How many dealers/sellers sell their items in multiple venues @ the same time?

Bochiman · August 27, 2005 4:35PM

And, if you do, what checks/balances do you have in place for making sure your customers don't think they can buy something that is no longer available?

Wondering this because of some ebay auctions and because of the latest Superior thread.

My own thought is that if I have something for sale in an auction, I don't have it for sale anywhere else, and if I did do that, it would be removed ASAP if it sold outside that auction.

ER · August 27, 2005 4:56PM

<< And, if you do, what checks/balances do you have in place for making sure your customers don't think they can buy something that is no longer available?

Wondering this because of some ebay auctions and because of the latest Superior thread.

My own thought is that if I have something for sale in an auction, I don't have it for sale anywhere else, and if I did do that, it would be removed ASAP if it sold outside that auction. >>

But ASAP is not good enough. You got got to have a program that instantly remove the item once smoebody hit the BIN. And I mean simultaneously.

LALASD4 · August 27, 2005 5:01PM

You just cannot sell items in multiple venues @ the same time. Communication between the venues can go down at anytime and the same items could be sold multiple times!!

UncleWiggly · August 27, 2005 6:19PM

Is just 2 venues considered multiple? What about having a coin in your shop in a display case and on a website at the same time? What if you sell the coin in the shop at closing time, lock up and go home, come back the next morning and find 2 computer generated msgs. One saying that someone bought the same coin
off the website during the night and the other saying they already paid for it through your check-out with paypal.

As soon as a coin is consigned for auction, it should be removed from all other venues. But, I can see some individual circumstances where a dealer can put a coin up on eBay and at the same time still shop it around. It wasn't too long ago someone linked a coin over that had a openning bid of $1,000,000.00. None other than Rare Coin Wholesalers...with 0 feedback too by the way. I can't see them saying... "No, we have it up on eBay. Go bid on it there so we can charge you shipping."..., if someone called looking for that particular coin and offered them $1500 less if they could find one not knowing they had it up on eBay. I would think they would at least covered the what ifs when they put it up. Or course again, a newbie eBay seller with 0 feedback, what do they know! Nice advertising gimick by the way. I think they know alot.

Jerry

darktone · August 27, 2005 9:26PM

Items offered for auction should not be offered for sale at other places until the auction is over- no exceptions.

MrEureka · August 27, 2005 10:21PM

But ASAP is not good enough. You got got to have a program that instantly remove the item once smoebody hit the BIN. And I mean simultaneously.

In a perfect world? Sure. But realistically, most dealers lack that capacity.

For example, I often go to coin shows and sell coins that are listed on my website. Unless I develop a system where I am instantly messaged every time a coin sells online, and unless that system instantly removes a coin from my website when it is invoiced from a remote location, there is a distinct possibility for a coin to be sold twice.

I'd like to think that my clients will cut me some slack if a coin is double sold, but I see that's an unreasonable expectation on my part. I will now notify my IT department to add text on our site stating that all items are subject to prior sale.

LeeG · August 27, 2005 10:30PM

<< I'd like to think that my clients will cut me some slack if a coin is double sold, but I see that's an unreasonable expectation on my part. I will now notify my IT department to add text on our site stating that all items are subject to prior sale. >>

Andy I think most folks would, but we have seen some that won't (CYA).

ddink · August 27, 2005 10:32PM

<< In a perfect world? Sure. But realistically, most dealers lack that capacity. >>

Then they should not be listing items in multiple venues.

ziggy29 · August 27, 2005 10:34PM

If we're going to take this to its logical extreme, I guess dealers should stop advertising in print media altogether. There's no way to remove a coin from the listed inventory after it has sold.

MrEureka · August 27, 2005 10:47PM

Then they should not be listing items in multiple venues.

ddink - The phrase "they should not" implies that you have an authority which you may not have. However, if in fact you do have such authority, please tell us which single venue we should use. Or do we get to decide that for ourselves? Thank you so much.

darktone · August 27, 2005 11:16PM

Andy- there is a big difference between a coin being sold on your own website and not taken off after a few days than one being offered at a public auction.

topstuf · August 28, 2005 2:46AM

The more, the merrier. The objective is to sell coins.

But......... if ya got a WEBSITE, don't keep the pitchers up for the "SOLD" ones! With "SOLD" on em no less.

Bochiman · August 28, 2005 3:49AM

<< 

<< I'd like to think that my clients will cut me some slack if a coin is double sold, but I see that's an unreasonable expectation on my part. I will now notify my IT department to add text on our site stating that all items are subject to prior sale. >>

Andy I think most folks would, but we have seen some that won't (CYA).

>>

I would have hoped that a smart seller wouldn't have to be prompted to add that text but would have had it up from the start of "multiple venue selling". That's kind of like truth in advvertising, right?

Now, don't get me wrong.....I understand dealers/shows/websites and the fact that a coin can grace all those places at once. However, as Laura stated "Good inventory control" is necessary.
I do disagree with putting something on ebay that hasa realistic opportunity to sell and then selling that as well, elsewhere, and not stopping the ebay auction.

Do it once, shame on me, do it twice, shame on you. How many times has it happened to people? (I know, dealers that do this won't tell us how often they have done it)

BigE · August 28, 2005 3:55AM

I think it's OK to do as long as it is stated up front in the auction that there is a possibility it may sell elsewhere-----------BigE

segoja · August 28, 2005 4:03AM

BigE has it.

State that the coin will be available for immediate sale at XYZ show, and if it sells there, it's no longer available on e-bay or whereever else.

I wouldn't have a coin for sale at a show that has an auction ending while I was away.

If a coin sold at a show, then you simply fo in and close the auction early. Happens all the time, and there are no Auction Winners to disappoint.

Seems pretty simple to me, but then again my IT department, shipping department, buying department, selling department, the President's office and the gopher role are all one person. Normally communication flows freely.

ddink · August 28, 2005 4:51AM

<< ddink - The phrase "they should not" implies that you have an authority which you may not have. However, if in fact you do have such authority, please tell us which single venue we should use. Or do we get to decide that for ourselves? Thank you so much. >>

Andy, you're the ethics guy. If you believe that it's okay to sell the same coin to two people, screwing one of the two people in the process, then by all means I defer to your expertise.

magikbilly · August 28, 2005 4:57AM

Hi there,
A while ago I purchased from a dealer of coins and Proofs in the Southern Mid-West a slabbed Proof Walker. I found it on their website, called to confirm and set up a lay-away and started making payments faster than necessary. Payments were accepted and I received purchase confirmations and such by email. During the time I was making payments I had made a direct purchase or two from them as well. When I called to pay off my balance after making I believe two confirmed payments I was informed the coin was sold to someone else!

How did this happen? I was told the coin was sold on eBay about a week or so before I bought it and was mistakenly left up on the website (I think this is against eBay rules - to list something for sale in two places). At first I was like "yeah, right!" (said only to myself) - but then I looked for the coin on eBay - sure enough it was there in the completed auctions as I was told. I was offered my money back or a similar coin at a slightly reduced price (which turned out to be a problem coin IMHO which I promptly returned for a full refund without ANY problem). What did I do with all this? Believe me, I wanted THAT coin. I said "the hell with it". I just let it go. It was an honest, albeit avoidable, mistake made by a reasonably HONEST dealer (they still do this and still use a LOT of hype). I felt certain that, as I had made payments that were accepted and had received purchase confirmations and such the coin was clearly mine. However, were I the winner of the eBay auction I am quite sure I would have felt equally strongly I should get the coin as it was won before the online sale, although no payments had been made by the other party for whatever that's worth. Anyway, I KNEW this was an honest mistake - and I still am not sure what the proper solution would have been. In the end, perhaps the coin went to the person who could leave negative feedback, and well, that wasn't me. I won't deal with them again though

Best to you,
Billy

MrEureka · August 28, 2005 4:59AM

Andy, you're the ethics guy. If you believe that it's okay to sell the same coin to two people, screwing one of the two people in the process, then by all means I defer to your expertise.

I'm only allowed to screw one of the two people?

RYK · August 28, 2005 5:01AM

I'm only allowed to screw one of the two people?

Good point. Maybe the buyer NOT having the coin delivered is NOT the one getting screwed!

How many dealers/sellers sell their items in multiple venues @ the same time?

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