Even with a caveat, why put it up for sale? I contacted them and sent a pic of a Type 1 reverse. Nothing. I wonder what the people that are bidding on it are thinking. SMH https://hibid.com/lot/103980852/191...&ref=catalog
I'm sure they're thinking "he promises to give a full refund if it comes back not genuine, so what am I risking?" Not sure what HiBid's business model or buyer/seller protections are like, but this sure doesn't fill me with confidence.
It's a live/webcast auction. I'm curious to see if any people that actually had the coin in hand or a close up look at it make a bid.
YOU ARE ENTERING INTO A BINDING CONTRACT. THERE ARE NO REFUNDS OR BID CANCELLATIONS. Per the auctioneer. A person needs to read the auction terms and conditions before bidding. Claiming that coin is fake after you win the auction will result in you owning an expensive fake coin.
"1916 Standing Liberty quarter. This coin will be submitted to PCGS for authentication after the auction. If the coin is deemed authentic the buyer will be billed for the certification fee; if the coin is not authentic we will issue a complete refund. We do not guarantee the grade of the coin." So the seller will be out seller fees plus cost of grading, if they adhere to what they state in the auction. I don't get it. You can clearly see that it's a Type 2 (1917+) reverse. It appears that you have to contact HiBid to find out what the seller fees are - does anybody know?
I guess if the auction house willingly continues with this item, knowing it's fake, then I hope it hurts their future business with people calling them out.
I don't think the seller's fee will come into play as the coin will not change hands. I've never seen this type of offer before on HiBid. How could the seller not know it's not real? I assume some, most or all of the coins may be from the same seller. If you look at some of the prices paid, they are insane. The onsite bidders have bottomless pockets. I bid on some Buffalos. They ended up not even close to my max.
Buyer's premium 10% + 3% for credit card use. HiBid doesn't vet the items they sell. Their volume is such that they don't care. Buyer beware.
Beachcomber Coins, Inc. v. Boskett It's enough of an open question to keep lawyers gainfully employed.
I was referring to the seller fees, which aren't specifically disclosed anywhere that I could find on their website. Under Seller Use Terms here https://hibid.com/home/selleruserterms/ #8: "Our Fees. You agree to pay us our then-current fees for your use of our Services. Please contact your Sandhills representative for more information regarding current fees applicable to our Services. For an additional fee, you may purchase additional advertising. All fees paid to us are non-refundable."
Oh. Sorry, I misread your post. While I have dealt with HiBid in the past, I've never sold anything on it.
This type of fake has shown up before: NGC Forum 1916 quarter authentic or a fake? Help Posted February 21, 2019
Some people are naive enough to believe they're going to get a true Rarity at Bargain Basement prices. In my opinion this kind of Deceit is Criminal.
