Question about bidding on Teletrade

Comments

• Prethen Posts: 3,461 ✭✭✭

  March 30, 2005 3:03AM

  There are definitely reserves on most, in not all, Teletrade auctions. They don't every display the reserve price. However, if a coin doesn't make the reserve after the auction is done it simply won't show up in your tracking list.
  

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• pharmer Posts: 8,355 ✭

  March 30, 2005 3:07AM

  My take after years of participating as both a buyer and seller on Teletrade is that it was designed by late-20th century idiots who inadvertently created a system that evolved into something that defies attempts such as yours to beat or at least figure it out. The key is the lack of info of many types, which I truly believe was just the result of ignorant oversights in the design. But they look at the bottom line, it's working there, so why change/improve/update it?

  Quis custodiet ipsos custodes?
  
  Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
  
  

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• Russ Posts: 48,514 ✭✭✭

  March 30, 2005 3:08AM

  There is no formula that would work because no formula can account for the psychology or intent of the seller. Many sellers list and shill to drive up the price in an effort to establish a floor. Others have unrealistic expectations about the value of their coins. Still others are just testing in advance of a consignment to a major auction house. Too many unknowns that cannot be accounted for in the calculations.
  
  Russ, NCNE

  eBay consignment sales | | Collectibles from Resco CCC

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• mozin Posts: 8,755 ✭✭✭

  March 30, 2005 3:49AM

  
  
  << <i>There is no formula that would work because no formula can account for the psychology or intent of the seller. Many sellers list and shill to drive up the price in an effort to establish a floor. Others have unrealistic expectations about the value of their coins. Still others are just testing in advance of a consignment to a major auction house. Too many unknowns that cannot be accounted for in the calculations.
  
  Russ, NCNE >>
  
  
  Good points. So often a fresh coin will show up at more than one companies auction site because it did not sell at the first. As you said "just testing". It seems to me that auction houses often have interests in other auction houses.
  

  I collect Capped Bust series by variety in PCGS AU/MS grades.

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• sumdunce Posts: 1,247 ✭✭✭✭

  March 30, 2005 4:05AM

  I believe that there are no reserves for coins on Teletrade auctions.
  
  If there are no reserves then why on several coins that I had "won" did the pending turn into a no longer in my wantlist moment?
  

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• bestclser1 Posts: 5,566 ✭✭✭

  March 31, 2005 7:36AM

  There are reserves placed on many TT coins by consignors.FACT!

  Great coins are not cheap,and cheap coins are not great!

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• beartracks42 Posts: 2,834 ✭

  March 31, 2005 7:39AM

  What Russ said. Some sellers are in an alternate reality.

  Gary
  

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