eBay HALTS 25th Anniversary Silve Eagle set auctions due to volume and pre-sales!

i dont even know why ebay is bothering to take down all these auctions. if they're worried about fraud, all they have to do is hold the payment until the buyer leaves positive feedback indicating they received the item.

halting the auctions is just creating a bunch of confusion.

 

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The Mint's scheduled ship date is now two weeks off. I would assume that the opportunity to sell something for $3000, with only a copy of a photo provided by the Mint, and no need to deliver that item for three weeks, was too much temptation for several con people.

There are probably too many Con people who have listed 25th anniversary sets for sale who will not be seen or heard from in two weeks. EBay who provides a warranty is nervous about the magnitude of the liability that they may be stuck with when these sets are not delivered.

A year ago I "won" an auction for tubes of ASE from a seller in North Carolina who had 611 100% positive feedbacks. He never delivered the tubes of ASE's to me or the other 14 people who "won" his auctions. eBay paid me in full in two weeks.

A year ago a tube of ASE's were selling for a little over $400 each, about the same as one a 25th anniversary set. There appears to have been hundreds of auctions since before the Mint began offering these sets to the public.

How much money do you think eBay will have to pay out on their Warranty Program, to the victims of the Con artists out there? I guess ten's of thousands of $$.

 

But it wouldn't be a loss to Ebay since they can just take the money out of the sellers Paypal account, right? Sure a few may not have balances, but for that they just lost access to the largest auction site and electronic payment system in the world. I think Ebay is doing this more out of loss of good will of buyers overall than financial considerations.

Chris

 

If I'm not mistaken and I probably am, but isn't there a time-frame around how long after the listing closes that ebay's buyer/seller protection expires? So if the protection expires 45 days after the listing closes and it takes longer for the mint to fulfill it's orders, then isn't the buyer completely relying on the honesty of the seller?

-LTB

 

the buyer can file dispute for non-receipt, which extends that protection for another month or so I believe. At that point, they can upgrade the dispute to a claim. If the buyer still wishes to give the seller even more time (which is crazy), they can call into paypal and make a request.

 

Nowadays, paypal holds larger payments on new/low feedback sellers anyways, so the potential for losses on these transactions is nil.

In my opinion, they should hold payments on ALL transactions until the items show delivered or feedback is left. This would cut down on the fraud dramatically and spur some sellers to offer better service by shipping faster instead waiting a week or so because they already got paid.

 

I have sold several items on eBay and I have never shipped the goods until after Paypal told me that they had the funds AND I transferred the fund out of Paypal into my checking account.

 

Good.

People shouldn't be selling something they don't have to sell.
No one that 'bought' one even knows for sure they are getting it yet.
Much less knows that it will grade "MS70" like many of the pre-sales were listed as.
It's gambling with your own luck and reputation, with the buyer as 'victim' if your assumptions don't materialize.
You know what assuming does to you and me... Better to err on the side of caution.

 

And if your wise, those funds would then be moved to yet another location. Paypal is a horror show on wheels and not to be trusted for a second.

In a loosely related note, a dealer I know sold a Chinese coin to a buyer in China for a few thousand via the 'bay. He is a wise man. He uses a global courier for delivery confirmation (which none of the scam artists want; paying out of his own pocket) and once he received the funds into a bank account, he withdrew and closed that account which was for only this sale. The bank said, "no way leaving the account open is a problem", but later they admitted that a reversal request had come through and *would have been enforced* to the 'amazement' of the bank rep he had spoken too. In the end he simply told the buyer/scammer to return the coin for a full refund. He never got it back and the scammer didn't get his money back either.

 

http://www.ebay.com/itm/1-Set-2011-American-Eagle-25th-Anniversary-Silver-Coin-Set-A25-U-S-Mint-/220887074990?pt=LH_DefaultDomain_0&hash=item336de548ae#ht_1070wt_1141


above 800. cheaters

 

When the dust finally settles, there are going to be quite a few folks learning a real good lesson.

 

Try to sell something now, you will be surprised!
Ebay has changed their policy for fund availability. For those who sold <25 items, funds will NOT be available for at least 10 days. Even if you have provided tracking information.

I just sold something 3 days ago, now the buyer received it, and left me very good comment. Yet, Ebay sucker still hold my sale proceed for another 7 days, before I can get the money.

Altogether, they hold for 10 days of my money, even if they claim the money will be available after 3 days.

Ebay is a bunch of liars!

This is HUGE rip off of the good sellers. Ebay can make plenty of money in interest, and more if they buy some short term Federal Treasuries!

and it is a HUGE strike for those honest people who have some hardship, and want to get some quite cash by selling something on Ebay. Because they are NOT going to get any quick cash!

Yes, there are bad guys on Ebay. But punish everyone is NOT a solution. That will ONLY alienate MORE good sellers, and force them to think about alternatives!

 

Not sure why do you call the seller " cheaters"

But Ebay should treat ALL sellers the SAME. If they delist other presale of this 25th anniversary set, why do they still allow others to sell??? Since ALL sets are presale!

So I just reported that item to Ebay, haha

 

Attempted fraud by sellers is rampant nowadays. I think it's in part due to the bad economy...

I used to be a powerseller, nowadays I mostly buy items. But I'm tired of the bull**** with fraudster sellers. Back when I used to sell, I would ship the next day. The buyers usually got their items within 3-4 days after the sale. What difference would it make if paypal held the payment for a couple days? The payment holds get released when the tracking confirms delivery or the buyer leaves feedback. Once you sell a bunch of items, your payments are no longer held.

It's strange that they held your payment that long. Did you call them and request an explanation?

 

The Mint charge to the credit card the day they mail it!! Once I order an ATB 5 oz coin, the charge did NOT show up until I received the coin.

So I give the Mint the credit for their honest act, and that is what a Government agency should do!

 

No yet, maybe I should call them.

 

I have over 300+ eBay feedbacks - 100% positive - not a problem for me.

 

Still on hold with an imaginary ship date of 11/19/2011. Still is better than a cancellation notice.

 

if the buyer left positive feedback or the tracking posted on ebay shows delivered, the funds should have been released. Sometimes there's weird **** with their system where things will "hang" and not go through as they should. If any weird crap happens, you really should call them otherwise the issue may never get resolved.

Generally speaking, selling on ebay is taking a risk. The way that the buyer protection through paypal purchases is designed, any buyer who knows what he's doing could easily shaft a seller no matter what precautions are taken by the seller. You could send the item registered mail fully insured with signature confirmation or whatever, and I could shaft you out of your item and out of collecting insurance.

It's why I've only sold items that I could afford to take a loss on, and why I'm comfortable buying on ebay.

 

yeah i agree. not sure why there is a double standard . I don't have a problem with sellers pre-selling if ebay allowed it. which they do under there policy but I guess for these sets they are trying to ban it. but you still see a few sneak in. its one big mess. I will be happy just to receive my sets.