What's with Teletrade Posting the Same Coin Weeks Apart that Was Already Won?

[astrostu]

Is it because of returns? I've been watching some auctions, and I found a 1901 Liberty MS-62 quarter eagle that intrigued me. But I wanted to see how it compared to other coins of its grade so I looked at past auctions. I found the exact same coin that had been won before (same SN on the NGC slab). I didn't think much of it. But just tonight, I found the SAME coin up for auction next Monday even though a coin with the same SN was already won last November.

 

Then there's a 1916 beautifully toned Mercury dime up on Wednesday that I swear was up for auction a few weeks ago, but I can't find the old listing.

 

And then there's a 1938 Jefferson nickel that I was looking at, but I wanted to compare the toning of it with others of that year, so I clicked on an older auction from just 2 months ago and it's the exact same coin (same slab SN).

 

Anyone know why this is? Is it due to returns? Are they reusing pictures accidentally (since for all but that quarter eagle the photos are identical)? Something else going on?

[Schatzy]

Relist your coins and currency in up to two additional auctions for free! At the time of consigning your coins/currency, select "Yes" to the Guaranteed Sold Program. In the event they do not sell the first time round, we will relist your coins/currency in up to two of our next available auctions for no additional unsold fees. If your coins/currency sell in one of these additional auctions, you will only pay a seller's fee.

 

Teletrade does not enter minimums or reserves on behalf of consignors. Consignors are permitted to bid on their own coins, but they must do so by placing Buyback bids no later than one hour before the auction begins (see "Maximum Bidding" instructions on how to enter Buyback Bids). Consignors will be charged a flat 5% fee (minimum $5) on their full Buyback bid on any lots bought back in this manner. The maximum fee for any Buyback lot is $100.

 

All coins/notes that are returned to the consignor after not selling, whether it be after one, two or three auctions will be assessed the following charge based on how many lots are returned. This charge includes shipping and postal insurance.

[MarkFeld]

Relist your coins and currency in up to two additional auctions for free! At the time of consigning your coins/currency, select "Yes" to the Guaranteed Sold Program. In the event they do not sell the first time round, we will relist your coins/currency in up to two of our next available auctions for no additional unsold fees. If your coins/currency sell in one of these additional auctions, you will only pay a seller's fee.

 

Teletrade does not enter minimums or reserves on behalf of consignors. Consignors are permitted to bid on their own coins, but they must do so by placing Buyback bids no later than one hour before the auction begins (see "Maximum Bidding" instructions on how to enter Buyback Bids). Consignors will be charged a flat 5% fee (minimum $5) on their full Buyback bid on any lots bought back in this manner. The maximum fee for any Buyback lot is $100.

 

All coins/notes that are returned to the consignor after not selling, whether it be after one, two or three auctions will be assessed the following charge based on how many lots are returned. This charge includes shipping and postal insurance.

But I think an important question is whether the lots in question showed as having sold or not. If not, I see no problems with the re-listings. But if so, at best, the circumstances seems misleading.

[okbustchaser]

If they showed up as sold then they are either returns or a buyer churning them back after he couldn't flip for a profit on Ebay. Any coins which don't meet the seller buyback disappear from the past listings and are relisted in a later one.

[MikeInFL]

Because the coins never actually "sold". They either:

 

(a) were returned -or-

(b) never met the reserve/buyback

 

This is, IMO, one of the more questionable and misleading business practices by Teletrade...Mike

 

[astrostu]

Okay, well I guess the rainbow Merc. didn't meet the seller's "reserve." The other two ... I guess were returned because it's very clear from their "price history" that these coins were sold before for a given price - they were not removed.

 

Doesn't make me want to bid on them now ..

[Houston Investor]

I would speculate that either the coins did not sell in the prior auction or were returned.