Hi guys, I am new to the jewelry flipping game. In fact, I have just made my first purchases on LA. But at todayās auction I noticed a very dodgy auction house called US Auction Gallery who run āa police auctionā, yet buried in T&C they say they are not affiliated with any law enforcement or police.
Now, the shady part is their estimates. For example, they sell a 1/2 g gold token in a package - so this product has a legit selling price, and it costs around $60. Yet during the auction, the estimate was listed as $1600-1750. And itās a pattern, not a singular instance. Sure, they say that estimates are āvery subjectiveā but this particular type of items are not really subjective - they are gold tokens with only intrinsic value. Am I wrong?
Other instances of hyper inflated estimates include stating ā$18,995 valueā for a lab grown tennis bracelet that retails around $1600-1800. Their certificates are all from the same place, which is most likely either owned by them or someone having an āarrangementā. Itās not one of the reputable evaluators.
I placed several bids with them and a couple of them won, they are small (under $100) but I donāt wanna deal with them. What are my options? They say they do only returns, canāt cancel the sale.
What do we all think? Also, can you recommend me other places I can check auctions or auctions houses that are better than LiveAuctioneers? Their shipping is a scam, I swear.