Quote: ...and...a $90,000 coin shipped by First Class Package?
At that value it really doesn't matter. No USPS insurance will cover that value and if you under insure for the 50k registered a claim would be rejected anyways for not being the true value. Private insurance has to be used to cover something like that and it's up to them the method they require for shipping.
Also just because it says first class doesn't actually mean it would be shipped that way. That's just the default, and if you ever change the default for one listing you have to make sure to change it back for the next one or all your listings from that point on will have the same super special shipping listed
Quote: The seller broke three legal contracts.
Legal contracts require it to be binding both ways. As long as the seller refunded the money in whole the buyer has no claim.
Honestly as long as buyers can buy things and not pay, cancel bids at will, cancel orders at will etc sellers should be allowed to as well. It shouldn't only be binding for one party. No major coin auction site (Heritage/Legend/Stacks/GC type ones) allows buyers to act how ebay does which is why sales there actually are binding
There were lots of cancellations by sellers early on when the prices were increasing. Someone on another forum said 2 out of 3 sellers would cancel when he was trying to buy then in the $500-$700 range.
Quote: Legal contracts require it to be binding both ways. As long as the seller refunded the money in whole the buyer has no claim.
It is binding both ways. The seller offered and the buyers accepted. You are 100% incorrect regarding the money changing hands. It absolutely does not have to. I deal with contracts in the volatile chemical markets on both a national and international levels. This is simply basic contract law. Market prices go up and down or are sometimes even not known when contracts are agreed to. None of that matters. Both the buyer and seller are obligated once they enter in to a contract. That happened here because the seller made an offer and the buyers accepted. Determining true market value would certainly be an issue though. Perhaps COA's # 2 and 4 could be used.
Well I can breathe a sigh of relief, my NGC submission was "picked up by agent" yesterday 12/10, and is "scheduled for grading" today 12/11 (coin + COA). At this rate I'm starting to regret not having it shipped to where I'll be out of town for a while, haha oh well. At least I can see what grade I get online.
Quote: I rarely use ebay, so can some one clarify if I as a seller cancel a deal, are there any charges to me?
If it's the first thing you did or you rarely use ebay and did that you might get your account banned as they are much harder on sellers than buyers.
As far as charges whether you cancel it, the buyer pays and then cancels, the buyer pays and returns it, the seller loses the paypal charges as paypal will not refund any of their fees. If it's a return you'll lose the cost of free shipping as well.
With sales tax you also get charges a fee on the sales tax as well as paypal is processing the purchase as one and then removing the sales tax. I'm not entirely sure how that's legal, but so far no one has gone to court to fight that
Quote:
From reading above there are no charges to a buyer.
Correct there are no charges to the buyer. ebay and paypal fees are always the burden of the seller. They can retract bids at will, cancel at will and return at will. I've had someone retract 10 different bids in a single day and they're still using ebay fine and dandy they're just using it on my blocked list now. It takes a really excessive amount for a buyer to actually get banned.
Thanks for sharing Velzee! That was cool watching the unboxing. Started getting anxious myself. That was weird the condensation on the holder. I'm assuming it was only on the outside right?
I'd like to do one too but I know there'd be a lot of "oops, sorry, hold on"
Quote: No it's not. Buyers can cancel at will and there is nothing the seller can do to force them to pay.
Sure there is something that they seller or buyer can do to enforce the contract. They can sue the party that broke the contract. Reality is that the amount of money involved for the difference in market price of most transactions is near zero. Couple that with the cost of suing someone and most will not bother to do so. People want to avoid dealing with those who create legal hassles, so this is the primary reason that ebay created its feedback system.
Quote: No I'm not, there's no damages when the buyer is made whole with a full refund. Buyers have no claim towards making a profit from a purch ASE
There are absolutely damages when there is a difference between the agreed upon contract price and the current market price. For example, if I agree today to purchase an ounce of gold from APMEX for $1574.91 and the price increases to $3000.00 an ounce tomorrow, then APMEX is still obligated to send me the ounce of gold once they receive my $1574.91 payment. If they don't, then I have suffered $1425.09 in damages. Conversely, if the market price decreased to $1000.00 an ounce and I didn't send payment or disputed the credit card charge, then APMEX would have suffered $574.91 in damages.
The fallacy in your logic is that neither the buyer nor the seller has an obligation to complete the contract. Therefore, a buyer can just refuse to pay if the market price goes down and a seller can refuse to ship if the market price goes up simply by sending the payment back. If that were the case, then there would be no such thing as a contract as all transactions would be considered spot cash purchases. Since the vast majority of transactions cannot be completed in an instance, we have contractual law where parties agree to the terms of the transaction prior to its completion.
Those who do not complete their agreed upon transactions are literally letting you know how much value they put on their integrity.
I shipped mine out on 11-30, and the package was delivered today. I went with the REGULAR service, so I'm hoping for a grade by the end of the month. I'm in no hurry. Just anxious, but in a good way.
Quote: I'm assuming it was only on the outside right?
Outside yes, standard for anyone in cold weather
Quote: They can sue the party that broke the contract.
You can sue anyone for anything you want, doesn't mean it's a legitimate action. ebay themselves tells you that buyers can cancel bids or purchases whenever they want.
Quote: There are absolutely damages when there is a difference between the agreed upon contract price and the current market price.
No there's not, you don't get to claim lost profit in most states. Your purchase price is what matters.
Quote: Therefore, a buyer can just refuse to pay if the market price goes down and a seller can refuse to ship if the market price goes up simply by sending the payment back
Because the buyer CAN do that, therefor the seller should be allowed to as well.
Again there's literal case law on this and in most places the only damages are the price you paid, aka you're made whole upon a full refund.
Anyone who feels that it's right to sue someone for a canceled order when buyers can freely cancel anything it would be greatly appreciated if they would at least post their user IDs so that the rest of us can block them as that is the only protection a seller really has on ebay
Contract law goes out the window when dealing with ebay. You are subject to their rules regarding breaking the deal which is what a judge will ask (what does ebay's terms dictate). And most states don't allow a plaintiff to claim lost profits unless the buyer explicitly stated they needed the item to sell for a profit or included liquidated damages in the contract (because then the seller can increase the price to accommodate the risk if they have a problem fulfilling). Buyer is technically not damaged if they are refunded unless they had a contact signed that specified damages on top of the refund.
Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited. Contact Us | Advertise Here | Privacy Policy / Terms of Use
First Page
Previous Page
Posted 12/11/2019 3:46 pm
