OK, I need a little education here.
leothelyon
Posts: 8,430 ✭✭✭✭✭
Hi everyone or whomever is up at this hour. Placed a couple of bids in the recent Baltimore B&M auctions but did not meet the reserve before the floor and live internet bidding took place. Now after the auctions, they show that I have a high bid in one auction. I realize we have dicussed this before but how in the sam-dickens did I win a action when I was told that my last bid did not meet the reserve?
I would also like to know why 33 of the 80 Jefferson nickel auctions did not sell when in fact they appeared to have sold during the live bidding that took place. Do they actually make people believe that a coin has received bids or is receiving bids to get you to bid? This really sucks and I don't believe I'll ever participate again under such false pretensions if this is true.
Leo
I would also like to know why 33 of the 80 Jefferson nickel auctions did not sell when in fact they appeared to have sold during the live bidding that took place. Do they actually make people believe that a coin has received bids or is receiving bids to get you to bid? This really sucks and I don't believe I'll ever participate again under such false pretensions if this is true.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
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Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Decisions......decisions.......stay tuned!
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
So smoetimes things like this happen!
I knew it would happen.
And sometimes the auction house IS the consignor and decide to sell for the lower amount rather than re-auction the coin.
<< <i>And sometimes the auction house IS the consignor and decide to sell for the lower amount rather than re-auction the coin. >>
I agree - though this does not seem to be widely known here in the forum.
I guess if there's something to learn from all this; How many collectors if you can call them that, let these auction houses decide for them what they fill their collections with. What nonsense all this is! It doesn't get any more commercialized then this folks, this monopoly these action houses think they have on collectors. If I'm buying something brand new, like a frigerator or a car, I have no problem with it getting shipped to my house. But coins? There's a great deal that could go wrong with coins and we know how inconsistent the TGS are with grading coins.
Those gals even tried to get me to pay for those coins by telling me to go ahead and send payment that if there's a problem to give them a call. I replied with a firm no, that I needed to know if I had a return policy. That's when I was redirected to another gal who told me that because I had bid and won that I needed to pay for the coins. Of course I had to tell her that I wasn't obligated to buy blah blah blah and she says, oh then, that's ok. Bye.
We all know how a coin can receive 10 different grades on 10 separate submissions and they think I'll be able to get it straightened out with some flexable grade guarantee the TGS have in place. What it is and what it could be are two totally different grade point of views, who are they going to believe? My money and I are not at someone's mercy when it comes to what I collect.
Give me a return policy or give me death!
Leo
I forgot to add; Jefferson Gems guy, if you're reading, send me those coins ($2000 worth) if you want to make a sale but don't forget the return policy!
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
(I am not affiliated with them in any way other than as a satisfied customer.)
Save the party favors til you get the coin and look er over.
Ray
Here's one on there now.
Starting bid: $235
Buy It Now $265
These type of ratio's are all over on eBay. It's crazy. Why dont they just list a price, and skip the ruse of "bidding?"
-m
- Marcus Tullius Cicero, 106-43 BC
<< <i>
<< <i>And sometimes the auction house IS the consignor and decide to sell for the lower amount rather than re-auction the coin. >>
I agree - though this does not seem to be widely known here in the forum. >>
<< <i>Leo, a word of advice. READ the terms of sale for any auction. Most of the auction houses have a clause that negates the return of certified coins, or many other clauses which can be a nasty surprise to an unaware collector. To a very large extent, other than for questions of authenticity, coins sold by the major auction houses are basicly not returnable. >>
Try European auctions...many negate the return, PERIOD!!
.....or they'll allow an exchange for credit on future bidding.
<< <i>You may be the victum of shill bidding. A thing like this can be worse than Ebay >>
Do you think? They'd never do that!
You probably paid too much, Leo
Leo, you're way off base on this one. You're supposed to decide whether or not you like the coin BEFORE you bid, not after. Once you've bid, the deal is done. You probably have lost your bidding privileges with them.
Yes guys, I took a chance and also had a change of heart of which I won't disclose here. And initially, I was ready to pay had I met any reserve. But since I didn't as I've stated twice in my earlier posts, I was not under any obligation to buy anything. Since the ball was in my court, I wanted a return policy.
Auctions are NOT retail sales and not approval sales. There is generally no right of return. If you wish to have a return privilege, you can buy from their fixed price lists.
Right'ch you are and I've made that mistake only once with such rules.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Make that 35 out of 80! Jefferson Gems just took another hit with the 1949 PCGS MS65FS. I don't understand how a bid can go
from $2580 to 2967 and not sell. Obvioiusly, the reserve was too high and then they lowered it meet someone's bid. I have a feeling Jefferson Gems was one of those spirited early-on bidders of 2-3 years back. When nearly half your collection doesn't sell due to
high reserves, this should send an alarm to those folks who have a ton of money wrapped up in those pop tops.
From the pictures, the 1938-S PCGS MS67FS that sold for $9200 didn't appear to have full steps. Me thinks this coin is heading west.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection