OGH + CAC = $$$

Do some browsing. If you think eBay is bad, you've got a real surprise awaiting you.

 

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I find it hard to believe all these other sites -- FB, IG, Whatnot, Redditt, Etsy, etc. -- have folks who own high-end coins AND others willing to buy off the sites.

I get Ebay -- even with all the unscrupulous frauds -- doing big coin business because it was a legit auction place dating back to the dawn of the Internet in the late-1990's.

Surprised these others do business in any coins where serious $$$ are at risk.

 

I have seen high end coins offered on IG and facebook. Quite a few sell (nowhere near the quantity of eBay but still a decent amount). Whatnot, from what I hear, has a lot of activity too and some dealers sell a ton there (even some bigger names like Trader Bea and Witter).

 

Low 5-figures the upper limit for those sites, ddddd ?

Unless the selling costs are so low that knowledgeable buyers/sellers are going there to avoid the 22% HA or 12.5% GC fees, I'm surprised high-end buyers/sellers are using the sites.

The more selling sites, the more the word spreads about our hobby.

 

I've been seeing some of the action on facebook. It seems like there are a lot of people there who are eager to pay pretty strong prices. I thought about trying to unload some clad proof sets there, because I noticed a few people willing to pay above retail for them one day. I'm not familiar with selling anything on social media though, so I'm weary of potential problems.

 

Strong prices relatively -- in other words, above FMV but still under $300 for most sales, Adam ?

Maybe the buyers (or sellers) are knowledgeable numismatists who know what ungraded raw coins/sets should go for an they're getting a good price.

 

Yes, to your question. That mostly seemed to be the case.
There are a lot of sellers there, many of whom definitely know what they're doing. I could only speculate about the buyers. But I saw enough that I was tempted to dip my toes in the water. And no ebay fees is a perk too.

 

As soon as I joined one fb coin group, a lot of others popped up. I was surprised how much action there was.

 

I would say low 5 figures is as high as you see but then you I don't see many coins above that level on eBay (those high dollar items tend to go to the big auction houses like Heritage). And Facebook plus IG have no fees (just PayPal fees if using that as the payment method). Whatnot I believe has different fee structures based on how big the seller is (volume of sales).