Public Mediation

My Claim vs. Jumbo Auction House

  • 25% of recovery offered for best resolution
B. K. vs. Jumbo Auction House
5091 Walnut Grove Ave, San Gabriel, California, 91776-2023, United States
Amount Involved: $425.00
    • Status: In Negotiation
      This claim has posted for public comment and negotiation. It will remain posted until resolved to the claimant's satisfaction. Suggest a resolution to help these parties reach a settlement.
       (seeking public comment)
    • Claimant Seeks: View.
    • Claim #: 2800144
    • Amount Involved: 425.00
    • Filed On: Jun 24, 2018
    • Posted On: Jul 05, 2018
    • Complaint(s):
      • Bad business practices
      • Problem with a product
      • "I just feel ripped off."
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Statement of Claim
Complaints Involved (3) - View
Claimant says:
"I purchased 3 Chinese ingots and one Chinese money bar from an auction on May 20,2018. Upon receiving my purchases I took them to a very reputable coin dealer in the Philadelphia area.
I paid to have them tested for silver value and have them appraised. To my shock I found out that each one of them is a forgery!
I called Jumbo Auction and spoke to "Mike". "Mike basically said they he had no idea they weren't real that he never checked them for silver content or tried to authenticate them in any manner.
He also told me he wouldn't refund my money because he never said they were silver ingots although the pictures he posted of these lots were clearly meant to look like antique chinese silver ingots that were used in Ancient China as currency. If you need to see pictures of the forgeries next to real chinese ingots I would be happy to oblige. He also uses the term "money bar" to describe another item. By definition a "Chinese Money Bar" is compsed of precious metals!
I have researched this auction house and it is clear that the majority of the items they handle are from the Far East. "Mike can't possibly tell me that he did not know given the scope of the items that his auction house sells.
I would like a full refund from Jumbo Auction House. If you post pictures of counterfeit items and a customer is duped, it should not be the customers fault."
...
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Additional Communication Between Claimant and Jumbo Auction House Hide
  • Jul 05, 2018, Jumbo Auction House (responding party) added:

  • We have never stated in the description that these are made of silver. Our Terms & Condition also states clearly we do not provide any form of guarantee on all the items listed in our auction. Interested bidders have to make the buying decision based on their own discretion. All interested bidders are welcome to attend our preview before the auction so they can see the items they are interested in. They can also request us for more information, including more pictures via email.

    Based on the current market rate, one ounce of silver costs about $16. The total weight of the 3 ingots is more than 150 ounce. If these are silver, the market value worth today is more than $2400. The total amount you pay is only about one-fifth of this $2400.

    Please stop accusing us of duping our customers.

  • Jul 05, 2018, Claiming party added:

  • First you never posted the size of the ingots. Obviously you weighed them, you just didn't bother to share with your internet clients. Secondly, if you call something a money bar it's supposed to be made of precious metals unless the definition has changed in the last few minutes. You've obviously withheld information that would allow an absentee buyer to make an informed decision. I went thru your old auction and found out that you had sold over a dozen ingot/money bars over the last 2 years. You are obviously familiar with them and you chose to withhold information like the weight. I have bought Asian coins in the past from other reputable auctioneers and I have received counterfeits in the process. One e-mail or 1 phone call is all that it took to resolve the issue. The issue is simple. You are using the internet to expand your base however; you aren't providing the same information that a buyer can see for himself if he was there. I can assure you if I was at that auction, I would have passed on the items without looking at them twice. You knew they were counterfeit and sold them anyway! What you have done is at the very least immoral and quite possibly illegal. I guess will see

  • Jul 17, 2018, Jumbo Auction House (responding party) added:

  • Add your inf
    1. We kindly ask that you browse online for other auction houses' website/ auctions. Most, if not all of the items in an auction do not include the weight. It is impossible to post all information/pictures. We only indicate the dimensions. As we have said earlier, potential bidders are welcome to attend the preview. Alternatively, potential bidders can also request for more information, such as more pictures, provenance, condition, weight etc.

    2. Our auction house will try to answer all questions to the best of our knowledge. We are just an auction house where consignors place their items here for auction. Hence our information depends on the consignors.

    3. We have sold a number of similar Chinese ingots. No one has ever come back to make such inaccurate accusation.

    4. If you are unable to attend our pre-auction preview, you can still request for more information via email/phone for the item you are interested in. Our record does not indicate you have made any effort in doing so.

    5. We have explained very clearly to you it is stated in our auction Terms & Conditions. All items are sold 'AS IS'. If you are hoping these are real silver, you should have checked with us before placing your bid before the auction. If we gave you incorrect information, then we are trying to withheld information or misled you. We can see you are expecting to buy REAL silver at our auction. Even if you do not ask us for more information, you should be able to estimate the weight of these items from the pictures and dimension provided under the description. Based on your judgment, you should be able to have a rough estimate of the weight. Your estimated weight should not be more than five times different from the actual weight. You cannot assume these are silver based on your own assumption. You only pay about $425 (about 20% based on current market value of silver) in total for these three items. When you received these items, you realized these are not silver (We NEVER state these are silver in our description), . We are just an auction house who provides a platform for sellers and buyers. We have fulfilled our requirements and only earn a commission of 20% for your transaction closed in the auction ( less than $80). Also, $425 is a very low rate compared to current market rate of $16 per oz. The total weight of these items is at least 150 oz and they are easily worth at least $2400 or more (if they are real silver)! When you realized these are not silver, this is when you get upset.

    6. Kindly refrain from making inaccurate accusation against our company.

  • Jul 18, 2018, Claiming party added:

  • Obviously you are not going to satisfy my complaint so what I'm going to do is file a complaint with the U.S. Postal service, Interstate Commerce Commission, Attorney General of NJ and whatever government agency regulates auction houses in California and I'll let them examine everything and make a decision.

What Claimant Wants Hide
1. Refund: Invoice #LA2303123 Jul 09, 2018 $425.00
2. Other – Copy claim to regulators Jul 09, 2018 $14.99
3. Other – Pay for claim posting cost Jul 09, 2018 $14.99
4. Other – Physical delivery charges Jul 09, 2018 $4.99
Cash total : $459.97
  • 1
Do you agree with the claimant’s demands?  (If you are a party to this claim, click here.)

Respondent's Counteroffer

There has been no response to this claim from Jumbo Auction House. This claim will remain posted until resolved
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  • Contributed Solution: by George Maxwell On 07-12-2018
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    Where is Jumbo Auction House? Is it bonded? More...
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