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#1
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Teletrade unethical policys
I have been a buyer on Teletrade for years, and rarely win anything. In
fact most of the coins I lost were outbidded by just one increment. This is so suspicious that I read Teletrades terms of service and find out that consignors are allowed to bid, and the only penalty is if they bidded during the auction, they have to pay both buyers and sellers fees. I don't know about you guys, but this companys policies seem deeply deeply disturbing, if not illegal. I have had some success with their auctions, but I hate how coins that I'm bidding on or watching suddenly "disappear," only to be re-listed over and over again. I see coins that amaze me with the strong bids they are getting, only to come back to the prices realized and it's the same old song. Coin is back in the next auction with no bids. It is the ultimate shill in my opinion and needs to be reported to the authorities. Someone could really pay too much for a coin if they don't understand this: that they actually may be the only bidder for a particular lot, bidding away as the seller bids them up. |
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#2
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Teletrade unethical policys
"William Youngworth" wrote in message ... I have been a buyer on Teletrade for years, and rarely win anything. In fact most of the coins I lost were outbidded by just one increment. This is so suspicious that I read Teletrades terms of service and find out that consignors are allowed to bid, and the only penalty is if they bidded during the auction, they have to pay both buyers and sellers fees. I don't know about you guys, but this companys policies seem deeply deeply disturbing, if not illegal. I have had some success with their auctions, but I hate how coins that I'm bidding on or watching suddenly "disappear," only to be re-listed over and over again. I see coins that amaze me with the strong bids they are getting, only to come back to the prices realized and it's the same old song. Coin is back in the next auction with no bids. It is the ultimate shill in my opinion and needs to be reported to the authorities. Someone could really pay too much for a coin if they don't understand this: that they actually may be the only bidder for a particular lot, bidding away as the seller bids them up. Never having dealt with Teletrade myself, I do agree that the process you describe does sound fishy and frustrating. But if their rules clearly permit "shill" bidding, that's what you'll just have to live with as long as you choose to continue frequenting Teletrade. If you rarely win anything anyway, maybe it's not worth the apparent grief to continue bidding there. |
#3
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Teletrade unethical policys
"Bremick" wrote in :
Never having dealt with Teletrade myself, I do agree that the process you describe does sound fishy and frustrating. But if their rules clearly permit "shill" bidding, that's what you'll just have to live with as long as you choose to continue frequenting Teletrade. If you rarely win anything anyway, maybe it's not worth the apparent grief to continue bidding there. Getting an interested party into a bidding frenzy by pretending to be another bidder that shares their enthusiasm in that particular lot. Is there a difference to you, if teletrade bids up to a fictitious market value of a coin, or if the seller/friend/sister's cousin's brother does? Is it not a shill regardless of teletrade's policies? I fail to see the difference, and saying I should "just live with it" doesnt doesn't really factor in here when we are talking about a crime. |
#4
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Teletrade unethical policys
"William Youngworth" wrote in message ... "Bremick" wrote in : Never having dealt with Teletrade myself, I do agree that the process you describe does sound fishy and frustrating. But if their rules clearly permit "shill" bidding, that's what you'll just have to live with as long as you choose to continue frequenting Teletrade. If you rarely win anything anyway, maybe it's not worth the apparent grief to continue bidding there. Getting an interested party into a bidding frenzy by pretending to be another bidder that shares their enthusiasm in that particular lot. Is there a difference to you, if teletrade bids up to a fictitious market value of a coin, or if the seller/friend/sister's cousin's brother does? Is it not a shill regardless of teletrade's policies? I fail to see the difference, and saying I should "just live with it" doesnt doesn't really factor in here when we are talking about a crime. What crime? You know their rules and you bid anyway! Stop whining. |
#5
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Teletrade unethical policys
"William Youngworth" wrote in message ... "Bremick" wrote in : Never having dealt with Teletrade myself, I do agree that the process you describe does sound fishy and frustrating. But if their rules clearly permit "shill" bidding, that's what you'll just have to live with as long as you choose to continue frequenting Teletrade. If you rarely win anything anyway, maybe it's not worth the apparent grief to continue bidding there. Getting an interested party into a bidding frenzy by pretending to be another bidder that shares their enthusiasm in that particular lot. Is there a difference to you, if teletrade bids up to a fictitious market value of a coin, or if the seller/friend/sister's cousin's brother does? Is it not a shill regardless of teletrade's policies? I fail to see the difference, and saying I should "just live with it" doesnt doesn't really factor in here when we are talking about a crime. So some sellers consistently are willing to offer their coins on Teletrade and then jack the bids above market value knowing they will likely be paying both buyer and seller fees without a sale? How many times are they likely doing this before realizing they're losing a bundle. If true, sounds like a wacky auction venue to me. Yet you still play there? I don't see any "crime" here, but it you do, RCC isn't the place to complain. |
#6
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Teletrade unethical policys
In article , William Youngworth wrote:
I have been a buyer on Teletrade for years, and rarely win anything. In fact most of the coins I lost were outbidded by just one increment. This is so suspicious that I read Teletrades terms of service and find out that consignors are allowed to bid, and the only penalty is if they bidded during the auction, they have to pay both buyers and sellers fees. I don't know about you guys, but this companys policies seem deeply deeply disturbing, if not illegal. I have had some success with their auctions, but I hate how coins that I'm bidding on or watching suddenly "disappear," only to be re-listed over and over again. I see coins that amaze me with the strong bids they are getting, only to come back to the prices realized and it's the same old song. Coin is back in the next auction with no bids. It is the ultimate shill in my opinion and needs to be reported to the authorities. Someone could really pay too much for a coin if they don't understand this: that they actually may be the only bidder for a particular lot, bidding away as the seller bids them up. how do you protect the stupid from themselves? |
#7
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Teletrade unethical policys
wrote in message ... In article , William Youngworth wrote: I have been a buyer on Teletrade for years, and rarely win anything. In fact most of the coins I lost were outbidded by just one increment. This is so suspicious that I read Teletrades terms of service and find out that consignors are allowed to bid, and the only penalty is if they bidded during the auction, they have to pay both buyers and sellers fees. I don't know about you guys, but this companys policies seem deeply deeply disturbing, if not illegal. I have had some success with their auctions, but I hate how coins that I'm bidding on or watching suddenly "disappear," only to be re-listed over and over again. I see coins that amaze me with the strong bids they are getting, only to come back to the prices realized and it's the same old song. Coin is back in the next auction with no bids. It is the ultimate shill in my opinion and needs to be reported to the authorities. Someone could really pay too much for a coin if they don't understand this: that they actually may be the only bidder for a particular lot, bidding away as the seller bids them up. how do you protect the stupid from themselves? Birth control is the only guaranteed method. |
#8
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Teletrade unethical policys
On Aug 19, 3:06*pm, William Youngworth
wrote: I have been a buyer on Teletrade for years, and rarely win anything. *In fact most of the coins I lost were outbidded by just one increment. *This is so suspicious that I read Teletrades terms of service and find out that consignors are allowed to bid, and the only penalty is if they bidded during the auction, they have to pay both buyers and sellers fees. I don't know about you guys, but this companys policies seem deeply deeply disturbing, if not illegal. *I have had some success with their auctions, but I hate how coins that I'm bidding on or watching suddenly "disappear," only to be re-listed over and over again. I see coins that amaze me with the strong bids they are getting, only to come back to the prices realized and it's the same old song. Coin is back in the next auction with no bids.. It is the ultimate shill in my opinion and needs to be reported to the authorities. Someone could really pay too much for a coin if they don't understand this: that they actually may be the only bidder for a particular lot, bidding away as the seller bids them up. Several years ago I used to bid at Teletrade quite often and won many nice coins there, until I discovered their policy of allowing sellers to bid on their own auctions. I contacted someone at customer service and expressed my displeasure at this policy and ended up in an argument that lasted several e-mail exchanges. I was concerned that their policy amounted to shill bidding and their response was the same that you got....the double fees charged to the seller would reduce the chances. My response was to stop shopping at Teletrade. However, it seems they have changed the policy and it cannot result in the bidding war with the seller as you claim. In my day the seller was allowed a "buyback bid" placed at least 1 hour before the auction that amounted to a reserve. Failing to place the buyback bid a seller could place one bid during the course of the auction. Today (I just read their policies) the buyback bid still exists, but sellers are not allowed to place a bid during the auction. |
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