Modern Coin Mart Auctions: Shill Ebay Bidders?

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)
 
The Grifter said:
MCM is a legit company that does not have any part in shill bidding.
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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 I mean if there are lots of bids that are then withdrawn and the person is only bidding on MCM things and not following through with them, it seems pretty suspect.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.
 
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
 
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.
 
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.
 
I am still not convienced, from the China-Mint Forums, this is VERY suspicious.

From Birdman - 1990 SD G1/2 NGC 3589148-043"won" on Sep 30 at $1675

http://offer.ebay.com/ws/eBayISAPI.dll?ViewBids&_trksid=p2047675.l2565&rt=nc&item=130770707219

r***n ( 251 ) US $1,675.00 Sep-29-12 14:55:02 PDT

1990 SD G1/2 NGC 3589148-043 (same serial number) "won" one on Oct 14th.

http://offer.ebay.com/ws/eBayISAPI.dll?ViewBids&_trksid=p2047675.l2565&rt=nc&item=140860805192

t***n ( 35 ) US $2,185.00 Oct-14-12 18:42:08 PDT
r***n ( 251 ) US $2,160.00 Oct-09-12 15:04:07 PDT

Note that the "losing" bidder on this same coin 1990 G1/2 SD NGC 3589148-043 the second time around was the same person who "won" the previous week. First of all, why is the same serial number slab being offered again. If r***n (251) didn't pay for it, then why wasn't he blocked by the seller. And guess who "won" this time (t****n(35)) the same character who was submitting $20,000 bids and retracting them and driving up the prices of the other auctions. I would be interested in MCM responding to help clarify what is going on here. They should have inside knowledge on this coin, since they are the one that listed it twice. Things just seem to be a bit intertwined and foul smelling hereI'd spend more time digging in to sort it out but I've already wasted too much time on this nonsense. I'll just choose not to do business with them and I'll warn others to put their radar up
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The bold part is what I question the most.
 
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
 
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)
 
Reggie Perrin said:
(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)
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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 . . . .
 
Reggie Perrin said:
^ Hi Ryaneod, for the record, I never said they were

cheers
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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 . . . .
 
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.
 
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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