help us new ebay buyers

Please tell us newbies what to watch out for buying form ebay

how do you know if their feedback is legite

do some of them make up bidders to bid you up or keep you from getting multiple auctions so you dont get better shipping rates

can you actually get any good deals

why do some of them charge $6 and others $1 for shipping

is their any honest ebay sellers on this forum?

Be

 

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hello.
Most people on eBay are not going to make up fake bidders to get the price of the auction up. Feedback can only be left for someone if you have completed a transaction. And it is very important to read feedback on people to make sure they don't have a bad reputation. As far as the shipping goes, I have paid 5.00 for shipping and when I received the item, it was clear that the postage was .37.
I think that there are some really great and honest sellers on eBay, but for the most part it is hard to get a good deal.

 

in contrast......the coins I have managed to snipe at the last second or two on ebay have been fantastic deals for me.

Ive gotten many old hammered coins that book at $60+ in their current condition for less than $15 shipping included.

The trick with ebay is sniping and never allowing yourself to be drawn into a bidding war.

I dont buy off of anyone who askes for $5 to ship a coin unless insurance is included...

and I dont buy off anyone who has less than 99% positive FB..

 

People that charge high shipping rates are there to cheat out ebay on the final % they earn from the sale of the product. Bidding last second, "sniping" is the only way to go. Otherwise, you only help to inflate the prices in the end. Check that feedback!

 

Well guys, I put up a thread titled terms of sale. You should take a minute to read this. When buying coins, whether on Ebay or wherever, the same rules should apply.
Know your dealer, know your purchase, know your price.


http://cointalk.org/showthread.php?t=989

 

Whenever I am buying a coin off a web page or off e-bay, I always factor into the price how much would it have cost me in gas, tolls, parking, time, etc. if I bought that coin in a dealer shop. Now if I lived near coin shops that would be another story. As for the seller, with anything else shopping around for a good dealer is as important as shopping for that coin. They go hand in hand. I find that this forum has alot of informed people in regards to this subject and it seems also some pretty good dealers with their own web/e-bay pages.

 

Good advice sir.

This forum is the best I have seen. Now granted I don't get around to many, but I like what Peter has done here.

I am honored to be a small part of it.

 

There are some great ebay sellers out there.
I advise coin collectors to do a little research before bidding.

1. Is the seller an actual coin dealer or just someone with a computer? Check their other auctions...are they selling just coins or do they sell anything they can get quantities of?
2. Check their feedback...not just the number. READ the comments and you'll learn a lot about a seller.
3. Don't bid in an auction where the bidders (your)info is kept private. Many people selling deceitful counterfeits do this so their unknowing bidders can't be warned that they're buying fakes.
4. Avoid dealing with people whose feedback is private...they are hiding something.
5. Read the terms of sale. Know in advance how much shipping and insurance will cost, and what the return policy is. Find out what payment forms are acceptable and which are not. Some sellers don't want checks...some don't accept paypal...you should know these things before you bid.

Hope this info helps

 

Let me take your questions, in the order in which you have asked them.

1) You should pay most attention to the feedback left by experienced coin collectors. This will involve looking at what the person buys, how long they have been buying collector grade coins on eBay, what kind of auctions they bid on etc.
See if the seller has a lot of repete customers. Pay attention to feedback left by buyers. (not sellers) Make sure it isn't padded by fake auctions, such as 1 cent recipe auctions. Check their nuetral and negative feedbacks using the link for that purpose. Check their responses to negs. Check their feedback left for others.
I know this seems like a lot, but if you really want to get an idea of who you're dealing with using their feedback, you'll have to do your homework.

2) Shilling is a major problem on eBay. Many sellers have alternet ID's, or cohorts, that will place dummy bids in order to bump up the selling price. If you find that one particular member is constantly bidding on one particular sellers auctions, that could be a sign that shilling is taking place.
The best way to avoid getting shilled, is to never bid more than you are willing to pay, and never bid until the last few seconds of an auction. (snipe)

3) Yes, there are good deals to be had, but you really have to know your coins, and you really have to know how the eBay system works.
If you don't, you should stick to buying your coins from a reputable dealer outside of eBay.

4) Shipping rates vary for a number of reasons.
Some sellers simply don't know how to keep their S&H rates to a minimum. Others factor in all their overhead expences, and then add that as a handling fee.
The most common reason, I believe, is fee avoidance. You see, a seller pays final value fees to eBay, based on the ending price of an auction. The seller does not have to pay fees on any profit he makes as the result of S&H.
You should always figure in the S&H charge, along with your bid, to come up with the total amount you are willing to pay for a coin.

5) There are honest eBayers on this forum. The most frequent poster that comes to mind is Tradernick.

Now, just a few tips about bidding on eBay auctions, that come to mind.

Don't bid on private auctions.
Ask the seller any questions you have, and get those questions answered to your satisfaction, BEFORE you even consider placing a bid.
Always make sure the seller has a return policy, and that it is clearly spelled out.
Whenever possible, always pay for your purchases with a credit card. This is for your protection.
Don't buy coins from any dealer in Asia. There are just too many fakes comming out of those countries.
If you have any questions about a particular auction, or a particular seller, ask us. We will do our best to help you.

This was all my opinion, based on my experience. There are many other factors to be considered when buying on eBay, and if any of this isn't clear to you, I will be glad to elaborate.

 

Just my 2 cents, stay away from ePay, sooner or later you will get gyped. Stop and think about it, you have absolutely no recourse if you end up on the short end of the stick. You have no way to contact eBay or PayPal and there are no other options other than show up at the offender's door some day.

 

Well I would certianly recommend tradernick as a Ebay dealer to use. His terms are plain simple, and his feedback is great. Also, his advice here is honest and good.
This is what he does for a living. That would always be my first choice in picking a dealer.

 

Thanks JODY and ND, I appreciate the vote of confidence.

Ebay has certainly allowed me to meet some fantastic people who share the passion for the hobby. I understand that buying on ebay has become more difficult in the last few years. I first started selling on ebay in 1995 and believe me there's been a lot of change!
There are honest ebay dealers. There are fair prices, even bargains. But you have to do your homework before bidding...both on the item and the seller.
Luckily, I can enjoy the best of multiple worlds...I sell on ebay and I have a full service coin shop and I get to attend a fair amount of shows, so my life is as fun now as it's ever been.
By the way, if anyone is ever in the Orlando area please stop in the shop for a bit...I'd love to buy you a coffee and talk coins.

 

I've been through there many times. Might make it back some day.
Got anywhere I could park an 18 wheeler?

 

You are quite welcome tradernick. I don't make public endorsements very often. I also would not recommend a customer spend their hard earned money anyplace that I would not send mine.

 

I buy almost all of my coins off of ebay. Since I have found two forums that I frequent, I do occassionally check w/ the folks on the forums. I have been ripped off on ebay. So take your time!

 

Here are my three basic rules for buying from any dealer I don't know.

1. Full time dealer
2. Member ANA or PNG
3. Listed in Numismatic Dealer Directory


Why these things don't necessarily protect you against everything, it does make it a little easier. Full time dealers make a living at buying and selling coins. It is tough to make everyone happy, but most try. The PNG and ANA both have mediation services if that need ever arises. On top of having guidelines for dealers to follow.

Now of course this is just one dealers opinion.

The greatest advice I can pass along is take the time to get to know your dealer. Make small purchases until you both get a feel for each other. Relationships are built over time.
People often feel if they don't get the coin now, they never will. Well this just isn't the case. I can think of only a handful of coins that need to be bought as soon as they come available, and they won't be on Ebay or any other online auction.

So take your time, and build a relationship with your chosen dealer. This will only benefit you in the long run.

 

Jody sorry I personally don't own a space that you could park your rig but if you're coming to my town I can pick you up at the truck stop or whereever you are and we'll grab lunch, if you like.

 

Sounds like a winner, Nick.
Don't be surprized if I take you up on that.

 

No problem, Jody. Just let me know in advance and I'll make sure to be around.