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 Replies: 72 / Views: 9,450 |
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Valued Member
 Canada
396 Posts |
@rekun, thanks for the insight. This next question is off topic, if a coin that doubles at sale price weren't deemed profitable on ebay, what would be? What's a good strategy considering the risk of being stuck with an inventory? One would assume giving the popularity of such a coin, it will sell rather quickly |
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Pillar of the Community
Canada
933 Posts |
I think the problem is that selling on ebay takes a lot off the profit. they take 10% plus listing fees, and you have to think about shipping as well. Its not like kijiji where you just meet the guy and sell the coin for a flat $200, making a quick $90..whereas on ebay you would make only $60 on the same $200 selling price |
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Pillar of the Community
Canada
981 Posts |
There's nothing wrong with making $60 a coin for simply repackaging the coin and shipping it else where I will gladly take that any day.
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Valued Member
United States
163 Posts |
I'll second that, helping fund my honeymoon.
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Valued Member
Canada
207 Posts |
Haven't sold anything on ebay before, but I've been thinking about starting. I figure I spend my time following the chatter on new releases for my own collection anyway, so why not take advantage of that knowledge to try to sell some coins to help pay for my hobby. I'm trying to understand why $60 profit is considered not worth it. Sell two coins and you pay off a third coin for your own collection. Is it the risk that you may not be able to break even if the coin is not successful? |
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New Member
Canada
19 Posts |
I guess it just comes down to personal personal preference. I have a busy professional career so it's not worth it for me to pack it and drive to the post office etc. to make $60 on one coin that I risked not making any money on if it didn't sell well. And I'm a paranoid seller who will insist on tracked shipping which further reduces my profit (both from the perspective of a higher selling price and the fact that ebay takes commission from the total price including shipping now) If I know I will be making $60 on it for sure, then yep I'll be loading up and shipping multiple coins per day. But I might also be stuck with thousands of dollars of coins, so the risk has to be weighed. Don't get me wrong though, the dinos and titanic coins were no-brainers that I stocked up on. Just not sure about this one.... |
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Valued Member
Canada
396 Posts |
@Hobbes, I think the difference is between doing it as a hobby and running a business. I don't run a business so I can't say for sure
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Pillar of the Community
Canada
1502 Posts |
trade off for the fees on ebay is higher exposure and the lack of a need to meet face to face (which may be considered dangerous in some neighbourhoods). RCM dealers only get about a 20-30% margin at best, so if you can manage the same on ebay, all the more power to you. What you'd have to watch out for on ebay is not just the ebay fees, but also paypal and shipping costs. |
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Valued Member
Canada
207 Posts |
Great to hear all the opinions/suggestions. I've been slowly ramping up buying, 2 titanic 50c, 3 bees, 6 dinos... So far I've been able to pick the winners and I liked the loons from the start. I've ordered a bunch, but now I'm questioning cancelling some of them. So my understanding is that paypal by itself offers similar protection as ebay. It seems what you need is a way to connect buyers and sellers worldwide and then complete transactions through paypal. |
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Pillar of the Community
Canada
933 Posts |
If RCM shipping times were NORMAL (2 - 3 weeks from DAY OF ORDER) I would probably order 3 more, however the fact that it takes SO long to get the coin (1-2 months) I dont like having that order of 10 or more sitting waiting. |
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New Member
Canada
19 Posts |
Yeah it's totally the fact that you may not be able to pick the winners. And you do get the occasional scam artists who try to do chargebacks, headaches about shipping times etc. I have a 100% feedback account with thousands of feedback, so to keep that sometimes I have to refund and write off something even if I didn't do anything wrong etc. for the sake of positive feedback. So you have to figure out a price that's worth all these hassles for you.
If you have a dino on hand that you want to sell, by all means it's great. But I'm talking about buying them per-emptively before they become popular for the sake of selling, which IMO is risky.
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Valued Member
130 Posts |
Gatewest has raised there price to 119.95 and now has a limit of 1.
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Replies: 72 / Views: 9,450 |
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Posted 05/25/2012 4:24 pm
