eBay Sellers - Something I've Often Thought

Ran into a nice concise statement in the October edition of The Numismatist of what I've often thought as I search on eBay.

"After all, money is only made on coins when the transaction actually takes place!"

Nicely sums up what I think about listings when I consider them overpriced.

 

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But money can just as easily be lost when a transaction is made.

For example, selling at a loss, unreasonable cases from buyers, lost packages, etc...

I do agree that there are many overpriced items tough. One just has to search harder for the hidden gems.

 

most expect a bargaining to occur when it comes to coins, so perhaps you make a offer and see if they take.

 

From my beginner perspective it is interesting to watch what doesn't sell at the advertised price. You can organize items by what is about to expire. It is a pretty good indication that something is overpriced if a hundred people look at it and nobody buys it.

 

You may be "new," but you're obviously not new to wisdom.

 

Two recent offers I made:

1. The guy has a coin listed for $50. it was a series I know well so I could tell it was over priced. CV was $35. I offered $30 as I had been looking for a decent example for a while with no luck. He countered with an offer of $27.50! He said he always overprices and waits for an offer.

2. Different guy listed an old German states 3 mark for $89.99. It worth that in UNC maybe but not in the VF he had it listed as. I offered the current CV of $32 and gave him a link to the relevant NGC page justifying my bid. He countered with $69.99, still twice is list price.

Two very different approaches. One made a sale, the other didn't.

 

Sakata,
I like your approach of linking to a source in your offer.
Noob Question: What is CV?

-Gregg

 

Not necessarily, and is simply because you're not taking demand into consideration. Not every item has a ready, willing, and able pool of buyers waiting to pounce as soon as it is offered, even at a reasonable price, and is particularly true with more esoteric items/material.

 

Plus all the games that they play with what listings are visible when and to who and the order they appear in. They would get more sales if everything was available all the time to every user

 

This is very true! Recently I watched a Morgan that ended with no bids at a starting price of $48 sell a few days later for $54. The $6 is not a big increase, but it still shows that just because no one bid on something at one particular point in time, that doesn't mean it was overpriced. Sometimes the right person isn't there when the coin is auctioned, but they later find it as a buy-it-now or when it is relisted as an auction.

 

"CV" is "Current Value," redundantly used somewhat redundantly by sakata.

 

As an E-Bay Seller, I feel compelled to point out that sometimes sellers will offer a coin at a very high price as an advertising piece. They don't really want to sell it, but they will entertain strong offers that allow them to profit while the coin serves to draw prospective buyers to examine the remainder of their inventory.

And sellers definitely want you to make offers if they list their coins as BIN or Best Offer. Don't worry about insulting them, if they are worth their salt, they will have an auto reject set up to decline offers they consider low ball.

 

No, not Current value, but Catalog value. Current value is subjective and can vary from moment to moment. Catalog value only changes when the catalog is updated, which for some coins seems like never.

 

Another thing not being taken into account by a lot of hopeful buyers are the ebay/paypal fees that go with selling on there. You're looking at 10% off the top when a sale is made.

 

Just remember that it is not always because it is overpriced that it does not sell. As a collector I see many coins on eBay that don't sell that are not overpriced. As my collection matures, there are coins that I want in my collection that I cannot afford today. Perhaps because I have purchased others this month and my budget is tapped. Or because I already have one.

 

I'll be darned. I always thought it differently. You live and learn.

 

Catalog values are essentially irrelevant in today's market.

 

So true but linking to catalog value to show seller the reason your reality does not match his fantasy is wise. Few bigger dealers will offer 50% of catalog. If they are told to take all or none the offer goes down so that what they don't want is free to them

 

Unless it is a current catalog...in which case CV becomes current value

 

Coins in the middle grades vary greatly. EF has such degrees of acceptability, the demand for a particular coin will be based upon how a collector builds the collection and affordability