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When flat bids are not mentioned in terms

May 1, 2017 in Auctions, Coins, Coins for sale, Collecting, Education, News, Numismatica, Numismatics, Opinion

By: Michael Bugeja News.CoinUpdate.com (Coin Update News)

I’m an experienced online coin buyer, blogger, and numismatist, and even I get caught on occasion when auctions do not mention flat bids in their terms of service, which I always read.

In an April 23 session on HiBid.com, there was no mention whatsoever that an online catalog was programmed to take flat bids—an amount that serves as both the opening and maximum bid all in one.

Case in point: If you state $100 for a coin lot, that becomes the starting bid. You will win that coin for that amount if no one else bids. In an online session that closes… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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