"Teletrade pick"

ad4400 · February 26, 2013 7:55AM

Appears to be a new feature or designation. Does anyone know what the criteria or idea is? An odd hodge-pudge of pieces are designated as such in this week's auction: common pieces, toners, net/detail grades. I don't see a common thread

DIMEMAN · February 26, 2013 8:42AM

My guess is that it is stuff that has been around for a while and they want to move it.

Iconbuster · February 26, 2013 8:43AM

I believe it's TT's new way of identifying lots that are more likely to provide decent value to the buyer based on the consignor's prior sell-through history with them. A high sell-through rate generally corresponds to more reasonable opening bids as opposed to many of the sky-high reserves/opening bids that a lot of people on this forum have complained about. I checked several of these Teletrade Pick lots in this Sunday's upcoming auction and many of them already have a bid which you don't usually see this early in the week.

A TT representative I spoke with on the phone a few weeks ago told me that more than a few consignors have very low sell-through rates so this change appears to be their way of throwing a bone to their better-performing (i.e., more profitable) consignors.

BAJJERFAN · February 26, 2013 8:47AM

Does Heritage still have the JH Exceptional? Mite be analogous to that.

wondercoin · February 26, 2013 9:23AM

The Teletrade "picks" really make little sense to me at this point. Take a look at Lot 2817 that is currently for sale ... opening at $1,100 and the last Teletrade sale was at $400? Am I missing something? Many more examples of that in the list as well.

Just keeping it honest.

Wondercoin

Teletrade · February 26, 2013 10:04AM

Hi Forum Members,

The "Teletrade Picks" token are coins we feel to be of value in that the consignor did not place any opening bids on the coins thus starting at $6 and coins that we feel should be highlighted as the opening values are below market trends.

Wondercoin- Thanks for pointing out the error, I have removed 43 lots that do not fit the description listed above. It was an error.

Please do take a look, I see deals to be had. I hope that this is helpful link.
www.teletrade.com/picks

Example Lots:
1137-1910 1C MS66RD PCGS CAC-Current Bid $475
1377-1893 5C MS65 PCGS-Current Bid $600
1896-1917 25C MS64FH PCGS Type 1â€”Current Bid $260
2108-1826 50C XF40 PCGS Overton 109-Current Bid $110
2268-1961 50C MS 65 NGC-Current Bid $24
2501-1881-S $1 MS 66 NGC-Current Bid $210
2647-1890-CC S$1 MS62 PCGS-Current Bid $425
2730-1901-O S$1 MS 65 NGCâ€”Current Bid $100
2977-1927 $2.5 MS 62 NGCâ€”Current Bid $140
2984-1888-S $5 AU53 PCGS-Current Bid $220
3000-1911 $10 AU55 PCGS-Current Bid $500
3013-1903 $20 AU 58 NGC-Current Bid $650

Please note errors do occur.
Thanks
Corey

Iconbuster · February 26, 2013 10:08AM

The "Pick" designation seems to be applied across an entire consignment as opposed to individual select lots. I say this because I have a number of coins consigned to Sunday's auction and every one of them got "Pick"ed. With this being the case, there doesn't seem to be anything to prevent grossly overpriced coins from getting this designation. bur perhaps the consignor may lose his/her TP consignor status if enough of these overpriced coins don't sell.

Edited to add: Based on Teletrade's response above it sounds like there *is* an effort being made to weed out the overpriced coins - nice to see that.

wondercoin · February 26, 2013 10:15AM

"I say this because I have a number of coins consigned to Sunday's auction and every one of them got "Pick"ed."

I assume you allowed Teletrade to select your reserves for you or had no reserves on your consignment? If that was the case, it would make sense that your entire consignment got "picked".

Wondercoin

Iconbuster · February 26, 2013 10:22AM

I established the opening bid prices via their new consignment form where you specify the "market value" for the coin and then have them set the opening bid at 60% or 80% of that value. I tend to set an opening bid at or slightly lower than the most recent TT auction for the same date so maybe that's how these qualified as Picks.

MFH · February 28, 2013 2:17PM

Last week, Corey of Teletrade opened a thread on the US Forums and PCGS
relocated (*) it to the BST. Basically, it was for coins with out reserves, and were
"Picks" as well. I responded to that thread on the US Coin Forum and again on the
BST.

Corey, you need to open up your PM function. A reply to my post on the BST
seems in order.

Tiny · February 28, 2013 7:40PM

There you go, " opening bid prices via their new consignment form ". I thought that was the formula for TT's opening bids
for the past many many years not a new one. It had seemingly changed in the past year what with the opening bid prices
I have been seeing with moon money for starters. I will say that in the past few weeks the rather high and I mean really
high opening bids are not as promient but still there.

I see no value and no specific pattern to the placing of " TT pick " beside an auction and it merely draws my attention away
from the listing but then my attention is easily distracted.

One more thing. Corey, you need to do as Mike requested, open your PM option along with one or two of the other features
or host has offered in your profile it is very helpful to other members.

OK, Just one more thing. Corey, you need to find someone at Teletrade that can post here in the U.S. COIN FORUM and adhere
to the rules that we all must follow because it seems that even wondercoin ( " The Teletrade "picks" really make little sense to
me at this point. " ) maybe no longer be a defender of the cause. You answered the post about TT picks and did a Fine Job but you
should have stopped with " It was an error. " You continued on with a list of several coins and then a link to your auctions witch
I felt was not needed. Use the BST Board Corey, the BST.

Teletrade · March 1, 2013 2:48AM

HI MFH,

I appreciate the chat this morning! The PM feature is now activated! As always please feel free to contact me with any questions.

Email: cmaita@teletrade.com
Phone: 1.800.949.2646 ext 259

Thanks
Corey

"Teletrade pick"

Comments

Leave a Comment

&quot;Teletrade pick&quot;

Comments

Leave a Comment

"Teletrade pick"