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<p>[QUOTE=&quot;EyeEatWheaties, post: 1459027, member: 26972&quot;]Here again, in the spirit of simple customer service after the sale.&nbsp; I guess it also is semantics.</p><p><br /></p><p>There is nothing in buyer/bidding instructions of the potential of a last hour before going live that a reserve can be placed.&nbsp; </p><p><br /></p><p>Why should I have to call to find out what happened?&nbsp; <b>I don&#039;t know..</b></p><p>Why is it that they don&#039;t post the reason why the coin did not sell?&nbsp; <b>I don&#039;t know...</b></p><p>Was it actually a buyback - TT returns coin or was it a reserve? <b>I don&#039;t know.</b></p><p>Why not disclose the reserve amount that was set - <b>I don&#039;t know..</b></p><p>Why not notify bidders on lots that a reserve has been placed? <b>With todays cell phones -I don&#039;t know.. </b></p><p>Why isn&#039;t the highest bid below the reserve posted..&nbsp; &nbsp; <b>I don&#039;t know.</b></p><p>Will this lot be listed again?&nbsp; <b>I don&#039;t know......</b></p><p>Why won&#039;t re listing info sent to bidders.&nbsp; <b>I don&#039;t know - seems that would be win win win</b>&nbsp; </p><p><br /></p><p>Teletrade touts transparency in the bidding - no hidden reserves..&nbsp; ok here are semantics again, what about transparency after the bidding has stopped?&nbsp; What actually happened? If there was a reserve set, it most certainly is very well hidden from me.</p><p><b><br /></b></p><p><b><b>Here is what I think I am seeing.</b>&nbsp; TT is big, been around for awhile. I bet they have reams of data. They have a business to run and the idea is that you want your business to be profitable. Agreed?&nbsp; </b></p><p><b><br /></b></p><p><b>How does TT generate revenue? - by charging fees. </b>I&#039;ll leave out the stuff about them selling their own coins since that is not disclosed in any marketing material I have read of theirs.<b>.SO!&nbsp; It stands to reason that the more fees they can charge per item, the more profitable they can be.&nbsp; </b></p><p><b><br /></b></p><p><b></b>It is in TT&#039;s benefit to have the consignor place a reserve or buyback that is not met because there goes the <b>first fee charged</b> on the coin 5%. Of course, they hope the coin gets relisted to get the <b>seller and buyer fees</b>, however I bet they hope that another unmet reserve is placed. Now, if they have to send it back to the seller, there is <b>another fee, plus</b> an excessive <b>shipping fee,</b> although that is not clear.&nbsp; (Think Overstock, think how they won&#039;t combine invoices - it&#039;s all about the fees). 2 more times they will list for free, If I was running TT&nbsp; - yeah!&nbsp; I would hope for 5% a hundred times before the coin actually sold.&nbsp; lol - There is <b>another fee </b>that I am unclear of what it means: </p><p><br /></p><p><br /></p><p><br /></p><p>I can see clearly now that over a , say annually,&nbsp; given the amount coins listed, that TT would loose a lot of 5% seller fees they are charging for the buyback/reserve, - <b>That is, if they give bidders the heads up</b> that a reserve has been set.&nbsp; They will have less people reconsidering bidding more to meet the reserve. And since the coin just disappears, they get to set the whole stage again, up to 2 more times under their guaranteed sold program.&nbsp; Yep I would be... <b>&quot;Don&#039;t notify the bidders with maximum amounts under the reserve .... because then there will be a greater chance of someone returning to meet the reserve.&nbsp; We want to get another 5% out of that silly seller...&quot;&nbsp; </b>uh huh&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p><b>Remember this</b>, they are pro-active with encouraging early maximum bidding. That in itself prompts a bidder to think and likely research the maximum amount they are willing to pay.&nbsp; Why be there for the live auction when you have thought out the most you will pay?&nbsp; <b>I wonder,&nbsp; do sellers get a notification reminder that they have up to 1 hour before the live auction to place a reserve like bidders do regarding their max bids? </b> I bet they do and I bet a certain number of consignors do exactly that - place a reserve.&nbsp; </p><p><br /></p><p>Meanwhile who know how many views and max bids have been thought out and placed.&nbsp; Only TT knows. Don&#039;t do it sellers! The market on that day of the close will determine the coins value for you.</p><p><br /></p><p>I mean think about it. Given my experience along with comments and rebuttals here, how many are affected like I am and don&#039;t return to bid?&nbsp; Less people bidding, the less likely to get bidding wars etc. <b>No notification of a relisting, no info that a reserve was set, the less likely that a reserve will get met again and the more likely that TT gets to charge another 5% fee! </b>Pretty slick if you ask me!&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p><b>Why do you think they stop at 2 free re-listings? </b>Because probably their research has told them that consignors at that point will finally throw their hands up and just say, sell it.&nbsp; So now TT has coins that have used up the limit of free re-listings where does it end up?&nbsp;&nbsp; On the Tuesday the no reserve auction. lol.... It&#039;s all starting to make sense to me now.</p><p><br /></p><p>If I was a seller, I would be demanding that any bidders be notified that a reserve has been set.&nbsp; I imagine TT has the capability, the wherewithal to easily send this type of info out.&nbsp; I can see that a seller may not actually know/remember what he netted from the consignment after it finally does sell.&nbsp; From what I can tell, the seller has no say of when to list the coin. So I bet an invoice for the 5% fee for the buyback/reserve is sent out right away?</p><p><br /></p><p>ANyways - Lets discuss <b>semantics</b>.&nbsp; &nbsp; Seller consigns his coins to TT - if he wants to ever see them again, <b>he must buy them back by entering a maximum bid just like any buyer</b>. This is from the how to sell page, the irony is that the link (maximum bids) takes you to, guess! .......&nbsp; The how to buy page..&nbsp; lol&nbsp; </p><p><br /></p><p><br /></p><p><br /></p><p>The fact of the matter is that TT will sell this coin back to the seller, albeit for 5% of the amount the consignors enters as a maximum bid plus S&amp;H, That I am sure of. That in itself, in my opinion makes the coin sold. </p><p><br /></p><p>Now....<b>That coin has been sold, as long as it is also shipped back to the consignor. Is that what happened? no one knows..</b>&nbsp; I am sure that the seller is warned that if (buyback errr reserve - which is it?) amount is less than any current maximum bids that he will not be getting the coin back? Yes/No? </p><p><br /></p><p><b>IMO </b>- a buyback at TT is an amount - a value determined by an individual the same way my placing a winning bids is.&nbsp; A reserve is something entirely different.</p><p><br /></p><p><b>Why doesn&#039;t TT afford a consignor the option of just ending an auction for a flat fee?</b>&nbsp; Why confuse things by making a buyback also a reserve? </p><p><br /></p><p>Why offer consignors reserves, but not offer them the option of a second chance to the highest bidder? Seems to reason that if someone was close given the 5% buyback fee that it would be more profitable to take a bid that was close to the reserve.</p><p><br /></p><p>Betcha the real answers to the above has to do with a business model geared to generate as many/much fees as possible.&nbsp; </p><p><br /></p><p>wake up people!</p><p><br /></p><p>done for tonight, later tater[/QUOTE]</p><p><br /></p>

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