Companies Sue eBay over Coin-Grading Policy

absolutely did not notice

 

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I agree with you. The same people who complain about eBay probably obtained a significant portion of their collection through it, or sold a significant portion of theirs using it. But this is human nature. We smoke cigarettes. We have Sonic and McDonalds commercials followed by Lipitor commercials on TV (pay attention to the commercials next time you watch TV, even if you fast forward through them using your DVR like me). We are a species of conflict. Coleguy said it right, BE CAREFUL WHAT YOU WISH FOR, you will be forced to go to coin shows and BM stores and pay retail as opposed to overpaying and being a bidiot.

 

If you overpay, whether on Ebay or a dealers table, it's nobody's fault but your own. That is the real problem with people today...not placing blame where it lies.

 

That sucks. Did they at least give you the money for the clock?

 

The Necro-posters have returned.... along with The Walking Dead mid-season premier on Feb 8.

 

Man, thats racist.

 

Heh. In 2008, eBay was sued because some bottom-tier graders thought eBay was calling their coins "counterfeit". In 2015, eBay seems bent on encouraging sellers of actual counterfeits.

"That 'no-counterfeits' policy we announced? Ha ha! Only kidding. Here, we'll disband the Coin Community Watch Group. What, the buyers of your fakes are still raising a fuss? Well, we'll just step in and make sure those fakes get returned to you so you can find a more cooperative buyer the next time around."

 

Ha ha...just wait until someone sues them for collusion under the guise of the government's ridiculous and ambiguous anti-trust laws and they'll win with little effort.

 

So you didn't get your $$$ ? You don't get paid until the return period expires ? It reads like Ebay gave him the refund, but I presume it was not out of their pocket.

 

Excellent point....the ease of Ebay -- and the Internet -- in making information available to the masses and facilitating the sales/purchases of coins and exchange of information can NOT be underestimated.

I shudder to think about the state of coin collecting were it not for the Internet, Ebay, etc.

I still get upset at people who scam on Ebay -- there are lots of frauds selling coins -- and Ebay won't do anything about them because they do too much business. Ditto for the TV shows that sell coins at 100-300% retail markups.

I'll never understand how some people will research for weeks OR MONTHS a microwave oven, an HDTV, or some furniture that costs a few hundred dollars...but then buy something like coins costing thousands of dollars without doing any research whatsoever. I saw the same stuff in the investment world, too.

 

It almost certainly came out of the sellers pocket. Ebay ignores their own policies whenever they choose. Their policy states that atems must be returned in the same condition in which they were received, but sellers in another thread report having spoken directly with ebay representative that have told them point blank that as long as they are notified of the return the buyer will be refunded. Even if they sent back an empty box they would still be refunded and the seller pays it. Policy defines condition on return but actual practice says buyer can keep what he buys and get his money back too.

I believe the actual suit was dismissed. Ebay still has ther stated policy on what slabs can be listed as certified. SEGS has satisfied all the requirements that ebay set up inorder to be allowed to be listed as a "Legitimate TPG" but they still won't allow them to be listed. Once again they have a policy and they ignore at their choice.

 

Weird.....they're obviously trying to protect the buyers from a very loose-grading or fraudulent TPG. However, they have folks with dozens of listed items every day (hundreds, sometimes) and these folks are clearly selling cleaned, counterfeit, or other junk. I also know a few guys who when they sell something that they mispriced as too low will not go through with the sale and then claim that it was already sold elsewhere.

 

Which is really too bad. While I don't agree with some of the lofty grades they sometimes assigned, I don't think it was a junk service at all. I also wish PCGS and NGC would adopt their holders.

 

I don't either.

How dare those other sub-par grading companies tell ME what I am thinking??

 

That is why I am surprised that the case settled rather than the complaint being dismissed for failure to state a claim for which relief can be granted. An element of defamation is that the statements are false. I didn't see this as an allegation in the complaint. If I were the attorney for the defendants, I would have filed a counter suit for malicious prosecution.