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Why Do They Do This? (Ebay Pricing And Relistings)

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 Posted 10/26/2020  10:43 am Show Profile   Bookmark this topic Add twslisa to your friends list Get a Link to this Message
It's been awhile since I've had time to really look at ebay listings. It's a great way to learn about coins, if you're NOT an impulse buyer.

Anyway, maybe this has been going on awhile and I didn't see it, but I'm noticing this time that a LOT of coins are way overpriced compared to the TPG assessments, esp if they have great eye appeal. Toners, especially, are often priced MUCH higher than the TPG's value, and they're also doing it to a lesser extent with PL's/DMPL's and cameos (which makes NO sense to me since those features are already factored into TPG values).

Here's an extreme example. The asking price is over 36X what PCGS says it's worth! Leaving aside whether you think the toning in this case is that appealing (I'd love to see it in hand—the pics look a little too psychedelic for me), that's one HECK of a premium!

I get adding a premium for toners—toning isn't considered in TPG values, even though a beautiful toner can go for considerably more. What I don't get is why the sellers just keep relisting again and again without reducing the asking price. In the example case this coin has been on ebay since this time last year.

So why are sellers DOING this—first, overpricing coins to such an extreme degree, and second, relisting them at the SAME price again and again, long after it should be clear nobody's going to pay that much?

(An aside: I think I might start a conversation on a different topic about how to value toners, as well. I have what I think is a sensible suggestion.)
Edited by twslisa
10/26/2020 10:52 am
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 Posted 10/26/2020  10:48 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
The strategy of relisting and hoping a wonk will come along costs nothing.
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 Posted 10/26/2020  10:59 am  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Free enterprise--warts and all.
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 Posted 10/26/2020  11:08 am  Show Profile   Bookmark this reply Add twslisa to your friends list Get a Link to this Reply
I suppose. But I notice even Jhon E. Cash is pricing a little lower these days— and he's aiming at the EXTREME toner lovers (I like toners, but some of those over-colored pictures look to me like someone barfed paint on the coin—I'm betting the coins actually look a lot better in hand).

Just on the off possibility that many people here are right and the "toner fad" will completely fade, I can't imagine anyone, no matter how much money they have to burn, wanting to pay five figures for a coin that's valued at less than $500. And after trying for a year, I'd think the seller might finally want to make a sale.
Edited by twslisa
10/26/2020 11:09 am
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 Posted 10/26/2020  11:29 am  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply

Quote:
wanting to pay five figures for a coin that's valued at less than $500


Did you see the one morgan last week lol?
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
My Type Set: https://www.NGCcoin.com/registry/co...sets/236574/
If you want to buy something or sell something or just talk, shoot me a PM!
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 Posted 10/26/2020  11:46 am  Show Profile   Check Collects82's eBay Listings Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply
There is a strategy called "List and forget." Just post it and let it relist indefinitely until something happens. Actually monitoring the listing and adjusting for that actual market isn't much of a consideration, just "list and forget." But yes, it results in some listings being up for years. My experience with talking with sellers is hit/miss, usually miss. It's a strategy for sellers with minimal urgency to turn over inventory.

(I will admit that I have some listings up that are not coins, old trading cards, which I've set a price that I am motivated to sell at. Its admittedly above market, just where my motivation stands. If someone cares to pay my price then great, otherwise I am very OK holding onto them.)
My hoard of '82s is up to 202! 218 BC x 1, 118 BC x 3, 18 BC x 1, 82 x 1, 182 x 1, 282 x 2, 582 x 2, 682 x 1, 782 x 2, 882 x 1, 982 x 4, 1082 x 1 1182 x 8, 1282 x 2, 1382 x 1, 1482 x 5, 1582 x 13, 1682 x 15, 1782 x 56, 1882 x 49, 1982 x 33
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 Posted 10/26/2020  12:21 pm  Show Profile   Bookmark this reply Add Morgan Nerd to your friends list Get a Link to this Reply
Personally, I never buy from eBay. I always buy from respected dealers and online websites. With eBay you have a very high chance of getting a fake coin, and they're even selling fake coins in fake NGC and PCGS holders! You can't even have confidence in slabs on eBay! For me, it's not worth the risk.
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 Posted 10/26/2020  12:44 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
Listing high is rampant in ebay. it is not restricted to Morgan dollars.
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 Posted 10/26/2020  12:51 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply

Quote:
Personally, I never buy from eBay. I always buy from respected dealers and online websites. With eBay you have a very high chance of getting a fake coin, and they're even selling fake coins in fake NGC and PCGS holders! You can't even have confidence in slabs on eBay! For me, it's not worth the risk.


You're missing out. Also, you have an almost zero chance of coming across fake holders. The only time you buy a fake is if you come across a too good to be true listing. eBay has some incredible coins for sale at competitve prices. Some of my finest coins have come from there. At the risk of sounding brash, quit being so paranoid. If you ever think you come across a fake just put it up here and ask. Worst case scenario you're wrong, best case the listing gets removed.
My best finds: 1999-WAM:http://goccf.com/t/332161 1988-RDV-6:http://goccf.com/t/335954#2873459 1986-Off-center: http://goccf.com/t/335952
1999 WAM #2:http://goccf.com/t/338710&whichpage=1
1981 Double Struck In Collar: http://goccf.com/t/350199&whichpage=1
ANA id: 3194067
My Type Set: https://www.NGCcoin.com/registry/co...sets/236574/
If you want to buy something or sell something or just talk, shoot me a PM!
Pillar of the Community
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 Posted 10/26/2020  12:56 pm  Show Profile   Bookmark this reply Add twslisa to your friends list Get a Link to this Reply
I think I know the one you mean, GrapeCollects! If you search "toned" and sort by highest price first, there are way too many like that.

I wondered about that, Collects82. Maybe those folks just love that coin so much they don't WANT to sell it unless someone is really ready to pony up.

Hi, Morgan Nerd. I always, ALWAYS check the certification to make sure it's legit. I caught one the other day (the seller had high ratings, too!) where the coin for sale was not the same coin as the number they gave for the cert. I really prefer it if they show a full picture of the slab so I can scan it and check that way. I might still end up with a DIFFERENT 1C coin, same date, same grade, but I also only buy from sellers who've been around awhile and have good ratings. If I get rooked that way I will report it.

Yeah, Oriole—the coin I used as an example is an Indian Head cent. I'm also watching a few nicely toned Barbers, though their prices aren't quite as outlandish.




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 Posted 10/26/2020  1:07 pm  Show Profile   Bookmark this reply Add Morgan Nerd to your friends list Get a Link to this Reply
It's just my preference to not buy from eBay. I'm sure there are many respected dealers there but yes, I am a bit paranoid!
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 Posted 10/26/2020  1:11 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
So why are sellers DOING this—first, overpricing coins to such an extreme degree, and second, relisting them at the SAME price again and again, long after it should be clear nobody's going to pay that much?


Most of these are just sellers looking for offers. eBay forces them to put a BIN price with the Best Offer option. So they put in a ridiculous one so they can collect offers over time. Very common and effective strategy on eBay.
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 Posted 10/26/2020  2:11 pm  Show Profile   Bookmark this reply Add twslisa to your friends list Get a Link to this Reply
Morgan Nerd, I hear you. Who are your favorite online dealers?

Bobby131313, Grapecollector started a thread about a Morgan whose non-toned value was between $200-300, sold for $32,900. And there's another one about cleaning coins where a guy bought a NICE gold coin for $102k and, ignoring all advice from experts, gave it a nice, glossy shine. I guess there are people with money to burn. Wish they'd burn it in my direction.
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 Posted 10/26/2020  2:21 pm  Show Profile   Bookmark this reply Add Morgan Nerd to your friends list Get a Link to this Reply
I like GovMint.com, APMEX, and LibertyCoin.com. I also purchased from National Collector's Mint years ago, but not anymore as their service and prices are pretty bad.
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 Posted 10/26/2020  2:35 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
Bobby131313, Grapecollector started a thread about a Morgan whose non-toned value was between $200-300, sold for $32,900. And there's another one about cleaning coins where a guy bought a NICE gold coin for $102k and, ignoring all advice from experts, gave it a nice, glossy shine. I guess there are people with money to burn. Wish they'd burn it in my direction.


I don't see how your reply is relevant to my comment. I'm addressing the sellers that list "overpriced" coins like you speak of. You're talking about buyers overpaying and doing dumb things now. Different animal.
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 Posted 10/26/2020  6:47 pm  Show Profile   Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
Its a way of generating offers. You can always say no. If Something is worth $500 and I list it at $500, I will get offers of $450-$475 if that. If I list it at $850, I'll get offers of $550.
The collection is in your mind. Dispose of your albums and free your mind from the tyranny of holes.
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