One thing: watch carefully their Shipping & Handling prices. They are well above industry norms and they DO NOT offer "combined shipping". You can very quickly run up a ridiculous amount in S&H. Keep in mind the 15% buyer's fee also.
They make it sound like they are some kind of official agency. But they are not. They are a private business with a catchy name. Their FAQ says "Only Federal Asset Recovery Services can list items on its official Web site "SeizedPropertyAuctions.com"."... Federal Asset Recovery Services is the same business as SeizedPropertyAuctions.com! Later on in the FAQ: "Are you a government agency? Federal Asset Recovery Services and its official Web site "SeizedPropertyAuctions.com" is a private corporation which specializes in liquidating assets of all types. We extend our expertise and services to state and federal agencies, local municipalities, police departments, lending institutions, the business and legal communities, and the general public."
No need to apologize. You brought up something that many of us do not do before bidding, and that is to read the terms in auctions because we assume they are "standard" terms.
Note that I'm not saying never buy from them, I am saying Know EXACTLY what you are bidding on Know what it's worth Be careful bidding from photos - many flaws aren't clearly visible Be aware of ALL of the add-ons and charges that you will incur Be aware that others will succumb to auction fever and bid moon money for junk - don't chase it beyond what it's worth There are - somewhere between very, very rarely and occasionally - good values to be found But I would say the exact same things about Heritage's or Stack's auctions...
...or Silvertowne Auctions, or Bid-A-Lot, etc.. The key with ANY auction is to establish a top bid you'll make on an item and have the discipline to stick to it no matter what. Streetcars - another one comes along soon.
Very good points, in the case of SeizedPropertyAuctions.com, or any other auction company, for that matter, one should to consider the cost of the lot, the Internet Premium (IP), any taxes, insurance shipping and handling ... before pressing the bid button. I have seen very nice coins at SeizedPropertyAuctions.com, as well as others like Seized Assets Auctioneers, but their shipping has killed the value I see for those coin every time. Each coin you win has an additional $12.95 or thereabouts for shipping. Call me cheap, but for, say, $15 coin (and valued at the price), $12.95 may be too much. However, when you are talking for high end, high value coins, $12.95 is nothing. It really is up to you how much, total, you are willing to pay. For me, I have passed, so far, 'cause I have not found the right one for me...
I've seen as high as 30% buyers premium and emailed saying I will bid but will not pay anymore than. 10% buyers premium and as long as it was before the sale ...they agreed and agreed to ship collectively and cheapest way possible with insurance.