How can people do this on eBay???

I won this auction yesterday for a 1974 Mint Set.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=310028025526&ssPageName=STRK:MEWN:IT&ih=021

My winning bid was $3.36. The face value in the set is $3.83!!! Now, normally, I'd blame high shipping costs, but this guy charged me $2.14. The auction was for 2 sets dutch. This gave the sale virtually no chance of getting a higher bid, or at least made it twice as difficult. I just can't fathom why someone would want to sell a $6 Mint Set like this. He may have felt that it was either this or spend them, and the thought of turning these coins into positive eBay feedback, could have been appealing...

I don't know, but I am asking why anyone here thinks that it would be a good deal for him to sell like this.

 

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Look at the volume this guy sells. I'm sure he just lists as much as possible and if he loses a few bucks on a few auctions he probably makes that and more on the rest. I say, congratulations on your win and don't worry about it!

 

Sometimes ya win, sometimes the seller wins.

Just enjoy.

 

he has a 73 proof set going for the same thing

 

Sometimes it is just the luck of the draw. I sold 2 identical Xmas ornaments 1 week apart. I got $12.49 for the first and $35.50 for the second. No rhyme nor reason why the second is worth more than the first. It is just the 2 (at least) bodies decided that they wanted that ornament. i.e. sometime you win, sometimes they win. That being said, I would not run a dutch auction. It scares some people off and a lot of people do not understand them. Your odds of the seller saving enough on the listing fees to make up the lower selling price are, at best, slim due to the lack of bidders. Therefore I like bidding on them because I usually get a deal.

 

Yup, I was selling some Near Date SBA's for ALC, and one of them sold for 20$, the others between 7 and 12... I dont know why the first one was so high, but it was.

 

Dutch auctions

This really boils down to dutch auctions Mike.

Most bidders don't really understand them and it often works to the sellers advantage. I used to run them occasionally and actually my lone negative on ebay is the result of one.

Let's say I put up 10 identical items (as I did when I got my negative). A smart bidder will bid on NINE if he/she wants that many but NEVER all ten.
Usually you'll get some greedy person in there that bids on all ten and that automatically moves the price up. Now if the current price is $3, for example, and I want nine of the ten I'll put in a bid of, let's say, $3.25 at the last seconds. Unless I'm outbid I will get nine at $3, NOT my $3.25 bid. The person that bid $3 will get one. The price does not go up until ALL are bid on at a new level.

Before the state quarter program started I picked up a lot of proof singles cheap by bidding smart. I've also had clowns ruin a good price by bidding on ALL availabe on too many occasions.

It's a risk a seller takes but done correctly it usually turns out alright.

My negative came from such a scenario. A guy had bid on all ten items - then a smart bidder came in and bid on NINE at the end. Well, smart bidder got nine, greedy bidder got one. Guy could not fathom it. I even offered him 10 as I had plenty but what does the idiot do? Hit me with a negative 89 days after auction.

Thanks buddy. You're stupid and it's my fault. Will tell you this much though he walked real funny for a while after he got my "thank you" email.

clembo

 

By going to the listing screen and filling it out, then paying the requisite fees.

 

To some people, it is not about money. Personally, I'd rather sell a mint set to a collector than ruin it by introducing it into circulation.

 

I bought one of the 1973 proof sets. $6.49 shipped, can't beat that! Thanks for the listing.

 

Sometimes selling on ebay, as a seller, you have to take your lumps if something does not sell for it's worth, and roll with it. It's good business, unfortunately much lacking in todays enviroment.

 

Ebay is a strange strange place, lol. You cannot really determine what will happen, just hang on and hope for a good ride, lol ( as a seller that is )

What gets me, is, i'll have a no mover in store for $25.00 fixed......after 2 months it goes to auction at 99 cents.....then it sells for $35. I just smile.

 

Nice find.........

 

That's a good price even with the ship cost
I can get 1973's mint sets for around 10% under bid 4.50 and I'm able to look at what I'm getting in person for cherry picking

There are many sellers who show up at local coin shows who sell out of there car trunks.
The trick is to know them. this is most time the best deals around

 

The Key is that he or she has an eBay Store! I know the listing fees to a Seller with a eBay Store was more but with the price change, he or she is paying much less (possibly $0.15) per Auction Listing! It is a bonus when the Seller lists items in a Dutch Auction as they pay only one Listing fee and pay final price fees for only the items sold. If I were to list the same item individually, not having an eBay Store, I would probably be hit by a $1.25 Listing fee then the Final Price fee and would pay probably a total of $1.60 or more. However, the Seller would probably only have to pay $0.50 to sell one item and probably only $0.75 if he or she sold two. I am not up to date on the current fees that eBay charges but the example that I gave, is pretty much how it works!


Frank

 

EBAY is for the birds.

 

ok... another silly question. I recently received the coins and they were spectacular! I want to leave feedback, but that option is unavailable. Can someone fill me in on why?

 

(((What gets me, is, i'll have a no mover in store for $25.00 fixed......after 2 months it goes to auction at 99 cents.....then it sells for $35. I just smile.)))

Well, for one thing I cannot get to your shop. And the other thing is I might not have researched the coin and bid appropriately. Another thing is that it is the one coin I need to finish my set and I am tired of searching so I pay a bit more and get it quicker. Or, I am an impulse buyer and fully intend to get that coin at any cost.
:smile:

jeankay (sheepish grin)...

 

clarification Jeankay, I meant it was in my Ebay store for 2 months getting stared at , at a fixed price and was ignored......

So, I start it out at 99 cents to entice bids, THEN, a bidding war develops and it sells for more than I had asked originally. THATS what I meant by " go figure". Those bidding wars are funny sometimes.

I do not have a brick and mortar, I have a website and an Ebay store....thats all. I am not a coin dealer, I only play one on the internet, lol

 

Why did one of the mints include two pennies?