Teletrade Rant....

As far as his title. I am sure he is just a workaholic and normal hours for a coin auctioneer are different than those others who have the title of Operations Director.

Must suck to be a suit and tie guy and have to be in on a Sunday at 7AM - symptom of a larger problem? The indications are there, especially when they allow their insurance company to mandate simple customer service requests like the combining of shipments not be allowed.

That is my opinion based on my experience .

 

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I frankly prefer Teletrade to ebay buying for nice coins which I retail from my shop. Did you post this rant to be humorous? Assuming your emails are really legit, I have to wonder if you researched their costs and policies before bidding. We are supposed to feel sorry for you? Are you kidding me LOL?

Teletrade is very professional managed and as far as I am concerned if you don't like how they oprate don't buy there. I have been doing business with them for over 20 years and bought many nice coins I have retailed from my shop and on the bay for good profit, especially currency. In addition with their raw coin service where no grading fees are put up front I have done well. Then I can put hidden seller bids on the stuff which is another feature of theirs I love.

I highly recommend Teletrade and it certaily works form me.

Unfortunately Ebay has pushed sellers (paying customers) aside in favor of fussy buyers, many who don't want to take responsibility to do their homework. Shipping costs are an unrecoverable cost of doing business. I find nothing unreasonable about Teletrades shipping costs. Occassionally Teletrade has specials where there is free shipping. With ebay I went to "free shipping" a long time ago and simply markup each coin accordingly.

 

Notice my smiley faces - What you mark up the coin so I am still paying the shipping? Gosh - at least I don't have to worry about that old buyers premium on ebay.

I find it kind of funny when people say "I buy off ebay because I get free shipping and don't have to pay the buyers premium.". They just can't realize it is all built into the price.

As to the original post - I agree with leadfoot you should call and apologize. If nothing else for the one post that said "Mr. Fish gils" - nothing more pathetic that using something like that. You might have actually got more attention - by talking to him in person and being respectful. My opinion.

 

I believe it. To carry a insurance policy the size of thiers they have procedures to follow. My insurance policy also has some strict guidelines. My insurance covers my shipping so I adhere to what they say. Why would I go against it? My guess is with their volume of shipping it is a method of tracking for the insurance company. Combining shipping can leave more exposure to risk and mistakes. If it is that big a deal tell them to bring the coins to the next show they are at near you.

 

I too agree with the fact that an apology is in order . Coin Dealer or Numismatic Auction Companies are dictated by Each Insurance Provider's Policies and regulations , and can vary depending on a multitude of factors , including those mandated by State Laws . I can understand the financial concern for Buyers , but for the most part , the insurance underwriters call the shots in determining how a company must Invoice and transport these items . It's always a good idea for any Buyer or consignor to fully understand the individual Auction House S & H policies and Insured terms before placing that bid. Most folks simply overlook the importance of the insurance policy as it pertains to any given sale or purchase. That , for me is the most important aspect , when considering a purchase , sale , and consignment with any Auction House. Insurance isn't cheap , but than again, it truly is when you consider a potential loss . Insurance is cheap , by all standards.

 

With out intending to sidetrack this "rant", just yesterday I won two items on Heritage. Both were invoiced separately and both will be shipped separately.

I was surprised until I got to thinking about it as the items were won in "different" auctions held on the same day. One of the Internet Auctions and one of the Long Beach Auctions.

Perhaps I should pay better attention.

 

Heritage will usually combine the shipping for internet auctions if it ends in the same week. Teletrade doesn't let you see the auction fee, when you bid, so sometimes I will get 25% charge more than I expected. 15% fee, 9.5% tax, plus shipping, don't go there as much any more. Most of other auction houses let you know how much the bid with fee is when you bid. Not the tax and shipping though. I also had same experience with another auction house, that won't combine shipping even though it's same auction held over many days.

 

I am not suggesting apologizing for making the request. You're right. It was a relatively reasonable request.

I am suggesting you apologize to him for implying he was lying not once but twice, and demeaning him in the e-mail. It was completely uncalled for.

You're right again. This whole issue is ridiculous -- OVER A LOUSY $5! -- and based on your own ignorance.

Many of us have dealt with Teletrade for many years. While there are complaints (in my opinion quite valid) about some of their practices. They are above-board. The people that work there are good folks, and the company itself is VERY well run.

You may not agree with their policy, but to have treated Gil the way you did in e-mail is deserving of an apology, in my opinion, and curiously enough I am not alone in this opinion either.

That is all I have to say on this issue.

 

You got that right!! If I was Gil I would not have been able to keep my cool at all. EEW, I guess you think every forum in the world should combine shipments. It's not done that way and if you persist in turning into a nutcase everytime you don't get your way then in the long run you will be the loser. Time to get into reality dude! If you think all companies should do as you say, you may be better served in opening up your own business. Good luck with that idea!!

 

If I were TTR, I would simply drop him and cancel his account. TTR has been more than patient and all this over $5 bc he bid in two auctions for small ticktet material. If you dont' like their policy don't bid.

 

Yes I sure do - You don't think USPS is free do you?

 

Of course they don't list all the best when they don't take a commission. But I know of no other internet auction site that will give up it's BP on any day. There are some great coins that do still come up on Tuesday, though.

 

Well as a business owner I can tell you that insurance companies can dictate operating procedures. As crazy as it sounds, I have to side with Teletrade on this. Lets say perhaps that the item gets lost in the mail..

Does the insurance company now have to replace ALL the coins because somebody wanted to save 5 bucks. or do they minimize their risk and say only coins from the same auction go in the same box thus minimizing their exposure. Also look at it from a logistical stand point. You have somebody crossing over and saying I bought something on Night A, then again on Night B, then I am looking at Night C, do you think that TT wants to keep sending out invoices waiting for the buyer to be happy with the shipping fees and pay?

I see where they are coming from.. What happens if the above buyer decides after 4-5 auctions that Na, never mind, buyers remorse now or I need to buy a new chicken coup and don't have the extra cash.. Also, TT has to pay the sellers for the coins, how long do you think the sellers should wait until they get payment? I see no fight on your behalf here the more I think about it. Perhaps the insurance company did not dictate this particular rule, perhaps its a TT rule, Perhaps they like 99% of the businesses out there are having cash flow issues and they can't fund overlapping auction payments.

If I was on a jury with this one.. You lose.. NO SOUP for you.. : )

 

This should act as good insight into to some of the unreasonable Buyer expectations Seller's are confronted with today . Total nonsense .

 

Finally! Someone with first hand knowledge. Thank you Todd! You basically have confirmed what I guessed might be the problem. After an auction, they have a ton of coins to keep organized. When someone asks for a combined shipment, they have to stop their assembly/production line and handle that one item and combine it with another. It messes them up and increases the risk of a problem

I mostly certainly did. Could you cut and paste where they say all items from each auction are shipped separately or they do not combine invoices/shipments.

Could you cut and paste where they say all items from each auction are shipped separately or they do not combine invoices/shipments?.

I think you are ignorant too for saying that. with out backing it up. However I could be blind and totally missed it ...But hey Mr. Smarty Pants..... Could you cut and paste where they say all items from each auction are shipped separately or they do not combine invoices/shipments.

I mentioned it already once, I have a round number on one invoice of $250 BP I can't for the life... figure out how they came up with it. Stupid me still went back and bought more stuff just asking for them to stick it to me !

I am a victim of my environment. My customers taught me that if you don't complain it won't get any better. Combining invoices into one shipment for the little widgets I buy will bring me back for more.

They have a separate line item for shipping insurance that they charge for.

Pretty sure that they charge the buyer for insurance and then collect the USPS claim.

They send email reminders over and over - I replied to each one asking for a combined invoice - it wasn't until I got nasty, that they actually replied. It's a shame that companies reinforce poor behavior to get results.

Really? unreasonable? Really? Guess you don't buy much stuff. Most vendors are thrilled for the repeat business and do what they can to encourage more repeat purchases. This is not true due to some type idiosyncrasy within TT and or coin operations - more than likely related to handling of coins within their operation. Just guessing.

 

I think they also tax the shipping for us Californians.....

 

Auction Terms • TeletradeDirect® Terms

Auction Terms
Effective May 22, 2008

1. AUCTION BASICS. This is a public auction sale ("Auction Sale") conducted by Teletrade, Inc. (hereinafter referred to as "Auctioneer" and at times as "Teletrade"). Bidding in this Auction Sale constitutes acceptance by Bidder of all the Terms and Conditions of Sale stated herein. Bidders may include consignors and their agents who may bid and purchase lot(s) in the Auction Sale consigned by the consignor or by other consignors pursuant to their consignment agreements with Teletrade ("Consignor" or "Consignors"). Consignors that bid on their own lots in the Auction Sale may pay a different fee than the buyer's fee charged to all other buyers, and may receive a rebate commission in whole or part if successful.

Teletrade reserves the right to include in any auction sale its own material as well as material from affiliated or related companies, principals, officers or employees. Teletrade may have direct or indirect interests in any of the lots in the auction and may collect commissions. THE TWO PRECEDING SENTENCES SHALL BE DEEMED A PART OF THE DESCRIPTION OF ALL LOTS CONTAINED IN THE CATALOGUE. Where the Consignor has re-purchased a lot and the lot is either returned to the Consignor or otherwise dealt with or disposed of in accordance with the Consignor's direction, or pursuant to contractual agreement, Teletrade reserves the right to so note in the prices realized or to omit a price from the price realized. Lot(s) may carry a Reserve. A Reserve is a confidential price or bid below which the Auctioneer will not sell an item or will re-purchase it on behalf of the Consignor or for Teletrade.

2. DESCRIPTIONS AND GRADING. Bidder acknowledges that all grading of coins in this Auction have been determined by independent grading services and not by Teletrade. Grading of rare coins is subjective and may differ among independent grading services and among numismatists, even though grading has a material effect on the value of the coins. Teletrade is not responsible for the grades assigned, and makes no warranty or representation regarding such grades. Bidder further acknowledges and agrees that lot descriptions are based solely upon an examination of the coins and are intended to note any perceived special characteristics. The absence of a comment ordinarily means that the examining numismatist perceived the coin to be average in strike, luster and number of marks for the grade. However, coin grading and perception are subjective. Therefore, Teletrade offers a "no questions asked" return privilege as set forth in these Terms and Conditions of Sale. Teletrade does not warrant the accuracy of such descriptions. Bidder's sole remedy for any claim of inaccuracy is Teletrade's return privilege contained herein. All photographs posted on Teletrade's website ("Website") are of the actual items being sold but may not be the actual size or to scale. Teletrade reserves the right in its sole or absolute discretion to refuse or reject any bid or a bid from any specific bidder.

3. THE BIDDING PROCESS. The Auctioneer may open or accept the bidding on any lot by placing a bid on behalf of the Consignor or his or her agent; a Bidder by mail, telephone, internet or telefax; or any other participant in the Auction Sale. The Auctioneer may accept or decline any bid, challenge to any bid or bidding increment, as the Auctioneer in its sole discretion shall determine. Bids are entered when they are confirmed and thereafter may not be withdrawn or altered. Bidding may be done in random sequence and telephone bidders may call repeatedly. However, Teletrade reserves the right to: limit the number of inquiries during any one call; limit the number of calls a participant may make in any one auction; and limit access to the system. Bidder acknowledges that the system is programmed to provide more inquiry time to active bidders. Bids must be for an entire lot and each lot constitutes a separate sale. No lot will be broken up unless otherwise permitted by the Auctioneer. Bids must be made in standard bidding increments as set forth on the Website for the subject sale. All material shall be sold in separate lots to the highest Bidder as determined by the Auctioneer. Auctioneer shall have the right in its sole and absolute discretion to adjudicate all bidding disputes and shall have the right, but not the obligation, to rescind the acceptance of any bid and place the lot(s) for Auction Sale again. Auctioneer's decision on all bidding disputes shall be binding and final. Auctioneer reserves the right to reduce any bid received to conform to standard bidding increments, to open the bidding of a lot at any level deemed appropriate by the Auctioneer and to determine the prevailing bid, at its sole discretion. THIS IS NOT AN APPROVAL SALE. Therefore, except as otherwise provided in these Terms and Conditions of Sale, NO LOT MAY BE RETURNED THAT IS PURCHASED BY A BIDDER WHO HAS HAD AN OPPORTUNITY TO VIEW THE Lot

IF you read the Terms & Conditions above, you will see that each lot is considered a " separate Sale "

 

I'm not even going to attempt to convince you that you were just plain WRONG and your RANT with that representative of Teletrade was totally irrational .

If I were you, I would be composing a humbling letter of apology to that gentleman , and just as you posted this " Rant " , post that apology here as well .