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 Replies: 14 / Views: 1,762 |
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Valued Member
United States
344 Posts |
The new seller on ebay could fall to possible low bidders that wait til the last minute ! My belief is that if an item is worth 500 then sell it for that or keep it do not give it away to the hype of selling on ebay . Only ebay and the buyer maybe the only winners of your auction. Sell it only if you really need the money ! To make profits it is a Russian Roulette ! Some may not like this view though it is only my opinion ! |
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Pillar of the Community
United States
882 Posts |
If I had a coin that I wanted $200 for, I would really be scared to start it off at .99. Maybe the person who really needs the coin may not be shopping and it could sell for $20... I think I would be forced to have a brother or someone "shill" bid for me...
Ty
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Valued Member
 United States
344 Posts |
Exactly what I am trying to say ! The Info on selling at $.99 only helps the buyer not the seller ! Seems it is a mayhem ! One gets caught between a rock and a hard place because of the starting of $.99 auctions. It is fine if you sell daisys !
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Forum Dad
 United States
24170 Posts |
I can tell you for a fact, based on over 30,000 transactions worth of experience, that lower opening bids bring higher final prices. If you don't believe me or you're scared, then don't do it.
If a $200 coin sells for $20, you did smothing wrong.
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Valued Member
United States
344 Posts |
Bobby do you strictly only sell on ebay and DO no buying at all of any amount ? |
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Forum Dad
United States
24170 Posts |
Susan buys on a different ID. Mishap, the reason that ebay, with the last price schemes is making it appealing for lower starts is because they know that it brings higher sale prices. Final fees is where they make their money, not listing fees. They sell the popcorn cheap to sell more drinks. |
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Pillar of the Community
United States
1703 Posts |
Mishap, If the coin is worth $500,then most of the time it will sell for very close to or more than that amount.There are thousands of coin buyers and collectors checking ebay auctions every day.If the coin is listed correctly and you take exellent pictures and have a good return policy,your coin will sell for what its worth. You also have the option to list with a reserve price to protect your investment. |
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Pillar of the Community
United States
2254 Posts |
MH et al, I just started selling off my junk silver. I know what the going price is, but I also didn't want to start it off right at that price. I wanted to start it off low so it would gather bids. I figured my listing was worth around $260. I set the reserve for 200 just to cover my butt, and I started the auction off at 20 or 30. It went over the reserve in two days, and went over my estimate by auctions end. Point being, I set a reserve low enough that it didn't scare buyers but still covered me from taking a total loss, and I was also able to start with a low price to induce bidding. Even with the ebay fees, it was a good deal. Hope this helps. |
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New Member
United States
40 Posts |
I agree with Bobby131313... I do not have near the experience he has, but I have always started coins at 99 Cent... There are so many people watching on ebay, the chance is very small that someone will take the coins too cheap... How many times have any of you won a coin 20 % or more below "price"? If the item is listed in the correct category, it will be very rare... I think it is OK to set a high 1st bid, but you will not get as much attention... I think it is a waste of time to set a low 1st bid and then an unkown reserve price. I don't usually bid on items with a reserve. I see too many of those go unsold. I assume they are trying to catch a whale. Forgot to mention... good pictures and clear shipping options/prices are also a must. Edited by booyah
01/22/2007 10:23 am
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Rest in Peace
United States
2684 Posts |
Like Bobby, I start all my auctions off at 99 cents or 9.99. Unless the coin is a real dog, it will bid up to and over its "natural" value, all else being equal (good description, decent images, no red flags such as private bidders, etc). If I absolutely need to obtain a minimum, I'll set a reasonable reserve. Once the bidding starts, the competition begins and I am often surprised to find the bidding has gone WAY over what *I* would have paid for it. On the buying side, I tend to stay away from coins whose start prices are close to their book values or otherwise too high, especially with raw coins or in last-rate slabs. In most instances, the seller has unrealistic expectations. ebay knows exactly what it's doing. Fred |
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Valued Member
United States
140 Posts |
i think that if you start low it will get more bids. the more bids you get the more people will look.
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Pillar of the Community
United States
2269 Posts |
 As a buyer, I am less likely to bid on an item that is listed for a higher amount. As a seller I have listed auctions at .99 and that have sold for more than I expected. I have found that people will be less reluctant to bid on an auction with a lower opening bid. |
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Pillar of the Community
United States
751 Posts |
We all seem to hate "hidden reserves". Setting aside for the moment Bobby's discussion of the ebay fee structure, why not reveal the reserve? Taking tights' example, why not include in your listing: "These silver coins have a melt value of $260. Bidding begins at $0.99 with a $200 reserve." As a bidder, I would be far more likely to bid in such an auction than one with a "mystery reserve". |
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Valued Member
United States
393 Posts |
From a buyers perspective I'm a sucker for something that's been bid on many times. If I see a listing with 10 bids I absolutely have to look and see what everyone is bidding on.
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Rest in Peace
United States
2684 Posts |
TM, on occasion, I use hidden reserves on those auctions where I need to get at least a minimum amount back on my investment. However, in the text, I state that the reserve is below or well below certain price guides and/or completed ebay auctions yet without stating the actual reserve. The idea is to get people bidding just to cross that reserve threshold. It usually but not always works and often brings in over or way over previous auctions for similar coins (very seldom does it ever reach price guide levels - those are just fantasies). That said, as a buyer, I also have a problem with hidden reserves. Nine times out of ten, the reserve approaches the price guide values FOR A RAW COIN, not a top-of-the-line PCGS slabbed coin. Too many sellers have unrealistic expectations of a coin's value. If a seller bought a raw coin, say an 1890-CC Morgan in "BU" (he thinks) condition for $300 and a price guide states that it's worth $450 in MS-60, he's gonna try for a quick profit by selling it (still raw) with a hidden reserve at, say $425 while advertising it as an "MS-64/65" (most would be lucky to make MS-60). Smart buyers will seldom bid this high on a raw Morgan no matter how good the picture looks. The problem is that I have no idea what the reserve actually is, so I'll bid up to maybe $325. If I haven't broken his reserve, tough. I quit. |
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Replies: 14 / Views: 1,762 |
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Posted 01/22/2007 12:05 am
