Is it Just Me, or Are Auctions Addicting?

[astrostu]

So I just "discovered" Teletrade via an ad at the top of these forums last Friday. Five days later, I've won a few coins and I'm down a hundred dollars. And I have more items that I've bid on for tomorrow.

 

Anyone else find these things addicting?

[MunkyMan95]

Addicting on teletrade, no. Addicting on eBay, YES!!!

[James_OldeTowne]

They were a little addicting to me at one time, but sooner or later, I guess most folks develop a little cynicism, and it becomes a chore. At least, that's the case if you do a little peddling on the side, as I do...

 

James

[braddick]

There's a cottage industry of collectors/dealers purchasing toned coins (especially Morgans, as of late) off of Teletrade and flipping them, with much better photographs, on eBay.

 

Some serious profits are made doing so if the buyer is careful in how he "reads" the Teletrade photos.

 

It's also branching out to contemporary type as I'm seeing more and more coins flipped from the one venue to the next.

[Gembeeyou]

So I just "discovered" Teletrade via an ad at the top of these forums last Friday. Five days later, I've won a few coins and I'm down a hundred dollars. And I have more items that I've bid on for tomorrow.

 

Anyone else find these things addicting?

 

Naw, it's just you! No numismatists on these boards would ever allow auctions to become addicting!

I'd elaborate more, but only have 2 minutes left to go snipe a FH Quarter on an eBay auction that's about to end! Gotta run!

[Bruceswar]

So I just "discovered" Teletrade via an ad at the top of these forums last Friday. Five days later, I've won a few coins and I'm down a hundred dollars. And I have more items that I've bid on for tomorrow.

 

Anyone else find these things addicting?

 

Naw, it's just you! No numismatists on these boards would ever allow auctions to become addicting!

I'd elaborate more, but only have 2 minutes left to go snipe a FH Quarter on an eBay auction that's about to end! Gotta run!

 

Online auctions do nothing for me really... I like to see my coins in hand before purchasing. Any mistakes made that way are made by me and not some images. I have yet to buy a coin from an auction

[pendragon1998]

If I wasn't as disciplined with my money, they could easily become addicting.

[TJ'S Coins]

Ah, what discipline Brucewear! We can learn something from your self-control

 

As Braddick noted you can find some nice coins out there, like on Teletrade. I've won a few that no few others bid on due to appearance of the scan or the holder (ICG) that are much better coins in person than imaged for the auction. There is only one coin that I have purchased from an auction where I feel the seller misrepresented the coin. Fortunately I won it for an AU price, which it actually graded when I submitted it. No financial loss but I will not buy from this seller again. It wasn't ebay but a vendor on Overstock.com

 

Yes, auctions can be addicting if one does not have carefully preset spending limits and then sticks to them.

[astrostu]

Yes, auctions can be addicting if one does not have carefully preset spending limits and then sticks to them.

 

Yeah ... another thing I have to keep telling myself is that it's not as if this coin (at least the ones that I bid on) are never going to be up for auction again, so if the price goes above my limit, I back off. As for the quality issues someone mentioend above, that's why I only went for (many years ago) the "unsearched" lots of wheat pennies, and now-a-days the NGC or PCGS certified stuff. I put my cut-off for max bid when shipping, auction fee, and my bid price will exceed 50% of the average of what Coin World's 2006 price guide says and what the online PCGS guide says ... since other online price guides cost $$$.

 

But it's my birthday in a week and a half, so I'm being nice to myself.