<<When you see a auction-type listing offering two or more identical items, this is called a Multiple Item Auction (also know as a Dutch Auction). This means the seller is offering multiple, identical items for sale. Unlike a regular eBay auction, Multiple Item Auctions can have many winners.>>
I tend to think it is allowed. However, it is a very convoluted way to sell. He is banking on the common consumers mentality of getting something for nothing. Or the lottery's "somebody's going to win, may as well be you" come on. This kind of selling has to only profit the seller or he wouldn't do it in this manner. Since one lot is only $14.00 it is not a lot to use. Perhaps most will be getting the Sacajewea dollar?
Satisfaction lies in the effort, not in the attainment. Full effort is full victory. -Gandhi
It's the typical lottery auction. These used to be absolutely prohibited on eBay, but apparently eBay has relaxed their rules on these lately. Only a fool who is looking for something for nothing would bid on this.
<<Listings that promote giveaways, random drawings, or prizes as an enticement for buyers are not permitted on eBay as these promotions are highly regulated and may be unlawful in many states. eBay itself may run such promotions on the site, and may grant authorization to its partners or third party companies to run promotions that comply with applicable laws.
Policy: Listings that promote giveaways, random drawings, or prizes are not permitted and will be ended. The Insertion Fee will be automatically credited for that listing.>>
Common sense dictates that this s/b avoided IMO (seller can ship junk, within minimum parameters--I would hazard a guess that the 93 S probably won't be shipped to anyone except a "brother in law" deal).
The problem with these kinds of auctions is that "random" tends to favor the one or ones who spend the most money, naturally by laws of probability or unnaturally, by...at this point everyone please clear their throat... seller bias.
For example, the 1893-S, worth $2000, would be a bargain for some lucky buyer of one or a few lots at only $14. But what happens to this guys auction if this coin goes out in natural random fashion to one of the first 100 buyers? There are 895 lots available. Feedback, in the actual eventuality that the numismatic prize gets sent out too early, could be, likely would be, detrimental to the seller's auction.
"Received 1893-S dollar!!!! Will be back for more!!!
There is also the possibility that the "lucky" buyer was really not so lucky, is in fact disappointed with his lots, but decides to do a feedback screw job on the seller. Nobody, including the seller, can know who the really "lucky" buyers are, except through feedback, can they?
I observed an auction about a year ago where one lucky buyer of Lincoln cent lots (1000 available) would receive a 1909 SVDB cent, guaranteed. Indeed, the 1909 SVDB was received by a lucky buyer of many, many lots, who had spent quite a bit of money overall with this seller during the course of this auction.
Naturally. Time to clear throat again...
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
I would add that no matter how legitimate, well-intentioned and honest a seller might be who is doing a lottery type of auction there are too many biting snakes in the pit. Why bother them?
The finder of the raw, low-grade SVDB discussed earlier could have had a much nicer, TPG service authenticated coin for less money and also wouldn't have been stuck with a big pile of mostly junk.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
I won a few of this seller's auctions and was pretty happy with them. I got a nice range of coins and feel that I got my money's worth, I got a couple of nice Franklin proofs. The gold piece I won was pretty cheesy though, it was a Harry S. Truman 14 carat gold piece about the size of a pencil eraser.
From the seller, in reply to my inquiry as to whether such a listing was within Ebay rules, etc. In another email he said it was ok to pass his comments on to others. He sure sounds like an ok guy to me. :
Hello-I received your comments and I appreciate that someone took the time to email me and ask your question. I took some time and checked out Ebay's policy concerning this Giveaway, Rafles, and Prizes. I have approximately $25,000 in book value (mostly Coin World) of coins that I am selling. There were 1000 lots. I am selling each lot for $14.00. Some lots are worth more than $14.00, but each lot is guaranteed to have a silver dollar (one lot in three) or receive coins valued at least $14.00. This is hardly a Giveaway. I am not selling any tickets as in a Raffle. There are no Prizes, because each lot has to be purchased. This auction was a fun idea I had to sell some coins and give people an opportunity to get something nice. I don't see how this is different from someone selling wheat pennies by the pound and mixing in key dates. Or someone having a collection that they are selling and they sell it in box lots of 75 coins each (bought sight unseen). I have bought some of these grab bag lots and have not been satisfied. When I put together these lots, I purposely tried to keep out the junk. Most coins are 2x2ed, cataloged, and priced. I have 25 years of grading experience and I would not put a grade on a coin that I wouldn't buy myself. I even bought dollars through Ebay to complete my Morgan set. Bottom line, I want everyone who makes a purchase to get what they pay for. Besides, Ebay is a hawk. They have seen this auction and if there was a problem, they would have pulled it. Thank you once again for your comments. If you can be more specific of how I am violating an Ebay policy, please let me know. If there is something in my ad that you feel is misleading, I will be glad to change it. I am for making Ebay a safe and fun place for people.
This is a scam IMO. The seller has the choice of what he sends out (this isn't chance) and he may not even have the coins stated. All he has to do is throw in a common date silver dollar in every once in awhile and there's no proof who would get what. Ebay should shut this down, but if they allow it a lot of people will start this new scam.
If he's going off simple book value even the most common low grade silver dollar nears $14 book value, it's easy to get low grade coins listed in the $1 to $3 range but don't sell for much over face. Just take a handful of scrap silver coins and look up what they would sell for if you used "Book Value".
The major problem with this type of auction is you will never get one of the"key" coins. Why? Well, just check out his others auctions right now. An 1884-CC, 1890-CC, 1891-CC, and a 1886-S. Are we supposed to believe that these coins are different from the ones he has in his lottery auction? I find it particlarly interesting that he doesn't have any pictures up for the 1891 or 1890 CC's. Is that because you can see these coins in his lottery auction and they could be identified? Yep, I'll bet that is a problem for him!!
nwcs
Posts: 13,387 ✭✭✭
Comments
<<When you see a auction-type listing offering two or more identical items, this is called a Multiple Item Auction (also know as a Dutch Auction). This means the seller is offering multiple, identical items for sale. Unlike a regular eBay auction, Multiple Item Auctions can have many winners.>>
09/07/2006
Since one lot is only $14.00 it is not a lot to use. Perhaps most will be getting the Sacajewea dollar?
<<Listings that promote giveaways, random drawings, or prizes as an enticement for buyers are not permitted on eBay as these promotions are highly regulated and may be unlawful in many states. eBay itself may run such promotions on the site, and may grant authorization to its partners or third party companies to run promotions that comply with applicable laws.
Policy: Listings that promote giveaways, random drawings, or prizes are not permitted and will be ended. The Insertion Fee will be automatically credited for that listing.>>
09/07/2006
<< <i>The remaining 640 lots (1000 - 360 Silver Dollars) are made up of **at least $14.00 worth of catalog value coins.** >>
I wonder how many people will read far enough?
<< <i>I tend to think it is allowed. >>
It isn't. It's a lottery style auction.
Russ, NCNE
If it sounds too good to be true, it probably is!
seller bias.
For example, the 1893-S, worth $2000, would be a bargain for some lucky buyer of one or a few lots at only $14. But what happens to this guys auction if this coin goes out in natural random fashion to one of the first 100 buyers?
There are 895 lots available. Feedback, in the actual eventuality that the numismatic prize gets sent out too early, could be, likely would be, detrimental to the seller's auction.
"Received 1893-S dollar!!!! Will be back for more!!!
There is also the possibility that the "lucky" buyer was really not so lucky, is in fact disappointed with his lots, but decides to do a feedback screw job on the seller. Nobody, including the seller, can know who the really "lucky" buyers are, except through feedback, can they?
I observed an auction about a year ago where one lucky buyer of Lincoln cent lots (1000 available) would receive a 1909 SVDB cent, guaranteed. Indeed, the 1909 SVDB was received by a lucky buyer of many, many lots, who had spent quite a bit of money overall with this seller during the course of this auction.
Naturally. Time to clear throat again...
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
The finder of the raw, low-grade SVDB discussed earlier could have had a much nicer, TPG service authenticated coin for less money and also wouldn't have been stuck with a big pile of mostly junk.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
Link
I won a few of this seller's auctions and was pretty happy with them. I got a nice range of coins and feel that I got my money's worth, I got a couple of nice Franklin proofs. The gold piece I won was pretty cheesy though, it was a Harry S. Truman 14 carat gold piece about the size of a pencil eraser.
Complete Dime Set
Hello-I received your comments and I appreciate that someone took the time to email me and ask your question. I took some time and checked out Ebay's policy concerning this Giveaway, Rafles, and Prizes. I have approximately $25,000 in book value (mostly Coin World) of coins that I am selling. There were 1000 lots. I am selling each lot for $14.00. Some lots are worth more than $14.00, but each lot is guaranteed to have a silver dollar (one lot in three) or receive coins valued at least $14.00. This is hardly a Giveaway. I am not selling any tickets as in a Raffle. There are no Prizes, because each lot has to be purchased. This auction was a fun idea I had to sell some coins and give people an opportunity to get something nice. I don't see how this is different from someone selling wheat pennies by the pound and mixing in key dates. Or someone having a collection that they are selling and they sell it in box lots of 75 coins each (bought sight unseen). I have bought some of these grab bag lots and have not been satisfied. When I put together these lots, I purposely tried to keep out the junk. Most coins are 2x2ed, cataloged, and priced. I have 25 years of grading experience and I would not put a grade on a coin that I wouldn't buy myself. I even bought dollars through Ebay to complete my Morgan set. Bottom line, I want everyone who makes a purchase to get what they pay for. Besides, Ebay is a hawk. They have seen this auction and if there was a problem, they would have pulled it. Thank you once again for your comments. If you can be more specific of how I am violating an Ebay policy, please let me know. If there is something in my ad that you feel is misleading, I will be glad to change it. I am for making Ebay a safe and fun place for people.
Sincerely,
Troyhill2
but allow legit registered not for profit organizations (charities) to raise money in this manner. Selling mixed lots is fine--
but when a $2000 coin is stuck in the mix, it's gaming pure and simple. States make the laws, not Ebay.
If he's going off simple book value even the most common low grade silver dollar nears $14 book value, it's easy to get low grade coins listed in the $1 to $3 range but don't sell for much over face. Just take a handful of scrap silver coins and look up what they would sell for if you used "Book Value".
The eagle's prey is noble. The eagle does not catch flies.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein