ooch i justwon my first auction on teletrade

[Guest]

i just won a 09 vdb on there that i bid 27 dollars and i knew that there were fees but when i got the bill it was 47 dollars

i think ill stick to ebay

co

[JeanK]

Now that is definitely a sad thing to happen! Shame on them.
I have not looked at teletrade, but now I think it will be better to avoid the site entirely.
Thank you for the warning!
Jean

[hasfam]

Ouch is right. Sorry that happened to you.
Rock

[Brad]

I don't do much on Teletrade for that reason. The fees are a lot. I do watch and bid, but I have probably only won 10 or less auctions. You need to understand how their fees and bidding systems works. You should also be aware that sellers can bid on their own coins!

[jcuve]

That's tough.

To elaborte on Brad's points, all auction houses, like Heritage, Sotheby's or Christie's, or in this case Teletrade, have buyer and seller premiums that often change year by year and also with the final bid amount (though that is usually in very high amount like 100k) or even with the person bidding (which is complicated).

They make online auction calculators that one can input the percent added on to a bid ahead of time to know what your final bid means in the end. The term Hammer Price refers to the final bid amount before the fees are added on. Bidding at a real auction (as eBay barely qualifies) is fine as long as you know your max bid is with the buyer's premium calculated.

[shameless]

thanks everybody lesson learned
i just signed up and was looking and thru a bid out there i really did not think i would get it
i knew that there was a 15% buyer fee so on 27 plus 4 dollar 31 and 4 shipping

but it was my fault for not reading all of it there
a 8 dollar flat buyers fee and tax and shipping was higher
it was a 09 vdb pcgs ms-63 or 64 rb (i don't remember what i bought) lol.
but i will stick with ebay for the most part
thats to much to figure out to bid on stuff
thanks everybody thought i would share my blondeness with you
co

[Brad]

Here is the easy way to figure it out on Teletrade

(AMOUNT YOUR ARE BIDDING) TIMES 1.15 PLUS SHIPPING or
(AMOUNT YOUR ARE BIDDING) PLUS 8 PLUS SHIPPING

which ever is higher

[JeanK]

Hey shameless... I don't think 'blonde' ever played into the calculation, so do not let you or your genetics take the blame.
Sometimes things just aren't spelled out in terminology we can all understand, it matters not if we are blond, brunette, redhead, raven-haired, or gray. (I just had to defend the entire population... one of my 'bads')....
Jean

[RWBILLER]

the only time so far that i used teletrade was for a coin that i was looking for desperatly - a 09-vdb are everywhere - i wont use teltrade again - unless i have another coin that i really need. Brad is correct on his anaylsis.
roger

[MintyFresh]

JAson & Brad, Thanks for helping cut through the thick of it to understand fees and such. I read all of the fine print, but my eye and attention spand lately just get in the way... thanks for cutting to the chase.

-Brooks

[hasfam]

.... it matters not if we are blond, brunette, redhead, raven-haired, or gray. (I just had to defend the entire population... one of my 'bads')....
Jean

Glad you put that one in Jean. I feel better now.
Rock