If you want a steal

[Sullysullinburg]

http://pages.ebay.com/link/?nav=item.vi ... 1260123445



Legit???

[brian0918]

Why is it a steal?

[Morsecode]

This is for an ebay "live" auction. Not sure exactly how they actually work, but I'm pretty sure I don't have time to travel to CA to pick up my coin.

[natsb88]

It's a live auction event. You can place pre-bids now but the bidding doesn't move until the live on-site auctioneer actually gets to that item during the live auction. Then they take bids from the floor and somebody at the auction is on a computer updating the bids as they come in, so you can bid through eBay as well. If you pre-bid eBay will proxy bid for you up to your maximum bid. Or you can sit there while it's happening and hit the "bid" button to bid what the auctioneer is asking. Usually bidding is all over in 1 minute or less. There is a buyer's premium on these, higher than if you were at the auction bidding in person, so you pay more than your bid. Plus you have to make payment and shipping arrangements directly with the auctioneer, it's not something invoiced/handled in the normal eBay sense.

Online bidding for a live auction event is great for buyers when there are one-of-a-kind items far away, or only one or two items at a nearby auction that you are interested in and don't want to spend the whole day there. But prices for common coins and bullion tend to go to the high side at these to start with, plus tack on a 17% buyers premium and the hassle of payment and shipping arrangements...