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NGC Partners with Ebay for Expert Review Of Ancient Coins
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<p>[QUOTE="Carausius, post: 3603593, member: 76440"]I disagree. Ebay is not a coin dealership and they are not coin experts. They provide an auction platform. Period. The rest is up to the market. I would not expect Ebay to hire their own coin experts to authenticate coin listings any more than I would expect the landlord of a brick-and-morter coin shop to do so. Why on earth would they assume liability for authentication when there are 3rd parties that specialize in this type of service? To be honest, I think this proposed NGC solution sounds elegant. Your proposal would result in higher overhead costs for all buyers, while this solution only costs those that want the help. Whether it functions well, time will tell.</p><p><br /></p><p>The one thing that bothers me (also pointed-out by others above) is that there's no limit on how many requests can be processed for each coin listed. Thus NGC may say "likely genuine" to 100 bidders for the same coin at $5 each. That seems like a windfall for NCG, given that they are only "on the hook" to the successful buyer. <b>EDIT</b>: Thinking further about this, I suspect NGC could only offer such low, $5 pricing with this potential upside built into the equation. Most likely, the number of requests on average listings will rarely exceed 1 or 2.[/QUOTE]</p><p><br /></p>
[QUOTE="Carausius, post: 3603593, member: 76440"]I disagree. Ebay is not a coin dealership and they are not coin experts. They provide an auction platform. Period. The rest is up to the market. I would not expect Ebay to hire their own coin experts to authenticate coin listings any more than I would expect the landlord of a brick-and-morter coin shop to do so. Why on earth would they assume liability for authentication when there are 3rd parties that specialize in this type of service? To be honest, I think this proposed NGC solution sounds elegant. Your proposal would result in higher overhead costs for all buyers, while this solution only costs those that want the help. Whether it functions well, time will tell. The one thing that bothers me (also pointed-out by others above) is that there's no limit on how many requests can be processed for each coin listed. Thus NGC may say "likely genuine" to 100 bidders for the same coin at $5 each. That seems like a windfall for NCG, given that they are only "on the hook" to the successful buyer. [B]EDIT[/B]: Thinking further about this, I suspect NGC could only offer such low, $5 pricing with this potential upside built into the equation. Most likely, the number of requests on average listings will rarely exceed 1 or 2.[/QUOTE]
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NGC Partners with Ebay for Expert Review Of Ancient Coins
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