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 Replies: 9 / Views: 1,708 |
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Pillar of the Community
United States
5362 Posts |
Recently a Contemporary Circulating Counterfeit 8 Reales was sold on ebay. http://www.ebay.com/itm/Interesting...361563812412The coin looks like:  This coin has the distinction of being the only recorded example of an 8R counterfeit with the date of 1784. My bid for the coin was $ 425.78 and I lost to a bidder who had a feedback number of 302 on May 26 (and still has that same number today May 30.) I am trying to identify the bidder who won because of the difference between the two high bids and the third high bid which was less than $50. So even though there were 7 bidders and 25 bids there were only two serious bids. I really do not like to cost anyone nearly $400 more than they would have paid had I sat out the bidding. |
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Pillar of the Community
United States
4883 Posts |
I have to ask (although I'll understand if you don't want to say) - if you get the "second chance" opportunity because the high bidder fails to follow through, will you grab it at that maximum bid price?
Colligo ergo sum
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Pillar of the Community
Singapore
631 Posts |
I bought from this seller before! So is this a good fake (collectible) or bad one (modern China copy) ?
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Pillar of the Community
 United States
5362 Posts |
Lucky Cuss I would buy the coin at my bid price - it was my bid. I consider a bid to be like my word - I do not break my word.
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Pillar of the Community
United States
5362 Posts |
Numister - I have bought many from them as well - the coin is a good one.
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Pillar of the Community
Austria
566 Posts |
...i had a similar experience these days. I would also honor my bid, even if it is only me and one other guy. Unfortunately not everybody is honoring his word, but that is a part of auction business and we have to tolerate it in one way on another (on either side of an auction, as winning bidder, 2nd highest bidder and as ebay seller). I have a general rule: I do not anybody to pay for a coin he does not really want, therefore it is always better to accept a buyer´s cancellation request instead of leaving him with a coin he changed his mind about. |
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Pillar of the Community
United States
1962 Posts |
Bob, one technical bidding note... you snipe rather "early"; most serious snipers leave less time at the end. Given that the other bidder had a big bid in well before (submitted w/98 seconds on the clock), then you did yours... anybody who was planning to snipe in those final (8) seconds you was too low, and thus you have no idea how many other bidders may have been interested at something approaching those levels. I myself was going to nibble at about $95, but as noted, that level of bid was no longer valid by that time.
Aside from that, even if it WAS just the two of you... geez, I think the collectible sellers mafia may put a bounty on you for what you're saying! Part of what makes the "old junk that people collect" world go 'round is that you only need (2) interested buyers to drive an auction. You obviously know what you want and bid accordingly... and if you look at the other person, their bidding is in the Latin American categories, so that person likely knows what they're doing. You both decided at that moment that securing this piece was worth that, and this was the end result. It is right and proper :->
It is a pretty nice example of not a typical type... but I was a bit surprised someone else went so high on it. I kind of figured it would go to you at about $125-150ish.
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Pillar of the Community
United States
1962 Posts |
Quote:
I would buy the coin at my bid price - it was my bid. I consider a bid to be like my word - I do not break my word. And an auction platform like ebay's system of allowing Second Chances at your max bid is part of what makes shill bidding so attractive to a seller. Bidding comes with the understanding that that is a MAXIMUM bid, only to be allotted to the point that the next highest bidder goes to. If that next highest bidder flakes out, they essentially did not exist, and that changes things (especially in a situation like this where no other recorded bidders were close). Again, though, since both bids were in "early" (by ebay sniping standards), there very well could have been other bidders at say $100, $160, $240, $280... but the seller never got to know about those. So, I don't think the runner-up should have to pay their max bid if the other buyer drops out... but it's not really fair to the seller to drop down to the next lowest recorded bidder, either. There is no perfect solution as I see it... I lean towards a seller being given leeway to negotiate terms with a bidder in Bob's situation (for something less than the faux high bid, of course). This is not neat and tidy, of course... but sometimes things aren't. If both sides can't agree, seller should get to rerun the auction. |
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Pillar of the Community
Singapore
631 Posts |
I suspect an eBayer practises shill bidding, as many of his bids are private and when I purchased 2 items from him and another eBayer from the same country, the packages arrived at the same time with almost identical packing styles. Red flags ? I suspect he has at least 3 different selling accounts.
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Pillar of the Community
United States
5362 Posts |
At this point - no second offer and I doubt there will be a refusal by the high bidder. There are three collectors that I believe would go that high and none would fail to honor his bid.
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Replies: 9 / Views: 1,708 |
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Posted 05/31/2016 12:48 pm
