EBAY private auction coin sale

INXS · August 2, 2004 10:48PM

New to the "PRIVATE AUCTION" scene, can someone explain this to me. I have contacted a person whom I dont know about buying a coin. He siuggested that he setup a private auction for the protection of both of us. How exactly does this work and how can I be guaranted that I am going to win this auction.

Thanks

inxs

MacCoin · August 2, 2004 10:58PM

you can't be guaranted to win. no sellers or bidder names are shown

hamiltonjh · August 2, 2004 11:02PM

What MacCoin said. there is NO guarantee you'll win. Unless you set up some kind of shady deal with the seller to make SURE you win.

Private auctions are what he said....bidders names are "protected" and not shown. I stay away from private auctions. There's usually something the seller is hiding.

rkfish · August 2, 2004 11:05PM

Since you contacted him about a coin he may be setting up an auction for you
to purchase the coin (BIN??)and have the "comfort" of it being an EBAY transaction that
still allows you to leave feedback and file a complaint if there is a problem.

Ask the seller what he is trying to accomplish.....should be able to tell you.

291fifth · August 2, 2004 11:38PM

Private auction = AVOID!!!!!!!!!

ziggy29 · August 2, 2004 11:56PM

Yep, I'll add my voice to the choir. While there can be legitimate reasons for private bidding, it's also a breeding ground for scammers, shillers and others who are doing things that aren't usually in a bidder's best interest.

If you examine the record of a known scammer, fake seller, et cetera, you'll notice they VERY often have made their auctions "private." One of the main reasons for doing that is so no "vigilantes" can notify the buyer that this seller is a known ripoff artist.

There are way too many items available from reputable sellers with nothing to hide to waste your time on stuff like this. True, you won't likely "rip" a $500 coin for $20 from them, but you're also not going to pay $20 and get nothing or buy a $20 fake, either. No free lunches here.

RELLA · August 3, 2004 12:20AM

"PRIVATE AUCTION" = He sets up a BIN and only allows approved bidders (you) to bid on the coin...perfectly legit. Not the same as the private auctions that others here are warning about. At least that's what I think is meant; might want to get clarification.

RELLA

bestbino · August 3, 2004 12:33AM

I don't follow the logic here.
If you want the coin and he is willing to sell it to you, Just agree to pay him via Paypal. Done Deal. Why add costs of EBay etc. Doesn't make any sense to me at all. Unless he just wants to auction it and possibly get more, then you are willing to pay. Sounds a little Fishy to me.

CarlWohlforth · August 3, 2004 12:47AM

I'm not sure why your seller wants a private auction.

I recently ran my first private auction. It was for the most expensive coin I've sold yet on eBay. I wanted the bidders to feel comfortable bidding on an expensive coin without exposing themselves to comment. Naturally they can publicize their bids but I wanted to offer them their choice of privacy. I also wanted to try running a private auction having never done so before.

LALASD4 · August 3, 2004 1:13AM

"PRIVATE AUCTION" = He sets up a BIN and only allows approved bidders (you) to bid on the coin...perfectly legit. Not the same as the private auctions that others here are warning about. At least that's what I think is meant; might want to get clarification.

I think this is more for your protection than it is for the seller since you have to pay him first anyways, there are no benefits for the seller except for you positive feedback on Ebay when he delivers the coin.

Theop · August 3, 2004 1:15AM

Whoa. What you are warning him about is not what I think the seller is offering.

I THINK what the seller is offering you is this: Pre-approve Bidders/Buyers

This is COMPLETELY different from a private auction where the bidders identities are shielded.

It is what rkfish was describing...
he sets up a normal auction (probably with Buy It Now at a price you predetermine) and allows only you to bid on the item.

The advantage is that you are doing a deal "inside of eBay" with the normal protections (if can can call them that) such as dispute resolution, feedback, etc.
The disadvantage is that he has to pay the normal listing and final value fees for the auction.

Not a bad idea if it someone you don't know, but a little overkill if you are going to be paying via Paypal as they give you as a buyer basically the same level of protection.

earlwbollinger · August 3, 2004 1:15AM

Usually I would assume a seller would send you a ebay sell item like they do for the second chance buys.
In this case the seller sends you a buy it now type of item on ebay. But only you get to see it. It times out after a few days.
Maybe this is what the seller meant.

INXS · August 3, 2004 2:17AM

<< <i>"PRIVATE AUCTION" = He sets up a BIN and only allows approved bidders (you) to bid on the coin...perfectly legit. Not the same as the private auctions that others here are warning about. At least that's what I think is meant; might want to get clarification. >>

<< <i>Since you contacted him about a coin he may be setting up an auction for you to purchase the coin (BIN??)and have the "comfort" of it being an EBAY transaction >>

I think Rella and Rkfish hit it right on the head. The seller is an older man must be 80 or so and he doesnt want to get in trouble with EBAY since I approached him via EBAY's "ask the seller a question". He wants to keep everything legit since he sells on EBAY(more than coins) as a supplement to retirement.

Thanks to all who answered, as the way I explained it was not to clear, but now I know what to look out for.

Inxs

EBAY private auction coin sale

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