Ebay mistake costs big money

Discussion in 'Coin Chat' started by jaceravone, Apr 14, 2014.

  1. Ric-G

    Ric-G New Member

    Been lurking and definitely learning...Joe, I read your informative posts when you first got the HOF coins....Just want to say thanks for sharing the latest even though it was tough....You have a good perspective...Wishing you the best.
     
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  3. Numismania

    Numismania You hockey puck!!

    There was an absolute wingnut on the CU forum a few weeks ago, slamming Kryptonitecomics (a seller above reproach) for selling him a slab that wasn't perfect, a few scratches/scuffs, nothing you wouldn't expect. Buyer went so far as to say the seller should have had it re-holdered BEFORE selling it. This particular coin was on consignment, so, why is it the consignment seller's fault? Why is it the seller's responsibility to get it reholdered?? It ISN'T. That whacko was booted pretty quickly. If I mentioned the ebay name 'reindeermccoy', would I be right? If it isn't, that is one person you will WANT to block if you sell on ebay. Trust me, you won't regret it.

    Joe, your buyer sounds tame compared to the aforementioned member, so I'm on the fence as to who it could be. BUT, b*tching about a scratched slab (I can understand if the whole coin was obscured, but chances are slim to none you'd see that)????? This seems to be a problem that is grown legs and this one will begin to run faster and be a more common reason for returns, especially for those with buyer's remorse. This is only the start of it. What's worse, a simple SNAD, regardless of return policy, and ebay WILL side with the buyer on this, and I find this just ridiculous. Considering I've received submissions back with an already imperfect slab, WTH is a seller supposed to do? I guess you COULD keep a container of Maguiars car polish around, or some other compound to 'buff out' the scratches/smudges, but short of that, it's another way ebay takes more protection away from the seller, which is minimal to begin with.

    Sorry to hear this problem has happened to you, Joe, and sorrier (more sorry??? lol) that it seems to be a trending problem with buyers. Though, I DO think that, in your case Joe, buyer's remorse was actually to blame here, and it was his only 'out'....but then again, who knows what's next with ebay. Joe, I feel for you, I do, but as a seller on ebay, you know you are already handcuffed before you even list an item (I sell, and I know I am, also, and there's not a GD thing you can do about it)...yet, unfortunately, it STILL remains THE place where the MOST eyes can view it. Damned if you do, damned if you don't, but definitely damned if you're a seller.
     
    Last edited: Apr 16, 2014
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  4. x115

    x115 Collector

    sorry to hear that.
     
  5. 19Lyds

    19Lyds Member of the United States of Confusion

    I would NEVER to that.
     
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  6. Tater

    Tater Coin Collector

    So I guess you have to balance out the what you want as a seller. If you do not offer a return policy on coins that have risk of being hot for a short period of time so you are protected for a return like this or do you risk saying sorry you saw the no return policy and ebay backs me and receive a brutal neg. feedback?
     
  7. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    Honestly, I think the best thing to do is just do what the seller did. Have a good return policy and when it bites you in the backside (which it will occasionally do) you just have to live with it. I think in the long run, this method will yield the most successes.

    That said, this coin is still worth far more than the price invested in it. So, a large profit will still be made...just not the maximum profit because the sale at the peak of popularity didn't work out.
     
  8. Tater

    Tater Coin Collector

    Interesting question. I have never paid this amount for a coin in my life let alone ebay, however I do have a few coins in my collection that I have bought on ebay that once they were in hand I have not sent them back even though I wasn't as happy as I thought I was going to be or the price changed and have kept them and figured that no one made me bid on them other than myself. But on them I have been out hundreds of dollars not thousands.
     
  9. Tater

    Tater Coin Collector


    I agree, its how I have rolled. I figure I get more bids if I offer the refund and I'm worried about having neg. feedback, as it is something that I look at when I buy coins on ebay.
     
  10. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    Exactly...it's just part of doing business. IMHO, making an extra $1K on one sale isn't worth damaging my reputation. It's too bad that it happened on this particular item when it did.
     
  11. -jeffB

    -jeffB Greshams LEO Supporter

    First, good on you for going public with this story. I hope it'll help others avoid the same mistake. (Especially now that it's appeared on Coinflation!)

    That said, a couple of lessons that I see here:

    1) If you offer to accept returns on eBay, you've got to accept returns on eBay, whether it's for a good reason, a bad reason, or no reason at all. If you check the "no refunds" box when you start your listing, it doesn't prevent you from accepting returns -- it just means you're not compelled to accept them. Once you've listed the item and said you'll accept returns, you're obligated to honor that policy, like it or not.

    2) Given that that's the case, it's a terrible idea to offer returns on something that's obviously enjoying a short-term spike in value, or that might be at risk for a short-term dip in the near future. I have ethical problems with doing the "risk-free PM speculation" thing (buy with a return policy, keep if it goes up, return if it goes down), but there's absolutely nothing legally or contractually wrong with taking advantage that way, and no way to prevent people from doing so.

    The horror stories of people abusing eBay's "Significantly Not As Described" policy are a separate issue. So is eBay's heavy bias toward buyers in Buyer Protection vs. Seller Protection disputes. But in the case you've described, if you had not offered returns, you would have been in a much stronger position, and you might not have had to give up your windfall.

    Having said that, though, you're clearly choosing the best possible way to deal with the outcome. I've seen stories from many disgruntled sellers who could learn a lot from your attitude. :)
     
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  12. TaborTot22

    TaborTot22 Well-Known Member

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  13. coingeek12

    coingeek12 Well-Known Member

    well, this doesn't happen everyday, and it is very informative.
     
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  14. JPeace$

    JPeace$ Coinaholic

    I wouldn't do this. It's my responsibility to do the research and my buying decision alone. When I've bought an item, then later saw it go on sale or found it cheaper at another location, I've made the mental note and moved on.
     
  15. jaceravone

    jaceravone Member

    I guess my agent will be in contact with them for royalties! LOL!

    So here is an update. After I sent my follow up message to the buyer on Monday, I hadn't heard anything back. A knock on the door this afternoon was the mailman with my ex-$4k coin. I immediately credited back the money but I have yet to receive any feedback or any comments back from the buyer. I made good with the bank today and life is back to normal. I am good with both ebay and paypal. I modified my template in ebay and checked the box that says no returns, but also noted in the body of my listings that I would still accept returns if the product isn't as 100% described. As mentioned in a previous post, I have no problem offering a refund on something that I know I can resell for the same amount but when an item is a volatile as this, then I think ebay needs to be more proactive to protect the seller in this case and be a little more realistic with the return policy. Would I do the same if I were in the same situation.....I can't say I would, but one never knows until they are there.

    Oh BTW.....for those of you who have NGC slabs.....take the slab in hand and place your thumb and forefinger just north of the coin. Gently press down. Do you notice the "smudge" that begins to form? This is the plastic coming in contact with the white insert. On my slab, the area just north of the coin on the insert must be raised just enough to make contact with the plastic slab. Thus creating this "smudge" look. I was able to reproduce this on my NGC slabs that I looked at this afternoon. I took the slab and smacked it a few times down on a paper pad and the "smudge" miraculously disappeared. How about that.
     
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  16. Hey Joe: Congratulations! You made it to the big time. :) TC
     
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  17. furryfrog02

    furryfrog02 Well-Known Member

    Just saw this on coinflation and read the entire thread here. Man, you are INTERNET FAMOUS :)
     
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  18. Endeavor

    Endeavor Well-Known Member

    I'm glad this story made it on coinflation.com. It is very helpful to everyone and it makes for a nice ending to something that didn't start well. I think it shows if you try hard and go about things the right way, things will work out okay in the end. You can't always win, but with the right approach and mindset you can achieve great things and gain respect from all. Congrats Joe!
     
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  19. Blaubart

    Blaubart Melt Value = 4.50

    Chalk up another vote for "I'd never do this".
     
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  20. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Joe's famous but so is we's........:)
     
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  21. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Right Bart. We take our lumps if we don't do our homework.........
     
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