Crazy TeleTrade prices: are sellers shilling or just out of touch?

[CarlWohlforth]

Why oh why would an AU Lincoln cent be bid it $190? http://www.teletrade.com/coins/lot.asp?auction=2850&lot=1324. It can't really be bid at that price can it? For a bid to reach a price doesn't that mean there must be a bidder at that price *AND* also an under bidder at one increment lower?

[Bubblehead]

Why oh why would an AU Lincoln cent be bid it $190? http://www.teletrade.com/coins/lot.asp?auction=2850&lot=1324. It can't really be bid at that price can it? For a bid to reach a price doesn't that mean there must be a bidder at that price *AND* also an under bidder at one increment lower?

 

Oh my...  My, oh my...  Why would anyone even bother to have this Lincoln certified?  Perhaps it was a special coin to
someone?  Someones grandfather gave it to his favored grandson on his birthday, and because of this special
provenance, it was certified to forever preserve it?  Yup!  And now, grandpa's dead, so the coins can all be sold...

Maybe, huh??
 

[CarlWohlforth]

Another crazy one: http://www.teletrade.com/coins/lot.asp?auction=2850&lot=1240

I know if a seller sets an unrealistic reserve price the coin doesn't sell. In that case when you go check your "tracked" lot list the coin isn't there anymore. Right?

So if the coin is there but there is a huge price does that mean two bidders were involved? Or maybe one of the bidders is TeleTrade's phantom bidder, the one that bids you up to your max bid.... I am looking for confirmation on this one.

If TT has phantom bidders isn't that exactly like shill bidding? Maybe not against the law but not ethical right? Or do you think there really were two serious bidders in the lots I listed ?

[Bubblehead]

Another crazy one: http://www.teletrade.com/coins/lot.asp?auction=2850&lot=1240
If TT has phantom bidders isn't that exactly like shill bidding? Maybe not against the law but not ethical right? Or do you think there really were two serious bidders in the lots I listed ?

I cannot say, with any certainty, whether or not TT uses phantom bidding.  I thought that somewhere I read
something that confirmed that consignors are able to bid their own auctions?  I can say that I have won
many TT auctions at less than my max bid... I have bid coins as early as 3-4 auctions in advance.

    

[19Lyds]

Another crazy one: http://www.teletrade.com/coins/lot.asp?auction=2850&lot=1240
If TT has phantom bidders isn't that exactly like shill bidding? Maybe not against the law but not ethical right? Or do you think there really were two serious bidders in the lots I listed ?

I cannot say, with any certainty, whether or not TT uses phantom bidding.  I thought that somewhere I read
something that confirmed that consignors are able to bid their own auctions?  I can say that I have won
many TT auctions at less than my max bid... I have bid coins as early as 3-4 auctions in advance.

    

I too cannot say this with certsainty but..........the facts are that certain coins start at a set price and then increment up in bids without ever being sold. Some at rediculous amounts. Now I do realize that folks may be bidding but when the prices exceed expected levels, yet continue to rise, and still not sell, to me, that screams phantom bidding upto but not over th sellers reserve so that the next bid ................... takes home the coin.

[Bubblehead]

 

I suggest that one of us, perhaps Carl?,  submit consignment coins.  Once
they have listed, Carl can then inform us of his provisions, etc., and perhaps that way, we
may be able to make a palatable conclusion?     Surely no one associated with TT would
ever stumble here, and so.... ??

Just sayin'