| Author |
 Replies: 17 / Views: 2,955 |
|
New Member
United States
10 Posts |
Short version: How do you feel about being the 2nd bidder in an online auction, and winning it for $0.06 free shipping? The seller must be losing money, even if it's coming from Asia or down the street. But if you didn't bid, the seller would have lost even more. Long version: I'm sure we've all seen auctions starting at $.01 free shipping, priced to show up on the "lowest to highest" sort for more exposure. However, I just recently noticed that quite a few coin auctions are actually selling for under $0.35 with free shipping. Many of them are from Asia, but I've seen a few domestic auctions end up this way too. The coins are decent pieces: antique Chinese coins, US and Canada copper cents in fine condition, unique token-like coins with dragons and such. There are coin auctions that actually end at $.01 free shipping! Those don't even exceed the melt value of their base metal, let alone shipping costs. For anyone wondering how to win these, go on ebay late on a weekday night and search for a generic term like "coin" and sort from lowest to highest price. There will always be auctions for $.01 free shipping, and the soonest ending items show up first in the list. To do one better, check out the items around $.06 because most the other cherrypickers used the former strategy. So I woke up this morning and saw that I won an auction for $.06 with free shipping from China; I was the second bidder. Yes, the first bidder apparently put in a MAX bid of one cent. I feel bad for the seller - I would have paid a buck. I understand shipping from Asia to US is ironically less expensive than mailing a letter down the street. I believe it's still at least $0.25 per packet. But I can't let the other bidder have it for a penny... the seller would lose even more and I wouldn't get the item. What are your thoughts on the matter? This topic can also include situations like winning a silver quarter for $1 free shipping, etc. (far below melt, even if it's above the price of a stamp). |
|
|
|
Bedrock of the Community
United States
36638 Posts |
I'm sure the seller was expecting far more. But I also expect anything that comes out of China to be a modern counterfeit.
It might be a "come on" to buy more fakes directly from him. Beware!
Edited by IndianGoldEagle
07/17/2018 1:33 pm
|
|
Rest in Peace
United States
10625 Posts |
They may also be buying positive feedback.
|
|
Pillar of the Community
United States
6130 Posts |
I won one of those and nothing ever arrived. I didn't want to open a claim for a $0.06 auction, which is probably what the seller was banking on.
|
|
Bedrock of the Community
United States
36638 Posts |
Finn, make sure you post negative feedback for him.
|
|
New Member
 United States
10 Posts |
Thanks for the replies so far everyone. Just want to throw into the conversation, that these situations happen domestically as well. Example: A 1968 Lincoln Penny from a seller in Florida recently sold for $.01 free shipping. |
|
Bedrock of the Community
13014 Posts |
Quote:
What are your thoughts on the matter? I think that sellers that start something at 1 cent or 99 cents are asking for things like this to happen. Granted some of the examples just weren't good candidates for online sales, but low auction starts on ebay are always a risk for sellers and without a strong following usually don't end up well for a seller |
|
Pillar of the Community
Canada
5239 Posts |
It is a promotion gimmick, I am sure, to get more attention for their offerings. The cost of advertising, as it were. They probably count on it not happening very often, and if it is too often they will eventually stop that tactic. There was an ebay seller in Canada who started all auctions for 99 cents with free shipping. However, very few sold for that little. The auctions I may add were quite popular. Edited by oriole
07/17/2018 5:31 pm
|
|
Pillar of the Community
 United States
7934 Posts |
Classic loss leader tactic.
Only the seller knows if it's working.
Though I suppose you could get an idea by looking at all their sold items.
From a buyer's viewpoint, I'd have no qualms whatsoever. Unless you suspect it's a kid selling off his parents' stuff.
|
|
Pillar of the Community
United States
509 Posts |
Quote:
But I can't let the other bidder have it for a penny... the seller would lose even more and I wouldn't get the item Big heart?  |
|
Valued Member
United States
330 Posts |
It's rare that I see an auction start at less than 0.99, and I'm not really sure why anybody would start theirs at 0.01. The only time I felt bad about winning an auction was a Canadian silver quarter that ended at $2, free shipping, and that's because I forgot to bid on the other one the person had up. It ended up costing the seller more to ship it than the ending price.
|
|
New Member
United States
10 Posts |
Ok yes I like thinking of it as a promotional cost or loss leader tactic. In fact, I had bid a couple of the seller's items up above $1 and losing before landing on that coin for $.06 so I suppose I helped the seller indirectly. And yeah listing an item for less than it costs to ship is definitely asking for trouble.
|
|
Bedrock of the Community
United Kingdom
17901 Posts |
I recently sold an uncirculated 1971 British penny for £0.01, although I charged postage for it! I put the coin on ebay really as a personal 'protest' about the ludicrous prices some other eBayers were trying to charge for similar coins in circulated condition - I hope that by checking sold prices they might get the hint!  Edited by NumisRob
07/18/2018 5:36 pm
|
|
Pillar of the Community
United States
7934 Posts |
I am baffled by the discussion on this  I am mostly a seller (rather than a buyer) on ebay. I sure don't expect anyone to take pity on me because I have priced something too low to make money on it. If I make a pricing mistake, I take it as a lesson. So ... in lieu of guilt, just think that you have provided an educational opportunity  . |
|
Pillar of the Community
Australia
1333 Posts |
You shouldn't feel guilty about winning an auction even if it definitely is under costs, however if there was some sufficient reason why the item were repealed eg stolen or mistake listing, all this other stuff then. Then I wouldnt bother getting up in their grill over 6 cents, propably leave a neutral review. I mean paypal gives you 2 cent for testing if you account is probably linked to your bank.
Hmmm maybe I shall try this tactic out, and sugguestions on what the title should be?
|
|
Pillar of the Community
United States
717 Posts |
As others have mentioned, this may be a way for the seller to get more positive feedback.
|
| |
Replies: 17 / Views: 2,955 |
Posted 07/17/2018 1:46 pm
