What a loss of money.

http://www.ebay.com/itm/US-Coin-Col...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

No description, "everything you see is included". Bags hiding coins, etc.

Why not take the time to break it up into smaller lots? Seems REALLY dumb to sell it in such a large lot.

 

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Ah, THAT seller. He actually posted here a while back when he started doing these giant listings. Most of them end up not meeting their reserve -- how could they, when he doesn't provide enough information to valuate the lot within even a factor of two or three?

I don't know -- maybe he's hoping he'll hit the jackpot with someone foolish enough to risk five figures on an inadequately-described lot that could be worth much less. He certainly seems to be keeping at it. (I'm on the iPad, and it's not convenient to go trawling through his feedback and closed auctions.)

 

There is no currency more valuable
than time. It's also the one asset that you
have more of than most people on CT.
But you keep wasting it on stuff like that.

 

No, Tim... what is REALLY dumb is to make the same assumptions over and over again.

With just a quick scan of the photos, from what I see, I absolutely understand why one would sell as a lot; loads and loads of common junk that would almost certainly be too time consuming and a PITA to sell as you suggest. With that said, I also think it very safe to say that beyond the above, the main reason this person is offering this way is because he is hoping to snag someone like you, but with money, who thinks this some great deal, could part it out, and make a killing. Without knowing all of what is truly there, I cannot prove this, but chances are good that if one were to break down this entire lot, and even at full retail book pricing, any buyer willing to pay his reserve would almost certainly still be overpaying. If there is nothing to hide, there is no reason not to give a complete breakdown of all in the lot.


If you can so easily see the newspaper "scam", why are you unable to see a likely ebay turkey when right in front of your face?

 

The seller might have a good chance at hooking n older more affluent person who is contemplating retirement and has very good memories of coin collecting when he/she was young. Probably figure that it would be cheap entertainment and jump start a new collection. Money? Many people put self fulfillment ahead of it, especially if they have it to literally burn.

 

It would've been too hard to:

1. Take everything out of the bags.
2. Weigh all the silver items, and give the silver weight.

????

The above two items would of taken less than 20 minutes to do, and could of gotten the seller THOUSANDS more.

Time is money.

Another thing, not everyone has over 9 grand they can just dole out for something on this.

I bet you could count less than 10 people on CT who would drop over 9 like that.

If he would of split it up into $2,000 lots or so, he would've gotten more out of it. Why? Because more people have less money, and that would've resulted in a higher total.

To say "too time consuming" to take 20 minutes to make a better listing, which would have netted the seller thousands more, is hogwash.

Here is another listing:
http://www.ebay.com/itm/US-Gold-Coi...40?pt=Coins_US_Individual&hash=item1c341d036c

Again, who has $65,000 they can drop like a pin? Yes, there are many well-to-do coin buyers, but I'm talking about the general public.

 

Many more than that COULD, but zero WOULD. TC

 

Tim, not to threadjack, but could you please try to remember to say "would have" instead of "would of"?

 

Whole or in $2k lots, you're still assuming there is good value here; I promise you, there isn't, no matter how it is broken up, but go right ahead with believing whatever you want too.

Do you not grasp the concept of what this really is? There is VERY good reason why the seller did not disclose the actual silver content of the lot, just as there is very good reason why the lot includes silver; he is sweetening, plain and simple.

It seems that this ebay turkey reeled in a little fish.

 

lol

 

that dealer is big coin and stamp dealer, he doesn't have time to break it down and sell it in pieces, he buys collections and selling it as it comes in.

 

If a dealer is trying to sell "collections" that large without providing photos that will let you at least count the coins, he's really not very good at his job. If I thought that was what was really happening -- that these were honest bulk lots, posted and sold as they came in, without being searched, and without being arranged to look more valuable than they really are -- I'd probably be in there bidding myself.

 

i have looked at his lots before, many are collections.

 

Storage Wars comes to mind, Too sad to risk it............

 

But he might have spent hours going through this "collection" cherry picking.

If he spent 8 hours removing the valuable items, and threw up the common stuff for auction, he could be way ahead.

I see stacks of 1970s mint sets and clad proof sets, common silver certificates, junk silver, bags of (probably) dealer junk bin coins. Where do you see more than $10,000 worth of coins in this lot?

 

I don't see anything valuable in there either, personally I think this is a typical collection that many people have, they may have paid alot to obtain the coins, but when it comes to selling it, it's junk to most dealers. probably most of it going for melt value.

 

if i had the money to burn id do it just to look threw it seems fun the winner might think the same way

 

Its actually simpler than everyone is trying to figure out. He is generating a mailing list and trying to figure out who and if there some new players out there that might actually go for a lot like that . go ahead and risk a Non payment. dont worry he wont make you pay.. but I think you have to enter 100k or something crazy to meet the reserve.

I want or seem to remember he also contacts the top bidders with second chance offers. yeah I am pretty sure

 

well it says he paid 20,000

 

No it just says "Cost 20,000".

Perhaps that is the price the original owner paid for it , at retail, and he bought it wholesale, perhaps for what some of us would offer for it, much , much less.