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 Replies: 23 / Views: 4,059 |
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Rest in Peace
United States
18456 Posts |
I believe there was a recent discussion on this but I can't find it . I ,as a buyer I have noticed for a long time now that most e-bay sellers BIN prices are going crazy compared to some price guides . Even their starting prices of their auctions if not .99 is ridiculous . Don't get me wrong ,I'm not looking for anything but a fair price . Now hear me out ; I'm not a big time coin buyer ,Like to keep it under $50 per coin . therefore I look at price guides from Coins Magazine ,Coinage mag ,Red Book . And not from Heritage , Great Collections ,etc. My Beef is why do they have to charge almost double the price of a COIN GUIDE . How do they justify this . Please don't tell me that they have e-bay fees, paypal fees and postage . that's no reason to charge 100% over a coin's true VALUE .  Just had my second cup of coffee, End of RRRant !  |
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Pillar of the Community
United States
5825 Posts |
A seller can ask for anything they want.
A buyer doesn't have to give it to them.
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Pillar of the Community
 Canada
5394 Posts |
Free market. What makes An NFL guy with a Questionable education worth 30 times what a heart surgeon gets? Coin books, magazines and online guides do not sell coins. That is the joy of ebay for both buyers and sellers. You can shop online without ever making someone upset at you. |
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Pillar of the Community
United States
6130 Posts |
Which coins, specifically? I have generally found that ebay prices typically run about 1/3 to 1/2 of the NGC world guides, at least for the stuff that is valuable, but obscure (Indian Princely states, obscure British colonies, some silver commemoratives). Almost anything can be had at a bargain price with some perseverance. |
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Valued Member
United States
112 Posts |
T-BOP that topic was called
"Is it me or are eBayers asking to much?"
I found it very interesting as well.
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Valued Member
Canada
192 Posts |
My gut reaction is to say they must be getting sales at that range, but when I search ebay 'sold' listings I rarely see anything that sold for 200% of what I feel it should have gone for... So much for Occam's Razor. So.... uhm.. Good question? |
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Bedrock of the Community
United States
10982 Posts |
Free listings for everybody have clogged up ebay with BIN listings and high prices. ebay was an auction site at one time, a long time ago. Much has changed and it's usually not for the better. And I don't mean just ebay. |
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Pillar of the Community
United States
1431 Posts |
Quote:Free listings for everybody have clogged up ebay with BIN listings and high prices. ebay was an auction site at one time, a long time ago. Much has changed and it's usually not for the better. And I don't mean just ebay. This, mostly. It is becoming a rarity that any coin on my want list comes up for auction any more. I only see the same over-priced BIN listings reappearing week after week, month after month, even year after year. |
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Rest in Peace
United States
17900 Posts |
If you have ebay notify you via email for a search you are looking for, you know that what T-Bop is saying is all too true, even for the higher valued coins. I've had a Vermont Commemorative in MS-66 on my want list forever. I'm picky and don't like toning (unless it's beautiful, which doesn't happen often on a Vermont), don't like carbon spots, and hate milk spots. I would guess that one seller has put his MS-66 at double the actual selling price (on Heritage) at least 200 times. He has 3 day BIN's, and it pops up on my email list so many times that I've nearly canceled the search. In all honestly, I'll probably end up getting the coin from Heritage or Great Collections any way. But once in a great while ebay does have real actual auctions with low starting prices. That doesn't mean the coin will sell any cheaper, but it at least gives you a chance at that. For ebay, it's all about patience. I always have 60-80 coins I'm looking for, so I know them intimately as far as grades, populations, and selling prices, and with that many coins on my want list, one pops up occasionally to keep me from going crazy. |
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Valued Member
United States
408 Posts |
You asked about BIN items. There are two main reasons why some sellers have high BIN prices. 1. To see if someone is willing to bite. 2. They have items that are similar which they are auctioning off. It's a way to get you to bid higher on an auction item and you will still think you got a good deal, because you did not pay the full BIN price. Remember, none of this works if you are an informed customer who did his/her due diligence before purchasing or bidding on an item.  |
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Pillar of the Community
United States
4085 Posts |
Seller lists coin for above market price. Coin does not sell. Seller complains that ebay is no good. Rinse and repeat. I like to call these overpriced listings DOA. |
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Pillar of the Community
United States
968 Posts |
I sell full time on ebay (ornamental plants, not coins) and I've learned over time what people on ebay will pay for certain items. I couldn't care less what you could buy them for elsewhere. If I can get $100 for an item on ebay that I could only get $50 for selling in person, you can bet anything I'm charging $100 for it. Literally no one is being forced to buy on ebay. If you pay the higher price there it is either because you like the convenience of buying there and having it shipped to you with no hassle, or you aren't willing to put in the effort to see if you can get it cheaper elsewhere. I have literally bought plants from Home Depot at full retail price and turned around and listed them for 2x the price on ebay and they sell. By the way, I also like to list items new to me at a high price to start to see if people will pay that price. If they do, great! If not I lower it until I find the price that moves the item. Remember that what matters is the selling price. Lots of people ask way more for coins there than they will get, so lots of coins go unsold. Keep in mind, this is how I make my living. If I only ask $50 for an item I know I can sell for $100 then that is $50 of income I've given away. What I sell is exactly like coins in that they are 100% a luxury item. No one needs them, they only want them. So when you buy from me your luxury money gets converted into money I use to pay my mortgage and other bills. Edited by Saruma
10/07/2016 12:54 pm
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Rest in Peace
United States
10625 Posts |
You can avoid any and all of the listings that irritate you by setting search limits such as auctions only, lowest price first and even limit the dollar amount you are willing to pay in your search. I have done all of these from time to time and most importantly I keep a somewhat generic saved search that excludes all of the sellers that I loathe....
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Pillar of the Community
United States
6370 Posts |
As an ebay seller, I can ask whatever price I want. If I thought my 2003 cent was worth $100,000,000, fine. But it won't sell. In order to actually sell my coins, I need to price them at a competitive wholesale price (going rates on ebay are wholesale), and I usually have a best offer option. I need to flip coins quickly, and I find this method works very well. |
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Bedrock of the Community
United States
94367 Posts |
Well said. I buy a lot on ebay as well, and have often won lots by making an offer even if there was no "Make Offer" option. For one thing, you never know when a seller just might need some dough quickly. |
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Valued Member
United States
314 Posts |
Does the seller not have any costs to ebay for listing a BIN coin that does not sell? |
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Replies: 23 / Views: 4,059 |
Posted 10/07/2016 09:38 am
