eBay slab policy challenged.
Placid
Posts: 11,299 ✭✭✭
Online Internet auction firm eBay, the American Numismatic Association, the Professional Numismatists Guild, and the ANA president's coin firm have been hit with a lawsuit in federal court alleging anti-competitive conduct.
There are four plaintiffs: Universal Grading Service of New Jersey; John Callandrello, a UGS shareholder; Joseph Komito, a New Jersey coin dealer; and Vadim Kirichenko, a New York coin dealer.
They claim damages in excess of $75,000, exclusive of costs, interest and attorney's fees and permanent injunctive relief.
Basis for the claim is an allegation of conduct "constituting violation of antitrust policies, as well as violation of anticompetitive conduct.
There is also a claim for "civil conspiracy and trade libel" pursuant to New York common law. Under the rules of defamation, truth is an affirmative defense to trade libel, if the action complained of actually took place.
The summons and complaint was filed in late August in the United States District Court for the Eastern District of New York, headquartered in Brooklyn, where the Hon. Charles Sifton presides. An initial conference has been scheduled for Jan. 19, 2009, at 10:30 a.m. before the Judge Robert M. Levy.
Plaintiffs claim a "conspiracy between [Barry Suppler & CO., LLC], ANA, PNG and eBay to obstruct the ability of the smaller coin grading services to participate in the coin marketplace on eBay."
Link to full artice.
There are four plaintiffs: Universal Grading Service of New Jersey; John Callandrello, a UGS shareholder; Joseph Komito, a New Jersey coin dealer; and Vadim Kirichenko, a New York coin dealer.
They claim damages in excess of $75,000, exclusive of costs, interest and attorney's fees and permanent injunctive relief.
Basis for the claim is an allegation of conduct "constituting violation of antitrust policies, as well as violation of anticompetitive conduct.
There is also a claim for "civil conspiracy and trade libel" pursuant to New York common law. Under the rules of defamation, truth is an affirmative defense to trade libel, if the action complained of actually took place.
The summons and complaint was filed in late August in the United States District Court for the Eastern District of New York, headquartered in Brooklyn, where the Hon. Charles Sifton presides. An initial conference has been scheduled for Jan. 19, 2009, at 10:30 a.m. before the Judge Robert M. Levy.
Plaintiffs claim a "conspiracy between [Barry Suppler & CO., LLC], ANA, PNG and eBay to obstruct the ability of the smaller coin grading services to participate in the coin marketplace on eBay."
Link to full artice.
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Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I think of how they gave Canada's top grading company (ICCS) so much grief that I hope Ebay gets taken to the cleaners.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
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<< <i>We need to sue them for having names normal people can't pronounce! What's up with a UGS shareholder anyway; checked out the ticker and <<<No results were found for UGS>>> >>
It doesn't need to be publicly traded to have stock.
``https://ebay.us/m/KxolR5
<< <i>Get the popcorn, fire up the BBQ, Set up the lounge chairs..... >>
<< <i>Oy vey. Just what are they alleging? How are they being discriminated against? >>
Ebay won't let sellers use their names in the title line. Also can't post grades in the title unless it's a top company. Sounds discriminatory to me even if their slabs are crap. Ebay should let the buyers decide.
Same idea with restaurants requiring a jacket (or shoes) and casinos can throw out players who can beat the games.
eBay should make a seperate section for the garbage slabs....
"Overgraded Slabs"
"Discount Slabs"
?????
Gardnerville, NV
=========================
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Check it out --> Our eBay Auctions
Think I'll get any buyers? Who wants to print the stickers for me?
Apparently (from what little I can gather), they tried to start a legitimate (as compared to the usual ebay seller owned pretend grading service) TPG using the Trugrade and Nugrade slab shell. Like Dog97, I was surprised there were shareholders. I tried their website, but "suspended page" flashed in my browser.
<< <i>I had to go and look for one of their slabs (two in this case)...
Apparently (from what little I can gather), they tried to start a legitimate (as compared to the usual ebay seller owned pretend grading service) TPG using the Trugrade and Nugrade slab shell. Like Dog97, I was surprised there were shareholders. I tried their website, but "suspended page" flashed in my browser. >>
I hope the coin parts are manufactured in the States
and not in China
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
The Lincoln cent store:
http://www.lincolncent.com
My numismatic art work:
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USAF veteran, 1986-1996 :: support our troops - the American way.
<< <i>Oy vey. Just what are they alleging? How are they being discriminated against? >>
Pcgs must have BB'd some of their coins
<< <i>Ebay is a private company, so they can set their own policies.
Same idea with restaurants requiring a jacket (or shoes) and casinos can throw out players who can beat the games. >>
Are you really sure about this? I can think of a lot of things they could do and land in big trouble!
very well with generic prepackaged "stuff". I would suspect that the collectables area (including coins) gets more complaints than any
other area on Ebay for misrepresentation etc.
Lawsuits like this just cost Ebay time and money they would rather not have to deal with. Would ebay really get out of selling coins
and other collectables because of things like this? I don't know but in a way could you blame them if they did?
<< <i>I hope not ... that would kill the hobby for a lot of people ... >>
Yup. Like it or not, there simply is no other selling site (or even combination of sites) that gets anywhere near the amount of traffic that eBay does.
I think this lawsuit would have more teeth in it if an aggrieved party that wasn't a self-slabber were involved (ICCS, Dominion/PCI)...
1/2 Cents
U.S. Revenue Stamps
<< <i>
<< <i>I hope not ... that would kill the hobby for a lot of people ... >>
Yup. Like it or not, there simply is no other selling site (or even combination of sites) that gets anywhere near the amount of traffic that eBay does.
I think this lawsuit would have more teeth in it if an aggrieved party that wasn't a self-slabber were involved (ICCS, Dominion/PCI)... >>
It's good that we live in a country where anyone who is wronged has the right to redress.
very well with generic prepackaged "stuff". I would suspect that the collectables area (including coins) gets more complaints than any
other area on Ebay for misrepresentation etc.
Lawsuits like this just cost Ebay time and money they would rather not have to deal with. Would ebay really get out of selling coins
and other collectables because of things like this? I don't know but in a way could you blame them if they did? "
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Fashion and electronics are - far and away - the "misrepresentation" problem
centers on EBAY. Collectibles are not even close.
Before 2011, the site will be bifurcated and collectibles will be in a linked or
stand-alone "mall."
LOTS of changes coming.
<< <i>LOTS of changes coming. >>
You've proably seen this quote from ebay CEO John Donahoe.
"There are times when I wish we can close this store and just open a new store, but we can't.We need to make bolder, more aggressive changes to the eBay ecosystem even if they are unpopular."
"Inspiration exists, but it has to find you working" Pablo Picasso
"Ebay is a private company, so they can set their own policies."
They have a right to set own policies but they cannot discriminate and create a non-competitive enviroment. A restaruant can require shirt and shoes but they dont say only coin dealers can have lunch with other coin dealers but car salesmen don't even think about it!!!
They are a private company but there are still laws in place to allow equal oppurtunity and no discrimination...check out www.findlaw.com
Second any company can have shareholders. It does not have to be a large company and listed on NASDAQ or DOW to have shareholders. A company can have one investor that invests $100,000 in a single "stock" and they are still a shareholder.
I hope EBAY gets more than their hand slapped. They have been creating a non-competitive enviroment with everything they do from their slab policy to their paypal policy which they own also. If ebay goes away from auctioning collectibles their will be another auction site maybe 2 that will appear. Collectibles is/was EBAY's core. If they go away from that then they become just another shopping site such as amazon. I don't shop there either.
I really had a problem with that statement. I'm glad it was addressed.
With respect to THE PROBLEM of slabbing company's and representation of accurately graded slabs----why doesn't ebay do what CDN does or smoething close. The % thingy they put on the first page of sheet.
a)NO SLAB OR GRADE ID in the title
b)an initial body in every DESCRIPTION defining % of grades and how close they come to sight seen.
c)one reference to ACTUAL SLAB ID in Body
Format the body of coin sales to help keep the shysters out when they try to tell the world how one is going to make a fortune on this particular coin.
I'd actually make any ebay bidders acknowledge that they read a well written disclaimer on valuation with appropriate caveats to buying sightunseen unknown slabs or even raw.
They can endorse a brand but restricting it is like a golf club that does not allow Blacks or Jews.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.