Mound City Auctions

[TheMightyJohn]

Hey just wanted to know if these guys are legit? Anyone have experience with them? I wasn't able to find much on google. Noticed a few low grade silver keys at decent prices.

 

www.moundcityauctions.com

 

 

[comicalgems]

Dude they ran a huuuuuuuuge auction a couple of years ago. Lots of keys from an original owner collection. Some graded before sale and probably none pressed.

 

You'll have to do some digging unless BUTM is feeling generous with a link.

[TheMightyJohn]

Ill see what I can find on it. Do you recall are they one to be trusted?

 

Im looking at a few slabbed keys, low grade but I figure I they can be had at a good price Hell the Avengers 1 and 4 are pretty low right bids now and they have multiple copies. Most of the raw books look over graded imo.

[namisgr]

Yes, they can be trusted.

 

In their first comic auction, however, they botched the shipping aspect.

[BlowUpTheMoon]

Dude they ran a huuuuuuuuge auction a couple of years ago. Lots of keys from an original owner collection. Some graded before sale and probably none pressed.

 

You'll have to do some digging unless BUTM is feeling generous with a link.

 

Mound City Collection One of the Greatest Silver Age Finds of the Century

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Board=4&Number=3991142&Searchpage=1&Main=191152&Words=%2Bmound+DiceX&topic=0&Search=true#Post3991142

 

[comicalgems]

Dude they ran a huuuuuuuuge auction a couple of years ago. Lots of keys from an original owner collection. Some graded before sale and probably none pressed.

 

You'll have to do some digging unless BUTM is feeling generous with a link.

 

Mound City Collection One of the Greatest Silver Age Finds of the Century

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Board=4&Number=3991142&Searchpage=1&Main=191152&Words=%2Bmound+DiceX&topic=0&Search=true#Post3991142

 

There you have it. BUTM swooping in with his awesome search skills.

[bluechip]

I was bidding online and didn't realize they were allowing the owner to bid AND to withdraw his bids, so after the owner bid me up numerous times and I finally stopped bidding, the owner was allowed to withdraw his bid. So, after thinking I was outbid, I got an email saying I'd won. I inquired what happened and then, when it was explained to me, I complained that I didn't have good reason to consider the owner's bids in good faith if he was allowed to bid me up without any fear he'd end up losing the sale, because they let him withdraw his bid. The guy from the auction house claimed I could have withdrawn my bid, as well, and that their online bidding selections made that easy. When I said there was no button on the screen allowing me to withdraw, he said I could have been on the phone. Each time I got an explanation that didn't mesh with the facts, the explanation changed to another one. And his tone was threatening and insulting (literally name calling in emails). Their web site listed some organization that supposedly oversees auctions and which, supposedly, gave Mound City their seal of approval, but all my inquiries to their contact info were unanswered. BTW: this is an opinion-free recounting; hard facts only.

 

[DiceX]

They are legit, though I've heard you need to set your grading expectations a notch or two lower than what they say. I don't have any recent experience, however.

[fantastic_four]

I was bidding online and didn't realize they were allowing the owner to bid AND to withdraw his bids, so after the owner bid me up numerous times and I finally stopped bidding, the owner was allowed to withdraw his bid. So, after thinking I was outbid, I got an email saying I'd won. I inquired what happened and then, when it was explained to me, I complained that I didn't have good reason to consider the owner's bids in good faith if he was allowed to bid me up without any fear he'd end up losing the sale, because they let him withdraw his bid. The guy from the auction house claimed I could have withdrawn my bid, as well, and that their online bidding selections made that easy.

 

That's some compostable_fertilizer right there. Can't believe they consider the owners shilling up auctions and removing bids later once they find the max bid a normal part of their process. Absolute insanity.

[DrWatson]

They are legit, though I've heard you need to set your grading expectations a notch or two lower than what they say. I don't have any recent experience, however.

They are stupid.

[Timmay]

They are legit, though I've heard you need to set your grading expectations a notch or two lower than what they say. I don't have any recent experience, however.

They are stupid.

 

Don't candy coat it.

[bluechip]

That is pretty messed up. Was this recently bluechip? Did they end up holding you to the sale?

 

They did (along with virulent threats and considerable vehement name-calling about my intelligence, comparing me to neanderthals, etc.)

 

I paid and made inquiries with the supposed auction overseer (which seemed to imply a Better Business Bureau sort of oversight) but as mentioned my inquiries went unanswered.

 

[TheMightyJohn]

I'll give them a shot. On a book or two.

[brendanb438]

bluechip why would you ever pay for something in that type of situation? I hope you at least got the book for below FMV, anything higher than you got screwed.

[Boozad]

They are legit, though I've heard you need to set your grading expectations a notch or two lower than what they say. I don't have any recent experience, however.

They are stupid.

 

I like this.

[fantastic_four]

bluechip why would you ever pay for something in that type of situation?

 

Why would he ever put in a bid that's more than he was willing to pay? I bought a few books from that same auction, although mine were snipes so there was no time for shills to bid me up. But if I had put my bids in early, ultimately I'd only put in a price that I thought was fair, so while I'd certainly be pissed about the shilling, I'd still be fine with paying a price I was already willing to pay.

[Kreton]

That is pretty messed up. Was this recently bluechip? Did they end up holding you to the sale?

 

They did (along with virulent threats and considerable vehement name-calling about my intelligence, comparing me to neanderthals, etc.)

 

I paid and made inquiries with the supposed auction overseer (which seemed to imply a Better Business Bureau sort of oversight) but as mentioned my inquiries went unanswered.

 

The Auctioneer Licensing Board for their state would oversee this type of inquiry. The laws/rules will vary by state but not many auction houses like inquiries from them.

[TheMightyJohn]

bluechip why would you ever pay for something in that type of situation?

 

Why would he ever put in a bid that's more than he was willing to pay? I bought a few books from that same auction, although mine were snipes so there was no time for shills to bid me up. But if I had put my bids in early, ultimately I'd only put in a price that I thought was fair, so while I'd certainly be pissed about the shilling, I'd still be fine with paying a price I was already willing to pay.

 

His story sounds more like there was a reserve which was removed at some point and then got slapped in the face with buyers remorse. Just my 2 pesos.

[bluechip]

bluechip why would you ever pay for something in that type of situation?

 

Why would he ever put in a bid that's more than he was willing to pay? I bought a few books from that same auction, although mine were snipes so there was no time for shills to bid me up. But if I had put my bids in early, ultimately I'd only put in a price that I thought was fair, so while I'd certainly be pissed about the shilling, I'd still be fine with paying a price I was already willing to pay.

 

His story sounds more like there was a reserve which was removed at some point and then got slapped in the face with buyers remorse. Just my 2 pesos.

 

The proper way for reserves to be withdrawn is before a bid is made above that reserve. It is not proper to do it afterward.

 

And in this case it was not a reserve, and it was not an owner testing the limits of the sale and taking a willing chance on losing the sale and ending up holding the book.

 

It was the owner of the book in the room, a few feet from auctioneer, bidding live against my bids online, knowing all along he could withdraw his last bid when I reached and he outbid me one more time. Once he knew I was not going to bid higher, he withdrew his final bid.

 

That is not just my perception; the auction house admitted it, and claimed that I could have also withdrawn my bid. At first they claimed it was possible for me to withdraw a bid online, then later said I should have bid live or by phone. Then called me names and threatened me.

 

As for buyer's remorse, it wouldn't matter whether that was a factor or not. Because every bidder bases their bids on value expresses by others, and he needs to know that bids made by others carry a risk.

 

Either that the other bidder will end up with the book he might not want, because he guessed wrong about your limit, or that he will lose a sale to you that he might have had if he hadn't outbid you.

 

That risk by the other bidder is something everybody figures into the value and the level of bids they are willing to make. Even if it's just that the seller won't let it go for that. Once the seller says no to an offer, he should be able to ask the bidder if he wants to sell at his previous offer. But he should not be able to demand the bidder hold to the offer that was previously rejected.

 

 

[TheMightyJohn]

I don't know man, what you bid is at the end of the auction the amount you are willing to pay for the item.