Since Proxibid’s recent redesign, the site is more convenient, with one registration for all coins and currency auctions. Also, Proxibid’s enhanced search functions allow bidders to hone in on one item from different auctions. But terms of service differ from house to house. Below is a selection of service terms with a comment or two from Proxiblog.
Shamrock Auction Service: “Will not guarantee grades or authenticity on coins. All grading questions should be addressed prior to sale time. We will be happy to email other pictures to you, if needed.”
Proxiblog: Good communication about the extra pictures; alas, though, federal law (as well as the Hobby Protection Act) requires that upon being informed that a coin is a counterfeit, with adequate proof, the consignor and not the bidder is liable. Update your consignor forms and switch liability to sellers rather than your auction house.
Philip Weiss: “Items Offered Are Part Of A Live Auction At Philip Weiss Auction’s Gallery. Items Are Offered In Numerical Order And Are Auctioned At A Pace Of Approximately 75-100 Lots Per Hour.”
Proxiblog: Nice to know. Pacing is everything in onsite and online auctions.
Philip Weiss: “It would be in your best interest as a serious buyer, for yourself or a reliable representative come to our Gallery to Pre-view the items in person, or at the very least, call us during pre-view hours so one of our representatives can look at the item while you ask specific questions.”
Proxiblog: Excellent advice.
Yap Auction: “TERMS & CONDITIONS: We no longer receive your online payment information. Due to this the Buyer will need to contact Auction house with in 3 business days to arrange payment of purchases. Items will be shipped within 5 business days as long as items are paid for. If payment is slow in coming shipping could take as long as 4 – 6 weeks.”
Proxiblog: It doesn’t make sense to sell online and then not pay for APN clearance.
Eric’s Estate and Liquidation Service: “Online buyer’s premium is 13%!! On-site premium is 15%. Sales tax of 7% for any items picked up locally or shipped to an Illinois address. Most auction houses charge an increased buyer’s premium for internet bidding and no discount for absentee bids. We are different and like to encourage these forms of bidding and offer a 2% discount on our buyer’s premium for using them!
Proxiblog: Bravo! Now just invest in APN clearance, and you could be one of our top houses!
In the future Proxiblog will monitor terms of service and present interesting, odd or proactive terms in a round-up post such as this.
Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.