Discussion in 'Bullion Investing' started by CHARLES GINETTO, Mar 24, 2020.
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Are you listing Buy It Now, or as auctions?
It sounds like you're saying that your auctions are getting lower bids than you like, so you want to raise the shipping price after the auction closes to get the money you want. That's... not how auctions work.
Set a BIN price for the listing or start the auction at the minimum you will take with "free shipping"
I checked it about an hour ago.
I don't do auctions.
It is 1644.40/oz right now.
Buy it now.
What's your source?
My source is apparently having problems. Here's what goldprice.org is showing me this morning:
Here's what Kitco is showing:
So, it looks like you may have been right about the price, at least for a little bit. But, as you see, some of us hadn't yet gotten the memo.
If you want to react to spikes like that, the only thing you can do is adjust your BIN price. I mean, you could monkey with shipping costs, but that's just likely to put off potential customers.
Nearly 5% spikes across a period of hours? This is reminding me of 2011. Wish I'd bought a bit less then, and a bit more later...
I'd be very nervous about starting a fixed-price listing in this environment. I'd be even more nervous about placing a binding auction bid.
The gold spot price according to Monex Precious Metals is fluctuating wildly. I will just keep raising my fixed prices and stay away from auctions altogether.
Gold today has traded between $1,556.50 and $1,689.80. With gold at say $1,600.00, the gold content of a $20.00 St. Gauden is .9675 ounce/coin x $1,600.00/ounce of gold = $1,548.00.
If I can buy a slabbed MS-64 St. Gaudens for a 5% to 8% premium, I feel like I am getting a really good deal, but I rarely find that. Of course I haven't been looking recently - I did a lot of buying when gold was between $1,250.00 and $1,400.00.
Send me a link to one of your coins for sale and I'll let you know what I think.
and prices shown on places that sell PM coins tend to vary ... more on the upside to those places selling the metals.
So .. seller and buyer beware
If not, please consider keeping it as a nest egg.
Add a premium to your gold.
Shipping fee gouging seems to be the norm in these difficult times. Amazon appears to not be offering shipping options. More money in Bezos pockets.
I would not raise your shipping charges.
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