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Epay insanity. Coin still available at shop sells for $ 510.00


haysonics

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You read it here first folks :rolleyes:

 

10 YEARS OF GEOCACHING, 3", black nickel, L.E., 100 minted

 

Item number: 250689586898

 

IS STILL AVAILABLE from the shop yet JUST SOLD FOR $510.00 on Epay.

 

It is HIGHLY recommended that newbs to do a google search before bidding on geocoins. Epay sellers will often tell you the name of the shop a coin was bought from in their item description (which was done on this auction).

 

:laughing:

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You read it here first folks :rolleyes:

 

10 YEARS OF GEOCACHING, 3", black nickel, L.E., 100 minted

 

Item number: 250689586898

 

IS STILL AVAILABLE from the shop yet JUST SOLD FOR $510.00 on Epay.

 

It is HIGHLY recommended that newbs to do a google search before bidding on geocoins. Epay sellers will often tell you the name of the shop a coin was bought from in their item description (which was done on this auction).

 

:laughing:

 

ebay...ebay

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OH MY GOSH!!!

 

It is amazing to see people pay this.

 

The bad thing is poeple enjoy the thrill of the war.

 

To each his own on bidding.

 

I fell bad when people bid high on my auctions.

 

Sometimes i send extra items and i have told people to stop bidding because they can buy online and they kept going due to the thrill.

 

It is nice to make a little money so i can afford to fund all the events i host and it helps take care of my geocaching needs since my life is the way it is.

 

But 500 is just plain out CRAZY!!!!!!!!

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Heehee..... looks like gold fever struck the last two dueling bidders.....$25.03 went to $290 raised to $500 and finally $510 was the winning bid. The good news is the seller is Ernie the coin's maker... THAT covered a few of his expenses!!!

 

This is a mistake where someone forgot the "." point. Easy to see that the bids should have been $29 and $50.

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But there were 2 bidders. Did both make the same mistake ? Me thinks not young grasshopper !

Heehehehe..... with a feedback score in excess of 6000 it's rather cute to consider AG as "grasshopper" and a misplaced decimal makes a whole lot more sense with a coin with a BuyMeNow tag of $28. :laughing::rolleyes:

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I can't believe 2 bidders misplaced a decimal point. BTW, that auction did not have a $27.99 buy it now. That is another seller.

 

But even if I did believe 2 sellers misplaced the decimal point, that would mean the 2nd highest bidder meant $50.00 but places the decimal point after the 2nd zero which would look like 500.0 which ebay would translate as 500.00 This mistake would have been made 3 times in that auction. That is pretty unlikely. What normally happens is that folks forget to add the decimal point. If that had happened the bids would have lookled like $2900, $5000 and $5100. That didn't happen yet is the more likely mistake.

 

Nup, still not buying it Padewan Droo :laughing:

Edited by haysonics
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I just had 2 regular edition ZZ's go for $22-23 ea. The waiting list price is $11! The buyer collects turtle coins, of any type (not just geocoins). So I think what happens on eBay is you occasionally (and unintentionally) tap into a new market.

 

But more often then not it's likely just crazy collector fever!

Edited by Zelanzy
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I can't believe 2 bidders misplaced a decimal point. BTW, that auction did not have a $27.99 buy it now. That is another seller.

 

But even if I did believe 2 sellers misplaced the decimal point, that would mean the 2nd highest bidder meant $50.00 but places the decimal point after the 2nd zero which would look like 500.0 which ebay would translate as 500.00 But it is more likely that someone would forget to add the decimal point. If that had happened the 2nd highest bidder meant $50.00 but writes $5000. That didn't happen yet is the more likely mistake.

 

Nup, still not buying it :laughing:

 

He (or she) could very well have typed in $50.00 but forgot the decimal. Yes it would have gone in as $5000, but we only see the winning bid, which was $510

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I suspect the answer is a bidding war by 2 people who could have easily read "ernies" in the description and googled "ernies geocoin" to see what comes up.

 

My advice to newbs is to see if a ebay description mentions the shop the coin is/was sold through. If it doesn't they can do a search on ebay using the coin's name and see if anyone else is selling it and then read those other descriptions to see if the shop is mentioned. If it is then they can google the "shop name" + "geocoin" and find the shop. This works and can save folks $$$

 

If there is no shop mentioned then just google "coin's name" + "geocoin" and look for a link to a shop (aka ignore all the Groundspeak hits as they probably relate to logs)

Edited by haysonics
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I can't believe 2 bidders misplaced a decimal point. BTW, that auction did not have a $27.99 buy it now. That is another seller.

 

But even if I did believe 2 sellers misplaced the decimal point, that would mean the 2nd highest bidder meant $50.00 but places the decimal point after the 2nd zero which would look like 500.0 which ebay would translate as 500.00 This mistake would have been made 3 times in that auction. That is pretty unlikely. What normally happens is that folks forget to add the decimal point. If that had happened the bids would have lookled like $2900, $5000 and $5100. That didn't happen yet is the more likely mistake.

 

Nup, still not buying it Padewan Droo :)

The part I find fishy as a cannery (and those DO stink to high heaven) is the lack of bids between $25.03 and $290. First someone had to have made that their highest bid and someone else had to have felt around to find that highest bid and made theirs almost twice as high. When twice as high is a matter of a few bucks it's not big deal but several hundred bucks is another matter. In this case the bidding history does not make sense and does not support the kind of bidding that would lead to such numbers in a matter of a couple of minutes.... the psychology doesn't add up for such extreme bids taking place in a little more than 100 seconds. Just my 2 bits worth.

Edited by Droo
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I see your point. The bid was sitting at $25.03 for days and then :

 

On 5 Sept i***i comes on the scene at 11:32am with a maximum bid of $500.

 

Ebay automatically bids for i***i and the auction moves up to $26.03

 

1 minute later at 11:33 i***4 appears with a maximum bid of $290

 

That is automatically trumped by i***i initial maximum bid of $500 and the auction moves up to $295

 

1 minute later at 11:34 i***4 returns with a bid which we know is at least $510 as he wins the auction.

 

Three real (not auto) bids over the space of 3 minutes after 5 days of quiet AND the bids are out of proportion to what is being sold and the bid history up to that point.

 

Indeed, either something fishy went on or the bidders went all-out against each other without realising that the winner was going to end up a looser due to the $$$

Edited by haysonics
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Am I the only one that actually buys stuff on Ebay here? ;) I can't tell you how many times I've bid on an item, and thought, hmmm, that's $50 item, and it's only at $10. I'll just put $100 on it, cuz I'm leaving for the store (or vacation, or the zoo, etc.) and I won't be home when the auction closes. I'll be the high bidder by a mile, and no one will even come close, even if they bid last minute.

 

And then, bam, I'm outbid at $105. So, being irked, I just slam in $200, cuz I'm sure the high bid must be only $105. And whaddya know, the other bidder had done the same thing, and pretty soon, that $50 item is at $200. For me, it's the rush of the moment, and I know it's stupid. But, it happens, it's rare. And shocking. But, certainly not unheard of. I see it maybe once every 2-3 months.

 

There's my 2 cents. :)

 

TMA

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Am I the only one that actually buys stuff on Ebay here? :D I can't tell you how many times I've bid on an item, and thought, hmmm, that's $50 item, and it's only at $10. I'll just put $100 on it, cuz I'm leaving for the store (or vacation, or the zoo, etc.) and I won't be home when the auction closes. I'll be the high bidder by a mile, and no one will even come close, even if they bid last minute.

 

And then, bam, I'm outbid at $105. So, being irked, I just slam in $200, cuz I'm sure the high bid must be only $105. And whaddya know, the other bidder had done the same thing, and pretty soon, that $50 item is at $200. For me, it's the rush of the moment, and I know it's stupid. But, it happens, it's rare. And shocking. But, certainly not unheard of. I see it maybe once every 2-3 months.

 

There's my 2 cents. :)

 

TMA

 

TWO HUNDRED DOLLARS??? No wonder I can't get one of those Lotus Compass coins!!! ;)

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Am I the only one that actually buys stuff on Ebay here? :ph34r: I can't tell you how many times I've bid on an item, and thought, hmmm, that's $50 item, and it's only at $10. I'll just put $100 on it, cuz I'm leaving for the store (or vacation, or the zoo, etc.) and I won't be home when the auction closes. I'll be the high bidder by a mile, and no one will even come close, even if they bid last minute.

 

And then, bam, I'm outbid at $105. So, being irked, I just slam in $200, cuz I'm sure the high bid must be only $105. And whaddya know, the other bidder had done the same thing, and pretty soon, that $50 item is at $200. For me, it's the rush of the moment, and I know it's stupid. But, it happens, it's rare. And shocking. But, certainly not unheard of. I see it maybe once every 2-3 months.

 

There's my 2 cents. :)

 

TMA

 

TWO HUNDRED DOLLARS??? No wonder I can't get one of those Lotus Compass coins!!! :D

 

Well, I used to bid that on a regular basis for coins ;) See, back in the day, I had the sickness bad. I had piles of Ebay packages showing up in the mailbox daily. And boxes and boxes from vendors. And yeah, I used to bid crazy, and looking back, I think I was a fool. But, I loved it, and it was my personal vice.

 

Nowadays, I don't bid much on coins. But, it's not a secret I'm very familiar with the Ebay site, and the geocoins that are listed there. So I see people just like I was, getting their feet wet by dunking their whole body B)

 

TMA

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I can't believe 2 bidders misplaced a decimal point. BTW, that auction did not have a $27.99 buy it now. That is another seller.

 

But even if I did believe 2 sellers misplaced the decimal point, that would mean the 2nd highest bidder meant $50.00 but places the decimal point after the 2nd zero which would look like 500.0 which ebay would translate as 500.00 This mistake would have been made 3 times in that auction. That is pretty unlikely. What normally happens is that folks forget to add the decimal point. If that had happened the bids would have lookled like $2900, $5000 and $5100. That didn't happen yet is the more likely mistake.

 

Nup, still not buying it Padewan Droo :)

The part I find fishy as a cannery (and those DO stink to high heaven) is the lack of bids between $25.03 and $290. First someone had to have made that their highest bid and someone else had to have felt around to find that highest bid and made theirs almost twice as high. When twice as high is a matter of a few bucks it's not big deal but several hundred bucks is another matter. In this case the bidding history does not make sense and does not support the kind of bidding that would lead to such numbers in a matter of a couple of minutes.... the psychology doesn't add up for such extreme bids taking place in a little more than 100 seconds. Just my 2 bits worth.

The bid history will not show all the interim automatic bids. If the highest was 25.00 and someone put in max. 500, then it would have raised the bid in one inchement($2.50??), if someone else then put in a max amont matching the 500, it would have skipped all the interim bids and jumped to the forst persoms 500, then person 2 came back and entered 510. I think that's how it would work.
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Am I the only one that actually buys stuff on Ebay here? ;) I can't tell you how many times I've bid on an item, and thought, hmmm, that's $50 item, and it's only at $10. I'll just put $100 on it, cuz I'm leaving for the store (or vacation, or the zoo, etc.) and I won't be home when the auction closes. I'll be the high bidder by a mile, and no one will even come close, even if they bid last minute.

 

And then, bam, I'm outbid at $105. So, being irked, I just slam in $200, cuz I'm sure the high bid must be only $105. And whaddya know, the other bidder had done the same thing, and pretty soon, that $50 item is at $200. For me, it's the rush of the moment, and I know it's stupid. But, it happens, it's rare. And shocking. But, certainly not unheard of. I see it maybe once every 2-3 months.

 

There's my 2 cents. :)

 

TMA

Haha, I've done a similar thimg, which I consider a sort of reverse gambling. i see a low item I want, but usually sells for MUCH more then I'm willing to pay. I'll bid way over my desired buying price(pokink around to see how high I can get to JUST become the current winner), and then hope for the rest of the week that the auction goes like normal and someone outbids me. Sometimes I do it to make the competition pay as much as I can make them. That's what they get for buying the things I wanted for cheap...if it backfires, that's the gamble and I lose(But I still get the zonk prize)

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Some short info:

 

Ernie told me, the biddings are fakes, an attack for a bad assessment by ernie. :)

There is no way to get this money.

So all can keep their coins, no way to become shortly very rich. ;)

 

Thanks for the info ! That explains the close timing of those bids. I hope ernie issues a Non Payment to the "winner" so that ebay can try and isolate the individual. Not sure exactly how it works as I signed up for an account a decade ago. Can't remember if I had to supply credit card details. Considering ebay owns paypal it's probably not wise to try and dupe them out of a fat commission.

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Haha, I've done a similar thimg, which I consider a sort of reverse gambling. i see a low item I want, but usually sells for MUCH more then I'm willing to pay. I'll bid way over my desired buying price(pokink around to see how high I can get to JUST become the current winner), and then hope for the rest of the week that the auction goes like normal and someone outbids me. Sometimes I do it to make the competition pay as much as I can make them. That's what they get for buying the things I wanted for cheap...if it backfires, that's the gamble and I lose(But I still get the zonk prize)

 

I interpret this to mean that if you see an item that you want you bid over your desired buying price in order to win the prize or (if you arn't successful) to make the winner pay a high price for something you want. In that sense its a win/win scenario for you. I think most people do that. I doubt you see any of your winnings as zonk prizes cause you have already told us you bid on items you want. Would I be correct to think you only bid on items you want?

Edited by haysonics
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Bidding advice for newbs (assuming you have missed out getting a coin at a shop)

 

If you see an item you want work out the maximum amount you would feel comfortable paying for it and place your bid for that amount within the last 10 seconds of the auction. The benefit of this strategy is twofold. 1- You avoid personal competition with people which means other bidders may compete amongst themselves but you won't have added to the price yourself until the last moment. This is a good thing if you are going to end up having to pay for the item. You may loose an auction but that will be because someone has paid more for an item than you were prepared to. 2 - You will win some coins cheaply but others will cost you your maximum amount. In the long run the cost will average out to ebay average market value. That average should increase over time. Its not a guarantee but if you were aiming to make money you would buy coins from shops at shop prices. You are buying off ebay cause you want to own particular coins you missed out on at shops. As you are a newb that will be a lot of coins so the best you can do is average price and hope for a long term increase in value. DO NOT play the bidding war game yourself. Stay out of it and bid right at the end. Auctions are mostly of benefit to sellers. It's rare you will win a decent coin at auction for less than it originally sold for at a shop. That's why ebay makes so much money. Ebay doesn't make you place multiple bids or bid before the last 10 seconds so don't. Its not poker. You can't bluff cause you are not holding any cards (only your wallet). You don't win the losers money. The loser doesn't pay anything, only the winner, and you hope that is going to be you. The value of the "prize" doesn't increase through bidding (only its cost to you). It's a coin not an increasing pot. "Crazy ebay prices" often occur because people think ebay is a like a poker game and employ poker strategy.

Edited by haysonics
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Also... remember a lot of ebay regulars also use something such as auctionsniper (I do.....)

 

Basically with ebay - I'm cheap - and I will wait for the right deal, and I have a well established price of what of I am willing to pay, if I don't get it - no biggie. I am wanting to pay a good price, and rarely am I desperate to grab something.

 

The last "big" thing I used ebay for was bicycle parts - took 4 months to get what I wanted, but, most things I was able to nab at 30% less than the average selling price.

 

I have purchased a few coins from ebay also - and several times have ended up paying less than the origonal cost!

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Haha, I've done a similar thimg, which I consider a sort of reverse gambling. i see a low item I want, but usually sells for MUCH more then I'm willing to pay. I'll bid way over my desired buying price(pokink around to see how high I can get to JUST become the current winner), and then hope for the rest of the week that the auction goes like normal and someone outbids me. Sometimes I do it to make the competition pay as much as I can make them. That's what they get for buying the things I wanted for cheap...if it backfires, that's the gamble and I lose(But I still get the zonk prize)

 

I interpret this to mean that if you see an item that you want you bid over your desired buying price in order to win the prize or (if you arn't successful) to make the winner pay a high price for something you want. In that sense its a win/win scenario for you. I think most people do that. I doubt you see any of your winnings as zonk prizes cause you have already told us you bid on items you want. Would I be correct to think you only bid on items you want?

Yes, but it would be a zonk if I won because I will have to pay more than I want to. If I see an item I only want to pay $40 for, and I try to see how high the other person went, I COULD end up paying $100, so I've esentially gambled away the extra $60. So far, I've always been outbid.

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Hello,

 

I am new to purchasing geocoins...and, yes, I have been on ebay looking for them. I have done a google search for geocoins, and no shops have come up. What are some suggested online shops? What is a typical price for a coin? I am a total newbie! Please help...

 

Recommending certain geocoin vendors is frowned upon in the forums but try a google search for geocoins again. I just did the search and several vendors were on the first page.

 

There is also a list of vendors here:

 

http://forums.Groundspeak.com/GC/index.php?showtopic=116800

 

Typical prices can be anywhere from $5 to $12 (and more), depending on the size, whether it's 2D or 3D, etc.

Edited by Mauison
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Hello,

 

I am new to purchasing geocoins...and, yes, I have been on ebay looking for them. I have done a google search for geocoins, and no shops have come up. What are some suggested online shops? What is a typical price for a coin? I am a total newbie! Please help...

Lots of useful info on the Geocoin Home page under the Trackables tab on Geocaching.com.

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