25% Below Spot ??

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Re: 25% Below Spot ??

Postby beauanderos » Tue Mar 13, 2012 8:03 pm

daviscfad wrote:I dont run auctions for this very reason of the risk. If something sells For less than i want it to it is my own fault. I actually bought some gold from someone and the same day mark said the gold dropped 100 an oz also got me. I had not paid the guy yet b.c i had to get the cash but we locked in a verbal agreement of what i would pay. So even though an hour after i bought gold dropped so much I still paid what i said i would pay an ounce even though it dropped. If you want to be reputable then dont do shady things

We all are victims of bad-timing on purchases, but time eventually has a way of easing the pain. Auctions are a different matter. Regardless of the winning price, a seller by offering an item in a listing, should be honor-bound to send that item to the winning bidder... unless the seller no longer wishes to buy and sell in the forum. Then, you simply renege on your listing and your wish will be granted. That's my take on it, anyway. Common sense should tell you not to list something that you'd prefer to get a good price for, when there is already a big pool of listings, in a pond that is mostly inhabited by only small frogs.
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Re: 25% Below Spot ??

Postby JadeDragon » Wed Mar 14, 2012 6:21 am

If you auction something you honor the winning bid - period - unless the bid is bogus and the buyer is not going to pay. Sometimes people overpay at auction, sometimes they get a screaming deal. If you want a guaranteed deal, set a fixed price.

In the long run what is the difference if spot moves up or down the next hour, day, week, month or 10 years. I just found an old receipt in my office for an ounce of gold at $536. I doubt I checked what spot did the next day after purchase.
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
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Re: 25% Below Spot ??

Postby Cent1225 » Wed Mar 14, 2012 7:28 pm

Wow!
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Re: 25% Below Spot ??

Postby OtusLotus » Wed Mar 14, 2012 7:46 pm

DUDE.. YOUR QUESTION REALLY SUCKS!

YOU ARE MANIPULATING THE FORUM AND OUR OPINIONS BY NOT GIVING US ALL OF THE FACTS.

AN AUCTION IS AN AUCTION IS AN AUCTION. IF YOU CHOOSE TO PUT SOMETHING UP FOR SALE, AND THERE IS NO RESERVE, THEN THE HAMMER PRICE IS THE FINAL SALE AND THEN IT BECOMES A GENTLEMAN'S AGREEMENT BETWEEN THE BUYER AND SELLER TO EXCHANGE AND DELIVER THE GOODS.

OBVIOUSLY YOU BACKED OUT OF THE AGREEMENT... AND JUST LIKE YOUR QUESTION... THAT SUCKS TOO!!!
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Re: 25% Below Spot ??

Postby hobo finds » Wed Mar 14, 2012 7:52 pm

I think if a deal was made then honor it. you reap what you sow
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Re: 25% Below Spot ??

Postby tractorman » Wed Mar 14, 2012 7:57 pm

OtusLotus wrote:DUDE.. YOUR QUESTION REALLY SUCKS!

YOU ARE MANIPULATING THE FORUM AND OUR OPINIONS BY NOT GIVING US ALL OF THE FACTS.

AN AUCTION IS AN AUCTION IS AN AUCTION. IF YOU CHOOSE TO PUT SOMETHING UP FOR SALE, AND THERE IS NO RESERVE, THEN THE HAMMER PRICE IS THE FINAL SALE AND THEN IT BECOMES A GENTLEMAN'S AGREEMENT BETWEEN THE BUYER AND SELLER TO EXCHANGE AND DELIVER THE GOODS.

OBVIOUSLY YOU BACKED OUT OF THE AGREEMENT... AND JUST LIKE YOUR QUESTION... THAT SUCKS TOO!!!


+1

Everything I posted earlier in this thread can now be changed to ... "An auction without a reserve is a deal at the hammer." Simple.
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Re: 25% Below Spot ??

Postby stevkc » Wed Mar 14, 2012 8:03 pm

IdahoCopper wrote:Who here would willingly sell their silver at 25% below melt/spot? I'm not looking to buy, just asking.

I'm also curious how this conversation might go.


I wouldn't, maybe war nickels.

Except that if I ran an auction without a reserve and it went for 25% below, I would honor the deal because that's the risk of an auction. You would have to be a real a-hole to back out just because you didn't get the price you hoped for. If a person was the kind of jerk who would do that, then just post it for sale and not an auction. If some a-hole did that on this board, I would hope he would be banned from selling again.
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Re: 25% Below Spot ??

Postby barrytrot » Wed Mar 14, 2012 8:04 pm

stevkc wrote:
IdahoCopper wrote:Who here would willingly sell their silver at 25% below melt/spot? I'm not looking to buy, just asking.

I'm also curious how this conversation might go.


I wouldn't, maybe war nickels.

Except that if I ran an auction without a reserve and it went for 25% below, I would honor the deal because that's the risk of an auction. You would have to be a real a-hole to back out just because you didn't get the price you hoped for. If a person was the kind of jerk who would do that, then just post it for sale and not an auction. If some a-hole did that on this board, I would hope he would be banned from selling again.


+1
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Re: 25% Below Spot ??

Postby Chief » Wed Mar 14, 2012 8:15 pm

barrytrot wrote:
stevkc wrote:
IdahoCopper wrote:Who here would willingly sell their silver at 25% below melt/spot? I'm not looking to buy, just asking.

I'm also curious how this conversation might go.


I wouldn't, maybe war nickels.

Except that if I ran an auction without a reserve and it went for 25% below, I would honor the deal because that's the risk of an auction. You would have to be a real a-hole to back out just because you didn't get the price you hoped for. If a person was the kind of jerk who would do that, then just post it for sale and not an auction. If some a-hole did that on this board, I would hope he would be banned from selling again.


+1

:lol: What a circus the marketplace has become. An auction is an auction, rejecting bids is BS, even if stated. Why even have an auction?
Asking a manipulative question to gain support on friendly metals forum is even better.
Just deal like gentlemen, or just deal with established member with feedback.
I've never sold anything on here, but if I sold to a member with 5-10 pos. feedback, I'd be willing to ship first, if that is what completes the deal.
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Re: 25% Below Spot ??

Postby barrytrot » Wed Mar 14, 2012 8:20 pm

Chief, I disagree that the marketplace has become a circus. There are dozens of sales every day and they go well. I have personally done at least 100 deals here and will do a hundred more.

It's just these bad apples that we need to weed out!
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Re: 25% Below Spot ??

Postby Chief » Wed Mar 14, 2012 8:24 pm

I was just referring to this current drama BS.
I have had a positive experience with everyone that I've bought from here on Realcent.
I truly enjoy being a member here. Many like-minded folks, I believe. :D
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Re: 25% Below Spot ??

Postby barrytrot » Wed Mar 14, 2012 8:25 pm

Ah, understood Chief.

I totally agree.
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Re: 25% Below Spot ??

Postby slickeast » Wed Mar 14, 2012 8:28 pm

The person that sells silver at 25% below spot is the guy that holds up his end of a deal. If you don't want to sell something below what it is worth, set a reserve.
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Re: 25% Below Spot ??

Postby Chief » Wed Mar 14, 2012 8:29 pm

As long as we're coming clean here...
Barry, I'm sorry I backed out of your quitting smoking $10 for $10fv silver offer. I was ashamed of myself for not being about to do it and never posted again about it.
Thanks again for the offer. :)
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Re: 25% Below Spot ??

Postby knibloe » Wed Mar 14, 2012 8:46 pm

I thought that the thread was very odd when it was posted. Now that I know the rest of the story I understand the point behind the question.

1. Bad deal backing out of an auction.
2. Really bad deal trying to manipulate the forum.

I did one auction here. I made a small mistake by not clarifying the end time. I had two bidders thinking that they had won the auction. I felt terrible, and still do. I didn't set out to upset anyone and was very appreciative of everyone who understood.

That said, you made two deliberate decisions to choices to justify yourself. Two wrongs will never make it right.
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Re: 25% Below Spot ??

Postby agmoose » Wed Mar 14, 2012 8:47 pm

slickeast wrote:The person that sells silver at 25% below spot is the guy that holds up his end of a deal. If you don't want to sell something below what it is worth, set a reserve.

+1.

Backing out simply because you didn't get the price you wanted is simply dishonest and shady. It speaks volumes about ones character.....or lack thereof.
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Re: 25% Below Spot ??

Postby barrytrot » Wed Mar 14, 2012 8:49 pm

knibloe wrote:I thought that the thread was very odd when it was posted. Now that I know the rest of the story I understand the point behind the question.

1. Bad deal backing out of an auction.
2. Really bad deal trying to manipulate the forum.

I did one auction here. I made a small mistake by not clarifying the end time. I had two bidders thinking that they had won the auction. I felt terrible, and still do. I didn't set out to upset anyone and was very appreciative of everyone who understood.

That said, you made two deliberate decisions to choices to justify yourself. Two wrongs will never make it right.


Knibloe: Stop feeling bad right now. You made an honest mistake and worked to rectify it. No harm there. People make mistakes. When people with HONOR make mistakes they work to rectify and everyone is happy.
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Re: 25% Below Spot ??

Postby lewbo » Wed Mar 14, 2012 8:58 pm

I agree this is a odd thread. I almost bid on the auction that everyone knows this thread is about. You need to complete the deal. I am not sure what I would do if I would have won and this happened.
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Re: 25% Below Spot ??

Postby Cu Later » Wed Mar 14, 2012 11:28 pm

i would.
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Re: 25% Below Spot ??

Postby JadeDragon » Thu Mar 15, 2012 3:34 am

IdahoCopper wrote:Who here would willingly sell their silver at 25% below melt/spot? I'm not looking to buy, just asking.

I'm also curious how this conversation might go.


Badly for you it seems. :shock:
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
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Re: 25% Below Spot ??

Postby barrytrot » Thu Mar 15, 2012 7:11 am

IdahoCopper wrote:Seems like the consensus is that nobody who knows about the value of what they have would sell 90%, or 40% for that matter, for only 75% of spot.

What a surprise!


The consensus was and is: UNLESS they had put up an auction and the winner won it for that amount.
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Re: 25% Below Spot ??

Postby IdahoCopper » Thu Mar 15, 2012 10:38 am

Auction
Sent: Sun Mar 11, 2012 8:36 pm
From: IdahoCopper
To: Cent1225
11) The winning bidder is the highest posted bid before the auction closes. However, as in all Realcent transactions any seller may reject any bid or bidder for any reason, including no reason at all.

I am rejecting the results of this auction. Thank you for trying.


Cheers!
Greg

---------------------------------------

Re: Forty-six 90% & Ten 40%
Sent: Mon Mar 12, 2012 2:27 pm
From: Cent1225
To: IdahoCopper
Greg:
While you may be within the "rules" of the auction to reject a high bid for no reason, you are certainly not within the SPIRIT of an auction.

Here is where I stand.
You are about to get a negative rating with your PM to me posted, so everyone on Realcent can see that you backed out on the deal and provided me with no reason for rejecting the auction(other than "the rules" said you could give no reason).
I am also planning to open a thread in the Silver Bullion, Gold, & other Bullion Metals section about the circumstances surrounding this Auction so that other members can comment on what has happened

This is not, I repeat NOT a threat.

It is simply that I have read numerous posts that have discussed this topic before and the concensus is as follows:
If you have a specific price you are trying to get, put it in the Buy it Now Section and you get what you ask for, but nothing more.
If you want to try to reap the benfits of bidding to get a higher price, then you also take the risk that you may get less than what you want. That is how AUCTIONS work.
The thing is, you can't have it both ways. If you try, as you have with me, you will get called on it, as you are about to with me.

Next time, if you post an auction with no conditions, then accept the high bid, whatever it is and dont "wienie out" just because the rules let you.
There is an honor and trust element here on Realcent, in addition to the rules.

No CHEERS for this one.

PS. I will wait until Tuesday, March 13, 2012 to post the negative rating and your PM to me to give you the opportunity to respond to me in a PM about this auction. I look forward to your discussion to convince me that I have no basis for posting negative feedback or opening a discussion thread on this matter, based upon your action to reject my bid. I would like to think that you have an "honor and trust" element. Convince to me that you do.

-------------------------

Re: Forty-six 90% & Ten 40%
Sent: Mon Mar 12, 2012 2:39 pm
From: IdahoCopper
To: Cent1225
Excuse me?

The auction closed at 5:00pm Eastern.
Check your bid, you placed it at 5:59pm.


To avoid error and confusion, I changed my profile to show me Eastern Time for everything posted here. Perhaps you should do the same?

Click User Control Panel - - Board Preferences - - My Timezone


Cheers!
Greg

----------------------------

Re: Forty-six 90% & Ten 40%
Sent: Mon Mar 12, 2012 9:27 pm
From: Cent1225
To: IdahoCopper
First you tell me that you have rejected my bid(because you can by the rules). LAME.
Then you tell me that my bid was too late. (Sorry, my post says 4:59 pm March 11.) I have a hard copy of that.

So that brings YOU to the next step.

Even if I by some odd chance my bid was late ??, that makes Rainsonme the winner at $310 at 3:42pm.
Now I have talked with him and he thought that I won the auction. I told him that you said I did not. That makes him the winner.
He said that you have not contacted him to let him know that he is the winner.

That brings up four questions:
1). Are you just not going to contact Rainsonme to tell him he is the winner?
2). Just wondering if you are going to use some excuse on him to tell him that he didn't win either?
3). If somehow you find a way to exclude Rainsonme as the winner, is Scrapman1077 the winner at $300 ?
4). Do you just intend to bail out of this deal and expect the Realcent members to just accept this?

Brings me back to my originaly point. Convince me of your honor and integrity in this deal.

---------------

Re: Forty-six 90% & Ten 40%
Sent: Mon Mar 12, 2012 9:46 pm
From: IdahoCopper
To: Cent1225
Your bid was 59 minutes late. You can easily verify that by changing your timezone setting to Eastern, then re-visit the thread to check the time stamp on your post. That is the correct time, not your hard copy.

That issue is all I will discuss with you. Go ahead, verify the timestamp and get back to me. Thank you.

-------------------

Re: Forty-six 90% & Ten 40%
Sent: Tue Mar 13, 2012 12:26 am
From: Cent1225
To: IdahoCopper
Looking to verify the time of the bid, I asked "THE POWERS THAT BE" who administer this sight.
The reply I received is as follows:
"Your bid was at 5:59 PM Eastern Daylight Savings. Technically IC stated 5 PM Eastern Standard, which would mean 6 PM Eastern Daylight, so your bid should have been valid. He probably didn't think about it that way."

Now that it is established that my bid was a valid bid, how would you like to handle this transaction ?
Paypal works for me, how about you?

-------------------------

Re: Forty-six 90% & Ten 40%
Sent: Tue Mar 13, 2012 12:50 am
From: IdahoCopper
To: Cent1225
Your bid was rejected. It still is. I will not sell silver for only 75% of spot.

--------------------

You have received new feedback
Sent: Wed Mar 14, 2012 8:53 pm
From: Cent1225
To: IdahoCopper
You have received new negative feedback from Cent1225
- - - -
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Re: 25% Below Spot ??

Postby ThePowersThatBe » Thu Mar 15, 2012 10:43 am

All of the information is there. Everybody can draw their own conclusion. Let's move on.
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