> I have no problem with presell auctions.I have tried them,and are happy
> the results.I think there is a strong chance that most pwople who are
> objecting to them have never participated in one.
I have participated in presell auctions, too, both buying and selling.
However, at some point a presell auction turns into a financing scam. If
the mint takes people's money for Brass Buck rolls in January and doesn't
deliver until April, it is still reasonable to assume that the mint will
have the financial stability to deliver the product.
Similarly, when an individual uses a presell auction to know how much money
to shell out on a special trip to the wholesalers, the expectation is that
by being able to closely control his inventory, he will be able to deliver
in the immediate future. Even if he's just starting out and is using his
customers' money for the first few trips, this is not necessaily bad, in and
When someone presells a piece of furniture that they're going to inherit
when grandpa dies, which could be twenty years from now, the complexion of
the transaction changes. Who is this seller, anyway, and is he even going
to remember me 20 years from now? After all, it's not like you need to go
through a major credit examination and an ethics course at the local
seminary to become an ebay seller.
Likewise, when someone offers hundreds of thousands, or even milllions, of
dollars worth of circulating coinage at 2/3 of face value for delivery a
year or so in the future, it is certainly legitimate to question whether
that seller will be able to meet his commitments when it's time to deliver.
Will he be alive? Findable? Will he be able to get the product? Will it
even be offered in the form which he has promised to deliver it? Will he
have the money to pay for it if it is? Is there some greater power, like an
insurance bond, guaranteeing delivery?
There are many snail mail and brick-and-mortar scams that have been modified
for use in the ***world. Promising people wonderful returns on their
money and then disappearing with that money is certainly one of them.
As such, it not a bad idea that ebay set some practical limits on presells,
and it wouldn't necessarily be all bad to ban them completely.
After all, how do you even leave negative feedback if you don't realize
you've been screwed until the feedback period is over?
Good Grief. If you're bored, here's your own personal 2d animator.
It's an amazing piece of work: