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 Replies: 23 / Views: 1,931 |
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Moderator
 United States
188952 Posts |
Quote:
Life lesson: people tend to overpay in every auction. This must be true. I have yet to win an ebay auction. All my purchases have been buy it now or accepting a seller offer. Quote:
I've never used Numismedia. I use it all the time. I also search previous ebay sales, but these are just price guides. In reality, the price does not exist until the sale occurs and will certainly change with the next sale. |
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Valued Member
 United States
373 Posts |
BH1964, I think you meant '42-D not '24-D. I really didn't notice that divot on the chin. Coin collecting is all about learning, also. NumisRob, yes, for me it's easier to buy coins on ebay, even if I end up overpaying slightly for it. |
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Pillar of the Community
 United States
7953 Posts |
A couple of thoughts ... 1. In an honest auction, there is no such thing as overbidding! You and anyone else can see the coin, everyone who wants it bids, the highest bidder wins. That price becomes the market price for that coin. It's not too high, it's not too low, IT JUST IS! 2. One CAN overPAY in a "Buy It Now" or retail situation if you don't do your homework. 3. If you are buying coins on ebay your best reference is the recent selling price of comparable coins on ebay. Remember that "comparable" does not mean coins with comparable descriptions because many sellers on ebay inflate the grade they feel their coin deserves. It means coins with comparable wear, color, defects, etc. As you are seeing, in any given auction you might do slightly better, or you might lose out to somone who wants that specific coin more than you do. |
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Valued Member
United States
373 Posts |
I'll keep that in mind, tdziemia.
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Pillar of the Community
United States
7953 Posts |
Or, more succinctly...
The value of a coin is not what you or I or anyone else, or any guide or catalog says or thinks.
It is what someone is willing to pay for it.
This is why "overbidding" in an honest auction doesn't make any sense. An auction is where the marketplace determines the value of something, whether that is a coin, a Picasso, or a U.S. Treasury note.
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Pillar of the Community
Russian Federation
1557 Posts |
It seems that you forgot about one more, no less important point, "Promotion of the seller." A seller with a stronger rating and sales has a larger customer base and these people tend to pay more.
I've heard stories of a person taking a chance, buying a coin with a bad description and bad photos, and winning the lottery. The coin turned out to be more than attractive, but there are always risks.
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Bedrock of the Community
United States
18681 Posts |
Quote:
eBay sold prices fluctuate also. One auction a coin will sell for $10.00 and another auction for $20 and another $45. So how can I make a proper assessment if the same coin (more or less) sells for different prices? all coin values fluctuate. there are multiple components to pricing. here are just a couple 1. slabbing companies don't get the grade correct all the time. grade the coin and don't rely on the slab grade 2. one F12 coin is not comparable to another. marks, eye appeal etc could alter what someone is willing to pay 3. someone would be more inclined to overpay for a coin if they need that coin and have been looking for one to fit their collection 4. different pricing instruments pull their data differently. |
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Bedrock of the Community
United States
19183 Posts |
Good breakdown, panzaldi.
Essentially, it's the marketplac--in all its glory. Buyer beware. A numismatic marketplace governed by 'price controls' would likely not be a sound idea.
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Replies: 23 / Views: 1,931 |
First Page
Posted 03/26/2024 6:49 pm
