Modern Coin Mart Auctions: Shill Ebay Bidders?

Discussion in 'Modern Chinese Coins & Medallions' started by Catseye, Oct 15, 2012.

  1. Catseye

    Catseye New Member

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  2. jc888888888

    jc888888888 New Member Silver Stacker

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  3. Ryaneod

    Ryaneod New Member

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    Wow, interesting read.
     
  4. jc888888888

    jc888888888 New Member Silver Stacker

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    thats why i like silver stacker auctions :) VERY transparent!
    thanks everyone..........
     
  5. Reggie Perrin

    Reggie Perrin New Member

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    This is why I prefer to snipe right at the end of an auction.. I got burnt a while ago by someone retracting their bid after they had worked out what my max bid was (The auction had nothing to do with coins).

    Plus someone must really want the coin if they place a maximum bid of $15k on a coin when the current highest bid is only a couple of thousand. I'm not sure that's very sensible??

    (BTW: +1 to the transparency of SS auctions and other sales)
     
  6. silverfever

    silverfever New Member

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    Don't know if its just me but I have got some pretty good deals from MCM auctions.
     
  7. The Grifter

    The Grifter New Member

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    MCM is a legit company that does not have any part in shill bidding.
     
  8. Ryaneod

    Ryaneod New Member

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    No offense but this is very suspect. How are you making a claim like that with nothing to back it up? I mean if there are lots of bids that are then withdrawn and the person is only bidding on MCM things and not following through with them, it seems pretty suspect.

    FYI - if you are with MCM you might want to toss that disclaimer on.
     
  9. moderncoinmart

    moderncoinmart New Member

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    Any claims that Modern Coin Mart participates in shill bidding are absolutely 100% false. Shill bidding is against eBay policy and is illegal in many places. Shill bidding is an ugly practice and anyone who has dealt with Modern Coin Mart knows that this is not the way we run our business. We always follow eBay's policies to the letter to ensure that our customers receive an opportunity to win our items fairly. Additionally we have strict policies in place that prohibit employees and their families from bidding on any Modern Coin Mart eBay items. Even our company manual clearly states that shill bidding is prohibited and every employee is required to sign this.

    We have dealt in Pandas for several years. At the past ANA show in Philadelphia this August, we purchased a large collection of gold Pandas. We sent the coins in to NGC to be graded and decided to sell entire group on eBay. Each auction started at 99 and every bidder had an equal opportunity to bid and win the coins. There is no connection between the winning bidders and Modern Coin Mart.

    We have informed eBay that these damaging allegations have been made against our company and referred them to this thread.

    Thank you,

    Hayden Tubbs

    MCM eBay Team Manager
    Director of International Sales
     
  10. silverfever

    silverfever New Member

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    I tend to agree with MCM. If shill bidding is involved how do 2012 Ana Medals are now selling in the low $100s now on MCM auctions?

    No offence to CCF but there are a lot of conspiracy theorists in that forum.

    If you look at some of the so called shill bidder history, that new guy's feedback actually has quite a few completed transactions in the thousands of dollars.

    Disclaimer: I do not work for MCM or any of its affiliates. Just giving my 2 cents for what its worth.
     
  11. silverfever

    silverfever New Member

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  12. digoxin

    digoxin Member Silver Stacker

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    I think the issue here is the buyer rather than MCM. There are a legit company but there so happens to be a big whale buying up stuff. The above buyer has feedback from several longstanding ebay MCC sellers.
     
  13. Ryaneod

    Ryaneod New Member

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    I am still not convienced, from the China-Mint Forums, this is VERY suspicious.

    The bold part is what I question the most.
     
  14. silverfever

    silverfever New Member

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    If shill bidding is in fact involved. How do we know its not a concerted part of dealers from mainland China who are not using this shill bidders to drive up the market price on these coins so that they can show their prospective buyers in China about how high ebay prices are?

    IMHO MCM, indywest coins, stampandcoinplace, logicpapa, shcoins, coinworld13 and silvertowne (I have been a customer of all of them) are just innocent bystanders in all of these shenanigans.
    All these fine retailers above have sold coins to the alleged shill bidders
     
  15. Reggie Perrin

    Reggie Perrin New Member

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    Hi Hayden of ModernCoinMart, welcome to the forum.

    After this weekends outage here at SilverStackers I'm sure GP would welcome another site sponsor?

    Plus some of us aren't so keen on your Panda and other custom NGC labels, would it be possible for you to offer more Pandas with the vanilla brown NGC label please... especially with the 2013 Panda hunting season starting soon?

    (If you search for your company on this forum you'll find as many positive comments about MCM, as you will negative.. so you won't be flamed by us)
     
  16. Ryaneod

    Ryaneod New Member

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    I don't believe the people over at China-Mint.info are "flaming" I believe the points they bring up are valid and if someone isn't paying for bids, why keep allowing them to bid, and then get upset and become very strong handed when people question it? I mean we are talking big money here. I for one would like them to answer the questions . . . .
     
  17. Reggie Perrin

    Reggie Perrin New Member

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    ^ Hi Ryaneod, for the record, I never said they were

    cheers
     
  18. Ryaneod

    Ryaneod New Member

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    Sorry mate, didn't mean to put words in your mouth then. It just really pisses me off is parts of this are true as I have bought stuff from them, a few times and makes me wonder what if now . . . .
     
  19. fishball

    fishball New Member Silver Stacker

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    MCM uses stock pictures. Wouldn't be that much of a stretch that r***n ( 251 ) wants both coins?

    I've bought from MCM a few times... they are clearly a large business and for them to shill a couple of thousand dollars in bids seems stupid and unlikely.

    My 2c.
     
  20. silverstar1

    silverstar1 New Member

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    I am not sure what to say about the issue with MCM , I would probably give them the benefit of the doubt and assume if there is shady business going on here it is more likely with the buyers like mentioned above . I have in the last couple months though had bidders with (especially one in particular) with private feedback bid my auctions way up some with many other bids, win the item and then say they made a mistake and do not want to pay, then my whole auction is ruined , money I was counting on and everything . I do not know if this is a conspiracy to make it look like these coins are selling for more but it is very suspect and ticks me off I really wish ebay would find a way to make people put their money where their keyboard is or ban bidders that keep cancelling after winning because to me this is just ripe for manipulating the market by makeing it appear that coins are selling for much more when they really are not completed and they can keep continuing this practice with no consequences. Has anyone else had experiences with this lately or is it just me?
     

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