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What Am I Not Seeing?


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I thought about this a for a few minutes and as there is no other thread about this.  Why not see where this one goes

List links to coins that are found online like ebay that have bids that one can not understand. I am not talking about scam listing, It is about genuine listings that seems to attract bids that seems high for such a coin. eg below. 

https://www.ebay.co.uk/itm/266592806941

Never Chase and Never Regret 

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17 minutes ago, Spyder said:

I thought about this a for a few minutes and as there is no other thread about this.  Why not see where this one goes

List links to coins that are found online like ebay that have bids that one can not understand. I am not talking about scam listing, It is about genuine listings that seems to attract bids that seems high for such a coin. eg below. 

https://www.ebay.co.uk/itm/266592806941

They’ve not even read the description, pics look good bid placed it is a Sov but not a Full…hence the bids.

 

Numpties.

Edited by Sovhead
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Tried to bid on an 1887 MS64 half sov but didn't get it. It went all the way to £740 which is way more than what an MS64 gets at major auctions...

Edited by SeverinDigsSovereigns

If we do the right thing this time, we might have to do the right thing again next time.

 

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1 minute ago, SeverinDigsSovereigns said:

Tried to bid on an 1887 MS64 half sov but didn't get it. It went all the way to £740 which is way more than whatb an MS64 gets at major auctions...

Hmmm… I’ve got one of them in stunning condition I need to get it graded it’s that good.

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27 minutes ago, Sovhead said:

They’ve not even read the description, pics look good bid placed it is a Sov but not a Full…hence the bids.

 

Numpties.

The description does say Half and even has a photo on scales at 4g.  

Never Chase and Never Regret 

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10 hours ago, Spyder said:

I thought about this a for a few minutes and as there is no other thread about this.  Why not see where this one goes

List links to coins that are found online like ebay that have bids that one can not understand. I am not talking about scam listing, It is about genuine listings that seems to attract bids that seems high for such a coin. eg below. 

https://www.ebay.co.uk/itm/266592806941

If you regularly sell on ebay one thing you (sadly and quite often annoyingly) come to realize is that very few people actually read an items description. Quite often someone will see the title, look at the first picture and base their bid/purchase on that alone. Whilst the title of this one does clearly give a weight indicating it is a half sov one other thing I've noticed in the coin world is that quite often people rush to buy things without knowing anything about it. I suspect there is a combination of those two things at play with this auction.

The above being said though this is very much a thing on ebay which I'd mostly chalk up to some form of auction fever. You'll see the same behaviour if you attend an auction in person. I was at one back in November and watched as one lot after the other went for well over what you could buy the items for from the shops around that sold them. Factoring in auction fees people paid as much as double for some of the goods and it wsan't because it was a charity auction. Its not something I'll ever understand.

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  • 1 month later...

He seems to have sold a huge number of second hand power tools recently, but none listed now🌞

Coins are not only a store of value but a store of beauty.

The privilege of a lifetime is being who you are. (Joseph Campbell).

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I do not think someone was trying to inflate the price. There were 11 different bidders who bid up to £460 for a coin that should can be had for £400.  

This is what I mean by what am I not seeing. If someone listed at £460 and caught a bid I can understand, but 11 different bidders.

Edited by Spyder

Never Chase and Never Regret 

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On 03/01/2024 at 21:51, Aldebaran said:

Oh well it sold for £375 🖖

Resold as a half. I'm guessing a genuine mistake by the seller. In the description he said it was a half. 

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IMHO the seller should not be able to get away with "Sovereign" in the title, but then specify half sovereign in the description. Buyer should be entitled to a refund.

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  • 2 weeks later...
28 minutes ago, Spyder said:

Has someone here got a bargain or just lost £200. From the photos the coin looks good but have noticed that no feedback has been left

https://www.ebay.co.uk/itm/364718168375

Check sellers feedback and you'll realise they cancel sales all the time

I like to buy the pre-dip dip

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6 minutes ago, James32 said:

Check sellers feedback and you'll realise they cancel sales all the time

22 negatives in one month. Definitely a seller who cancels a sale when not reached their price. Some coins reached a high price like 1873 sov for £560 and 1855 for £800.  What did he want.  eBay should banned any seller that cancels more than twice after payment has been made

Never Chase and Never Regret 

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  • 4 weeks later...

You find this mystery multiplies with ancient coins..

Some are hard to value accurately because they are basically worth whatever someone is willing to pay. You could have a coin sell for £200 then the same type of coin slightly different (they are all unique by the method they were made, aged & worn ect) could randomly reach £1000 or more. Why? Because they are unique and some people liked THAT ONE rather than settling for basically the same coin at a fraction of the price.

Why? I've come to the conclusion some people have more money than sense.

Ad lunam, ad opes ac felicitatem.

    "Put the soup down. Today is a caviar day."    -James32

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11 hours ago, Spyder said:

Here is another listing that makes no sense to me. Nothing special about the coin

https://www.ebay.co.uk/itm/326062816815

I don’t know, but this seller has sold quite a few recently, including a half for a very good price.

Coins are not only a store of value but a store of beauty.

The privilege of a lifetime is being who you are. (Joseph Campbell).

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3 hours ago, Aldebaran said:

I don’t know, but this seller has sold quite a few recently, including a half for a very good price.

 

14 hours ago, Spyder said:

Here is another listing that makes no sense to me. Nothing special about the coin

https://www.ebay.co.uk/itm/326062816815

Agreed.  8.1g - his scales must be off.  

Not my circus, not my monkeys

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You'll see the same behavior of overpaying for relatively generic items on many auction type sites. Catawiki is another example, particularly under the 'no reserve'. For some reason 'no reserve' makes bidders buy into the idea that 'now it's bound to be cheap'. 

An example is https://www.catawiki.com/en/l/81958595-1-gram-gold-umicore-sealed-with-certificate - 1G Umicore bar is currently going for €82 with 21 hours to go. It'll add 9%+€3 for 'auction costs' and delivery costs depending where you are (€20-50 usually). In this case 1 gram gold is traded for at least €92.38 + shipping. Let's be generous and say €25 shipping. That'd be €117.38.

A 2G Metalor bar is here up for €160 with 2 days to go at https://www.catawiki.com/en/l/81958561-2-grams-gold-999-metalor-sealed-with-certificate. That's €177.40 + shipping for 2 gram of the shiny stuff, about €100 a gram with 2 days to go. It WILL go up at the last minute for sure.

The point being, that which you're not seeing is emotional sunk cost fallacy of some sort. People just get invested in 'getting the thing' and 'winning' the auction. Agreed also that some people just can't/won't read a description. I think the get-out-of-ebay-jail-card in the previous examples is that 'sovereign' isn't a protected word and you can slyly use it to sell any coin really. Absolutely disgusting business practice of course, but a fool and his money...!

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