Who does this?

So about 3 days ago some bidder comes from out of nowhere and started paying extremely high prices for ms66 and ms65 Morgan dollars. It seems that he is only bidding this high on one specific retailers auctions. I went to completed sales and found these. Just wondering what he is thinking. Because some of these are worth half what he's paying based on price guide value. He'll never make a profit on these will he? Like, if I had this much money I'd buy ms66 Carson city or anything but common year morgans. There's a bunch of ms65 Morgan's he paid 200 to 220 for as well. A quick search of completed auctions for even the last week will show.

 

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Maybe the buyer had a negative experience with the seller and is just bidding anything so to make them think that they are actually wanting the coims but will never complete the purchase for any of them.

 

That's what I was starting to think

 

All sorts of possibilities:
-- buying his own material so that he can say, "see how much they're worth".
-- a counterfeiter who needs high grade material to create copies.
-- someone who "thinks" he knows something.

I'm sure there are lots of other possibilities.

 

There are so many possibilities that Zi can't name them all. Several have been mentioned already.

 

Yeah I think this is the seller and maybe he just suddenly decided not to sell his Morgans and so he just created another account and bid on them for himself. Lots of people do that when their auction doesn't really go to plan.

 

Buyer could just be Rich and doesn't care what things cost. That's how the collector car market was destroyed, jacking up prices on most cars so much where you don't see many driving on the streets anymore. Most old cars are in private collections never to be seen again.

 

Nice coins but the prices just don't match

 

Yes I have several common morgans 65, 66 that I paid under price guide value for. They were selling like that until this guy come from nowhere. He's buying every 65 66 Morgan and some peace. But you don't really need to set a bid so high. And not usually would someone run someone so high. Each day the bidders feedback goes up. I would say positive. But what it's he thinking? That these will be worth 1000.00 each someday in his lifetime? I don't think you could BIN one and get this retail. There's some ending tonight. Same thing. It's almost like he's deliberately pushing them up. Would I try bidding him higher to see if he would go? Absolutely not at these prices. But this is what I do. I police Ebay and pop off steals at the last second. Or make people pay at least this much. Or buy it myself. But this guy is crazy.

 

This is an example from tonight. It's been different bidders pushing this guy up and they, for the most part, have little feedback like him. When I made this post he had 11 he now has 18.

 

It's a competitive, impatient person with money, who's sole goal is to be the winning bidder. He or she is not often going to be outbid. They are obviously new to the hobby and not disciplined. They are every seller's dream.

 

Could be dirty money and he is laundering it at 50 cents to the dollar.

 

Or a shill, sorry to say.

 

AMEN!!!

 

I have run into this on a couple of sites. One is a company called MBarr, I am sure there is someone selling coins through this company (I have purchased from him in the past with good results) but there are a couple of items I have bid on and someone came in with a ridiculous bid. To me it sounded like a shill.

 

What’s wrong with a fellow that just loves Morgan’s? Maybe young in the hobby and doesn’t quite understand the value yet?

 

I agree, I was fortunate to have an individual that was very supportive of me getting into coins. I would spend days at his shop just BSing with him, but I learned a wealth of information. He may be young and unknowing but before he spends money needlessly, I hope he has someone to bounce the prices off of

 

This seller has so many listings that it is unlikely that he uses a shill. He is not in my saved seller list because his coins always go for more than I am willing to pay. I think this is because he has a very large following...7352 listings as of now.

https://www.ebay.com/usr/mbarrcoins?_trksid=p2057872.m2749.l2754

 

Occasionally there are deals with this vendor. I've found a couple other sellers he's buying from now though. Maybe someone with an inheritance that thinks he's going to get rich...