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 Replies: 40 / Views: 5,995 |
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Pillar of the Community
Canada
743 Posts |
Hey SPP I need some tips on where to cherry pick. Any suggestions for who I should be looking at?
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Pillar of the Community
Canada
1554 Posts |
 Has anyone noticed something strange about this auction (perhaps Shill bidding)? Appr. 90% of the auctions had the same winner (ABSENTS), I can't see how any one buyer would make that kind of purchase? Glenn  |
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Moderator
 Canada
10460 Posts |
Two points:
- One guy on the auction floor, a local coin dealer, bought a ton of lots. I was there and watched it.
- Secondly, ALL mail bids, are entered into icollector in advance of the online auction taking place, and are treated on the online environment as a single bidder.
Learn how these auctions work, before crying foul...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
Canada
2495 Posts |
I guess I'm wrong but I still don't think these coins sell in these depressed times and with the add-on of the buyers' fees and taxes.
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Valued Member
Canada
386 Posts |
Visited the show today.
It is interesting to see half the dealers there trying to sell expensive coins (more than $300) at full 100% Trends values in plain 2" x 2" (i.e. no ICCS, CCCS or PCGS grade certification). With all the fakes going around, I would never buy any expensive coins from these guys.
Edited by 1945V
11/03/2012 6:34 pm
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Pillar of the Community
Canada
2495 Posts |
What are these guys thinking?
Even try selling an ICCS coin for 100% of trends....Good luck!!
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Pillar of the Community
Canada
1554 Posts |
SPP Ottawa, well that's exactly what I'm talking about! One guy buying a "TON OF LOTS". Is that not a pre-emptive for the definition of shill bidding. A friend of the auctioneer sitting within buyers on the floor and bidding according to the auctioneer's prescribed recommendations? Does it not seem strange to you that this one bidder has won 90% of the most expensive lots, and the lots are not consistent with most buying habits. this buyer is all over the place, high end, low end, coins, paper money, tokens, etc? All I'm doing is giving everyone a heads up to an unusual auction practice that seems very blatant and unseen by this writer in the past 10 years of icollector bidding! When yo see most of the wins going to one buyer, bells and whistles should light up to everyone who's placed a bid? Even one C.C.F. Member above quoted, in times like these nobody buys high end coins, and here we have one bidder buying 'em all? HMMMMMMMMMMMMMM, makes we wonder? Glenn |
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Pillar of the Community
Canada
2301 Posts |
1 buyer at the Expo auctions spent well over 100k. The money is there. Quality coins are selling fine. I have sold NUMEROUS on ebay in the last month (5 cents) for 2 and a half times trends. The market is there for quality stuff. glenzy to cry foul and make those accusations is bad form I am afraid. The dealer that bought at expo (both nights) paid some staggering prices. I went after some stuff and gave up well over trends and still spent over 3K on the few I won. Lower Canada auctions I have bought from in the past and will do so again. I feel the shill comment to be unfounded. sorry. |
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Pillar of the Community
Canada
2495 Posts |
Two and a half times trends?
May I know the coins sold at this amount?
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Pillar of the Community
Canada
2301 Posts |
2 quick examples. 1870 rb and an 1892. The interest is there, so is the cash for nice examples.
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Moderator
Canada
10460 Posts |
glenzy1, that "buyer" is a coin dealer, and he always tries to get the first bid in... because the increments at higher levels, combined with hammer fee and taxes, can make or break the profit margin on the bourse floor. The next day, many of those auctions lots were his case...
Do you have any idea how ridiculous, and unprofessional, your conspiracy theory sounds?
Where do you think coin dealers get some of their inventory of key date items? Do you think Grandma walks in with mint state Vicky 10-cent coins? I actually beat that dealer to the punch on the error lots, I also won the 1972 VF-30 Vicky half and the VF-30 1902 Edward 25c, because I was the first bidder and no-one else bid... I don' collect either of the 50c or 25c series, I just saw an opportunity for decent inventory at 1/3 trends prices. In the end, I snapped up 14 lots - Louis is also my friend, are you going to accuse me of shill bidding too?
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
Edited by SPP-Ottawa
11/04/2012 9:51 pm
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Pillar of the Community
Canada
685 Posts |
$3 admission is quite fair than those Toronto shows
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Pillar of the Community
Canada
972 Posts |
Calling another CCF members comments " ridiculous and unprofessional " is unacceptable CCF form. You detour other CCF members comments by calling any members comment ridiculous and unprofessional. All members should be able to post there opinions without ridicule.  Edited by wireman09
11/05/2012 03:36 am
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Pillar of the Community
Canada
2301 Posts |
Shill bidding of auctions is one of THE most serious accusations you can make about coin auctions. When a respected member of this site makes that accusation, a persons professional reputation and livelihood are at stake. I know the auctioneer personally and call him my friend. I also deal with him on a professional basis. I toned down my comments to glenzy. I will be contacting him via another means to voice my opinion to him.
SPP is also a good friend of mine. I totally agree with his comments.
The moderators love reminding us that the Canadian side of this website needs the most "baby sitting" and volatile comments made earlier about shill bidding are dangerous, unfounded and could easily be construed as libel. It is very hard to tell someone they are wrong in print as emotion is read into each and every statement at an individual level. I know what each of the individuals do for a living and agree that the comments were both ridiculous and unprofessional. The ramifications of the SHILL BIDDING comment was not well thought out. I am also informing the auctioneer, so he can defend himself if he wishes.
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Pillar of the Community
Canada
743 Posts |
On a happy note! Enjoyed my second nuphilex show. Had blast searching the dealers for my favorite 1859 large cent. Found 5 at very acceptable prices. After closer look will keep 3 for my collection and couple others will hit ebay. Also met some really nice dealers and CCF members. Enjoy the coin SPP! I am happy to see a cool coin end up in the hands of a true collector. Cannot wait until March! |
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Posted 11/03/2012 5:53 pm
