Pecunem crashed in the middle of today's auction

I wasn't going to buy anything for me but I saw a coin a friend has been hunting. He asked me to get it for him.

I submitted my bid with a couple of minutes to go, clicked confirm, and then it froze. Figuring it was my internet connection or my wifi network, I quickly restarted everything but Pecunem was still down. Their network crashed and it is still down!

Fortunately it looks like my bid did register and was successful (no other bidders on that coin). Good thing there aren't any other coins I must have in today's auction.

Are any of you trying to bid in Pecunem 26?

 

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Looks like it's back up now, after a 40 minute outage. The auction appears to not have resumed. It stopped at lot 178. I wonder how they're work around the pre-set hard closing times? They schedule closings every 20 seconds.

There sure have been a lot of tech problems with recent auctions.

 

Well good grief, I'm glad I took a peek again. The coin I bid on had closed and I'd won... or so it seemed.

Now the auction has restarted and they've backed up a bit. The coin is now closing in 13 minutes . However, the auction doesn't appear to be live yet. I bet they'll have to redo the clocks yet again.

 

Ouch! That sucks, both for them and you. Pecunem is a great platform. I wonder if there was some sort of DDS attack.

 

This is the first time I've seen them have a problem and agree that it is generally a great platform.

I did win the coin without any further drama. It went for the opening bid

 

Looks like they have shut down the auction. They made it through lot 315 and now the rest of the lots show a closing date of next Sunday.

 

So it actually turned out to be a stroke of luck for your buyer? The coin might have gotten some more bids if the site hadn't crashed...

 

MYSIA. Kyzikos. Obol
lot 179 i won rest stopped and now date 14-december.
meh

 

Perhaps... it's not a great example of the type but it is uncommon enough to expect at least one other bidder. I'd show the coin but there is another one coming up he also wants and I don't want to draw attention to it .

 

we will see next sunday ...then some Hadrian's are on..

 

Once upon a time all a dealer had to do was write up a list of coins and open the mail that brought in bids. A few still do business that way but most now have to have an IT department and guard against hackers, power hits and who knows what is next. I wonder if this growing complexity of the business has something to do with the ever increasing buyer's premium. Those of us not going willingly into the smart phone era will increasingly bemoan the lessening percentage of what we pay representing the coin itself and the increasing overhead add-ons.

I suspect the big problem at Pecunem today is what to do about lots that were consigned but closed on the cusp of the problem. If one buyer is happy to have no competition another and the seller will see themselves as wronged. There may be no right answer here but there sure are several that will be seen as wrong.

 

Pecunem with Gidbud&Naumann has 11.9% the lowest rate i know.
others go up to 25% in Europa.

 

Yes, perhaps ... but the crappy thing about Gidbud&Naumann is the "duty charges" ... the funny thing (not ha-ha-funny) about GN, is the fact that I always end-up paying ludicrous border/duty fees (my other sellers from Europe seem to be able to dodge the goalie and deliver my purchases without this extra tariff)

... ummm, but I am a huge fan of CNG ...

sure, they may have fairly high fees (15% buyers fee), but they have great coins, very helpful staff, speedy and reliable delivery and a very slick research-library (they're fricken golden)

 

yes my coinfriend i am also fan of CNG, but same duty/tax haha.
1 in 5 sales i pay extra taxes, when receiving from the USA.

 

G&N has some very high postage charges, hate to see all the other charges you guys get from doing those auctions, apparently. I seriously don't like auctions at all.

 

The postage is high but you get exactly what you pay for. Everything they sell is sent via two-day Fedex, whether it's a $5 follis or a $5000 solidus.

Unfortunately, avoiding auctions doesn't make you immune to their prices. Where do you think most dealers get their coins? From those same auctions you dislike. You can either pay a 20% mark up for the auction, or a 30% mark up for retail.

 

Yes, I am well aware of how dealers get their coins and that is fine that's what they do and what they get paid for to do the stuff I don't want to. I guess I have a bad attitude about it. Not to mention the fact that when you do auctions, you can't really negotiate much for a better deal after you win (from what I can see). Then you have to wait for awhile, then you can lose. When I was trying to do Ebay auctions, I think I won 2 out of 15 sales. I was pretty discouraged with the entire deal.

 

Patience is the order of the day. I've seen coins I wanted in dealers' inventories, and made offers only to be refused. Then I watched those coins sit on their shelves for a few years and get marked down several times. Just recently I bought a coin for half the price it was listed for two years ago.

 

Yes, exactly. I got 15% off some coins recently and they were already marked down before that.