Keep in mind that I have bought at least 90% of my slabbed coins from teletrade. I recently sent in 36 coins for consignment, mostly lower end ($20-$200) stuff but all nice toners which would fetch a premium over book. They listed only 13 and returned the rest with a note saying they did not meet their "price requirements", I guess they have raised their standards since they went to the new format. I'm cool with that but I was surprised that some of the ones they sent back were certainly worth more than a few that they did auction. 2 in particular were a 71 and 73 sp66 Canadian dollars with spectacular toning, each would go well over a hundred bucks. Browsing the auction that's up now is a 73 with toning not nearly as nice as mine and they are starting it at $100. Bye bye teletrade.
Teletrade has been horrible for a while now, they did away with their Tuesday night no reserve auctions, and as you had happen to you, they can be very picky with their selections. They also raised their BP to 17.5% after being 15% for ages. They made a lot of people, myself included, mad, when they made all these changes. They are trying to make themselves look "better" but failed hard at doing so. I've bought my slabs through great collections, they have a BP of only 10%, and their FCM shipping fee is only $3.00 per slab. They also ship out much quicker than TT. I was lucky if my slabs shipped out 5 days after paying. TT also has HORRIBLE customer support .
Never found much I was interested in at Teletrade. As for their BP, Detecto, they only raised it as much as all the other auction houses have the past few years. Personally, when I bid at Heritage, I would pay even more of a BP there just because I know the kind of service I'm getting along with it. You get what you pay for, which is why there's light years of distance between places like Heritage and Ebay. Guy
Teletrade hit a low point about a year ago and their Tuesday night auctions were terrible . But recently they have taken quite a step up . They're still under Heritage but I have found some great Bust Halves on there recently . As for a buyers premium , if you factor it into your bid it should be a non issue . Now if only the price of Busties would go down a little as they've been going for double what they used to be .
As a buyer I find them very slow to ship. Also, my last purchase had three distracting scratches on the slab. This was a new label PCGS, so it's not like it was more than a few months old. And they advertise discounted bulk PCGS submissions, so they could have had it reslabbed cheaply if they had some quality control.
As a buyer, I will never rule out any auction company or seller. They might actually have something I want eventually. I was pretty fed up with Teletrade a few months ago when they made all their "improvements". But a couple weeks ago, they listed a 96-S 50C that was too nice to not buy. When the coins are scarce enough, you won't rule anyone out.
Really? If I won something on Tuesday, it was always in the fold by Saturday. No complaints here.......
