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 Replies: 9 / Views: 1,403 |
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Valued Member
United States
235 Posts |
Last night I won an 1802 large cent in F-12 for $75. All the price guides value it near $200. On the other hand, I sometimes see coins sell for as much as two times the Red Book prices --- coins which can be purchased at a lower price in a Buy-It-Now sale. Is there any logic to the bidding on ebay? I keep a record of sales prices on coins I intend to buy and find wide price variations for the same coin in the same grade, especially among Spanish colonials and other foreign coins. I think the best tactic is to wait until 3 or 4 hours of closing, execute a fair bid but nevertheless a bargain bid (say, 50% of Red Book price), and just wait to see if it is your lucky day. |
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Moderator
 United States
6563 Posts |
I normally don't bid on something unless it's about 50% of RedBook -shipping. Sometimes I'll use a sniping program to bid for me if I'm going to be at work and I believe that can get you a better deal. A lot of people put in their "max bid" but I know they keep going up and up after the fact. It's kinda like a gambling problem where they don't know when to stop at the limits they set for themselves. With sniping IMO the less bids an auction has the better chance one has at getting a Lot lower winning bid at the last few seconds. Sometimes not all. |
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Moderator
 United States
23522 Posts |
There is absolutely no logic to ebay bidding, because such a large percentage of the bidders are completely out of their knowledge depth. You can only hope, and set up your snipe for 5 seconds left in the auction.  |
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Pillar of the Community
United States
7123 Posts |
I think most bidders believe that they have some type of logic behind the way they bid ,, at least I do .
now that does not mean that what they believe actually makes any sense to those who are viewing it from the outside or not is another question .
Metalman
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Pillar of the Community
United Kingdom
2217 Posts |
It always strikes me how much the average (not low mintage) Morgan dollars go for! They have a value of about £3- £3.50 in my book but they seem to go for usually about twice that..just get them as cheaply as you can! |
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Pillar of the Community
United States
751 Posts |
Matt, your book seems to be a bit out of date.
Wholesale prices for pre-21 Morgans are $14 for circulated coins and $28 for MS-60. Current exchange rate is 2USD = 1 pound.
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Pillar of the Community
United Kingdom
2217 Posts |
My book is out of date?
2006 mate.
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Moderator
United States
23522 Posts |
quote:
My book is out of date?
2006 mate.
Doesn't make it any closer to reality. If Morgans could be had, in any condition, for US$7 I'd never have gotten out of them. |
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Valued Member
United States
393 Posts |
I'd love to hear Bobby or Susan weigh in on bidding logic on ebay. |
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Pillar of the Community
United States
2600 Posts |
For what it is worth, I go to a lot of estate auction, buy on ebay and also buy from places like Heritage. My experience is that high grade coins demand a premium as do key and semi key coins. Now there is no doubt that there are many uneducated bidders at each of these, but the prices tend to be very similar no matter which venue I compare them to. I chart prices on a spread sheet and have found over the last 14 months that comparable coins are selling within 10% of each other no matter where I am buying. I still believe that the internet has reopened access to coins that previously collectors did not have and that has brought many collectors back into activity. I am one of them. To an extent, I gave up when I could not find the coins I needed to finish a set, etc. Right or wrong, I think supply and demand is in effect, more collectors, educated and uneducated are in the market and this is driving prices higher. Great if you are in a position to speculate.  Jim |
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Replies: 9 / Views: 1,403 |
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Posted 04/28/2007 12:30 pm
