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 Replies: 43 / Views: 4,039 |
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Pillar of the Community
United States
3479 Posts |
I'm thinking about testing out the waters on ebay by offering a premium classic coin graded by PCGS with no reserve to see how reliable ebay's auction services are. I've heard all the stories about how the auctions are rigged by the owners of coins using shill bidders. But I have a few premium AU-graded Seated dollars and Trade dollars. I wouldn't mind flipping one to test out the response. Have any of you tried it with no reserve? Edited by MikeF
07/09/2017 12:05 am
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Rest in Peace
10197 Posts |
Mike, I haven't so don't know any answer to that. Shills, yep, many, but since like the song says, "I ain't got noo monnnnneeee!" for that type of product, mines all small. On Other auctions, I can kinda catch the shills, ebay it's a lot harder. Be interesting to find out tho, I'm shivering from when you said no reserve tho, yikes that's high $ stuff there. |
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Bedrock of the Community
 United States
12477 Posts |
I've only recently gotten into selling coins on ebay. I've sold some silver, proof sets... a penny.  The majority of those were auctions with no reserve and starting at $0.99. I have to say, I ended up getting fair prices for them. I say go for it. Whether you start it at $0.99 or not is totally up to you but, that generally guarantees early bids and it will create competition making the price jump up very quickly. If it turns out that the end price is totally unacceptable, you can cancel the order. It's frowned upon but, I did it once and the only repercussions were messages from the buyer trying to tell me I was dishonest.  Take a look at Sold listings for similar coins that were auctions and see what their starting bids were. It's always good to research what other sellers have done before and what the ultimate results were.  Edit: here's a couple Seated dollars that sold starting at $0.99 (I don't know if the results are good or not): 352074609378272714823129In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
Edited by spru
07/09/2017 12:36 am
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Valued Member
United States
338 Posts |
That's a big risk. I'd notify CCF members so at least we can try to help you get a fair price. I'd bid for sure on a problem free Seated dollar. |
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Pillar of the Community
 United States
3479 Posts |
Quote:
I'd notify CCF members so at least we can try to help you get a fair price That would completely defeat the purpose. My objective is to find out how reliable ebay's auction services are without shill bidders, friends, or acquaintances driving up the price. As Spruett pointed out, if the results are deplorable, I could always renege on the deal. I'm not looking to make a career off of ebay selling, I'm just trying to put their services to an honest test without any outside intervention. |
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Pillar of the Community
United States
5663 Posts |
If you sell a PCGS-graded high end coin and provide good photos, you'll probably get a reasonable price. But if you intend to cancel the sale if you don't get an acceptable price, I personally wouldn't list it without a reserve or minimum bid. I think most people would feel it unethical to knowingly sell a coin in a no-reserve auction, then cancel if you don't get the price you want. If you want to test the system like that, you'll have to take some risk.
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Pillar of the Community
United States
7509 Posts |
Mike, ebay auction services have absolutely nothing to do with how a seller presents his/her auction, ebay provides the tools for anyone to sell whatever it is they want to sell,the reliability rests upon the shoulder of sellers not the ebay site. I have been selling on ebay for many years and I do agree unfortunately there are sellers who shill and give the honest sellers the bad wrap! In reality selling an item in auction is a gamble, some times you win and other times you lose, I suggest if you are going to list a premium coin and you really dont want to loose your shirt on it, put a reserve on it to be safe, ebay reliability and services has nothing to do with an individual auctioning off their items.That's my humble opinion. Mike |
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New Member
Australia
17 Posts |
For higher value coins, the 99c game is always a risk. As someone has already pointed out, to sell on ebay you really need good photos, it's very important. Also you can cancel the order after sold but keep in mind buyer can leave neg feedback which will affect your seller account. |
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Bedrock of the Community
United States
12477 Posts |
My opinion regarding Reserve Prices is don't do it.
If you want to sell something, start the bidding at the "reserve price" if you are concerned that it will not be bid on.
As a buyer, I pass by auctions with a reserve because they're not really auctions. As a seller, you must think about what potential buyers feel of the listing. I believe buyers/bidders seeing "Reserve Not Met" is a deal killer.
In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Moderator
 United States
56855 Posts |
To renege or cancel an auction is not a nice thing to do. How would you like it if it happened to you? If you want to test the waters, put a coin up for auction starting at 99 cents with maybe free shipping and go through with the sale no matter what. I think it is wrong to cancel an auction. Good luck to you. John1 |
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Pillar of the Community
United States
2189 Posts |
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If it turns out that the end price is totally unacceptable, you can cancel the order. It's frowned upon but, I did it once and the only repercussions were messages from the buyer trying to tell me I was dishonest. It is Dishonest. |
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Pillar of the Community
United States
4469 Posts |
I have listed coins starting at 99 cents that sold for over $200. I quit the 99 cent starting price after losing my shirt on a couple of coins. There are a lot of bottom feeders on ebay trying to get a deal as noted above it is a risk. |
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Pillar of the Community
United States
2189 Posts |
Quote:
I quit the 99 cent starting price after losing my shirt on a couple of coins. I've done the same thing but I and did honor the selling price. I expect no less from a seller |
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Valued Member
United States
467 Posts |
I have lost money on some .99 in the past-- but I always honored them. Now I follow this rule of thumb: 1. If it is a US ASE or Gov't OGP set or if it is silver bullion-- .99 has never done me wrong. 2. If it is anything else that does not have a huge auction base of lookers-- I do Buy It Now and allow offers |
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Pillar of the Community
United States
509 Posts |
1) I would not cancel an item after it sold because price was lower than expected. That's part of the auction risk/reward. How would you feel if heritage didn't honor some of your bids after you thought you won?
2) letting CCF know about your auction is not shil bidding, it's advertising that you have an auction going for a coin you think some of us might be interested in. I don't think it's unethical to post on CCF that auction ending soon and possibly still in "good deal" territory.
3) the only way to test the method is by trying. I've had some coins sell for 2x or more than I expected and others a good amount under value. If you are worried list it as a buy it now with best offer available. This way you set a high buy it now to see if you get any bites at above value and then see what offers come in. I think a high end, graded coin should do well regardless of method. Post good pictures and do research on ending times, etc to maximize views
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Pillar of the Community
United States
1963 Posts |
I say don't. And don't forget the 13% in fees that you lose too.
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Replies: 43 / Views: 4,039 |
Posted 07/09/2017 12:28 am
