Why is a 20K coin on Heritage starting at $1050 on ebay??

Lakesammman · December 30, 2002 3:22AM

There is a FE 1858 SL PCGS P65 on the Heritage site, bid already over $20K, now on ebay with a opening bid of $1050. Anyone know how that works?? Are they listed on ebay just for advertising??

SemperFI · December 30, 2002 3:25AM

Linkage

Baldy · December 30, 2002 3:27AM

As long there is a reserve then the idea is start the bidding low so as to get a bidding war going.

If no reserve then seller is taking an awful gamble?

Fred

tjkillian · December 30, 2002 3:27AM

I don't know for sure, but I think that they have competing auctions and whichever auction has the highest bid gets the coin.

Tom

Placid · December 30, 2002 3:28AM

The bids are seperate. Since there will also be floor bidders as well as live eBay bidders it's just wherever the highest bid happens to be wins.

sinin1 · December 30, 2002 5:35AM

That looks like maybe 3 sources of bidders on this one -

FUN auction
eBay live
Heritage site

I don't think I would be wanting to bid live on something like this unless I was at the floor auction

I have heard stories of internet bidders hitting the "next bid" increment and finding their bid was a few hundred higher than the last they saw.

keithdagen · December 30, 2002 5:47AM

Heritage lists ALL major auction items on E-Bay at a set opening. Bidders can bid from there, but may be outbid by the internet bidder on Heritage's site. Once the auction hits the floor, the opening bid on the floor is the higher of the E-Bay bid or the Internet/Fax/Mail bid, usually the website bid, as E-Bay is the last resort of those who can't be in person (also 5% higher juice).

Once the auction starts on the floor, you can bid from E-Bay, but it is hard because of the auction speed.

Why is a 20K coin on Heritage starting at $1050 on ebay??

Comments

Leave a Comment