True, and $24 to $27 thousand dollars if you win and pay for it today and he then skips town and you don't complain until after the the roughly thirty days or more lead time he has given himself. I'm not saying he is a scammer (and chances are he isn't because if he was I would almost expect to see him running multiples of this dutch auction.) but it is just this kind of auction that I would expect a scammer to run. It does bother me that it is a 24 hr auction and you have to pay within 24 hours. Why does he need the money right now if they aren't going to be delivered for a month? That kind of "Pay me right now and you'll hear from me in four weeks" raises a big red flag. (Hijacked account might be a possibility. His past auctions show a prediliction for selling novelty colorized items and nothing high priced like the AGE sets. But again I would expect to see more of these auctions. Maybe this is the first one though. Think about it.)
A scammer could run one of these auctions every 24 hrs for the next 21 days. There would never be more than one show up at a time, since people are waiting until Nov 27th or later to be contacted there would be no feedback negs until early to mid Dec, by which time if it is a scammer he could get away with up to $588,000 dollars. Do it with a few different IDs and in a month you could easily clear a couple million bucks.
A good question to ask him is what time was his order placed and what are the first 6 didgets of his order number. Referencing other threads, with that information you should be able to handicap somewhat whether or not he'll receive the order. I have serious doubts he will receive the sets from the mint.
I have two orders in that I doubt will ever be filled. As of yesterday, PCGS and NGC have graded 3300 reverse proofs--ALREADY. Now there may be a couple regrades in there, but given there were only 10,000 minted, I am wondering whether the mint has made its entire distribution. 3300 is a huge percentage of 10,000 to have been graded within several weeks--and of course there are many, many collectors who will never have theirs graded. The mint may be done, but just not bothered to inform any of us who are still waiting.
From first hand experience, if the seller accepts payment via Pay Pal, the company will not release the funds until he is able to document delivery either by providing shipping numbers and/or USPS documentation demonstrating delivery of the sets.
Sounds more to me like the guy is hurting big time for money and doesn't want to wait until the end of the month to sell them. I think he'll get less money in a presale like this. But I didn't know they were still shipping either.
The buyer has 100% feedback and I'd say this is likely legit. But I wouldn't bid on it because it looks too easy to be a scam. He could have had an order already filled, then modified the order to look like coins are coming, he would have the money, close the account, and skip town long before the buyers were expecting coins.
<< <i>From first hand experience, if the seller accepts payment via Pay Pal, the company will not release the funds until he is able to document delivery either by providing shipping numbers and/or USPS documentation demonstrating delivery of the sets. >>
I wasn't aware of this. Is this a policy for presale's only?
I wasn't aware of this either. Pay Pal froze my account and eBay has temporarily suspended my ability to sell--this despite my emailing pre-sale buyers with great frequency.
As the purchase amount is so signficant, they are doing their best to protect everyone involved. Good to see in my opinion.
Comments
A scammer could run one of these auctions every 24 hrs for the next 21 days. There would never be more than one show up at a time, since people are waiting until Nov 27th or later to be contacted there would be no feedback negs until early to mid Dec, by which time if it is a scammer he could get away with up to $588,000 dollars. Do it with a few different IDs and in a month you could easily clear a couple million bucks.
I do not think that the US Mint will deliver anymore Gold sets.
SNMAN
I have two orders in that I doubt will ever be filled. As of yesterday, PCGS and NGC have graded 3300 reverse proofs--ALREADY. Now there may be a couple regrades in there, but given there were only 10,000 minted, I am wondering whether the mint has made its entire distribution. 3300 is a huge percentage of 10,000 to have been graded within several weeks--and of course there are many, many collectors who will never have theirs graded. The mint may be done, but just not bothered to inform any of us who are still waiting.
From first hand experience, if the seller accepts payment via Pay Pal, the company will not release the funds until he is able to document delivery either by providing shipping numbers and/or USPS documentation demonstrating delivery of the sets.
The buyer has 100% feedback and I'd say this is likely legit. But I wouldn't bid on it because it looks too easy to be a scam. He could have had an order already filled, then modified the order to look like coins are coming, he would have the money, close the account, and skip town long before the buyers were expecting coins.
--Jerry
<< <i>From first hand experience, if the seller accepts payment via Pay Pal, the company will not release the funds until he is able to document delivery either by providing shipping numbers and/or USPS documentation demonstrating delivery of the sets. >>
I wasn't aware of this. Is this a policy for presale's only?
As the purchase amount is so signficant, they are doing their best to protect everyone involved. Good to see in my opinion.