Papps Family auction of huge number of coins on eBay and elsewhere next week. Legit?

This outfit, pappsfamilyliquidation, is advertizing a huge number of coins to go on auction next week on eBay. Some are $50 coins; some are high 5-figure coins (link: http://www.ebay.com/itm/1885-Morgan...861762?hash=item2f09156c02:g:O7MAAOSwk-pZiz~S). They list their location as Burbank, CA and have a website (link: http://pappsfamilyliquidation.com/).

Many of the items appear to be going for bid in different venues at the same time. For example the Morgan dollar pattern linked above is also going for bid here (link: https://www.invaluable.com/catalog/28ijq45tgb?size=200&page=2&categories=) on the same day, Aug 16.

Payment and shipping on eBay is by arrangement. Most worrisome is the eBay positive feedback is less than 80%.

Anyone know anything about this outfit or have dealings with them?

Cal

 

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They only have 30 feedback, with <80% positive, yet eBay is giving them "Top Seller" rating? How does this happen?

 

Impressive!

 

I don't know this company from a hole in the wall, but I understand what's going on. There are many smaller auction houses that can do live auction bidding on ebay, but ebay is only another form of exposure for them. Payment can be handled outside of the ebay/paypal system, there are buyer's premiums, and there may be other sites carrying the same live auction at the same time.

I have bought numerous times from auctions like this, but not through the ebay system (didn't even know it was running concurrently on ebay). When the winner is from either in-house (ie., a live, onsite person), or on another auction site, ebay will show a one-for-all winning bidder name (x***x). This can make people think that it's shill bidders if they don't understand what's going on.

In my case, if you look at what I won, and match the ebay user name to other winning bidders of that auction, you would think I spent just over $122,000 (not a chance). But what I bought the item for was correct, and I actually did win/pay for/receive the item.

The trouble is, most ebay users have zero experience with true auctions, and don't understand what a buyer's premium is, or how 'old-school' auctions actually work, which is worlds away from the ebay auction system. This can often lead to unwarranted negative feedback, simply because the buyer didn't understand the process. I do think ebay needs to make potential bidders fully aware of how the live auctions work, and that's in part why you have to be pre-approved to participate in these types of auctions.

Like I said, I know zilch about this auction house, but they're probably no different then any other true auction house out there. They're hoping to get additional eyes on their items using ebay, but I doubt they're pulling any fast ones on the bidders.

Just my 2¢...