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Teletrade -- did they finally fold?

Started by brg5658,

33 posts in this topic

brg5658

brg5658

Posted
Posted

I just noticed today that Teletrade doesn't have any items currently up on their usual weekly auction. Maybe they are just taking the week off? Or did the new policies they put in place for the past 1-2 years finally put them out of business? ;)

 

I almost never check their site anymore, but was sort of surprised when I just got this today:

 

143437.jpg.25d846a0a03240fe0c1e77aba5daddaa.jpg

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brg5658

brg5658

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It has been reported ATS for a couple of weeks that they are indeed done. Someone said that Stacks will start weekly auctions in the next couple of weeks.

 

Well, I think the writing was on the wall...

 

Auctions that start at full-retail + prices, and almost all of their coins being unattractive and low end for the grade.

 

I just hadn't seen an official announcement anywhere...was it posted here on NGC somewhere also? I was away for about a week over Thanksgiving.

 

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okbustchaser

okbustchaser

Posted
Posted

Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

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brg5658

brg5658

Posted
  • Author
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

That's sad....

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KeyMan64

KeyMan64

Posted
Posted
It has been reported ATS for a couple of weeks that they are indeed done. Someone said that Stacks will start weekly auctions in the next couple of weeks.

 

Well, I think the writing was on the wall...

 

Auctions that start at full-retail + prices, and almost all of their coins being unattractive and low end for the grade.

 

I just hadn't seen an official announcement anywhere...was it posted here on NGC somewhere also? I was away for about a week over Thanksgiving.

No official announcements, just collectors that have told of their conversations with Teletrade in the last few weeks.
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jom

jom

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

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brg5658

brg5658

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I've had good luck buying on TT before - but you had to wade through a lot of sub-par material to find the gems. I hate to see all that dreck bring down the quality of Stacks....

 

 

I purchased some nice coins on Teletrade before also -- but that was 2+ years ago before their "brain-child" of one auction per week. Ever since that change, and the bump in buyer's premiums, and the laughable auction start prices, in the past year I could go 3-4 months without even giving a glance to the site.

 

By the way, I think you've been reading too many of Laura Sperber's posts -- her favorite word "dreck" slipped into your post. ;)

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coinman1794

coinman1794

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

Stacks website is all but unusable, and I think Teletrade used better pictures than Stacks, in many cases.

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HCumberdale

HCumberdale

Posted
Posted

A new website for Stacks Bowers is rolling out in the very new future. As for Teletrade, it has been brought under the Stacks Bowers Galleries company and will be offering auctions starting late January.

 

The official announcement can be read here: http://stacksbowers.com/news/article.aspx?ID=252

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brg5658

brg5658

Posted
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A new website for Stacks Bowers is rolling out in the very new future. As for Teletrade, it has been brought under the Stacks Bowers Galleries company and will be offering auctions starting late January.

 

The official announcement can be read here: http://stacksbowers.com/news/article.aspx?ID=252

 

Are they going to change things up a little? I know I am not alone in my lack of excitement for the way Teletrade was doing business for the past 1-2 years. Are they going back to auctions with reasonable starting bids? I'd also like to see more world (non-USA) material, as the recent selection was just laughable, centered around mostly world bullion-type coinage, and WAY overpriced so-so (mostly unattractive) coins.

 

I think most of us can read between the lines that Teletrade was no longer successful in its current layout. It's nice to save face and say that it's being "brought under the Stacks Bowers Galleries" company name, but the reality is hard to escape.

 

I wish Stacks the best as they enter the "weekly auction" world. But, if it's just business as normal as Teletrade was (but with a new logo) I fear it won't be long before these weekly auctions go away all together. (shrug)

 

I hope to see something enticing about this new site that shakes things up a little. Please keep us posted! :)

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jom

jom

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

Stacks website is all but unusable, and I think Teletrade used better pictures than Stacks, in many cases.

 

You know...it wasn't the photos that bother me with Stack's, it's the useless interface. Someone actually needs to get their I.T. people to go use their own site for awhile then go use Heritage. Maybe they'll learn something...

 

jom

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L1ncolnF4n

L1ncolnF4n

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

We're counting down until the new site launches. The dreck is hopefully (mostly) not going to stay in those sales at all.

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e1cnr

e1cnr

Posted
Posted
A new website for Stacks Bowers is rolling out in the very new future. As for Teletrade, it has been brought under the Stacks Bowers Galleries company and will be offering auctions starting late January.

 

The official announcement can be read here: http://stacksbowers.com/news/article.aspx?ID=252

 

you linked a July press release, nothing about Stacks Bowers Weekly

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coinman_23885

coinman_23885

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

+1.

 

IMHO Stacks-Bowers will have problems remaining relevant if it doesn't address these issues. Heritage seems to have the upper hand on higher end auctions. Legend Morphy and Scottsmann don't help its cause too much either. The weekly auctions will also be threatened by Great Collections, which has been doing very well.

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Walkerfan

Walkerfan

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

+1.

 

IMHO Stacks-Bowers will have problems remaining relevant if it doesn't address these issues. Heritage seems to have the upper hand on higher end auctions. Legend Morphy and Scottsmann don't help its cause too much either. The weekly auctions will also be threatened by Great Collections, which has been doing very well.

 

Stacks-Bowers has very inaccurate and deceptive images. I only bought from them ONCE (it was a VERY expensive item) and it was one of the worst purchases that I ever made. I could have lost my on the resale but I was VERY LUCKY. I like Heritage much better.

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jpcienkus

jpcienkus

Posted
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I found it very interesting to see a Teletrade banner add at the top of the page this morning.

 

I agree with many of the comments about Teletrade and Stack's. I've bought one coin from each. I was pleased with the results at Stack's. Coin I won was very nice and I'm glad to have it. I'm also happy with the 1880-S VAM 11 MS66 Morgan I won at Teletrade earlier this year.

 

Af for navigation and auction archives, Heritage is the gold standard IMO.

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joes2001

joes2001

Posted
Posted

I never really looked in to Teletrade, but i'm glad i didn't. I pretty much stick to ebay for online purchasing and selling. What do you all think of ebay? I think it's around 12.9% in fees (ebay and paypal), but you have to admit it's quite easy to use, their feedback ratings help, and you can reach more to get the best price for some things. For example, I got these modern Russian mint sets for a few bucks each that no dealer around me cared about, but on ebay is sold one for 170 i think, the other for 80.

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$ilverHawk

$ilverHawk

Posted
Posted
A new website for Stacks Bowers is rolling out in the very new future. As for Teletrade, it has been brought under the Stacks Bowers Galleries company and will be offering auctions starting late January.

 

The official announcement can be read here: http://stacksbowers.com/news/article.aspx?ID=252

 

Bad link. No info.

 

Carl

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L1ncolnF4n

L1ncolnF4n

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

+1.

 

IMHO Stacks-Bowers will have problems remaining relevant if it doesn't address these issues. Heritage seems to have the upper hand on higher end auctions. Legend Morphy and Scottsmann don't help its cause too much either. The weekly auctions will also be threatened by Great Collections, which has been doing very well.

 

Stacks-Bowers has very inaccurate and deceptive images. I only bought from them ONCE (it was a VERY expensive item) and it was one of the worst purchases that I ever made. I could have lost my on the resale but I was VERY LUCKY. I like Heritage much better.

 

Everyone needs to know you shouldn't buy expensive items by pictures alone. It is completely irrelevant who photographs the item, you need to view it in hand or have a proxy do so for you.

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brg5658

brg5658

Posted
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Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

+1.

 

IMHO Stacks-Bowers will have problems remaining relevant if it doesn't address these issues. Heritage seems to have the upper hand on higher end auctions. Legend Morphy and Scottsmann don't help its cause too much either. The weekly auctions will also be threatened by Great Collections, which has been doing very well.

 

Stacks-Bowers has very inaccurate and deceptive images. I only bought from them ONCE (it was a VERY expensive item) and it was one of the worst purchases that I ever made. I could have lost my on the resale but I was VERY LUCKY. I like Heritage much better.

 

Everyone needs to know you shouldn't buy expensive items by pictures alone. It is completely irrelevant who photographs the item, you need to view it in hand or have a proxy do so for you.

 

I think those posting here who WORK for Stacks (or Spectrum in some capacity) or even other auction companies should have such information in their signature lines.

 

Just saying...I'm not accusing anyone of "funny business", but I think that some disclosure of such information is important for interpreting some posts.

 

 

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MarkFeld

MarkFeld

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

+1.

 

IMHO Stacks-Bowers will have problems remaining relevant if it doesn't address these issues. Heritage seems to have the upper hand on higher end auctions. Legend Morphy and Scottsmann don't help its cause too much either. The weekly auctions will also be threatened by Great Collections, which has been doing very well.

 

Stacks-Bowers has very inaccurate and deceptive images. I only bought from them ONCE (it was a VERY expensive item) and it was one of the worst purchases that I ever made. I could have lost my on the resale but I was VERY LUCKY. I like Heritage much better.

 

Everyone needs to know you shouldn't buy expensive items by pictures alone. It is completely irrelevant who photographs the item, you need to view it in hand or have a proxy do so for you.

 

I think those posting here who WORK for Stacks (or Spectrum in some capacity) or even other auction companies should have such information in their signature lines.

 

Just saying...I'm not accusing anyone of "funny business", but I think that some disclosure of such information is important for interpreting some posts.

 

 

I have updated my signature to reflect that I work for Heritage Auctions and that unless otherwise stated, the opinions I express here are my own.

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L1ncolnF4n

L1ncolnF4n

Posted
Posted
Teletrade is only dead under the Teletrade name. Same people, same coins, same buyer/seller fees. Teletrade has simply been folded into its big brother company Stacks.

 

All part of Spectrum's (parent company for both) streamlining,

 

So I guess we can expect the same poor selection of over-graded coins with full-retail starting bids under the Stacks weekly auctions? hm

 

When add in the difficulty in the website's navigation I just avoid the place altogether.

 

Stacks/Bowers also needs a website upgrade desperately. The auction page is confusing and their archive database is very poorly rendered. Heritage's site if FAR superior...not even close.

 

Spectrum needs to pull their heads out and create a better user experience. Great Collections has why not Stacks?

 

jom

 

+1.

 

IMHO Stacks-Bowers will have problems remaining relevant if it doesn't address these issues. Heritage seems to have the upper hand on higher end auctions. Legend Morphy and Scottsmann don't help its cause too much either. The weekly auctions will also be threatened by Great Collections, which has been doing very well.

 

Stacks-Bowers has very inaccurate and deceptive images. I only bought from them ONCE (it was a VERY expensive item) and it was one of the worst purchases that I ever made. I could have lost my on the resale but I was VERY LUCKY. I like Heritage much better.

 

Everyone needs to know you shouldn't buy expensive items by pictures alone. It is completely irrelevant who photographs the item, you need to view it in hand or have a proxy do so for you.

 

I think those posting here who WORK for Stacks (or Spectrum in some capacity) or even other auction companies should have such information in their signature lines.

 

Just saying...I'm not accusing anyone of "funny business", but I think that some disclosure of such information is important for interpreting some posts.

 

 

I have updated my signature to reflect that I work for Heritage Auctions and that unless otherwise stated, the opinions I express here are my own.

 

Very reasonable solution Mark.

 

I'll do the same.

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brg5658

brg5658

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Thanks guys. No harm or foul intended, but I figure every time I publish a scientific paper I have to offer a disclosure, so it's only fair here. :)

 

I hate formalities, but some of the newer guys/gals here might not know who's who around here -- and I'm happy to have both of you here -- more experts the better! :)

 

Cheers,

-Brandon

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World Colonial

World Colonial

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Posted
I'd also like to see more world (non-USA) material, as the recent selection was just laughable, centered around mostly world bullion-type coinage, and WAY overpriced so-so (mostly unattractive) coins.

 

 

Me too, but it must be the result of their consignments. The first auction site I visited regularly (aside from eBay) was TT in the early part of the last decade. I used to see some pretty good and scarce coins then. I presume that those coins are now consigned elsewhere for a variety of reasons.

 

From what I can see, the supply and quality has increased somewhat in the aggregate as prices have increased, but mostly, I think it is just moving from other auction firms to Heritage. Maybe an exageration but I think they are outcompeting and out marketing other firms "big time".

 

In the last 10 years or so, ANR, Stacks and B&M have merged and the new Stacks has also absorbed Ponterio & Associates. Superior Galleries has disappeared and Goldberg doesn't seem to be much of a factor in world coin at all. I like Heritage better than Stacks but I don't think its a good thing for any one company to be dominant in any industry.

 

Aside from Heritage, the only other US firm which has what I collect with any regularity is Daniel Sedwick. All of the others are foreign.

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