Teletrade auction question...

+2




This thread ties in very nicely with my eBay schill bidding thread. I was on the phone today with Heritage, granted I am a small fry. But it took nearly a month to receive $1500 in coins. They would not ship to anything but my billing address. 4 emails all unanswered. The guy on the phone could care less that I was a new customer and not happy. Told me that I needed a copy of my credit card and copy of my liscense. He basically told me thats the way it is. Are you f'n serious? In this day and age of identity theft and he wants me to send him what?????? Wonder what what road blocks I will have if I send this junk back?

Teletrade, the same way. I have 4 unpaid orders that I want them to combine the shipping on. 6 emails now. NO! I am not going to call them. When they have the time to be reasonable, I might have the time to pay them.

All things considered. I'll take eBay any and everyday of the week for the Lincolns I buy. Reasonable if not better closing numbers, communicative sellers, fast shipping, buyer protection and/or return policy. What else does a buyer need?

 

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For the past few years I have bought most of my coins from TT, I like their pictures and the service is quite good also. I probably win less than 5% of the coins I bid on as I don't "chase" bids, I generally go to bed before the auction is over. Last week I won bids on two consecutive days and their "your coins have been shipped" email had both coins listed on the same invoice however they came in two separate packages on the same day with double shipping fees. I would like them to examine their shipping policy and perhaps ship once a week combining all lots won during that week. They have auctions sunday, monday, tuesday and wednesday so why not ship friday combining all 4 days?

 

Because people would complain if they don't get their Sunday coins by Thursday.

One of the things I always liked with TT is that they get coins in the mail like clockwork.

 

I kinda like that automatic bidding increment in that, as a seller, my hidden reserve isn't instantly revealed which, IMO, encourages buyers to continue to look and consider. The bottom line is, if I have a $250 buyback bid placed and a prospective buyer is only willing to bid $150 then where's the harm? And really folks, lets not kid ourselves, online auctions are in no way shape or form similar to a real auction. Besides, most folks wait until the last minute to bid anyway which kinda discourages bidding so I don't think anything sneaky is occuring. Those last minute bids or "snipes" either work or they don't work. No harm, no foul.

I expect that most folks are simply unfamiliar with Teletrade combined with "current online bidder" practices which makes thing seem suspicious when in reality, its all right there.

 

That sounds like a great idea except as Leadfoot said: "Because people would complain if they don't get their Sunday coins by Thursday."

As for EyeEatWheaties, expect to lose your Teletrade bidding privileges fairly quickly since, when signing up for your Teletrade account, you agreed to "their" policies and procedures which you are clearly violating by not paying for the items you won.

Teletrade does not combine shipping anymore than PCGS does much to the dismay of a lot of folks.

 

I can understand why, as a seller, you might like them. I can also understand the logic behind the policy that TT uses.

As a buyer, I just don't like games being played with the intent of eliciting higher bids, and I hope you don't include me in the group ignorant of TT policy.

Take care...Mike

 

Here are a couple I picked up off the 'bay last week. Let's just say that if I had won them both for $0 (free) on either TT or HC, I would have paid more than I did winning them off the 'bay.... (shipping + min buyers premium would have exceeded the amound I paid).

 

ARE YOU READY FOR THIS?

Dear Robert,

Thank you for your recent auction winnings. I am sorry, however, we cannot combine auction winnings, our insurance company does not permit us to combine auctions. We must ship each one individually.

I apologize for any inconvenience this may cause. Again, thank you for your participation. Sincerely, Irma


I'm calling BS! Just what kind of insurance demands that? Does anyone know of such a thing.

Show me where they will not combine items paid for into one shipment.

Furthermore.

I could care less, from what I am learning I didn't win anything. They let me have it at that price. Furthermore, there are far more reasonable sellers out there that sell the junk I buy. I am the customer and I am always right!

peace!


OH wait.... I'm not done.... $21.50 total shipping for $300 in 2 coins? RIPPPP OFFFFFF! They are more exorbitant than the worse eBay seller who overcharges for shipping! What a joke.

 

$10.75 per shipment isn't really that bad, but I suppose "rip off" is in the eyes of the beholder.

 

I could not find an explicit reference to "combining" shipments from different auctions with in the Terms and Conditions. Neither could I find the term "combine" or "combined" which leaves:

"These Terms and Conditions and any documents it incorporates set forth the entire understanding between the parties with respect to the subject matter hereof."
(bolding is mine)

Since combining the shipments of auction lots from "different" auctions is NOT addressed, it can only be assumed that it is NOT allowed since the Terms and Conditions layout what they will and are required to do.

As for Irma's reference to insurance, Teletrade has their own Insurance Carrier and not the USPS unless requested by the buyer and at the buyers expense.

"Teletrade provides limited insurance coverage for loss, theft or damage of coins while in its possession and for shipments it makes to Bidder in an amount as determined by Teletrade's insurer, such amount not to exceed the invoice price of the coin(s)."
(Bolding is mine)

Teletrade, like any auction house, is not going to hold up the shipment of items won in the hopes that you'll bid and win in another auction. They do combine all the lots won in a single auction which is only right. Often times I wish that they'd combine shipments especially since I bid Sunday and Monday auctions with regularity but since they don't, I don;t spend my time pining over it.

As for not paying for "four auction lots":

"Any payment not mailed to Teletrade within two business days of the auction (as indicated by the bidder's postmark) or not paid online within two business days of the auction is deemed to be late. Teletrade reserves the right to pursue legal action against any late payer and to bar him/her from future auctions. All return privileges are voided by late payment. If payment is not received by Teletrade within thirty (30) days of the auction, Teletrade reserves the right, in its sole discretion, to rescind the sale, in which event any lots won will no longer be available to the winning bidder and his/her bidder number will be invalidated. A revalidation fee will be assessed to those wishing to have their bidder number reinstated. A Bidder whose bidding number has been invalidated is prohibited from (1) bidding at any Teletrade auction, under the invalidated number or any other number, (2) registering again with Teletrade or applying for any other bidding number, unless and until approved in writing by Teletrade and the revalidation fee has been paid," and (3) consigning any coins to Teletrade, directly or indirectly, personally or through an agent or other consignor. This is not an approval sale. Teletrade is not a dealer and does not own coins."
(Bolding is mine)

Folks are welcome to dispute Teletrade's shipping prices but those same folks should have reviewed exactly what Teletrade charges for shipping, as indicated on their site, BEFORE bidding.



BTW, I thought that the LAST statement above "Teletrade is not a dealer and does not own coins" was kind of interesting as it debunks the thought that Teletrade is selling coins that they "own". Unless of course, someone knows otherwise.

Whatever.

My feelings are if you buy something online, whether its an auction house or eBay, where the shipping and handling amounts are published, then you have an obligation to pay for what you've purchased and deal with your complaints within the parameters setup by the selling venue. If you don;t like what you;'ve been charged then just don't buy from them anymore.

It's really that simple.

 

I don't see the issue.

You know the rules. You asked to go around them, and they said no, they have business reasons why they can't do that. I can think of a couple of reasons why an insurer would not want multiple orders shipped in the same package. Tracking (in case there is an issue) is a simple reason.

Perhaps I am biased, but I agree with everyone who said "set it & forget it".

And yes, when I bid on reserve auctions, I take Buyers fees into account. I also take shipping into account for non reserve auctions.

The price of a coin is the TOTAL amount paid to get it.

 

It is correct, TT doesn't own the coins. However, Spectrum owns Teletrade, and the are one of the largest coin companies in the world.

 

There are two things that I have come to understand shouldn't be underestimated when it comes to coin collectors:

1) Their frugality (cheapness)
2) Their lack of patience

I think this thread touches on both these topics.

NOTE: I am not passing judgment on people who have these attributes -- I have them myself.

 

Why not simply factor this into your bids rather than complain and condemn (not that there's anything wrong with complaining and condemning)?

 

My quick comment. The coins you listed are nothing that won't be offered again, so patience might be your best friend here . Totaling the suggested outlay , might buy you a single coin , in a higher grade, with far greater potential than the coins you listed. Just a thought.

 

This.

EEW, man up and pay them. It's not their fault you didn't read their policies before you decided to agree to said policies and spend some money.

If you take issue with it, just don't do business with them again. Not paying, though, that's just messed up, and will give you a bad name here... I know I won't be doing any business with you on this forum, at the very least.

 

I was under the impression this thread was about the subject matter in Post#1 . Folks , please respect the initiator's right to open a discussion and stop hijacking threads . If you have something to say please do , if you have a totally different subject matter, feel free to open a discussion on your topic, in your own thread . This is getting old.

 

Hmmm. So does this mean that respondents are either limited to simple answers or does it mean that responses to "other questions/statements" brought up in the thread which may or may not be limited to a "Post #1, cannot be responded to in which case your post is hijacking the thread?

Just curious.

 

Sorry, Coinman. I get sidetracked easily.

 

No Mike, I wasn't referring to either you or Lyds19 . But there are others who regularly , for no better description , attempt to purposefully or unintentionally " Hijack " a thread , and usually ends up on rant's about an issue that has absolutely nothing to do with the OP's intended discussion , ie not paying because they the TPG"S or auction houses won't consolidate shipments. Today has been a tough day for me, and this got me at a bad moment. I'm over it, what are we now discussing , shipping rates , reasons for not paying an invoice or the discussion opened by Merc ?