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Fellow Sellers/Dealers....why be 2-3x over market ?
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<p>[QUOTE="stldanceartist, post: 8151900, member: 13307"]I think I would agree with some of the comments thus far about "fishing" for a sucker - but without knowing the exact items in question, I feel like there's at least room for someone to question "how far off are they really?"</p><p><br /></p><p>In other words, pricing collectibles is as much an art as it is a science. Every coin is different - although yes, I will also agree that there will be coins like say, PF69 clad State Quarters where one might not differ much from thousands of other similarly graded examples. But there could be a number of situations where a particular coin might need a closer look when comparing to similar items:</p><p><br /></p><p>What if the owner considers the coin undergraded, or if the owner considers the color a plus when trying to accurately gauge the correct market value? What about unattributed die varieties? What if, like a situation I've encountered quite a few times, the coin doesn't have any comparable sold listings to compare to when the seller initially lists the item - but then sometime down the road, other similar items do end up creating a solid list of comps...but the seller doesn't have the time to constantly keep researching every item in their inventory? I think many people significantly underestimate the amount of time/energy it takes to maintain an online inventory - on just ONE site, much less multiple sites.</p><p><br /></p><p>I've frequently encountered items where I had to completely formulate a "guesstimate" price for something I want to sell, from an 1800's Norwegian copper coin that I just kind of made up a number I thought was fair based on what little info I could find (it sold within two minutes of listing on eBay, so I probably underpriced it) to die varieties like the MS67 1942 Walking Liberty Half DDR I found - at the time I found it, there weren't any comps. </p><p><br /></p><p>You can ask around, but most coin shops I've been to are much more comfortable giving you buy/sell spreads on junk 90% than registry quality die varieties or world copper coins. I've asked people here for advice on what items are worth, and most of the replies are in the vein of "what someone will give you for it" which is just so, so helpful...</p><p><br /></p><p>So, as a seller, I do my best to come up with a price that I think is accurate and reasonable. Sometimes I'm wrong. If a buyer is interested in something I have, and makes a good case for why they should get that coin at the price they want, I'll always listen. If it doesn't sell for a while, I lower my price - but try to keep in mind that it's entirely possible that no one has seen that item available for sale, and my price was a good price. That's also a factor to consider.</p><p><br /></p><p>One final thing - sometimes people are just dumb, and will never listen to a reasonable offer. I remember asking about some common silver Ikes (blue packs) at a flea market, and the owner quoted me a price about 4x what any coin shop would sell them to me for. Since he was so far off, I had to ask why - he said because he'd bought them when silver was $50/oz, so he needed to get that price to get his money back. Of course, the only way he's gonna sell those at that price is if he finds someone who knows nothing about coins, and those people do exist. But outside of that specific situation, he's gonna keep those coins for a long, long time. </p><p><br /></p><p>And since his price makes sense to him, he's not gonna change it.</p><p><br /></p><p>Just my humble two cents, hope it helps.[/QUOTE]</p><p><br /></p>
[QUOTE="stldanceartist, post: 8151900, member: 13307"]I think I would agree with some of the comments thus far about "fishing" for a sucker - but without knowing the exact items in question, I feel like there's at least room for someone to question "how far off are they really?" In other words, pricing collectibles is as much an art as it is a science. Every coin is different - although yes, I will also agree that there will be coins like say, PF69 clad State Quarters where one might not differ much from thousands of other similarly graded examples. But there could be a number of situations where a particular coin might need a closer look when comparing to similar items: What if the owner considers the coin undergraded, or if the owner considers the color a plus when trying to accurately gauge the correct market value? What about unattributed die varieties? What if, like a situation I've encountered quite a few times, the coin doesn't have any comparable sold listings to compare to when the seller initially lists the item - but then sometime down the road, other similar items do end up creating a solid list of comps...but the seller doesn't have the time to constantly keep researching every item in their inventory? I think many people significantly underestimate the amount of time/energy it takes to maintain an online inventory - on just ONE site, much less multiple sites. I've frequently encountered items where I had to completely formulate a "guesstimate" price for something I want to sell, from an 1800's Norwegian copper coin that I just kind of made up a number I thought was fair based on what little info I could find (it sold within two minutes of listing on eBay, so I probably underpriced it) to die varieties like the MS67 1942 Walking Liberty Half DDR I found - at the time I found it, there weren't any comps. You can ask around, but most coin shops I've been to are much more comfortable giving you buy/sell spreads on junk 90% than registry quality die varieties or world copper coins. I've asked people here for advice on what items are worth, and most of the replies are in the vein of "what someone will give you for it" which is just so, so helpful... So, as a seller, I do my best to come up with a price that I think is accurate and reasonable. Sometimes I'm wrong. If a buyer is interested in something I have, and makes a good case for why they should get that coin at the price they want, I'll always listen. If it doesn't sell for a while, I lower my price - but try to keep in mind that it's entirely possible that no one has seen that item available for sale, and my price was a good price. That's also a factor to consider. One final thing - sometimes people are just dumb, and will never listen to a reasonable offer. I remember asking about some common silver Ikes (blue packs) at a flea market, and the owner quoted me a price about 4x what any coin shop would sell them to me for. Since he was so far off, I had to ask why - he said because he'd bought them when silver was $50/oz, so he needed to get that price to get his money back. Of course, the only way he's gonna sell those at that price is if he finds someone who knows nothing about coins, and those people do exist. But outside of that specific situation, he's gonna keep those coins for a long, long time. And since his price makes sense to him, he's not gonna change it. Just my humble two cents, hope it helps.[/QUOTE]
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Fellow Sellers/Dealers....why be 2-3x over market ?
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