Superior's Denver Elite Coin Auction Screw Up

BACPAC · August 24, 2006 11:09PM

Has anyone else placed MAX ABSENTEE BIDS on LOTS in the Denver Elite Coin Auction and LOST these LOTS because the Your MAX BIDS were not included when the FLOOR BIDING started?
Should Superior do something besides apologize for their SCREW UP?

ANACONDA · August 24, 2006 11:10PM

Are you sure they made a mistake?

If they did, what would you propose they do?

RYK · August 24, 2006 11:25PM

This has happenned to me before with another firm. If you read the auction terms, most include a statement like, "auction firm retains the right to accept or refuse bids at its discretion", which covers them for many scenarios including this one. As a result, legally they owe you nothing. Should you choose to not patronize their firm as a result of your experience is entirely up to you. Obviously, they cannot rip the coin away from the person who has already paid for and posses it.

tmot99 · August 24, 2006 11:26PM

If this did happen and it can be proven, then it would seem vouchers off of future purchases might be in order. Certainly, there is nothing that can be done about it now, but it likely hurt the consigner. I would think that Superior would try to make it appear like they really cared. If this happens frequently, it would send a strong message to the numismatic community that they are not someone you would want to consign coins to. You might not get top dollar.

TwoSides2aCoin · August 24, 2006 11:38PM

I don't know

BACPAC · August 24, 2006 11:59PM

I cannot prove anything because I did not receive anything in writing. My online account files were erased. I expected to receive online notification of the lots I won because I tracked my lots in EBAY's completed listings and the winning bids were significantly lower than mine. When I didn't receive notice I called about the lots I was given the bad news by a member of the Auction Dept.

BACPAC · August 25, 2006 12:04AM

No I can't. All my online account files were erased. However, I did track them through EBAY's completed listings and found the winning bids to be significantly lower than my max bids.
Re your second question. I don't know. I didn't expect anything. I just asked for other peoples' thoughts.

UncleWiggly · August 25, 2006 12:10AM

This won't help you much. But, it is damn near impossible to enjoy this hobby sometimes. Sometimes you feel like you're caught in bozo land. My advice to you is to forget about it. If you don't, you will remain pissed off and start finding fault with everything in the hobby. What were you bidding on?

Jerry

VamGuy · August 25, 2006 12:16AM

My first, and last time bidding on a superior auction. I bid $2,300 on a coin August 9th at their website. According to the information, I was high bidder at $2100 and the reserve was met. Apparently, the bid never hit the floor because the auction opened at $2,000 and an eBay bidder won it at $2250.

Now, being the cynical pr!ck that I am, I'm figuring that they just do this intentionally based on the commission.

My high bid of $2,300 at 15% gets them $345 in juice.

Ebay high bid of $2,250 at 20% gets them $450 in juice.

Or maybe it was just an accidental error. Either way, I lose... and they lose my business.

rec78 · August 25, 2006 1:45AM

This is something new for Superior? I think they should change their name to Inferior.
A few years ago they had an a live auction on eBay and they screwed up some of the discriptions and photos-I emailed them telling them the coin that i was bidding on. They said that i bid on a different coin and took payment from my credit card and sent me some error coin that i did not have the least interest in. I called them and got the phone tag runaround. I finally got ahold of smoeone live and they reversed the charge and i refused delivery when it came. I would have been the winner of the coin that i was bidding on BUT I did not get it because they already sent it to someone else. I bid $650 and it sold for $425. They are pretty much off my radar screen also.

Coxe · August 25, 2006 1:55AM

I just don't get this at all. Happened to me in a sale of their maybe a couple years ago and I haven't bid in any of theirs since (but probably will in the pre-Long Beach). Everyone seems to know about their "issues" lately and I would think consignors would be hesitant to go with them because they wouldn't be getting top dollar. So they are clearly risking consignments and losing dollars themselves in higher fees from higher prices realized. SOunds more like they are running this like the government and not a business. Man, if that five figure coin Laura wanted was my consignment and I knew about the problem, I'd be expecting hem to make up some difference, perhaps a case of the new Lafite.

PerryHall · August 25, 2006 1:56AM

If you had hit their $100 BIN, you wouldn't have had this problem.

michael · August 25, 2006 1:57AM

wow i will think long and hard before being a consigner to superior

seems like the sellers are losing money for simple mistakes that should not be happening this often

wild

DMWJR · August 25, 2006 2:05AM

<< <i>No I can't. All my online account files were erased. However, I did track them through EBAY's completed listings and found the winning bids to be significantly lower than my max bids.
Re your second question. I don't know. I didn't expect anything. I just asked for other peoples' thoughts. >>

I would check directly with the auction house to see what the final bid was. If I recall from past experience, the listings on Ebay are not always updated with the final winning bid if the coin is won on the floor. I know that I have tracked a few lots in the past on Ebay as well as the auction site, and that has been the case.

rec78 · August 25, 2006 2:05AM

By the way, BACPAC---

to the forum

Russ · August 25, 2006 2:10AM

<< <i>All my online account files were erased. >>

What do you mean when you say your online files were erased? Erased by whom?

Russ, NCNE

RichieURich · August 25, 2006 3:45AM

BACPAC,

to the Forums.

Superior has been having some problems with their infrastructure for some time (the $100 bin's on eBay for coins like unc 1893-S dollars, the items discussed above, etc.) and I think it has already affected their consignments. We will see what the future holds for them.

messydesk · August 25, 2006 5:35AM

Maybe a floor bidder held up a "$100 Buy It Now" sign.

Superior's Denver Elite Coin Auction Screw Up

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