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<p>[QUOTE=&quot;Collect89, post: 1173310, member: 15445&quot;]<b>Yesterday, there were a couple posts between CamaroDMD &amp; Collect89 regarding a Teletrade auction lot.&nbsp; Rather than hijacking yesterday’s thread, I’ll post the subject conversation here in this new thread.</b></p><p><br /></p><p>Collect89 Wednesday at 4:30 EST</p><p>Here is a proof 63 CAM on Teletrade. Right now the bid is $2,300. </p><p><a href="http://www.teletrade.com/coins/lot.a...9&amp;imagetype=j2" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.teletrade.com/coins/lot.a...9&amp;imagetype=j2" rel="nofollow">http://www.teletrade.com/coins/lot.a...9&amp;imagetype=j2</a></p><p>Wouldn’t it be interesting if the Teletrade computer bids it up to $3,000 &amp; then lists it as &quot;not sold&quot; tomorrow.</p><p><br /></p><p>Collect89 Wednesday at 9:18 EST</p><p>It is after 9:00 EST. The bid is now up to $2,800 and the next bid will be $2,900. </p><p><br /></p><p>CamaroDMD Wednesday at 10:15 </p><p>How exactly does this work? Does the computer run up the bids?</p><p><br /></p><p>Collect89 Thursday at 8:08</p><p>They say somewhere in their rules that they have the option to bid on their own coins &amp; on behalf of their consignors (or something like that). I think I&#039;ll post a new thread so the CT folks can all comment. </p><p><br /></p><p><b>This particular Teletrade lot was bid upwards all day yesterday (apparently by the Teletrade computer).&nbsp; If you had bid $2,300 or $2,400 or $2,500 or $2,600 or ..., I believe you would have been incrementally outbid by the Teletrade computer later in the day.&nbsp; It gives a bidder the appearance that people are bidding on the coin when in fact; it is the computer raising the bid to an unknown reserve.&nbsp; In yesterday’s example, Teletrade started bidding at an artificially low price to get buyer’s attention &amp; interest in the coin.&nbsp; Today this coin is listed as not being sold.&nbsp; </b></p><p><b><br /></b></p><p><b>This is not my first experience with this Teletrade scenario.&nbsp; I’ve lost more than one coin to the Teletrade computer’s bid and the next day found the same coin listed as “not sold”.&nbsp; (I’ve also won some of the best coins in my collection from Teletrade).&nbsp; So do you guys have any comments?&nbsp; </b>[/QUOTE]</p><p><br /></p>

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