I am thinking about starting to sell on Ebay and I was hoping to see if there are any pitfalls that I could avoid before getting started. Any suggestions would be helpful. thank you in advance
I would strongly suggest reading PayPal's "fine" print, especially the part about drawing out funds owed to you from somebody's account. Also Paypal does have a tool-free number, you have to be careful as I understand it that there are scammers who use a fake number to get information from you.
Also, in addition to Exiled's advice, I might add that eBay offers online courses for new sellers. Further, I'd become familiar with eBay's sellers' rules and guidelines. Pitfalls to avoid: Listing a coin with too high a start price; start it low and let it bid up to its market value. Accurate and honest descriptions: I would rather read three long paragraphs describing a coin, warts and all rather than read a one-liner stating, "Nice coin, you judge it from the photo.". Realistic shipping costs: I can mail a slabbed Morgan wrapped in a Safe-T-Mailer™ and padded bubble envelope with First Class postage for about $1.50, insurance and Delivery Confirmation (tracking) extra. GOOD QUALITY images of both obverse and reverse. Fuzzy pics don't attract my interest nor money. There's a lot more I could state, but I am being reminded I have a social obligation in a few minutes, so gotta git.
Morgan Fred is right...close, clear pics are key and I always state, "Since grading is a matter of opinion, please take a look at the close-up pictures and YOU determine your own grade." Also, I never state VF25 or MS62. I like to state VF or BU or AU. That keeps your own grading on the conservative side. Gallery Pictures have helped me sell for higher prices. They are worth the $.25. They attract more bidders. Here's what I do to protect myself when I ship: I ship all of my coins with USPS delivery confirmation. It costs an additional $.55, but it has saved my butt a couple of times because I can go right to their web site and see exactly when it was delivered. For instance, I charge $2.50 to ship a coin in a new 2x2, in a bubble wrapped envelope, with USPS First class mail and delievery confirmation. The $2.50 covers my time (well, not really), the padded envelope, and confirmation. If a person wins multiple auctions, I charge only $.50 additional per 2x2 coin, as long as they ship as one. I also state, insurance is recommended but optional, but I make it very clear that I am not responsible for lost packages. This is where the delievery confirmation comes to play. Insurance for the first $50 is $1.30 additional. For slabbed coins, I charge $4.00 that covers all of the above plus additional packing to protect both the slab and coin. Afterwards, I email the winning buyer with their tracking number and this makes buyers happy.
