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Teletrade is upping their buyer's fee from 10% to 12%

Started by James_OldeTowne,

15 posts in this topic

EZ_E

EZ_E

Posted
Posted

Unfortunately it is all about:

 

 

Almighty George who supplieth all of my needs .

 

 

There is way too much greed in the world as it is.

gmarguli

gmarguli

Posted
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.... in case anyone cares.

 

Nope, don't care at all. TT sells trash and their fees have long been out of line.

HaydenTubbs

HaydenTubbs

Posted
Posted

Sorry James,I think Travis the troll beat you to it on this one.He posted a thread last week. Anyways in my case I rarely check their auctions anymore and haven't bid for weeks. All their stuff goes for below bid but with the wopping buyer's fees there just isn't anything good to be had,and this increase is as if they don't already get enough from the consigners...Greedy pigs...didn't their buyer fees used to be right around 5%? The good old days...

midwest

midwest

Posted
Posted
Sorry James,I think Travis the troll beat you to it on this one.He posted a thread last week. Greedy pigs...didn't their buyer fees used to be right around 5%? The good old days...

 

Who are you calling a troll.That is Troll Baby Jr to you and I learn it from you . poke2.gif

 

Also Hayden Your having a senior moment 893whatthe.gif893scratchchin-thumb.gifmakepoint.gifstooges.gifsumo.gifpoke2.gif

 

In the end this won't hurt them. People will always need a place to sell stuff that is bad and I am sure soon enough a competitor will come around and kill them off. popcorn.gif

Beijim

Beijim

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Posted

Results with Teletrade are variable. The buyer's fee increase is annoying, even though they grandfathered existing customers at 10% for awhile. Perhaps most egregious is their policy of allowing sellers to, in effect, place phantom reserves on lots by bidding on them against buyers.

 

I've received both outstanding coins and so-so coins from Teletrade auctions. For moderns, such as commemoratives, patient buyers can do well by watching the listings and bidding on the occasional lot here and there. Even with the juice, I've generally won lots at below market using judicious bidding.

 

The keys are patience and resisting any lot that appears to have the behind-the-scenes seller bid in play. After watching Teletrade auctions awhile, these lots generally stand out like a sore thumb to anyone with a knowledge of current market values.

 

Good luck!

Beijim

James_OldeTowne

James_OldeTowne

Posted
  • Author
Posted

It's been a long time since I won a coin from TeleTrade. I've looked at a couple of auctions recently, but they seem to really be "out there" these days, with all kinds of distractions, including little mini-graphic monikers for "old slab", "rainbow", etc., things that I couldn't care less about.

 

Yesterday, I got in the mail a coupon good for $100 off any purchase over $500. I guess they're trying to lure back my business, but they would earn a lot more of my business by simply leaving their buyer's fee where it is, and getting rid of the silly monikers.

 

Just me, I guess.

 

James

HaydenTubbs

HaydenTubbs

Posted
Posted
It's been a long time since I won a coin from TeleTrade. I've looked at a couple of auctions recently, but they seem to really be "out there" these days, with all kinds of distractions, including little mini-graphic monikers for "old slab", "rainbow", etc., things that I couldn't care less about.

 

Yesterday, I got in the mail a coupon good for $100 off any purchase over $500. I guess they're trying to lure back my business, but they would earn a lot more of my business by simply leaving their buyer's fee where it is, and getting rid of the silly monikers.

 

Just me, I guess.

 

James

James,send me that coupon! devil.gif

IGWT

IGWT

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Posted

Hayden -- The terms of the coupon expressly state that they are non-transferable. 893naughty-thumb.gif

 

Hi and welcome, ddovala. hi.gif I've also had some good luck with Teletrade, and I agree with Beijim's comments. The high volume of coins that pass through Teletrade creates the potential for cherrypicking. Some collectors broadly criticize Teletrade for the quality of coins offered; but, they must not be looking for the kind of pieces that interest me.

HaydenTubbs

HaydenTubbs

Posted
Posted
Hayden -- The terms of the coupon expressly state that they are non-transferable. 893naughty-thumb.gif

 

Hi and welcome, ddovala. hi.gif I've also had some good luck with Teletrade, and I agree with Beijim's comments. The high volume of coins that pass through Teletrade creates the potential for cherrypicking. Some collectors broadly criticize Teletrade for the quality of coins offered; but, they must not be looking for the kind of pieces that interest me.

 

The nerve,now how am I going to buy some ICG PR-70s? sign-rantpost.gif

 

27_laughing.gif

 

I agree,I've picked up some great deals from TT unfortunately this usally involves bidding on about 50 coins and winning 2,like the last Teletrade auction I participated in. Hopefully it will be worth it in the long run...As to the quality of the coins,LOOK at the pics before you bid!

There is plenty of cruddy looking coins up for auction in PCGS/NGC holders on TT,but there are also some aboslutely stunning pieces!

 

-Hayden

James_OldeTowne

James_OldeTowne

Posted
  • Author
Posted

((( The terms of the coupon expressly state that they are non-transferable. )))

 

I have picked up some great coins from TeleTrade in the past as well.

 

Here's an image of the coupon:

teletrade_coupon.jpg

 

James

HaydenTubbs

HaydenTubbs

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Posted

So I guess it's something that is already programmed into your account? I must not have bought enough from them to qualify...

RGT

RGT

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Posted

 

The nerve,now how am I going to buy some ICG PR-70s? sign-rantpost.gif

 

 

Here you go Hayden. I've heard this seller is moderately trustworty and won't screw you over too badly.

 

I've only won one coin from Teletrade and it's one of the most "so-so" coins in my collection. It's stunningly mediocre with blazing average luster with a beautiful lack of tone.

 

Apparently, my one purchase wasn't enough to qualify me for the coveted coupon.

midwest

midwest

Posted
Posted
Hayden -- The terms of the coupon expressly state that they are non-transferable. 893naughty-thumb.gif

 

Hi and welcome, ddovala. hi.gif I've also had some good luck with Teletrade, and I agree with Beijim's comments. The high volume of coins that pass through Teletrade creates the potential for cherrypicking. Some collectors broadly criticize Teletrade for the quality of coins offered; but, they must not be looking for the kind of pieces that interest me.

 

The nerve,now how am I going to buy some ICG PR-70s? sign-rantpost.gif

 

27_laughing.gif

 

I agree,I've picked up some great deals from TT unfortunately this usally involves bidding on about 50 coins and winning 2,like the last Teletrade auction I participated in. Hopefully it will be worth it in the long run...As to the quality of the coins,LOOK at the pics before you bid!

There is plenty of cruddy looking coins up for auction in PCGS/NGC holders on TT,but there are also some aboslutely stunning pieces!

 

-Hayden

 

Actually I like Teletrade and they always have some nice coins. However every time I go searching I see coins that make me shake my head mad.gif

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