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 Replies: 21 / Views: 3,624 |
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Pillar of the Community
United States
4468 Posts |
I was bidding on a toned silver eagle at Great Collections. I put in a bid of $85.00 with 24 seconds to go. It came up that I was tied and needed to submit a higher bid. I was on my cell phone and by error I entered $8800.00 instead of $88.00. There was a bidder who bid $165.00 and I won the coin for $170.00 plus 10%. I have no clue what the value is on this toned coin. I bid on the coin because I liked it for my type set. Should I keep this coin or try to cancel the transaction. See coin photos below:   |
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Pillar of the Community
United States
4846 Posts |
ebay is a huge sucker for toned eagles that are slabbed, but $160 is pretty steep. I'd say if you can cancel the transaction with no repercussions, go ahead and do it, if not, you should be able to make most of your money back if you really wanted to on ebay. Put those reverse pics up first 
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Rest in Peace
10197 Posts |
Been there, done that! Don't think a toner like that is worth that much, never get good resale, suggest get money back, mine wasn't that much, only $20...hit 2 twice just as a way to watch bid, darn thing was run up to $20 by an on-site shill!  Edited by Crazyb0
06/12/2017 12:34 am
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Pillar of the Community
United States
1475 Posts |
That happen to me once before where I typed one extra digit. I hate using my cell to do any bidding. For your coin, I think it will sell for around $125 to $150 at ebay, but it's a coin toss. If couple of bidder really like the toning, then much higher. On other hand, it could go for $50. If the bid was a mistake, then I would return it. |
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Bedrock of the Community
United States
10284 Posts |
If you didn't pay yet, you can cancel. They'll just sell it to the second high bidder.
Can't say what it is worth but apparently it was only worth $88.00 to you.
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Valued Member
United States
294 Posts |
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Bedrock of the Community
Australia
21786 Posts |
For me to toning has no bearing on a coin's value. The pictures in PCGS Photograde imply to confirm this.
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Pillar of the Community
United States
4211 Posts |
I do like the reverse but I agree that $170+ would most likely exceed what you could resell it for on ebay. I would try and cancel the transaction. |
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Bedrock of the Community
13014 Posts |
I'm rather disgusted by all the replies of people who think it's okay to just try and back out of bids. Anyone who enters a bid at an auction should honor it and double check before they put the bid in. Quote:
If you didn't pay yet, you can cancel. They'll just sell it to the second high bidder. It's not ebay no they won't. They'll relist it or return it to the seller and now the item is tainted and will sell for pennies on the dollar Edited by basebal21
06/12/2017 08:17 am
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Pillar of the Community
United States
5825 Posts |
A classic example of not bidding your max and then letting nature take its course.
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Bedrock of the Community
United States
10284 Posts |
basebal21 wrote: Quote:I'm rather disgusted by all the replies of people who think it's okay to just try and back out of bids. Anyone who enters a bid at an auction should honor it and double check before they put the bid in. Quote:
Quote:
If you didn't pay yet, you can cancel. They'll just sell it to the second high bidder. It's not ebay no they won't. They'll relist it or return it to the seller and now the item is tainted and will sell for pennies on the dollar basebal21 ... I do not appreciate you posting publicly how I disgust you and quoting my opinion.  If 90 % of the people here think it's OK to back out because of a mistake, then I guess that is what most people think Slider23 should do in this case. I would stick by a fellow CCF family member here over Great Collections anyday. He didn't ask for critique on other peoples opinions he asked Quote:
Should I keep this coin or try to cancel the transaction. See coin photos below: If you would have said you would honor the bid and pay, that would have been sufficient. |
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Bedrock of the Community
United States
12057 Posts |
Bid retractions exist for precisely this reason.
Mistakes happen -- we are human. I suppose if he had bid $88,000 on it by mistake you would expect him to cough up the $88,000, basebal21?
There is ABSOLUTELY nothing wrong with using a bid retraction for an accidental bid provided that you do not make a habit out of it or abuse it in an unethical manner as a cover for "buyer's remorse."
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
 United States
4468 Posts |
I called Great Collection today and let them know I make a bid in error. They gave me two options: I could cancel the bid, or I could pay for and accept the coin, and if I did not like it for the price, then I could return the coin.
To be fair to all parties involved I paid for the coin, and will make the final decision once I get the coin in hand. Lesson learned - I can not use my cell phone for last second auction bidding.
Thanks for the comments.
Edited by Slider23
06/12/2017 1:03 pm
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Pillar of the Community
United States
3479 Posts |
I've done this before but on a coin I didn't intend to bid on. I swiped my curser across the screen and it landed on the bid button during a heritage signature auction. To my horror, It was a cleaned Seated dollar. I called Heritage and explained the mistake and they agreed to remove it from my invoice. I believe they contacted the under bidder and sold it as I never saw the coin come up for auction again. Great Collections will have the under bidders info as well. I wouldn't sweat it. |
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Bedrock of the Community
13014 Posts |
Quote:
basebal21 ... I do not appreciate you posting publicly how I disgust you and quoting my opinion. Your quote was a correct of your mistaken belief that they operated like ebay or maybe you didn't read the post and thought it was ebay. Either way if you were one that thinks it is okay to make bids at auction houses and not honor them then I guess the first part applies as well |
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CCF Advertiser
United States
1533 Posts |
This auction etiquette of honoring your bids comes from a time when we all attended auctions in person. It needs some modification to take into account the technology we use today including internet by PC and mobile devices. There will be some accidental technology snafus and we need to evolve our response to these situations. Last month my phone slipped out of my hand while I was watching a Heritage auction Live. I hit the bid button and very nearly bought something I had no intention of bidding on. As it turned out, someone placed another bid and I got out of it, but if I'd won I would have been faced with the same dilemma.
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Replies: 21 / Views: 3,624 |
Posted 06/12/2017 12:22 am
