Would you buy coins from this Proxibid auction house?

We understand that Proxibid has to sign up auction houses and allow owners to set their own terms of service. But in this case, perhaps a little help from the sales team about appealing to the online audience might be appropriate. …

You use Internet. You register at Proxibid. You want to buy coins. Would you rather purchase coins online by one of our Honor Roll auctioneers—10-15% buyer’s fee, APN clearance so you can use your credit card, onsite inexpensive quick shipping, guarantees about authenticity …

OR …

Would you buy from an auction house that imposes a 20% Buyer’s Fee with:
• No APN clearance
• No packing and shipping
• Substandard photography
• No picture of reverse [See sample coin photo] …

AND has these restrictive terms of service (summarized from a larger document):

  • Any Purchaser wishing his/her items shipped either nationally or internationally MUST contact a shipper of his/her choice. … Winning bidders are responsible for all arrangements relating to the packing and shipping of their property. All shipping charges will be borne by the Buyer and paid directly to the shipper.
  • [Auctioneer] shall not be responsible for the accuracy, nor deemed to have made any representation or warranty of description, genuineness, attribution, provenance or condition of the property.
  • If the auctioneer determines that any opening or later bid or any advance of bidding is not commensurate with the value of the article offered, the auctioneer may reject the same and withdraw the article from sale.
  • The auctioneer may open bidding on any lot by placing a bid on behalf of the consignor.
  • Property must be removed within 7 days from the date of sale. If not so removed, [auctioneer] reserves the right to impose a … moving fee of $35 per lot and charge a storage fee of $10.00 per day per lot. [Auctioneer] may also prohibit the purchaser from participating, directly or indirectly, as a bidder or purchaser in any future sale or sales.
  • Photographs are provided solely for the bidders’ convenience and shall not be construed to create representations or warranties of any kind pertaining to the assets.
  • A buyer’s premium of 15% of the bid price will be added to the bid price for each lot bought onsite.
  • Each successful bidder purchases totaling $2000.00 or less must be paid in full within 24 hours following the successful bid. Bidder purchases of $2001.00 to $9999.00 must pay a 25% deposit towards the purchase price within 24 hours following the successful bid. Bidder purchases of $10,000.00 or more must pay a $3000 deposit toward the purchase price within 24 hours following the successful bid.

Proxibid: Please give these auctioneers guidance about the online world. Companies like yours have changed the consumer world. The coin and auction business has changed with you. Help companies like this get with the program–YOUR successful portal program, that is–with an online tutorial about best practices.

Or refer them to Proxiblog.


2 thoughts on “Would you buy coins from this Proxibid auction house?

  1. No, I would not! In fact, with all the great info you provide, I have “axed” a number of auction sellers for such reasons as here presented. You might wish to add the auction house that “shows” one coin, but ships a much poorer example and then does not respond to emails for recovery of the purchase price.

  2. Thank you for your comment. I have heard about auction houses doing exactly what you state. (Other bidders have informed me.) I’ll do a post on that soon.

    We appreciate your viewpoint on this and will follow up!

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