Your POV on sellers who end regular auctions by canceling bids

mercurydimeguy

Ok, I'm a bit perturbed. A coin is listed, starting price about market rate (maybe a little less), I like the coin, I bid, seller cancels bid and ends the auction.

Has this happened to you? How do you feel? Is this normal/ok? It wasn't a BIN item, it was a proper auction.

What's you point of view on this? I'm sure there are mixed views...

LindeDad

If it was eBay then the seller pays the Final Value Fee to sell nothing when he cancels with bids placed.
So he must think he was taking a bath at the sale level.
That's why I started listing auctions at least high enough to pay the fees and shipping.

BryceM

Sometimes sellers aren't really up on their inventory. They might have already sold the coin (sometimes ages ago) and they only remember about it when they get the bid notification.

Frustrating, but there isn't much you can do about it.

MGLICKER

I assume that you are talking about Ebay.

Conventional wisdom is that once an auction receives a bid, unless it is an extenuating circumstance, the auction should remain.

Ebay sellers have been so beat up though with all of the outrageous requirements that change daily, who can blame them for taking an opportunity when it exists.

mercurydimeguy

<< <i>Sometimes sellers aren't really up on their inventory. They might have already sold the coin (sometimes ages ago) and they only remember about it when they get the bid notification.

Frustrating, but there isn't much you can do about it.[/q

Newly listed coin (hours), never been on sale before (I search the same search string 2-3 time per day for more than a year).

So they pay FVF? I didn't realize that. Ok, as long as it isn't without penalty...

BaronVonBaugh

I have had that happen to me also, but not recently. I find it very irritating when it happens.

TwoSides2aCoin

Scaredy cats.

Roscoe

I hate it when it happens but I hate it more when I get the next message from the seller after I win it that it got sold previously out of the store and not taken out of the inventory.

JerseyJoe

OK I'll be the cynical one. I assume the seller got an offer he couldn't refuse.

I hate this and have refused offers on live auctions.

DollarAfterDollar

I've canceled 2 auctions I can remember. Once I sold the coin through other means and the other time I shipped it to CAC with others. Nobody likes throwing away money but things happen.

ms70

<< <i>Ebay sellers have been so beat up though with all of the outrageous requirements that change daily, who can blame them for taking an opportunity when it exists. >>



That's how I feel about it too. I've had it happen to me and I feel the dealer should have the right to end it early to sell through other means. My suspicion as of late is that
eBay made their rules so ridiculous that buyers and sellers are working back door deals more and more. eBay might turn into a place where sellers advertise and hook up to make
a deal elsewhere. I'm not saying that's right but it's eBay's fault.

SullivanNumismatics

I don't do it myself (ever) and I don't think any honest dealer should either since the idea behind an auction is that the seller will auction off something to the highest bidder...not that he will auction it off, accept bid(s), and then pull the auction if someone makes him an offer he can't refuse before the auction is over. Also, in the spirit of "do unto others", I also know it's not what I'd want done to me.

SullivanNumismatics

<< <i>Sometimes sellers aren't really up on their inventory. They might have already sold the coin (sometimes ages ago) and they only remember about it when they get the bid notification.

Frustrating, but there isn't much you can do about it. >>



I agree, there are legitimate reasons such as this for pulling an auction, but in this case it's a "mistake", and can't be helped.

Cougar1978

The seller opens a $50 coin at $9.95 and with one day left it has one bid of $9.95. The seller gets disgusted and ends the auction possibly bc some other coin sold for good money and why give away this one.

I have seen a number of sellers start a coin that bids say $125 at $124.99 a penny below bid. No more the letting her rip with a starting bid of 99c then getting hosed just realizing way below bid. Its deceptive to see what others are getting bc you don't really know if they have shills.

I have done this a number of times say a group of 5 different items starting a penny or possibly 5 bucks below bid. Usually at least one will sell. I don't end these auctions before closing but people won't buy at bid? Tire Kickers?

DoubleEagle59

<< <i>OK I'll be the cynical one. I assume the seller got an offer he couldn't refuse.

I hate this and have refused offers on live auctions. >>

DollarAfterDollar

I understand why Sellers might end auctions early and don't blame them one bit. E-Bay plays this game where if you have lots of sales, your stuff moves to the front of the line. If you have a store, your stuff moves to the front of the line, If you have no negative feedback, your stuff goes to the front of the line. It's all determined by algorithms the average seller cannot satisfy. Compared to the bigger sellers, the little guy has disadvantages.

If the opportunity presents itself to sell an item by some other means, it's just good business. E-Bay is NOTHING LIKE a normal auction. It's the only place in America where bottomfeeders can cherrypick an honest offering for far less than actual value THEN send it back for a refund.

(insert facepalm gif).

mercurydimeguy

PCGS Price Guide on the coin is $345, starting bid was $275. Not a rip by any means, just a nice looking coin that would match my set (and about fair market/closing auction prices). Did a search, sort by "newly listed." Coin was listed about 4 hours before I found it. I bid $280. About 15 minutes later, my bid was cancelled.

Asked the seller, he got back to me the following day with, "Sorry about that. The price of the coin was incorrect. Thank you."

The coin was never re-listed...

I think someone offered him more money and he just took it, canceling my bid, else why would he have not re-listed it?

EDITED TO ADD: Based on the feedback, sellers might have had one/two bad experiences with auctions, so why not just list BIN? Sorry, I don't buy it... I sell on eBay all the time (my duplicates, coins I rotate out of my collection), and have I done auctions and lost money? Yes, but I knew the risk I was taking...Have I done auctions and coins sold for far more than I expected? Absolutely...

It is not a casino...it's real life, you have to take the risk with the reward, it cannot just be all reward...if you don't want to do auctions, do a BIN with Best Offer feature, problem solved.

MGLICKER

<< <i>I understand why Sellers might end auctions early and don't blame them one bit. E-Bay plays this game where if you have lots of sales, your stuff moves to the front of the line. If you have a store, your stuff moves to the front of the line, If you have no negative feedback, your stuff goes to the front of the line. It's all determined by algorithms the average seller cannot satisfy. Compared to the bigger sellers, the little guy has disadvantages.

If the opportunity presents itself to sell an item by some other means, it's just good business. E-Bay is NOTHING LIKE a normal auction. It's the only place in America where bottomfeeders can cherrypick an honest offering for far less than actual value THEN send it back for a refund.

(insert facepalm gif). >>



Good points.

GotTheBug

if you don't want to do auctions, do a BIN with Best Offer feature, problem solved.

If I was a seller I'd do this and not lose sleep at night. I was at a local coin shop once and overheard the owner's sales assistant report that one of their eBay 99c auctions closed at 99c. The owner was freaking out about the money he lost.

lcoopie

If the rules allow it just move on and don't give it a second thought

BaronVonBaugh

<< <i>The seller opens a $50 coin at $9.95 and with one day left it has one bid of $9.95. The seller gets disgusted and ends the auction possibly bc some other coin sold for good money and why give away this one.

I have seen a number of sellers start a coin that bids say $125 at $124.99 a penny below bid. No more the letting her rip with a starting bid of 99c then getting hosed just realizing way below bid. Its deceptive to see what others are getting bc you don't really know if they have shills.

I have done this a number of times say a group of 5 different items starting a penny or possibly 5 bucks below bid. Usually at least one will sell. I don't end these auctions before closing but people won't buy at bid? Tire Kickers? >>



It could be that bid is too high on some things.

ms70

Maybe if eBay notices a sharp increase of behind the scene deals they'll get the point and fix their rules & fees.