New Year’s Resolutions for Bidders

new year

In this post we proclaim 10 bidding resolutions for 2013. Tomorrow we will post 10 auctioneer resolutions.

Think twice about bidding …

  1. … in an auction that hypes self-slabbed coins as being worth thousands, citing the Redbook, Coin World Values or PCGS Price Guide. (These coins are almost always cleaned, marked, altered or otherwise damaged; and yet the grade will be MS66 or MS67.)
  2. … in an auction that only photographs one side of a coin. (Would you buy a car if the seller only showed half of the vehicle?)
  3. … in an auction that posts blurry, tinted or small photos. (If the auctioneer cannot photograph a coin properly, he won’t be agreeable when you try to return it for flaws those photographs obscured.)
  4. … on uncirculated coins whose photos cannot capture the luster or color of the metal. (Chances are, the coin has been dipped.)
  5. … in an auction that outsources shipping so that the bidder has to make calls and arrangements with a third-party. (Once the coins go to the shipper, you no longer are dealing with Proxibid but with the shipper’s terms of service.)
  6. … higher and higher–not for the coin–but to bid up others, especially during an auction. (As Confucius states, those who seek revenge should dig two graves.)
  7. … in an auction that opens with high reserves approaching retail values of coins when buyer’s premium and shipping are added. (Patronize your local coin dealer who might give you a better bargain.)
  8. … in an auction that lacks APN or PayPal and requires you to give your credit card information over the phone, including expiration dates and other codes. (You’re trusting the auction house and its employees with direct access to your bank.)
  9. … in an auction that posts transparency notices for maximum-bid and ghost-bidding (unless you really need that coin and are willing to pay retail for it).
  10. … in a timed auction that sees maximum bids. (There just isn’t any need for that unless someone is ghost-bidding.)

What other bidding resolutions should we have listed? What are some of your own?

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.


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