Teletrade auction scheme

They get recycled, Topcat. The consignor gets three listings in the auctions if they don't sell. It might help to talk to the customer service people to see how to be a more successful bidder if there is something you want. I just figured that the one with the highest bid gets the coin. Of course with an auction, in the last minute or so it can be quite a contest....

For sellers they have the raw coin submission option for $11 to any service. Hitch is you have to wait up to eight weeks for the coins to be graded, and then listed and then wait to get a check....

 

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I like Teletrade and it has been a nice place to purchase quality material. I also like their raw coin service and the ability to put hidden reserves on my lots that are unknown to potential buyers.

As I can price coins, I simply enter the max I will pay and then dont worry about it. I do my own homework on researching prices and don't get caught up in any bidding wars. I have got some good deals there and bought a number of items that later on sold in my ebay store for 100-300% profit. There are times when good deals can be had and other times when there are a lot of bidders bidding them up and then I simply back off.

A lot of the quality material I have in my shop for retail comes from Teletrade and many of these have been successful retailed for a nice profit.

TTR probably is not for some novice who cant price coins, do their own homework, or too lazy to research how it works. I prefer Teletrade to a number of other auction venues.

 

If you look at prices realized and their price guide, you will get an idea whether your coins are worth listing there. The major wholesalers regularly put out a list of what they are paying for coins. If you can ship coins to one of these companies at above what you would get going through the auction system, it makes no sense to auction them. If your coins have rainbow toning, etc. you may get a lot more than the wholesale companies will pay.

As for the raw coin submission, if you get a "raw deal" with the grading company, a coin you think is an MS64 comes back AU58, you just have to wait for the three auction rule to play out and pay the reserve and other fees. So the $11 deal is useful if you have the right coins with a high liklihood of a good grade. Ebay fetches higher prices on a lot of coins because they have greater exposure.

What is needed is a low cost system, where buyer and seller pay less than 10% of hammer price, 6% would be nice. But to have a system where quality imaging is done and where the whole infrastructure costs a lot of money to run, means that they have to charge a lot. Downside is that the more they charge the less likely it is that there will be a large volume of submissions by knowledgable collectors.

 

Bingo.

 

Well if you have more exposure, you have exposed the coins to a lot more people who don't know what they are doing so the two tend to go hand in hand. A smaller exposure probably means a higher percentage of more knowledgeable collectors.