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Price Strategy

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Author Previous TopicReplies: 7 / Views: 1,484Next Topic  
Valued Member
Alexzwarenstein's Avatar
United States
59 Posts
 Posted 04/18/2011  09:51 am Show Profile   Bookmark this topic Add Alexzwarenstein to your friends list Get a Link to this Message Number of Subscribers
Being as I am a Brit, and by definition a bit uncomfortable talking about money, I hope to get feedback from a common sense American.

Is there a concences about the virtues or otherwise of selling on ebay?
Also, since I need to sell some pieces, I was thinking of a fare pricing stratergy; half way between red and blue book prices...thus affording a fare deal all round.

What say you?
Valued Member
General Tso's Avatar
United States
341 Posts
 Posted 04/18/2011  10:13 am  Show Profile   Bookmark this reply Add General Tso to your friends list Get a Link to this Reply
I guess it depends on what your selling. I start all my auctions on ebay at .99 cents. I have never run into big loses. If it's a fairly well know item, for me, it usually sells for what it's worth.
Valued Member
Alexzwarenstein's Avatar
United States
59 Posts
 Posted 04/18/2011  10:40 am  Show Profile   Bookmark this reply Add Alexzwarenstein to your friends list Get a Link to this Reply
I am selling a number of very good regular P Morgans.. they are ungraded but would I think fall variously between ms 63 to ms 65.
what you say is very,very interesting...starting at .99c.
Other pieces I want to sell are higher end Morgans..I am going to have to make a judgement as to whether to get them graded. Do you have any experience with that issue?
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 04/18/2011  11:10 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
You propose a possibly-difficult course.

If you are not already an established Ebayer, there will be trepidation on the part of buyers. This may be allayed with the quality of your auction copy and your images; you must provide clear and accurate images to achieve the best results. Shipping cost is also a consideration as you're in Great Britain and the vast majority of your audience will be across the pond. They will be factoring the cost of shipping into their bidding.

Another thought concerns VAM variety. Oddly enough, all but the most popular VAMs sell for higher prices when sold unattributed; buyers wish to believe they're getting a "cherrypick." Worse, a Morgan variety collector who's on his game will check your other auctions, and if you're offering attributed Morgans as well as unattributed ones, they'll know you've researched all your coins and your unattributed offerings are likely not of value to them. So one must take the balance of the evidence when choosing whether or not to attribute.

With that said, by all means find out for yourself whether any of your holdings are of added value due to variety. Amongst P-Mint Morgans, very few dates besides 1878 and 1921 have added-value varieties.

Here's an example, one of my auctions which ended last night:

http://cgi.ebay.com/ws/eBayISAPI.dl...TRK:MESOX:IT

That was a very popular added-value variety, and I'm a longtime ebay seller with a known specialty in Morgan dollar varieties. It did pretty well against the known market. You'll have to come close to my images if you're going to maximize your value; buyers will need to be able to grade from your pics if you wish them to bid appropriately for grade.

Which allows me to segue into grading. Given the inherent cost - not to mention time involved - of sending coins to the US for grading, I should think you'd want an arbitrary value cutoff of, say, US$250 to warrant the effort of having the coin graded. I would use ANACS (accuracy & cost-effectiveness) or PCGS (highest market value but more expensive) as your grader.

If you're going to ebay, maximize your chances across the board. Write a clear and concise auction. Include images of grading quality. Cause the auction to end on a weekend evening (I usually end mine Sunday night, but Fri/Sat are equally fit) at no later than 2300EST, allowing bidders from both coasts to be at your auction during their free time.

Or, consider contacting Bobby and Susan, the owners of CCF, regarding their consignment service. They've already developed the ebay clientele for your coins over many years and thousands of Feedbacks.
Valued Member
soccerdad's Avatar
Canada
311 Posts
 Posted 04/18/2011  6:14 pm  Show Profile   Bookmark this reply Add soccerdad to your friends list Get a Link to this Reply
If you list a nice coin with good pictures you will get a good final price. I see a lot of sellers using a starting bid close to the value of the coin. To me this does not make sense as it will cost you more in fees to sell with with high starting price. I start all my auctions at 99 cents or less. Lets say you have a really valuable coin worth over a thousand dollars. I would still start the bid at 99 cents, as this coin will still sell for its true vale or more on ebay.
Valued Member
tampabaygrampa's Avatar
United States
408 Posts
 Posted 04/18/2011  7:13 pm  Show Profile   Bookmark this reply Add tampabaygrampa to your friends list Get a Link to this Reply
In my opinion, SuperDave gave you some fantastic advise.
I don't see how you can go wrong by following it. Any/all
of his suggestions will help you be successful.
Valued Member
Alexzwarenstein's Avatar
United States
59 Posts
 Posted 04/19/2011  01:09 am  Show Profile   Bookmark this reply Add Alexzwarenstein to your friends list Get a Link to this Reply
SUPERDAVE, Thank you so much for your very detailed and considered advice. Luckily I live in New York and not the UK, so that difficulty is out of the way. everything you say makes sense..as also confirmed by soccerdad and tampabaygranmpa. I am much obliged. I am about to take a look at your posted URL. Thanks again one and all.
Bedrock of the Community
United States
20753 Posts
 Posted 04/19/2011  07:37 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Is there a concences about the virtues or otherwise of selling on ebay?

NO.
As already noted though, if you do plan on selling on ebay, follow SuperDave's info. Otherwise there really is not rules, plans, virtues, honesty, etc. on ebay.
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