Discussion - Member to Member Sales - Research Center
Discussion - Member to Member Sales - Research Center
Am I obligated to sell this? I plan to contact the auction house tomorrow.
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Yes
That said, I've had eBay sellers tell me they lost the lot or they misidentified the lot and walk away from it. It's unethical and illegal (we sign contracts when we bid or list) but folks do it.
I assume when you say:
"They listed it as $325 or so"
My own experience with early GB is that the CV is consistently WAY overvalued.
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Did you set a reserve?
If not then there is probably nothing you can do other than put it down to experience.
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Yes, you are right that wasn't a reserve it was just my feel of what it was worth. I am now tempted to haunt auction dealers and make ridiculous low bids on varied lots just for the heck of it. GB is not an area I plan to continue, values are insanely high catalog.
You live and you learn in this hobby.
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Hipstamp has a weekly zero start auction you can put stamps in. Only proviso is that the stamp must have a minimum "value" of $10. They don't define that so you are making an educated guess. They will not include those they don't think the item is "worth" at least $10.
That aside, I've tried a few times and always included a few items with a value (est. by me) of up to $25. Results have been abysmal. I will not enter again.
In your case, I think you are stuck with the results. Unless there is a minimum bid not met, You are risking what ended up occuring. My 2 cents.
Also, by low bidding a bunch of auctions you are hoping to get lucky with you are just doing what was done to you. Just sayin.
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The hurt is over, now I am wondering what the buyer will think when he opens the damn package to find a whole bunch of Victorian issues including an almost full set of Penny Reds. This was my mistake and I will live with it. Parts of this are sort of fun to think about.
It hurts less this way....
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You Did the right thing. I have done the same thing selling. And buying I bid on what I would say listing price on about $4,000 of lots. All lots started @ 99ctnts. I my bids were from 10-70%I won most of them @ 99cents The seller would not honor them. He is a APS. member. I offered Him what I bid but he would not answer me. I did not turn him in to the APS. It's not my fault no one bid against me. Maybe they will offer you some extra. but probably not.
Keep on Stamping
Richard
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The answer to both problems is quite simple:-
Sell or Buy on Stamporama!!
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Three weeks ago we listed a bunch of heavy equipment on a Ritchie Brothers Auction. All units were like new; we even put brand new brakes and tires and after hauling them to Alberta, paid Ritchie Bros to wash them again too. Results were awful! We lost $500,000 easy. It is a setback at the time, but becomes just a story to be told.
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No reserves??
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That's exactly why you put a starting bid value on an item! Just don't put it too high...
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This weekend I had a lot in an auction consisting of a good collection of Great Britain 1840-early 1990s, nearly a full set of Penny Reds, lots of other stuff. They listed it as $325 or so. Auction closed today.It went for under $25.
Am I obligated to sell this? I plan to contact the auction house tomorrow.
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Auctions
re: Not Happy with Auction Result
Yes
That said, I've had eBay sellers tell me they lost the lot or they misidentified the lot and walk away from it. It's unethical and illegal (we sign contracts when we bid or list) but folks do it.
I assume when you say:
"They listed it as $325 or so"
My own experience with early GB is that the CV is consistently WAY overvalued.
Login to Like
this post
11:44:08am
re: Not Happy with Auction Result
Did you set a reserve?
If not then there is probably nothing you can do other than put it down to experience.
Login to Like
this post
re: Not Happy with Auction Result
Yes, you are right that wasn't a reserve it was just my feel of what it was worth. I am now tempted to haunt auction dealers and make ridiculous low bids on varied lots just for the heck of it. GB is not an area I plan to continue, values are insanely high catalog.
You live and you learn in this hobby.
1 Member
likes this post.
Login to Like.
re: Not Happy with Auction Result
Hipstamp has a weekly zero start auction you can put stamps in. Only proviso is that the stamp must have a minimum "value" of $10. They don't define that so you are making an educated guess. They will not include those they don't think the item is "worth" at least $10.
That aside, I've tried a few times and always included a few items with a value (est. by me) of up to $25. Results have been abysmal. I will not enter again.
In your case, I think you are stuck with the results. Unless there is a minimum bid not met, You are risking what ended up occuring. My 2 cents.
Also, by low bidding a bunch of auctions you are hoping to get lucky with you are just doing what was done to you. Just sayin.
2 Members
like this post.
Login to Like.
re: Not Happy with Auction Result
The hurt is over, now I am wondering what the buyer will think when he opens the damn package to find a whole bunch of Victorian issues including an almost full set of Penny Reds. This was my mistake and I will live with it. Parts of this are sort of fun to think about.
It hurts less this way....
2 Members
like this post.
Login to Like.
Auctions
re: Not Happy with Auction Result
You Did the right thing. I have done the same thing selling. And buying I bid on what I would say listing price on about $4,000 of lots. All lots started @ 99ctnts. I my bids were from 10-70%I won most of them @ 99cents The seller would not honor them. He is a APS. member. I offered Him what I bid but he would not answer me. I did not turn him in to the APS. It's not my fault no one bid against me. Maybe they will offer you some extra. but probably not.
Keep on Stamping
Richard
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06:42:13pm
re: Not Happy with Auction Result
The answer to both problems is quite simple:-
Sell or Buy on Stamporama!!
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Approvals
re: Not Happy with Auction Result
Three weeks ago we listed a bunch of heavy equipment on a Ritchie Brothers Auction. All units were like new; we even put brand new brakes and tires and after hauling them to Alberta, paid Ritchie Bros to wash them again too. Results were awful! We lost $500,000 easy. It is a setback at the time, but becomes just a story to be told.
Login to Like
this post
re: Not Happy with Auction Result
No reserves??
1 Member
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re: Not Happy with Auction Result
That's exactly why you put a starting bid value on an item! Just don't put it too high...
1 Member
likes this post.
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