Ever thought about selling bullion on ebay?

Think again. Yesterday I sold a roll of ASE's to help cover the cost of some silver loafs I picked up Friday.

Sale price 775.00

Ebay Fees - 69.75
Shipping - $11.88
PayPal fee - 23.85

Total - $669.00

Yesterdays spot price - 690.00

21 dollar loss. Would have been better off selling at local shops.

Who feels stupid? I DO!!!!!

 

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You got $21 under spot. Does your B&M pay much more than that?

 

21 isint that bad, for that big of a sale

 

The guys I visit here all pay spot price. God I feel dumb..

 

I understand your point since I have worked out the math luckily before selling on ebay but I dont think you local shops would pay higher than 21 under spot.

 

One of my favorite tools for selling on Feebay.

http://www.newlifeauctions.com/calc.html

 

Well, as a fellow sucker for ebay's glitz and glitter I feel your (financial) pain. After getting a decent price for a $20 Saint, I got whacked by ebay's 9% seller fees, etc., etc..

For bullion I would go with the top buyers like Provident and Apmex. Provident quoted me 100% even on Euro coins, Apmex was at 97% on those. Don't be bashful as you check around for top dollar!

 

Ebay and its fees have become too much. It is stacked entirely in a buyers favor. Especially with a known price market like non-collectible bullion. I used to sell books on ebay, almost 3000 feedbacks. Made a pretty good side income a few years ago.

As an aside, I let go of some junk and a few 2012 ASEs Friday evening at my LCS. The ASEs were in airtights and mint. He paid me $36 each in cash. I also sold some Peace dollars that I paid melt for and the ones in nicer condition, he paid $28 each. The roll of junk Franklins were at $22.50 face.

Decided to take some profits off the table and fund a new gun. Now if silver drops back down the gun might wait and I'll rebuy the silver.

 

What do you mean by: The roll of junk Franklins were at $22.50 face.

 

No? May I ask how many ASE rolls you've sold lately (or ever)? FYI, this is not that "big" of a sale at all, my young friend. I understand your enthusiasm, but unless this is something you have experienced first-hand, it may be best to sit back, listen, and learn.

 

Is this a big sale for ya? Or asking price?http://www.ebay.com/itm/1969-UNC-CA...0104499?pt=US_World_Coins&hash=item3a7a4f0e33

 

$22.50 for every $1 of face value coin. So a roll of Franklins is $22.50 x $10 face=$225. Just less typing to state price for a face $1 of junk silver. A face of dimes would be 10 dimes.

 

One of the very last times I sold on eBay it was a single Franklin half dollar. By the time I paid the fees and shipped the coin I made 1 cent less than the coin cost me.

 

Or this?http://www.ebay.com/itm/GUAN-YIN-HE...4959547?pt=Asian_Antiques&hash=item519a88113b

 

Ahh

 

I'm not sure what eBay LOLfollies have to do with the current discussion. I mean, I've seen an asking price of $10 million or so for a simple cent-on-d... nope, sorry, not gonna go there.

 

I think he meant the $21 that the OP missed out on wasn't all that bad considering he has $669 after fees and expenses. Also, seeing as size descriptions of money are all relative, $775 IS a big sale for some people.

But whatever your perspective is, $21 less than you could have gotten on a $50 sale would be worth kicking yourself over. $21 less on a $775 sale is worthy of taking a moment to learn from your mistakes. $21 less on a $100,000+ sale, who cares? (ASSuming profit margins are relative to the size of the sales)

$21 is 42% of $50
$21 is 2.7% of $775
$21 is .021% of $100,000

Size does matter. $775 is a large sale for him. Apparently not for you. But his point is still (relatively) valid.

 

...But I do get what the OP is saying. In the future, I will likely use FeeBay primarily for buying. The ONLY time I can see myself selling on FeeBay in the future is if I'm selling something for which the market is so obscure that I NEED FeeBay's large buyer audience to sell it. Even then, I'd be hesitant.

For everything else, there's craigslist, CoinTalk, and countless other selling resources...

 

ASEs are incredibly liquid and one can sell them for over melt on any of the coin boards as well as melt +/- some small percentage at many or most shops. Aside from the ebay haircut, what you have to worry about in these sales is the scam buyer who will attempt a chargeback. Keep that in mind next time you use ebay.

 

eBay is a very tough market to make money. I actually make a living selling MacBooks on eBay but I get them pretty cheap, and do all of the repairs and refurbishing myself. But yeah. If I sell a MacBook for $400 then I usually end up with about $40 in fees, meaning I really only get $360. By the time you take out the initial cost of the computer and my repair parts, I am usually lucky to have $50 profit left over.

I seriously considered trying to buy some wholesale silver bullion and sell it on eBay. I think I'd need to buy around $100,000 worth straight from the manufacturer in order to actually be able to bring in any profit. I could probably afford $20,000 on credit but since I'd be paying interest on it while trying to sell it, I don't think I'd make any money.

I think if you already had a large collection and you were ready to sell it off in order to start reaping the rewards of your collection, then eBay is probably fine as I doubt you'd get much more from selling to a dealer or something.