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 Replies: 48 / Views: 21,258 |
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New Member
 United States
24 Posts |
No head games involved here. I've stated that the reserve is $200 even. That's my minimum price. Now, if I didn't disclose this, I could see the reason for hesitation. I guarantee you that if you were to bid $200, there would no longer be a reserve, and no longer be a reason for a discussion about one. Also, I reveal the reserve price to anyone who emails me and asks about any of my auctions.
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Bedrock of the Community
United States
12437 Posts |
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I reveal the reserve price to anyone who emails me and asks about any of my auctions If you are going to use a reserve, that is the best thing you can do. Too many sellers with reserves refuse to disclose what the reserve is set at so they try to make you play a guessing game which is a waste of time. |
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New Member
United States
24 Posts |
I agree. I'm just simply trying to get a fair price for a coin set. In some cases, people don't set a reserve, and they lose out big time. Now, thats great, if youre on the receiving end of the bargain. The flip side is that I'm sure some sellers would need to wipe away the tears before they could seal the envelope and put it in the mail. I love this set, and there's no way, I'm going to just give it away.
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Pillar of the Community
United States
1915 Posts |
Instead of a reserve, why not start your bidding at $200? I get way put off on listings with a reserve that I bid what I feel is a decent bid, only to be told the reserve has not been met. To me if you start it at $200 and I feel it is a decent enough buy, I will bid. If not I will move on. You are not wanting to sell it for less than $200, so list it so the people that you are catering to will bid. Listing it for less could "cheapen" the appearence to a potential buyer. Someone willing to fork over $200 for a modern coin doesn't want a cheap coin, just a fair price.
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New Member
United States
24 Posts |
In the future, I'll take this bit of advice, and do so. That doesn't help with this auction tho. There are already bids, and no way to remove the reserve, and guarantee a $200 dollar selling price, unless I fix the bid, which would be totally unethical. So, we'll ride it out and see what happens.
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Pillar of the Community
United States
1882 Posts |
I've seen it too many times to count. Auctions without reserves end up with higher closing prices than auctions with reserves. Also, items that have lower starting bids tend to end up selling for more than similar items that start with higher starting bids. Seems like a paradox, but bidding activity brings on more bidding activity.
I wasn't trying to accuse you of anything...just letting you know that there are other strategies that will let you sell the coin for more. Of course there are no guarantees, so the middle ground solution would be to start it with no reserve, and a minimum bid of $200.
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New Member
United States
24 Posts |
I've updated the description, and disclosed the reserve price to all who view it. That's the best I can do at this point.
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Pillar of the Community
United States
1915 Posts |
Auctions are a double edged sword. They can be an excellent place for a buyer to get what they feel is a real bargain. It can also be a place where a seller might receive more than what they thought their item was worth. I have been an ebay buyer and seller for 10 years. I have made some awesome purchases and some bad ones. I have had some items sell for 10 times the amount I thought I would get and others not sell at all. The one absolute in an auction type format is that the market dictates what an item is worth. That is more up to date than any magazine or price guide will ever be. Look at the baseball card industry. 10 to 20 years ago prices were astronomical, today they are a mere fraction of that. People on this forum have often voiced their displeasure in ebay. Some complaints are justified like fees and lack of payment options. I just feel if you want the true pulse of any item's price, you cannot get any better than ebay. Millions if not Billions of buyers and sellers all in one spot. |
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New Member
United States
24 Posts |
I agree auctions are awesome. Thats how I came upon this coin. I had purchased a bunch of proof sets on ebay, and put them in a box. Then I ordered the Red Book and it arrived. I had a jug full of pennies, and the wife started searching thru them, with the book at her side. She asked me what the difference between a " Close AM", and a " Wide AM" was. Not knowing, I searched the internet, and found pictures of the close, and Wide AM. Then I realized that I had a Wide AM in my 1999-S proof set, that I could use as a reference. Imagine my shock when it turned out to be a " Close AM"! I immediately searched the internet again, and found out it was an error coin. What were the odds? A novice orders a proof set from the internet, and strikes gold his first time out. Well, needless to say, I'm hooked. I have a new hobby now, and it's great fun for me and my wife. What more could you ask for?.... Well, there's always a 1998-S Close AM I suppose, lol |
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Pillar of the Community
United States
4541 Posts |
sounds like a great way to get started on the hobby! never know what you have until you look
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New Member
United States
24 Posts |
Very true. The downside is, now I have to search thru 45 or so proof sets, coin by coin, by coin. I know the odds are slim of finding anything else outstanding, but what the heck, it keeps me at home nites, and out of trouble, lol
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Pillar of the Community
United States
1915 Posts |
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it keeps me at home nites, and out of trouble This is exactly why the wife tollerates my coin desk AKA "THE MESS" |
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Bedrock of the Community
United States
17884 Posts |
Next time do the auction with the starting price you want and not a reserve. The fees for a reserve action are higher. If you had listed it as a regular auction with a start of $200 I think the listing fee would have been $.25 With the $200 reserve the listing fee was $2.25 (listing fee plus 1% of the reserve amount, $2 minimum. I think you only have to pay the reserve fee though if the item does NOT sell. But since so many people do not like to bid on reserve auctions, they are more likely not to sell and you have to pay the fee. Reserve auctions are a revenue enhancer for ebay.) |
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Valued Member
United States
450 Posts |
Another thing that ebay kills me with is the final value fees and the fees from paypal for receiving the money ,I did over 1k in sales this weekend and the ebay charge was $93 and change ,I have not calculated the paypal fees yet but I think its safe to assume it was over $20+ |
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Pillar of the Community
United States
1915 Posts |
Quote:Another thing that ebay kills me with is the final value fees and the fees from paypal for receiving the money ,I did over 1k in sales this weekend and the ebay charge was $93 and change ,I have not calculated the paypal fees yet but I think its safe to assume it was over $20+ The amount Paypal charges is very good in comparison to how much it would cost you to process credit cards with another company. Plus mant people would not even qualify to have services through another company. Paypal is not very strict on who can use their service. The main problem I have with Paypal is that they started charging their fee based on the total amount you got from the sale, which includes shipping. Now I know not every person on ebay charges an appropriate amount for shipping. I have seen some folks charge $3 to $5 per coin. I will not bid on an item with overly high piced shipping. Yes, cover your expenses, but do not look to turn a profit on shipping. This is why they started charging for it in the first place. I just wish there was a way for them to determine wha is too much and what isn't, and stop charging us that just cover the ACTUAL expenses. |
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Replies: 48 / Views: 21,258 |
First Page
Posted 07/13/2010 11:06 am
