Teletrade

Discussion in 'Coin Chat' started by Onehawk33, Apr 28, 2010.

  1. Onehawk33

    Onehawk33 Senior Member

    Does anyone have any idea how Teletrade determines opening bids? Just curious.

    Jeff
     
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  3. illini420

    illini420 1909 Collector

    usually it's the sellers bidding on their own coins
     
  4. Tater

    Tater Coin Collector


    interesting. What is the fee if they win their own coin?
     
  5. illini420

    illini420 1909 Collector

    Here's what the Teletrade website has to say about it:




    Teletrade does not enter minimums or reserves on behalf of consignors. Consignors are permitted to bid on their own coins, but they must do so by placing Buyback bids no later than one hour before the auction begins (see "Maximum Bidding" instructions on how to enter Buyback Bids). Consignors will be charged a flat 5% fee (minimum $5) on their full Buyback bid on any lots bought back in this manner. The maximum fee for any Buyback lot is $100. All coins/notes that are returned to the consignor after not selling, whether it be after one, two or three auctions will be assessed the following charge based on how many lots are returned. This charge includes shipping and postal insurance.
    [FONT=geneva,arial]Consignor Coin/Currency Return Fee (per shipment)[/FONT][FONT=geneva,arial]$15 (up to 10 lots) plus $5 per each additional 10 lots.[/FONT]
     
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