We understand that some auctioneers resist signing up with Auction Payment Network, which helps assure security. Coin collectors and hobbyists are obsessed with security with many keeping their winnings in bank boxes so as to avoid theft. But there is a bigger theft out there, and that concerns identity.
We bristle reading service terms on Proxibid like the one above, which states: “To pay by c/c, please call in or send your c/c number, exp. date and ccv code. …”
What decade–no, century–is this auctioneer living in, when major companies like Target cannot prevent security breaches?
If you are an auctioneer, and you insist on not subscribing to APN (bad choice), then at least put in your service terms how you will treat credit card data. Will you call the bidder (preferred) or ask the bidder to call you? Will you take the data long hand and then shred it for security? Or are you planning to store it in your home, office, or company computer?
We strongly recommend that Proxibid require that those issues be addressed in service terms of each auction house on the portal that does not subscribe to APN, PayPal or some other secure network.
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.