more.
On the surface, however, I agree that it looks less than promising. >>
Excellent points. Perhaps the cost of entry is to limit participation to dealers and serious collectors and to keep out the riff-raff and tire kickers.
Worry is the interest you pay on a debt you may not owe.
As those % keep going up, his 'could' be a welcome shift....
<< <i>
<< <i>
<< <i>I wonder if Liz is aware of this thread. I believe she is a member here although not very active. I'd sure like to hear her explain the rationale behind this business model. J. J. Teaparty is a great company and I used to buy raw coins from them by mail order with complete confidence long before there was any third party grading services. >>
I am not sure that I understand the business model, but I am wondering if it is based on a co-op structure, as it seems to encourage buying AND selling. Perhaps there is a page which clearly describes what they are trying to do. I would wait until there is a formal announcement before passing final judgment.
One other point is that if it is an opportunity, for example, to purchase coins for $100's less than other venues, the $10 monthly fee might be cheap for many. In the way that my mother-in-law would spend $5 in gas and an extra thirty minutes to save $2 to get an item on sale, many coin collectors will have trouble seeing beyond the $10 cost of entry, on principle, and miss out on opportunities that would save them loads more.
On the surface, however, I agree that it looks less than promising. >>
Excellent points. Perhaps the cost of entry is to limit participation to dealers and serious collectors and to keep out the riff-raff and tire kickers. >>
Serious collectors will only be really interested if there are scarce/rare coins in the online auctions. If the coins to be auctioned are, on average, reflective of what JJT has carried in inventory during the last few years, then I find it hard to believe that anyone would pay just to be able to bid. Furthermore, the cost to the consignor might be lower using JJT, but the degree of marketplace exposure will likely be lower too.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
I have bought lots of coins from JJteaparty, but will I PAY just for the opportunity to bid?----
I had the same initial view as RYK poined out. You may get some better deals if this weeds out peon bidders. Or you may not. Time will tell, it always does.
Too many positive BST transactions with too many members to list.