Bogus auction?

[prudden]

Hey all,

 

I came across this auction today.I actually won it tonight.Didn't have a lot of time to get answers. If you look at the link you won't wonder why I think it is probably bogus. Now,how do I find out for sure before I pay.

I did find the same coin using the same pictures at an icollector auction that ended June 30th and did NOT sell. I also found it at a couple of old Heritage auction and it sold in the $10K range. I'm petty sure it's bogus,and if so I won't have to pay,but it would be nice if it is real. Here's the link.

 

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290452571940&ssPageName=STRK:MEWNX:IT

[bsshog40]

It's a tough call. Seller hasn't sold anything since 04'. Good luck!

[physics-fan3.14]

I am highly skeptical, and the auction raises numerous red flags. That being said, I can't tell if the coin is the same or not just from the pictures. Here is the Heritage auction for comparison:

 

http://coins.ha.com/common/view_item.php?Sale_No=388&Lot_No=2341

 

One of the biggest things I'm concerned with (besides the very low feedback number), is that the account hasn't been used for 4 years - and all of a sudden he shows up to sell a $10k coin. Sounds like a hijacked account to me. I would contact Ebay about this one.

[prudden]

I checked the NGC serial # against one of the heritage auctions and he icollector site and it matches.But that means nothing really because the pictures were lifted from the Icollector auction here:

 

http://www.icollector.com/1892-Morgan-Dollar-Coin-Proof-67-Cameo_i9598662

 

Most likely a bogus auction.Besidesw the fact it sold too cheap.I won't pay unless he gives me some proof. what's good enough to accept?Phone number?Address could be faked.I'll e-mail Ebay now.

 

[MarkFeld]

I think odds are excellent that it is a hijacked account and that the coin will never be delivered. I would not risk the money.

 

I would suggest contacting the seller and offering them $200 (or thereabouts) extra to use a well known national dealer as an intermediary, to whom you would send the money and the seller would send the coin, etc. My bet is that they say no, and you can guess why.

[prudden]

Good idea Mark.I have no clue who to use for that.I was planning on using Paypal with a CC.I have someone who will probably finance at least half the price though.He's already said so.To tell the truth,I only got in the auction to flip the coin if I could.When I started it had two bids and high bid was 2375 I think. If it's real,I should easily get double the $4100.00 winning bid don't you think?I am 90% sure it's not gonna happen. I asked the seller for his phone number.Nothing yet.

[MarkFeld]

Good idea Mark.I have no clue who to use for that.I was planning on using Paypal with a CC.I have someone who will probably finance at least half the price though.He's already said so.To tell the truth,I only got in the auction to flip the coin if I could.When I started it had two bids and high bid was 2375 I think. If it's real,I should easily get double the $4100.00 winning bid don't you think?I am 90% sure it's not gonna happen. I asked the seller for his phone number.Nothing yet.

There are a number of large well known dealers that he shoudl be OK with if he is legitimate, which I doubt he is.

 

For the phone number, as a bidder (and in this case a winning one) you should be able to get that through the Ebay system - try this link

 

Please don't get your hopes up - I think your chances of success are less than 1 in 100. And please be careful.

[michael]

i think your chances are zero

 

 

PLEASE!! PROVE ME WRONG!!!!!!!

[prudden]

Good idea Mark.I have no clue who to use for that.I was planning on using Paypal with a CC.I have someone who will probably finance at least half the price though.He's already said so.To tell the truth,I only got in the auction to flip the coin if I could.When I started it had two bids and high bid was 2375 I think. If it's real,I should easily get double the $4100.00 winning bid don't you think?I am 90% sure it's not gonna happen. I asked the seller for his phone number.Nothing yet.

There are a number of large well known dealers that he shoudl be OK with if he is legitimate, which I doubt he is.

 

For the phone number, as a bidder (and in this case a winning one) you should be able to get that through the Ebay system - try this link

 

Please don't get your hopes up - I think your chances of success are less than 1 in 100. And please be careful.

 

Thanks for your concern Mark.I have no intention of paying for this coin until I'm satisfied he is the owner and has it in hand.I'm very doubtful as well.I have been since I came across the listing. This kind 0f money is never "left on the table" as the saying goes. I mean you can still get a $300 coin for $30 once in a while .And maybe you can come across a $10k coin for less than half if you are a certain kind of dealer.

[prudden]

i think your chances are zero

 

 

PLEASE!! PROVE ME WRONG!!!!!!!

 

Believe me,I'd love to do just that!!Thanks

[mtnstyne]

It's been removed from eBay so I am guessing it did not turn out well.

[prudden]

It's been removed from eBay so I am guessing it did not turn out well.

 

Well,it turned out like it should.I'm glad Ebay caught it before I paid anything. I tried to get in touch with the seller and couldn't.then,I didn't get an invoice so I pretty much knew 100% by then it was bogus. It was worth a shot.This is part of Ebay's cancellation e-mail:

 

"We removed the listing and canceled your bid because it appears that the seller's account was used by someone without the seller's permission. The seller's selling privileges might be temporarily suspended while we investigate. Because of privacy concerns, we can't share more details.

 

We canceled this listing to protect you and the member whose account was used without permission. Here's what you can do right now:"

[HiHoAudio]

Just goes to show that if something seems too good to be true it usually is.

 

At least it's a comfort to see that eBay is policing their auctions.

[Mark T]

Just goes to show that if something seems too good to be true it usually is.

 

At least it's a comfort to see that eBay is policing their auctions.

 

Ebay does a lousy job monitoring their auctions .

Most bogus listings are removed because people report them to EBAY.

If EBAy was doing their job these type of auctions would not be listed in the first place.

 

[prudden]

Just goes to show that if something seems too good to be true it usually is.

 

At least it's a comfort to see that eBay is policing their auctions.

 

Ebay does a lousy job monitoring their auctions .

Most bogus listings are removed because people report them to EBAY.

If EBAy was doing their job these type of auctions would not be listed in the first place.

 

True.this auction ran for several days all the way to the end.I came in on the last few hours and it only had two or three bids until I started bidding.I didn't get the chance to complain or inquire so luckily for me someone else must have?

I posted over here about it because these guys rarely miss a trick when it comes to coin scams among other things. On one hand,It is kind of tough to blame Ebay considering at any one time there are over thirty thousand Morgans alone listed at their site and almost a half a million U.S coins listed right now. On the other hand, they have decided to run these auctions and are making alot of money at it,so they should be trying harder to catch them before the end.

[Mark T]

Just goes to show that if something seems too good to be true it usually is.

 

At least it's a comfort to see that eBay is policing their auctions.

 

Ebay does a lousy job monitoring their auctions .

Most bogus listings are removed because people report them to EBAY.

If EBAy was doing their job these type of auctions would not be listed in the first place.

 

True.this auction ran for several days all the way to the end.I came in on the last few hours and it only had two or three bids until I started bidding.I didn't get the chance to complain or inquire so luckily for me someone else must have?

I posted over here about it because these guys rarely miss a trick when it comes to coin scams among other things. On one hand,It is kind of tough to blame Ebay considering at any one time there are over thirty thousand Morgans alone listed at their site and almost a half a million U.S coins listed right now. On the other hand, they have decided to run these auctions and are making alot of money at it,so they should be trying harder to catch them before the end.

 

 

Ebay is fully responsible for their listings. They do not have the resources to deal with the fraud because they wont spend the money to hire enough people to do it properly.

 

 

[prudden]

Just goes to show that if something seems too good to be true it usually is.

 

At least it's a comfort to see that eBay is policing their auctions.

 

Ebay does a lousy job monitoring their auctions .

Most bogus listings are removed because people report them to EBAY.

If EBAy was doing their job these type of auctions would not be listed in the first place.

 

True.this auction ran for several days all the way to the end.I came in on the last few hours and it only had two or three bids until I started bidding.I didn't get the chance to complain or inquire so luckily for me someone else must have?

I posted over here about it because these guys rarely miss a trick when it comes to coin scams among other things. On one hand,It is kind of tough to blame Ebay considering at any one time there are over thirty thousand Morgans alone listed at their site and almost a half a million U.S coins listed right now. On the other hand, they have decided to run these auctions and are making alot of money at it,so they should be trying harder to catch them before the end.

 

 

Ebay is fully responsible for their listings. They do not have the resources to deal with the fraud because they wont spend the money to hire enough people to do it properly.

 

 

I hope you noticed I come don't let either side off the hook..But I spread the blame to ebay and the frauds.If you are careful you can't really get hurt in this type of auction. And, either Ebay has the resources or they don't.Money is a resource and clearly they have plenty of that.

[Conder101]

I suppose they could hire enough people to do it. It was take about 130 people doing nothing but reviewing the coin auctions and it would cost about $1 per auction to do so. This assumes they can read and review one auction per minute eight hours a day. Now of course if they do this for coins they are going to eventually have to do it for all the other collectible fields as well.

[prudden]

I suppose they could hire enough people to do it. It was take about 130 people doing nothing but reviewing the coin auctions and it would cost about $1 per auction to do so. This assumes they can read and review one auction per minute eight hours a day. Now of course if they do this for coins they are going to eventually have to do it for all the other collectible fields as well.

 

That's about the size of it. And then,wouldn't you need people who have at least some knowledge of the subject they are reviewing?Not just coins. I just can't see it happening. It will stay like it is unless something big forces them to fix the problem.