Getting started on ebay

Let me start by saying I've never sold anything on ebay. I've only ever been a buyer. However, I'm interested in trying to start selling just to try to make a few extra bucks. I thought I'd try coins because they are something I know a little about, and I thought I'd start off by selling some rolls of wheat cents, since I have quite a few of them just lying around. I wanted to see if there's anyone who has sold on ebay who is willing to offer some advice on how to get started and how to determine a fair price and determine shipping costs. I obviously want to make a profit, but I don't want to rip anyone off. Thanks a lot!

 

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If you have a sterling buy name (no negatives) you may want to consider another name for selling.

 

I have a 100% positive rating as a buyer. I don't think I've ever taken longer than 24 hours to pay for anything. Out of curiosity, why do you suggest a different name to sell with? Also, would that require a new account?

 

The first thing I'd recommend is search completed listings for people selling the same thing you are selling. You can see what theirs were selling for and how much they charged for shipping. That gives you something to go on. Also check how many are going unsold. See if their prices are too high or if the market is just flooded so there isn't enough demand. You also need to know how you're going to pack your item. You can get envelopes or boxes on eBay or Amazon a lot cheaper than you'll ever get them in a store. I'd also recommend printing your postage through eBay. I don't do it for single coins, but a roll is heavy enough that it's worth it. You get a discount over the rates the post office charges if you buy through eBay.

Also, think about what you'd be looking for as a buyer and try to meet that. Also, eBay offers 50 free listings a month and occasional free listings promotions. Take advantage of those. I never, ever pay listing fees.

I've never sold rolls of wheat cents so I can't give you advice specific to that, but these are good guidelines for selling anything. I suspect rolls of wheat cents might be a tough sell because so many people are selling them, but you'll find out.

 

It's impossible to get negative feedback as a buyer so I don't see why this matters, and people can only block you from bidding due to nonpayment. I'd use the same account. Your positive feedback will look a lot better than an account starting from zero. Many people won't buy from a seller with no feedback. The only reason I know of to start a separate account is to take advantage of multiple free listing promotions. If you do start a second account, it has to be from a different email address than your first one.

 

Is there anything that I have to do to get the 50 free listings each month, or are they automatically applied to the account? Also, if I list an item and it doesn't sell, assuming I used a free listing, I wouldn't pay anything, right?

 

I failed to ask about packaging in my last post. What is the best way to package an individual coin/roll/lot of coins?

 

Everyone gets 50 free listings per month or $5000 total. If it doesn't sell you don't pay anything. I sell about five things a week on Ebay and always ship coins in 2x2's surrounded by cardboard then inserted into a bubble mailer. I bought the 2x2's and bubble mailers in bulk to cut down on the cost as well.

 

Do rolls need extra packaging to ship safely, or is a bubble envelope sufficient?

 

If I was shipping a roll I'd buy small bubble mailers (I get them in lots of 25 on Amazon) and print out the packing slip and wrap it around it. I think that's enough protection, but some might agree. Assuming you buy your postage on eBay, I'm guessing mailing a roll will cost between $2 and $3, and if you factor in the other supplies, maybe a charge of $3.50 is fair. Also, if you want to buy your postage on eBay, you need a scale to weigh it.

 

My thoughts are that since there are no longer consequences to a buyer leaving negative feedback on a seller, negatives are freely given. For instance, you ship a roll of Wheaties but through an oversight, you only ship 49. There are buyers who will not hesitate to drop a negative on you rather than corresponding with you to fix your oversight.

 

Yep. I sold a bag of about 400 dateless buffalo nickels. He extorted me for a 3.00 partial refund because 5 of them had dates.

 

Really unbelievable but unfortunately there are individuals like this.

 

A question for those who deal in rolls and lots: Would I be better served to leave the coins unsearched and advertise them as such, or should I sort through them and separate them by decades and pull out key dates?

 

you should ask dmott88 what the best way is. He sells a lot of wheat rolls.

 

That's purely up to you. Be careful though because lots being sold as "Unsearched" if your customer doesn't find anything you're the only person to blame.
If you have a lot of rolls I suggest you pull out semi-keys and high grade 10's and 20's and list them individually. Then you can either sell the remainder as such like 40's-50's. Or 50's S Mint whatever is clever really. Truly depends on your volume.

I indeed do. Shipping one roll cost $2.39 using eBay shipping. It weighs roughly 7 oz with one bubble mailer, the roll wrapped in bubble wrap, and the invoice. Be sure to tape the roll shut to not pop open during shipping. If you ship to rolls its roughly 13 oz and costs $3.38. Anything after 2 rolls you're looking at Priority Mail Small Flat Rate Box which is $5.10.


Lastly I highly recommend this site for your shipping supplies if you plan on selling a lot. It's by far the cheapest place to buy bubble mailers at under $.10 a pop.

http://www.papermart.com/Product%20Pages/Product.aspx?GroupID=4459&SubGroupID=4460#4460


If you have any other questions don't hesitate to PM or ask these fine bunch of folk here. These are just my humble opinions.

 

Do you have any pointers concerning how to set prices?

 

You can check completed listings on eBay to get a rough idea where the market is. I would suggest finding out how much you have in them. (Time, money, etc.) Then base your prices around that and what they are generally going for. Keep in mind there is a Best Offer selection for Buy It Now listings. If buyers feel you are overpriced then they can shoot you an offer. It really depends on what you have in volume and how you decide to sell it. Without more information this is all I can really supply.

 

Keep in mind "completed" listings are not the same as "sold" - I usually only look at the sold listings to get a real feel for how things are selling. You can find items with no bids/buyer so it can confuse things...

 

Selling on eBay is easy. Go to the eBay site and look at their tutorials on selling. I just started selling this year using my only eBay name and I've had good luck with it.

It does take some getting used to. I had to learn how to print the shipping labels and mail my items. It's worth going through eBay for the mailing labels because you get a good discount on the postal fee with tracking. Also when you first activate your account for selling, the procedure is an automated phone call from eBay to confirm your account.

The biggest thing is to have good photos. You need good clear photos of your items, not blurry or dark. That helps the most. I got one of those Lighthouse digital cameras specifically designed for photos of coins and I could not sell anything without that.

I assume you already have a PayPal account. That's the best way for payment. If you don't you'll need one to be a successful seller.

The process of listing is easy and fun. Once you sell a few items, you'll like it.

But now for the surprise. Get ready for the fees. Not only is there a fee from eBay (deducted monthly) but also a fee from PayPal. I don't think the fees are very high because I don't sell that much, but they are significant, so take that into account.

I offer free shipping because I usually mail a package that is less than 3 oz in weight. But if you're going to ship several rolls, you'll probably have to charge for shipping. EBay has shipping estimators to help you decide.

Let us know how you do.

Steve