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Message:: [QUOTE="Leadfoot, post: 560723, member: 2972"]TELETRADE reserve system will automatically increase the bid of a coin without anybody bidding for it.  Although it looks like there is someone bidding, it is the "system" increasing the bid to the reserve, then if some sucker comes along and bids, whammo, you're stuck with a very overpriced coin.  BE VERY CAREFUL PURCHASING COINS FROM TELETRADE. These reserves come in two flavors, as best I can tell.  First, is for coins owned by Teletrade themselves.  Their system automatically increments the bid to the internal reserve.  Second, owners/consignors are allowed to place bids on their own coins.  Anyplace else this would be called shilling.  At Teletrade it's a "buyback".  Shady practices at best, IMO. Now what will likely happen with that coin is that it will end up going "NOT SOLD", despite the "bidding" activity you noted.  It will appear in auction again, likely with a lower reserve, until some collector/sucker purchases it.  It is funny to watch coins be "auctioned" over and over again until they stick. All of the above is my opinion only based on watching TT auctions for five years....Mike EDITED TO ADD: looking at the auction, that's exactly what happened -- the coin is now listed as "NOT SOLD", despite the bidding activity noted.  SHADY!!!!!!!!!![/QUOTE]