For any of you who don't frequent the PCGS boards...

Superior Auctions made a BIG Booboo!
Link to PCGS topic

A little over 200,000 dollars in coins for 51.00 plus shipping

OUCH!

So I guess they are going to be hiring at Superior soon?

Now comes the question, what if you were one of those who won an auction and then had their money refunded? Would you fight it? I sure would. Not because I'm greedy but as a "professional" business they should act as such. I bet if I meant to put $15.00 and accidentally put $150.00, they would have a big problem with it. You list an item for a certain price and someone buys it, tough luck. Learn from your mistakes (I guess this has happened before) and move on. They entered a contract and should honor it.

Interesting reading.
I wonder if anybody is going to follow thru.

I doubt it. Most of us who did purchase did so simply to end the auction before anyone who would push it could buy them.

Jim

May sound strange, but Superior ought to think about honoring the bids. Even those bids of people who just did it to stop the bidding. I don't know the finances of Superior, but to me this is and could be some very good advertising. As in we stand by our sales. Do you remember all the news stories on Golden Palace Casino after they bought the "faces". Each time they did they got media coverage for days at end. There were estimates of millions of dollars of prime "public" time. The Casino even came out once and said as much. And they still are its just not attracting the same attention because the faces seem to be falling out of trees now.

Good advertising, maybe as far as buyers are concerned. But, Superior is mainly an auction venue in their own right. Their inability to handle a simple Ebay sale would hardly inspire trust from any propective consignors.

On the other hand, simply stepping up and fullfilling the sale might make it all go away before too many future consignors hear about it.

All in all, if they wanted to go ahead with the sale, I would accept my coins and say Thanks, but I am just as ready to let them off the hook.

Forgot about it could be a consignment. I can imagine "You sold my coin for WHAT?"

I wish I had seen the auctions and won them. I would want the coins. I agree with Burks it has nothing to do with being greedy, it has to do with once a buyer clicks the option to BIN, on ebay it specifically says you are entering into a contract with the seller to purchase that item.

It's sad that the auction was listed improperly, but don't blame a buyer for buying the item, blame the employee who just cost you thousands of dollars!!!!!

I don't know what to say except I wasn't lucky enough to bid on them.

And it wasn't just a handful of auctions either. Something around 50 or so auctions were listed for $1.00 BIN. That isn't a mistake, that's just carelessness. Most people have already had their money refunded. That might be one time I'd call a lawyer.

Maybe I'm weird, but I couldn't hold someone to a price like that when it's obviously a mistake. A mistake like that could be catastrophic for a company. Nope, no way could I live with myself if I ended up with someone's property that way.

Indeed, it's a bit unfair. There was two major OOPS in the stock market this year in Japan. A single stock valued at 300,000 yen was ordered to be sold was instead input at 300,000 of such stocks sold for a single yen. In the end, the company made a loss of over 300 million USD in just that single transaction if I am not wrong.

Appearently, JP morgan was one of the lucky b@s!@#$