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<p>[QUOTE=&quot;GDJMSP, post: 1457158, member: 112&quot;]Can you define &quot;hidden reserves&quot; for me ? There&#039;s only 2 things it can mean that I know of - 1 - bidders are not aware there is even is a reserve, and 2 - bidders may know there is a reserve, but do not get to see what the reserve price actually is until it has been met.</p><p><br /></p><p>That said, every auction house there is, all of them, allows consignors to place a reserve on their items. Is there something wrong with that or something &quot;sneaky&quot; about it ? No auction house tells bidders what the reserve price is, none of them. And bidders don&#039;t need to know there is a reserve price do they ? I mean what would it change if they did ? Nothing, because bidders will keep bidding until they win or they give up. So I see nothing &quot;sneaky&quot; about that either.</p><p>&nbsp;</p><p><br /></p><p><br /></p><p>All auction houses allow consignor buy backs. So there is nothing different there either.</p><p>&nbsp;</p><p><br /></p><p><br /></p><p>Phantom bids ? You&#039;re gonna have to explain that one to me because that&#039;s something I&#039;ve never heard of.</p><p><br /></p><p><br /></p><p><br /></p><p>Same thing is true with any auction house. Unfortunately it is something that not all bidders actually do. Many don&#039;t even bother to read them. But in every case, at any auction house, all bidders are required to agree to the terms before they can ever place a bid. And if the bidders don&#039;t read it, or even of they don&#039;t understand it, but they agree to it anyway and then bid. Then it is the fault of the bidder if they are surprised at the outcome or if something happens that they did not know could happen - not the fault of the auction house.</p><p><br /></p><p>If you don&#039;t understand something about the terms, and you do not ask questions or ask for an explanation - BEFORE you agree to the terms - then that&#039;s your own fault and nobody else&#039;s.</p><p><br /></p><p>Teletrade isn&#039;t sneaky, they don&#039;t do anything different than any of the other auction houses - nothing.</p><p><br /></p><p>Every auction there is in existence has some coins that are Not Sold/Unsold - every single one, even ebay. And with every single one of them when a coin goes Not Sold/Unsold, it is for one of two reasons. Either the reserve was not met, or the consignor bought the coin back.</p><p><br /></p><p>So somebody please tell me how what Teletrade does is wrong, or sneaky, or underhanded, or whatever, when they do the exact same things that every other auction house does ?[/QUOTE]</p><p><br /></p>

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