I bid the wrong max bid on Teletrade - thought I was bidding on one coin, but actually was bidding on another, although, fortunately, the mistake will not be too far out of line, I still have over-bid for a coin I could have had a lot cheaper. I'm new to Teletrade and am just getting used to it. If you make the same sort of mistake on Heritage, for example, it just puts you one increment higher than the previous maximum bid.
You could always call them and explain your mistake and they may make everything right. I know I've messed up on Heritage and they have always made everything 100% right by me. Haven't had to contact Teletrade customer service in that regard, but I have no reason to believe that they wouldn't be of assistance.
Yes - not that hight, but remember the buyers premium that goes on top of it. The one I did it on heritage it would have been a disaster - luckily people stopped bidding in the right range. Needless to say my mistake you could add a 0 on the end of yours and that was how far I was over. About the same thing - watching two coins at once and bidding the wrong amount on both.
The coin I bid on was an 1814 dime in VG8, which lists at $45, so I might even be outbid before the bidding is over, since S&H plus BP still will only run near $45. However, it could easily have been a major ooops, as happened to you. I imagine a lot of people insert an extra zero now and then, just from typos, on a coin that sells in a high range, and then they can get seriously burnt, or find themselves committed to buy more than they really afford, or even unable to make payment. I'm glad to know that the bidding houses will allow people to back out of bidding mistakes, since typing and human errors make them very easy for anyone to do.
Mine wasn't an extra 0. I had two auctions up at the same time in two different windows. So I wanted to bid $300 on one coin and $550 - in my case I first bid $550 on the wrong coin - it accepted it. Then on the $550 coin - it said you have to bid higher. I thought I did so I tried $300 again -that was when I finally noticed the coin and the current bid. It was like oh crap - I did end up winning both coins at reasonable prices thank goodness. It was at the end of an auction on heritage and I got so flustered I did not even get a chance to try to lower my max bid(or see if I could by calling them). I flatout got lucky. Now on heritage the minute I see a coin I might want I do my research and place my bid.
I like Teletrade, but IMO the website navigation for bidding is a little clumsy. I could see bidding problems happening quite easily.
I started bidding on Heritage about two months ago, and liked it, so I decided to try Teletrade, too. My mistake was similar to that of Mark_H; I simply was trying to do too many things at the same time, got careless, and made an error. At least my error won't cost me that much, but it could have. Last week I was bidding on several much more expensive items on Heritage, only one of which I won, and had I made a mistake then, it could have been much more costly.
