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 Replies: 43 / Views: 4,046 |
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Pillar of the Community
Sweden
729 Posts |
If you would sell several items in a short period of time, get a store for a month or two (don't forget to cancel) to get a discount on the % eBays takes. It costs to get a store, but if that is less than the extra % you pay, you'll save some dollars at least.
Edited by epikur
07/11/2017 3:46 pm
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Valued Member
United States
324 Posts |
What if the winning bidder doesn't honor his end of the deal ? Like never pays. Is that the kind of market we should have? Anyone who reneges on their sold item should get a fat red negative rating
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Bedrock of the Community
13014 Posts |
Quote:
What if the winning bidder doesn't honor his end of the deal ? Like never pays. Is that the kind of market we should have? That happens every day on ebay and there are absolutely no consequences for the buyer. A buyer has to do it multiple times in a very short period before a seller can even use the sites filters to exclude the buyer from being able to bid, and they can always just use a second account anyway. But that was my point in the last post. The system doesn't bind the buyer to the sale in anyway. While both parties should honor it, it would be more unethical to say that anything sold is buying but if you won it only is if you feel like it |
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Bedrock of the Community
 United States
12477 Posts |
There have been a couple of good points posted: Quote:
High end material should be BIN and be patient. While it goes against the "experiment" idea, I agree that higher end items (coins or not but, especially coins) should be listed as a BIN and I would add Best Offer. I don't have the funds to buy high-end things but I do much prefer BIN listings and am even more attracted if they have Best Offer. The key idea in the quote is patience. It's nearly always the case that if you're in a hurry to sell, you won't get the return that you would if being patient. It may take some time for the right buyer to come along. Quote:
if buyers can back out of a sale by not paying then sellers should be allowed to cancel sales if they want as well. The same rules should apply to both parties and since the buyer isn't obligated when they win the seller should have that same right. I agree. I've cancelled a sale only once (before they even paid for it). I can't remember the amount of times a buyer has won something and not paid or communicated at all. I've even had buyers win a BIN item and didn't pay/communicate.  As a little side note, communication is definitely key in ebay transactions, especially before the item ends. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
1590 Posts |
My last high end item was bought at a BIN price. The buyer did not pay me until I opened a case against him. And then waited till the last day possible. I looked at his profile and looked at his for sale items. Quite surprised I was to see him listing the same coin, in the same grade as I was. It was also a graded coin and it turned out he was simply getting rid of the competition; as our two coins were the only ones for sale and mine was slightly lower than his. So he bought mine, didn't pay for it till he had to. Then opened a SNAD on me and had his money automatically refunded. Paypal was no help. ebay on the other hand, took a dim view of what he did. And I must say it was the only time they have actually sided with me. I guess they don't want sellers to shut out other sellers by making false bids. THEY required him to pay me after all was said and done AND they blocked his ability to give me feedback. I strongly suspect I was not his first victim. |
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Pillar of the Community
United States
1450 Posts |
I would ask just what you mean by "high end"? If I had a coin worth $25,000 I might think twice before using ebay. However, from coin mags I read dealers have lost their azz using Heritage Auctions and the high end type Auctions. It depends on so many factors. I get the feeling that higher end auctions want the high end goods like mint condition and scarce or rare coins. Most collectors collect coins in the "Fine" range. |
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Bedrock of the Community
13014 Posts |
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However, from coin mags I read dealers have lost their azz using Heritage Auctions and the high end type Auctions. That's more a product of situations where they didn't have enough leverage to get better terms. If you just blindly consign Heritage gets 35 percent from the 17.5% buyers AND sellers fee. Timing is also very important when you are talking about coins worth 10s of 1000s or more, an extra bidder on a certain day can mean a record price while the lack of a bidder can mean a weak price though the high end houses do allow protection for the seller with reserves and house bids |
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Pillar of the Community
 United States
3479 Posts |
Quote:
the high end houses do allow protection for the seller with reserves and house bids
Basebal: Thanks again for all the helpful info. Could you elaborate more on how the 'house bids' work? |
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Bedrock of the Community
13014 Posts |
Quote:
Basebal: Thanks again for all the helpful info. Could you elaborate more on how the 'house bids' work? Basically they reserve the right to bid on any of the auctions how they see fit too. I am not sure if Legend auctions reserves that right as well and if I had to guess I would think they do not simply because they do not need too, but the other elite auctions houses do reserve that right. How often or how much they do it only they know |
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CCF Advertiser
United States
1533 Posts |
You need to have significant holdings to be able to negotiate to less than 10% on the buyers fees at HA. Most small consignments will not convince them to budge from that. ebay is 11.8% overall, but more critically, ebay has a limit of $250 on final value fees. HA does not. |
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Pillar of the Community
United States
3210 Posts |
I always on certified coins will set the coins at a buy it now or best offer. For raw coins I start at .99 no reserve and usually get a fair price. Sometimes I don't do well but that is the risk you take.
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CCF Advertiser
United States
1533 Posts |
HA does not have hidden reserves. Stacks does. Not sure about Legend. There are a lot of folks who will not even bother to bid on lots that have a reserve especially if they do not know what it is. You spend time working up what you will pay for a coin and find it doesn't sell at all. The bidders on the 1804 dollar at Pogue III must have been pretty po'd after it ran up to $10MM and then surprise! Lot passed, did not make hidden reserve.
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Pillar of the Community
United States
1839 Posts |
@ MikeF I've sold some fairly high end coins on ebay with low starting prices and no reserve. They did not work out very well. I would say on average I took a loss in the range of 25% to 50% per coin. Those that pointed out that you won't likely have good results unless you have a lot of positive feedback as a seller are on target. I believe the auctions for high dollar coins on ebay that are successful are done by known dealers that have a long track record of selling quality coins at fair prices. A prime example is David Kahn Rare Coins. He has about a dozen coins or so that end every Sunday night that always start out at $0.99 each week. And they sell for very solid prices. He has built up a strong following and for good reason. He also sells on his own website but of course not via auction. Unless you've done something like David you're really only likely to have success selling on ebay using Buy It Now and have a lot of patience. And as others have said, summer is one of the slowest times of the year to sell coins on ebay so be ready for that. All of that said, I would suggest that unless you've built up a reputation for selling nice coins on ebay then you'll likely be very disappointed in the results of a low start, now reserve auction. Perhaps it would be best to start out with lower priced coins to build up a a reputation, or just use Buy It Now. Another option is to send your coins to Great Collections to be auctioned off. Their fees are quite low and they get a lot of traffic. |
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Posted 07/11/2017 7:27 pm
