T.T Auctions : 1/2 the lot`s don`t even sell !!!
SUPERCARCOINS
Posts: 1,152
.... I wonder how Teletrade can stay in buisness when their weekly auctions average less then
half their lot`s sold .
I can`t even place a bid on most coins as the reserve bids are too high to begin with.
What good is it to have auction after auction of the same coins if the reserves are borderline rediculous
and the coins don`t sell ???
half their lot`s sold .
I can`t even place a bid on most coins as the reserve bids are too high to begin with.
What good is it to have auction after auction of the same coins if the reserves are borderline rediculous
and the coins don`t sell ???
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Aren't many of the lots owned by teletrade's parent company? If so, they are essentially using teletrade as a retail outlet. >>
I think you hit the nail on the head.
I do believe there are things going on in the background at TT involving dealer inventory, rather than collectors consigning coins. It appears to me TT is often used to test the waters with enormous reserves, and later the coin shows up in a different company auction.
I can't say if this is what is happening but it is not a new concept. In fact, many years ago during the MS-65 hyped market, there were several companies that would list multiple ads in multiple publications with multiple prices. If you bought anything from these ads your price was determined by the publication you ordered it from.
Joe.
Some of the reserves in TT auctions are ludicrous. I've seen a few nice coins that I'd like to bid on, buy even strong bids fail to meet reserve.
<< <i>It appears to me TT is often used to test the waters with enormous reserves, and later the coin shows up in a different company auction. >>
You mean like Mike Caspar did listing his Morgans with high reserves on eBay? But perhaps that was just accidentally cheap advertising and not manipulation of ASK prices. Will never know.
I have speculated that TT is largely the junk conduit for their Bower's and Merena material. I do buy from them regularly though .... not all of what they believe is junk necessarily is.
Bet they are making out like a bandit this year off the toning freaks too. Seems any ugly coin of color is a rainbow to them.
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