TELETRADE has anyone sold here

I'm not a big time coin collector and from what I gathered at shows alot of dealers have told me that you can find stuff cheaper on teletrade than ebay. Of course, this is great for the buyers, but as for the sellers I'm wondering if teletrade has such of a bad reputation for getting less than someone would on ebay then why do people even list on teletrade??? Has anyone on this board had success with teletrade and if so can you really say it is a better way to maximize the selling price of your coins over ebay?

 

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Teletrade is a soso venue for selling low end coins, say less than $50. Keep in mind that they get a min of $5/max of
8% if your coin is a few hundred dollars worth. If you use their grading service for
low end coins it's an additional $11. Flip side is you benefit most if you have all PCGS 70 coins.

 

Teletrade is a respected niche player in the auction business. They specialize in high grade moderns in rare plastic. Irma will treat you right if you ever need assistance over there, she is well respected.

 

I have had absolutely no problem with Teletrade. I have bought as well as sold there. I think prices fetch pretty much around retail. They do have low end coins, but that is not what they have the most of. They have only NGC, PCGS, ANACS, and ICG grades, slabbed coins. DMPLs, PLs, proofs. Not long ago they had an 1895 Proof Morgan Dollar up for auction. Hardly a "low-end" coin. Many, many others. Nothing but good things to say. :hail:

 

And Irma is wonderful! Heres one of their "low-enders":

http://www.teletrade.com/coins/lot.asp?auction=2424&lot=1623

 

Take a look at Teletrade's offerings, survey the field, compare with prices at shows, dealers, e-bay, and Heritage and see for yourself.

Teletrade is by no means a "low end" outfit. They are very broad-spectrum. They aren't as high end as Heritage, but they're way above e-bay.

I have had excellent success at Teletrade; never a problem. Mostly buying, but some selling. I received an excellent return on an MS63 $10 Indian I sold there. 6% commission - about the same as e-bay fees, once you factor in pay-pal's 3%.

 

Always had good luck buying from teletrade. Tried to sale some stuff but it didn't do so hot, but I don't think it was a problem with the auction house.

 

while it is true that Teletrade does carry a fair number of really nice coins their niche specialty is moderns. This is not meant to be derogatory in any way, just a statement of fact.

 

teletrade is what it is, another coin auction website.

 

Just like any other place, some coins bring crazy money on Teletrade, and other sell cheaply. To me, it seem like early type silver, copper, and rainbow Morgan all tend to generally bring strong money on Teletrade.

 

if you are wrong i will ose 500

 

Well, I just signed up...I'll lurk for a while and watch the PCGS 34-58 Lincolns in 66/67 red, my slab set. Hopefully will be interesting.

 

Never had a problem with teletrade just figure in the fees and bid appropriately. I just bought a 1942S ANACS MS66 FS in old holder on ebay. Got it the other day - has PVC spots on the reverse:headbang: seller ( who owns a brick and mortar shop) somehow failed to mention that! Now I have to pay a 10% restocking fee on top of S&H + return postage. This would never had happened on teletrade they wouldn't had allowed it on the auction.
They also do not purposely try to hide things with their photography.

 

Teletrade coins go for cheaper because, generally, the coins they have are crap, and their return policy (with restocking fees) combined with tiny photos don't make things any better. Teletrade, in my opinion, is a cleverly devised retail outlet rather than a real auction house.

 

Thanks for all the helpful answers

I guess I like the idea of sending them 30 coins and not having to worry about listing them on ebay and shipping 30 different packages, however the one thing that is making me reluctant to go with them is the fees you would incur by bidding on your own auctions if they didn't reach the price you wanted them to achieve. In other words, with ebay I can list a ngc ms 65 coin for $600 with a buy it now for $650 and get a price I would be happy with knowing I will get at least $600 if the coin sells and if no one bids I'm only out the $4 listing fee, whereas with teletrade I would have to pay the 5% buyback or $30 if I needed to bid on my own auction to reach that $600 threshold plus the shipping back to me which looks like it would be $15, so now we are up to $45 for a coin that didn't even sell, it just seems like such of a huge difference between the risk involved in throwing a coin on ebay and only being out $4 as opposed to $45. I guess I'm just lost as to why anyone would sell here with this kind of risk and these kind of fees involved. Furthermore, if the buyer has to pay 12% I would suspect that this $600 coin them becomes a coin that someone would be willing to pay around $535 since with the 12% buyers fee their basis for buying this coin would then be around $600, once again no problem for the buyer (they get a pretty good deal), but as a seller I'm getting only $535 for a coin that I could throw on ebay and get at least $600 and if there is no interest I'm out a lousy $4. I understand that the old timers are traditionalists and it is hard to get them to convert from teletrade to ebay, but with the vast liquidity on ebay I guess I'm having a tough time seeing why I should go with teletrade over ebay. Honestly, I'm not trying to rip them, but I'm just lost as to why anyone would go with them.

 

Doesn't ANY seller with a restock fee who sells coins raise a RED FLAG ???

It seems crazy to me to bid on anything you have to pay extra to return if it is not as listed. Inconceivable !!!

Thats how crook's get profit by selling the same coin over and over again / or / make it non cost effective to return the item.

 

Sometimes it is a wise decision to allow a professional to provide the service that they are experts at providing. That expertise is what Teletrade offers. Your decision is whether you believe their expertise is worth paying for.


Editied to add:

As a numismatic professional with a fairly deep understanding of the current coin auction environment I would like to point out that not all sales venues are equal. Sometimes paying for quality is a worthwhile thing to do and not all venues should be evaluated based on their fees structure only. The real bottom line is how much money do you net at the end of the day. Selling the $600 coin will likely bring a different hammer price in each venue and that should be included in your decision as to which venue's service to engage. Please contact me via PM for more info on this subject.

 

Why not tell the whole audience here. i also want to know. Thanks