I've been seeing a stream of mostly high-value coins coming up from seller hnai.com -- Heritage Auctions. I've always thought of Heritage as a competitor to eBay, although their domains don't really overlap all that much. I had no idea that Heritage listed items on eBay! And it's even more puzzling to see them listing in the BIN format...
They have bought from me a couple times. I think they buy and sell their own inventory as well as take consignments.
I'm also under the impression that they list other people's coins for sale on eBay as well. I once inquired about an eBay listing of theirs, and they had to check with the owner before providing me with an answer.
I think having a multi tiered network to dispose of your coins is the way to go. How many times on here have we heard go to heritage for better prices? That's where the dealers buy from, etc. So if HA can separate their material from what they can sell on their site and what's popular on ebay, they can maximize their profits. Basically putting the right coins in front of the right audiences at the right venue and cutting out the middleman.
I noticed this recently also, but with a twist. I was watching a few Roosies back in February on Heritage auctions. I logged in too late to bid, so I missed them. Then, about a month later, the same coins showed up on ebay by Heritage, with a BIN price higher than the auction closing price. I wondered why they were selling a coin that sold in auction. The coins didn't sell in 30 days so it was removed. Then, a few weeks ago, one of the two coins show up again on ebay as an auction. I ended up getting it $86 cheaper than the original Heritage hammer price, and $160 less than their ebay BIN price. I couldn't believe I got it so cheap either. My LCS said they will bid on their own coins to push up the price, and if they win their own coin, they will then send it to ebay. Does this sound plausible?
Shame ebay doesnt let you block sellers for such occasions. Sticker guy gets on my nerves, HA is getting on my nerves and there is some ancient sellers that are annoying with the same stuff thats been listed for 6 years now and no price changes.
I have been told by a source I trust very much, and who SHOULD know, that both Heritage and S-B quietly shill bid their own lots from regular auctions and put them into their inventory, when they think the low bidding is due simply to the "wrong people" paying attention. Then they use things like eBay to try to force-feed what they think the material is worth. Heaven forfend that the big two might overestimate the market value of coins. Hide and watch, it'll become more common as this numismatic bear market continues and develops.
Read all of the fine print. You agree to house bids and waive conflicts of interest when you register to bid. That also makes it legal.
I think I read in the David Lawrence sellers terms that you can tell them to bid on your own coin for you up to your set price you predetermine. Basically it's like setting a reserve without showing there is one. They were pretty upfront about it. It was called something like a guaranteed minimum sell price.
I knewed I seen that somewheres. (I'm lowering my vocabulary intentionally so that longnine009 doesn't think I'm as pompous. Shhhhh.)