Private Auctions: Poll

notwilight · November 12, 2006 1:44PM

As a seller, I want to give the bidder what he wants. So would you rather bid in a private auction or a public auction?

notwilight · November 13, 2006 1:58AM

Right now it's running about 3/2 against private auctions. It's clear you can't make everyone happy. TTT for weekday crowd.

notwilight · December 12, 2006 8:22AM

Based on the results of this poll I made my current batch of auctions public. I just placed the coins in my registry set inventory so they can't be inappropriately assigned. One other thing I didn't like about private auctions: they don't do anything to build your credability. I sold an SAE set for over $5k but since it was a private auction when you view my feedback it shows up with no details, just another positive. I still respect those who choose to keep their auctions private and understand that many (but not most) buyers would like to be more anonymous. I als understand that in the future Ebay will probably make this happen while leaving auction details available (bidders will be called "bidder 1, bidder 2, etc").

--Jerry

Russ · December 12, 2006 8:26AM

I've never used private auctions and never will.

Russ, NCNE

mirabela · December 12, 2006 10:15AM

I assume you are talking about ebay here. As far as I am concerned, private auction on ebay = scam. The first and best reason to do it is so nobody who is onto the seller's sleazy tricks can warn bidders. I would never run one, and for heaven's sake I certainly would never bid in one.

DennisH · December 12, 2006 10:21AM

I agree. I won't bid in them.

drwstr123 · December 12, 2006 10:25AM

I like to know my competition. If you're going to take away that edge, get someone else to bid on your auction!

notwilight · December 12, 2006 10:37AM

I appreciate these points of view. I think it was Russ who suggested just putting the coins temporarily in my registry inventory. Thanks.

But it still strikes me that 1/3 of the respondants who voted above prefer private auctions. We need to realize that there is a significant group of numismatists who value their privacy more than their fear of scams. Notice also that these private individuals don't post on the thread and I'm not asking them to.

But posts like mirabella's bother me enough that I don't want to be thought a scammer so I "went public". I will also say that the private auction I did had good results so there were adequate bidders to get me my price. I also know of some verified reputable dealers who use private auctions.

Cheers,
Jerry

mozin · December 12, 2006 2:03PM

<< <i>I've never used private auctions and never will.

Russ, NCNE >>

Konahead · December 12, 2006 2:05PM

not public, no bid unless it is very very rare

garsmith · December 12, 2006 2:13PM

On a high value coin I can see where privacy is needed, but private auctions on low value, commons make me wonder if smoething funny isn't going on behind the scenes!

Smoker · December 12, 2006 2:18PM

When I started selling on eBay I used private auctions because I thought that was
what everyone would prefer. After reading here for awhile I learned that private
auctions are suspicious so I went public. There was less bidders in my private
auctions. Prices realized for the same/similar coins was the same either way.

sonoranmonsoon · December 12, 2006 7:34PM

I always use private auctions in my listings. There are 2 many fake 2nd chance offers out there.

sonoranmonsoon · December 12, 2006 7:53PM

Actully this poll is making me rethink my previous statement. Most of my duplicates are sold out of ebay stores, but every week I put up a few listings on auction starting at a penny with no reserve. I have been making them private for about 6 months now, because I truly thought I was protecting the buyers. I have always thought buyers fear of schills was overrated. However, I must admit my private auctions do not get as much activity or bids as I would expect. I suppose most bidders fears of corruption outway their need for protection from scammers. I will drop the private bidding option for a while and see what happens.

notwilight · December 12, 2006 11:27PM

I agree that the buyer's fear of shills is probably overdone but it is there nonetheless and that probably explains why you don't get as much action as you want. My last public auction was for an ASE set that was 70,70,69 and it got good action but it was a very hot item. I have no way of knowing how many bidders passed because it was private.

--Jerry

TwoSides2aCoin · December 12, 2006 11:46PM

There are useful times for keeping the bidders private.
There is the THREAD about this guy, (zhanzheng8899@hotmail.com) that just hijacked an account and has sent a counterfeit 1921 Morgan to another forum member. These people get this information to steal identities from people who USE ebay. We are targets. They send out emails and get people to click on links in their email thinking it's a legitimate WARNING from PAY PAL that they have had "suspishus activity for the hope of frirends for coming to thank wong or not Please verify that this informashun is correkt type emails. Then unsuspecting, hard working, innocent Americans get RIPPED by these people because the LOGO™ looked like it was from PAY PAL and in a few keystrokes they just hit the enter button and gave access to the CROOK.

So I can understand why a HIGH DOLLAR coin might want to be kept PRIVATE.

Barndog · December 13, 2006 12:38AM

I can't recall ever having bid in a private auction on ebay. I've never used one to sell smoething either.

Coxe · December 13, 2006 12:44AM

You are painting all public auctions with the eBay brush. Unless you are bidding on the floor directly, you are are unknown as a bidder and the winner of lots in typical public auctions. When you are on the floor, only other floor bidder who care to pay attention know.

Private auctions on eBay, in my estimation, are scams to not allow outsiders to clue in bidders of a problem with a lot. Yes, they could be useful for folks bidding on naughty things....but we are talking about coins and Type 1 SLQs are not really all that naughty.

TwoSides2aCoin · December 13, 2006 12:51AM

<< <i>I can't recall ever having bid in a private auction on ebay. I've never used one to sell smoething either. >>

I bid in a few that I didn't win. Normally when I bid in private auctions it's because it's the ONLY coin that I can find on ebay through a search for it. Those times are infrequent, but I do recall it happening in my search of desired coins.
I do understand people not coming near them , though. I pass many a garage sale with the same type of thinking.

RBinTex · December 13, 2006 2:06AM

"I have no way of knowing how many bidders passed because it was private."

Here's one way to find out:

The ONLY time I think an honest seller should do it is when he is running 2 identical commodity-like items simultaneously (in which the market is very liquid & deep so that one auction doesn't cannibalize the other - & vice versa) with one auction public & one private so that the buyers can choose the format they want.

Personally, I've never run one & don't envision I ever will either.

Private Auctions: Poll

Comments

Leave a Comment