Teletrade Sellers Question
19Lyds
Posts: 26,492 ✭✭✭✭
Why do some auction lots on Teletrade go (Pending) at auction close while others post an immediate "win" price??
I realize that some bids may be pending but generally speaking, lots that are pending beyond the 30 minute mark after auction close generally do not sell.
I guess I'm curious as to whether or not consignors get the last word on final sales price?
I realize that some bids may be pending but generally speaking, lots that are pending beyond the 30 minute mark after auction close generally do not sell.
I guess I'm curious as to whether or not consignors get the last word on final sales price?
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
The name is LEE!
The name is LEE!
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Comments
Sellers HAVE to have their 'buybacks' (simply your reserve) placed before 2pm on the night their items go off, so sellers don't have that 'last word'. They know the second the lots close if the track them to the last second, as they know what their 'buyback' is well ahead of time.
I think this may have answered your question.
I have always known selling or buying right away or when I go to my account.
Have you ever seen any of these pending turn into a sale?
<< <i>Lee, I just sold a series on TT, and they went off last night. My 'buyback' bids (I had two lots not sell) were confirmed as my having 'won' them, at the same time I was notified I won that '62 Type B. So, in direct answer, it's my knowledge sellers know if their lots sold or not as quickly as a buyer knows if he/she won a lot (I average about 12 minutes after an auctions closes as to whether I won or not). Every lot is pending until that 12 minutes, for me...if a lot is still pending after that, it has not met the sellers 'buyback' bid.
Sellers HAVE to have their 'buybacks' (simply your reserve) placed before 2pm on the night their items go off, so sellers don't have that 'last word'. They know the second the lots close if the track them to the last second, as they know what their 'buyback' is well ahead of time.
I think this may have answered your question. >>
Its now 8:10pm. One hour and 10 minutes after tonights auction closed yet the two items in the above image are still "pending".
This.......makes me wonder whether or not the last bid posted has to be "approved"? (By someone)
The name is LEE!
I agree 100%
<< <i>My prediction is that they will majically disappear from your tracked items list and reappear in a future auction. >>
Exactly! Pending usually means the coin didn't sell and it will be listed again in a future auction.