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We grow weary with seeing so-called auctions like this on Proxibid. Coins open at or near retail. Buyer’s fee is high. Auctioneer sees maximum bids and can shill bid at will. These aren’t auctions. They’re online coin stores.
This auction company routinely opens at or near retail, charges a higher buyer’s fee, sees maximum bids and can shill bid to raise the price higher. Why are these so-called auctions on Proxibid?
We recommend against bidding with any company that sees maximum bids and allows auctioneering or consignor bidding. There are plenty of real auctions on Proxbid, in which there are no reserves, low opening bids, low buyer’s fee and good shipping. We don’t list any auction that sees maximum bids or allows shill bidding in our top rankings in the right sidebar.
If you want to patronize auctions like the one above, we recommend against Proxibid and for Heritage, Teletrade and Great Collections. They offer superior service, especially shipping. The same coin below sold recently at Heritage very near the above company’s opening bid.
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.
I have been a longtime supporter of PLOXIBLOG; I even have a link on my home page to this site. I do however feel a need to comment on this recent post, I agree with the premise, but blame the SELLER’S and the AUCTIONEERS solely for this behavior.
But first, in an 1892 Webster Dictionary it describes an AUCTION as: Public sale to the highest bidder, an AUCTIONEER as: One who sells by auction… Back when this was written, Doctors made house calls, had a small office, how things have changed. The need for a profit has never been greater.
I sell 99% of what I list all with a $1.00 starting bid without reserves. I have to say it is difficult to consign high end items when so many auctioneers are willing to sell with reserves and or high starting bids. I do not; it is about for me, selling to the highest bidder.
This is not a PROXIBID problem, high starting prices, and ability to see the bids throughout the process. They are the only company – platform – auction software I am aware of that REQUIRES a disclaimer if an auctioneer CHOOSES – REQUEST the ability to see the bids. Here is the flag: IF AN AUCTIONEER HAS NO BADGES, LOOK FOR THE DISCLAIMER – DO NOT BID, DO NOT SUPPORT HIS AUCTION! It is that simple. Also, for your bidders that bid on other auction platforms, before you bid, CALL THE AUCTION COMPANY AND ASK THEM DIRECTLY IF THEY CAN SEE YOUR BID! Do not bid with them.
To the sellers, an auction is about an item being sold to the highest bidder; consign your items with auction companies that are recognized for conducting business with the highest of standards and ethics, like me! You will get fair market prices for all your coins!
The issues with starting bids, high buyer’s premiums and ability to see your bid at all time again, are not a PROXIBID issue. It is an auctioneer and seller issue that has little or no moral compass and certainly do not think of you, the BUYER.
Thank you so much for writing at length here! You always enrich the discussion. I admire auctioneers like you and so many others because they know that competition, advertising, customer service and more make an auction.
The most important point of the post was this: “There are plenty of real auctions on Proxbid, in which there are no reserves, low opening bids, low buyer’s fee and good shipping. We don’t list any auction that sees maximum bids or allows shill bidding in our top rankings in the right sidebar.”
Your house has always promoted these values, and we consider you a friend and recommend that viewers check out http://www.krauseauctioneering.com!