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 Replies: 53 / Views: 8,115 |
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Valued Member
United States
282 Posts |
That is absolutely not what I meant - sorry my slight sarcasm did not translate well in my wording. My next statement was "But what I really meant...." to clarify. ebay's title of "Best Offer" is somewhat misleading in that respect. But seriously I see many coins that have BIN prices far above market value. In that case if I make an offer it will certainly be at what looks on its face to be outlandishly low but in reality is right in line with reality. It is the seller who in many cases is not pricing accurately - either because he is trying to fleece unsuspecting buyers or because he actually overpaid (or paid correctly but the market moved) and is hoping to recoup his investment. This is not like the stock market where quotes can be had easily and there is liquidity - so these spreads are to be expected. However it is exactly like the stock market in that the market moves and a bid or offer away from the market will not get executed. But for that very reason, a $300 bid on a coin listed for $600 is not necessarily out of line. And having a Best Offer listing when there is no intent of actually accepting a reasonable offer is pretty much meaningless and annoying. I have sold coins listed as BIN with best offer many times. Usually I list at 10-20% above what I am willing to sell for - call that the initial negotiation offer as is done in any bargaining type situation. I then gladly accept an offer that that much below my BIN price. |
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Valued Member
Canada
234 Posts |
I agree with syeb, I have seen this before with the "Best Offer" sales on ebay. I remember there was one coin I was interested in so I did my research on what a fair market value offer would be on the coin (it was overpriced by quite a bit), and when I received a counter offer it was only $3 less than the BIN price (worked out to < 1% discount). I contacted the seller thinking he may have thought I was not a serious buyer and therefore did not make a serious counter offer. The response I got from him was that he could go down an additional $2 and that was his bottom line on the coin. So I guess what syeb was saying was that if someone lists a BIN coin for $500 and allows the "Best Offer" to be enabled then it doesn't make too much sense if the buyer is unwilling to accept any offers below $495. (Just change the BIN price to $495 and remove the best offer option). The only reason I can think of for having sellers list items like this is if by enabling the "best offer" option they are receiving a benefit such as a slight decrease in final selling fee or listing fee or something. |
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Pillar of the Community
Canada
3733 Posts |
keep in mind most sellers, need an extra 10-12 % just to cover fees associated with selling the coin, not to mention the time to photo coins, and write the auction, then pack it and go to the post office. so on a 600$ coin, there is over 60$ in fees, so if the coin is trending at 600$ the seller is going to ask above trends to cover fees, plus some profit..
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Valued Member
Canada
228 Posts |
Sellers shouldn't be so quick to ignore low offers. The buyer is obviously interested in the coin... the seller has the ability to, and should make a counteroffer. If that counteroffer happens to be the lowest the seller is willing to go, then they should include a message stating that in the counteroffer. If a deal has been made, great... if the two parties can't agree on a price, then that should be the end of it.
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Pillar of the Community
Australia
7096 Posts |
Quote:
Sellers shouldn't be so quick to ignore low offers. The buyer is obviously interested in the coin... the seller has the ability to, and should make a counteroffer. If that counteroffer happens to be the lowest the seller is willing to go, then they should include a message stating that in the counteroffer. If a deal has been made, great... if the two parties can't agree on a price, then that should be the end of it.
 That's exactly how it should work  |
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Pillar of the Community
United States
2403 Posts |
I do agree that you do see a lot of coins in the BIN category over priced. I do like the Best offers however and have won many(including one a few hours ago) coins this way. If they are close on the asking price I will try to offer $5 or $10 less(doesn't hurt to ask) especially if they are charging shipping. I don't even try to make an offer on coins that are way over priced. As we have slow internet(DSL is only option) here I often lose auctions because I can't get last sec bids in fast enough, so this is sometimes my only option when looking for coins on ebay. |
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Valued Member
Canada
127 Posts |
I agree in some sense that ebay is a little dry right now. A lot of the same sellers with the same coins listed for ages. In the other hand though, I've snagged some great deals as a buyer in the last few weeks. Great deal on a 1948 dollar, a 1937 dollar that sold at 30 percent trends, and several sales I did outside ebay with the seller. It's all about what you are looking for and how you approach a seller in my opinion. I've built some decent relationships with US dealers that tend to be able to list Canadian Coins at far lower than Canadian dealers, and will ship uninsured priority. This helps bring costs to obtain coins down significantly. |
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Pillar of the Community
 Canada
2495 Posts |
Quote:Quote:
I've built some decent relationships with US dealers that tend to be able to list Canadian Coins at far lower than Canadian dealers, and will ship uninsured priority. This helps bring costs to obtain coins down significantly. That is truly a good find. But then there's the uninformed (or stubborn) US dealer that lists their Canadian coins at full trends prices in US Dollars! Good luck with that. |
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Valued Member
Canada
127 Posts |
Very true doubleeagle, it has taken a lot of filtering through those in order to find a few good ones lol.
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Valued Member
Canada
118 Posts |
I see a lot more coins that are over priced than reasonably priced on ebay these days. It's a dealer's only view to say you have to list above the market price to recoup ebay fees. The whole point of ebay is to reach markets you otherwise would never touch. If you're charging a premium I might as well just call up J&M or CC&C. Chances are their prices will be better than market + ebay fees. Of course buyers are looking for a deal. Isn't that part of collecting? I think there are more dealers out there with wishful pricing than those wanting to move product. If you have the luxury of time on your side, it's all good. No laws are being broken. I'm just saying you'll wait a long time with that strategy. And I agree what you paid is irrelevant. What the market will bear sets the price. It works that way for both collectors and dealers. For best offers, you can set a threshold value. Below that, you never even know if someone made an offer - or at least ebay never sends you a message on those. That saves time and your blood pressure. No one likes getting a lowball offer. If the offer is above threshold, then you have a deal. Edited by Osiris
05/14/2016 1:00 pm
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Pillar of the Community
 Canada
5590 Posts |
The best way to gauge things is to see what similar coins actually sold for by using that as your "advanced" screening search.
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Valued Member
Canada
457 Posts |
I recently thought I had made a fair deal on a group of best offer coins.
I contacted the Canadian seller and made an offer on three low cost coins ( less then $50 each ) he / she emailed me back and agreed to the combined price plus tax and shipping, I made the offer on each coin and waited for the PayPal bill but received 3 declined emails.
The Canadian dealer wanted it in USA funds not Canadian.
Lol
It would've worked out to less then five dollars off from their buy it now price.o
Edited by falcon
05/14/2016 7:09 pm
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Valued Member
Canada
135 Posts |
As a newer, low volume ebay seller/hobbyist, I can certainly see that my sales on ebay have slowed down over the past two weeks. I recently decided (took the chance) to bulk sell a lot of ICCS certified coins on .99 cents bids - 10 days listings and barely broke even. Some made a little profit, some sold at less than my purchase price. For those with a bit more experience, is there a recurring pattern for slower/higher sales at different times of the year? Sales in December and January seemed liked peak times for me. |
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Pillar of the Community
Canada
2495 Posts |
Quote:
And I agree what you paid is irrelevant. What the market will bear sets the price. It works that way for both collectors and dealers.
ebay was and still is the best venue for determining "What the market will bear sets the price". Prior to 2009, when the coin market was hot, I sold quite a few KGVI quarters in ICCS ms64 (getting at least 80% of trends) and ICCS ms65's (getting at least 100% of trends). Now you are lucky to sell any ms64 for 50% of trends and ms65's for 50% to 70% of trends. With the Financial crisis of 2008 and the fall on PM's in 2011, the Canadian coin market has depreciated at a very conservative value of at least 30%. This is without question and any dealer who tries to convince you otherwise has other motives at play. But....on the bright side, it is a great time to be a collector as there is plenty of material available at very reduced prices. I just don't know how long it will be when we'll have another strong upswing of the Canadian coin market. |
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Pillar of the Community
Canada
2781 Posts |
when the weather turns nice ebay slows down, both in whats being offered and final prices. good time to shop IMHO |
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Replies: 53 / Views: 8,115 |
First Page
Posted 05/13/2016 3:27 pm
