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 Replies: 23 / Views: 4,061 |
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Pillar of the Community
United States
509 Posts |
I had a 7 day auction with a fair starting price (slightly lower than I thought worth)- $45.. The auction ended with no bids. I relisted it immediately at $65 BIN with best offer. Within 5 mins I had $55 offer, I went to click accept and someone bought it for $65 + shipping..... ebay makes no sense to me these days. I rhyme or reason.. Just need 1 person to buy it |
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Valued Member
United States
51 Posts |
This applies to sales in general, not just on ebay. There are weird psychological factors at play sometimes when it comes to price-setting and salability. For example, a low price can seem like a good deal, but it can also suggest to a perspective buyer that the seller doesn't value the item very highly, so maybe it's not worth all that much. My wife tells me a story about when she did a show once (she's an artist), and a friend of hers who was also showing her work at the same show was having very poor luck selling her work, even though it was priced low and was very good quality. My wife told me she suggested to her friend that she triple her asking price, which she did, and immediately her sales picked up. Go figger. |
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Pillar of the Community
United States
1314 Posts |
Bear in mind that the average person isn't very bright and half the population is below average.
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Pillar of the Community
United States
6370 Posts |
Quote:I had a 7 day auction with a fair starting price (slightly lower than I thought worth)- $45.. The auction ended with no bids. I relisted it immediately at $65 BIN with best offer. Within 5 mins I had $55 offer, I went to click accept and someone bought it for $65 + shipping..... ebay makes no sense to me these days. I rhyme or reason.. Just need 1 person to buy it These higher-priced auctions are where some of the best deals are found, and they are the worst way to sell. They are largely ignored because few people want to commit to a higher bid at the outset, so they stick to $0.99 auctions. BIN buyers want the coin now, so they will also ignore any auctions. This effectively eliminates half of the people searching for the coin on ebay. There was an UNC Trade dollar with a single chop mark, certified by NGC as such, with a start price of $199. I didn't have cash to bid on it at the time, so I had to pass. It sold for the openning bid. Similar examples have sold for around $400, so I was bummed when I got the cash a couple days after it ended only to find out that it sold. |
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Bedrock of the Community
United States
10982 Posts |
Quote:Does the seller not have any costs to ebay for listing a BIN coin that does not sell? No. And all speculation/psychology aside that a major part of the problem IMO. ebay essentially eliminated all listing fees a few ago - that has allowed this to happen. And of course the coin market has been sluggish for a good 2 or 3 years as well. |
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Pillar of the Community
Norway
1358 Posts |
Isn't this just the way a free market works? I think Saruma gave a great example of how this works. ebay offers a few tools which made their market evolve into this way of dealing, it may just change overnight if 'the market' decides to change or if ebay changes their tools and/or policies. I know all about waiting long time for an item (not necessarily a coin) to become available at a competitive price, it can be frustrating. Patience you must have, my young padawan. |
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Valued Member
United States
467 Posts |
I am more nervous than I used to be about posting auctions with 99 cents. I am convinced the volume of auction hunters on ebay must be lower than it once was. ebay shows me my page views and although I have no kept written records, over the last few years the number of page views for a standard coin, all other things equal, has been reduced- at least from my experience. Something that I might have felt would receive 50 views in the past seems to only have 20 or 30 at the end. If 20 or 30 views translates to 5 bids...and it starts at 99 cents... I know I have myself purchased or bid on auctions where it seemed only one bidder in the whole world (other than myself) stopped me from getting a ridiculously low price. As a seller I am comfortable with auctions on very standard staples (ex: modern silver proof set) but not comfortable on eclectic things that fewer people collect and I have to hope that they are looking at ebay that week. With those I go to BIN. |
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Pillar of the Community
United States
2130 Posts |
I agree listing coins on ebay just doesn't make sense sometimes. I have listed coins 2-3 different times with very little action and then re-list and the coin sells within a hour. You are just waiting for the right buyer. You also may have a buyer that comes along and does not want to put in the pricing research mentioned by the OP. In this case the seller may get $10-$20 above the "price guides". It is a waiting game for most sellers. Somebody will usually take the bait...eventually. |
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Replies: 23 / Views: 4,061 |
First Page
Posted 10/07/2016 8:41 pm
