One weird trick to save money buying coins on eBay

Discussion in 'Coin Chat' started by Paul M., Mar 17, 2015.

  1. Paul M.

    Paul M. Well-Known Member

    (Sorry, I just had to. And this is one case where it really kind of is "one weird trick" :) .)

    As you should know, sellers pay significant amounts of fees to eBay when they sell a coin there. Suppose you could get the seller to sell you the coin outside of eBay. Then, they wouldn't have to pay most of those fees and could pass along the savings to you!

    Well, eBay is wise to that, of course, and they have rules against contacting people through their messaging system and persuading them to conduct transactions outside of the venue they've provided.

    So, here's the trick: don't use eBay's messaging system.

    This actually works better when you're dealing with people who are real coin dealers that have web sites, rather than random people. One clue that you're dealing with a "real" dealer is that they have the PNG icon next to their username.

    Often, a user's eBay store provides enough information that you can google and find their web site. If not, try googling parts of the item description. In my experience, it's common to see the same coins listed on a dealer's web site and on their eBay store, but the eBay listing will be 10-15% more money because of the aforementioned fees.

    The other way to get coins at less than eBay prices is to get them before they hit eBay. :) That, of course, is where sites like this one come in handy.
     
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  3. imrich

    imrich Supporter! Supporter

    I've tried what you propose, but generally found that dealers still want to receive their gross price listed on eBay. They may counter with a small discount, but the majority will not discount their prices.

    I make offers, virtually daily, and I'd guess that less than 10% want to deal directly with the general public. My offers are normally a specific fair market value cash price, usually within 5% of their listing price.

    A recent instance, last Sunday a "better date" MS65 PCGS St. Gaudens was listed on eBay at a "fair market" price, due to end within 1 hour, without a bid, with a "Make Offer" condition. I made a 95% offer, automatically rejected. I don't normally insult/irritate dealers with a secondary offer, but "Make Offer" condition suggested some possible discount. 97% offer was accepted. The dealer is well B&M established. Many missed a great opportunity because his images weren't properly focused.

    Dealers generally appreciate the anonymity, benefits, and the vast public platform provided by eBay. Most dont want to jeopardize their business with eBay, to "deal" with the indecisive "tire-kicking" public, possibly realizing an outcome similar to Hannes Tulving.

    JMHO
     
    Last edited: Mar 17, 2015
    green18 and Tinpot like this.
  4. stldanceartist

    stldanceartist Minister of Silly Walks

    I am usually more than happy to sell an item outside of eBay through my website. I've noticed that eBay doesn't audit the photo a seller can use for their storefront...so a business card can easily be scanned there with appropriate contact information.
     
  5. messydesk

    messydesk Well-Known Member

    There are dealers that list on Collector's Corner and eBay simultaneously, and ask for less on CC.
     
  6. littlehugger

    littlehugger Active Member

    I picked up some Jefferson proofs off of Ebay, and they arrived with a flyer advertising his website, stating that if I became a registered member, I could buy directly from the website at a 6% discount.
    Not amazing, but I'll take it.
     
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  7. Dougmeister

    Dougmeister Well-Known Member

    @littlehugger, I just did the same thing. Probably the same dealer! Bought some Lincoln proofs from his eBay store then bought some Jeff proofs from him directly as a result of his flier.

    I hope eBay isn't reading this.
     
  8. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    Be mindful if you do this that you lose the eBay buyer protection, but you may still be protected through PayPal if you meet their requirements. Also, while there are many honest dealers out there, there are also many dishonest ones. Don't let your guard down just because you're buying from a dealer. If there are red flags, proceed with caution (if at all).
     
    jaceravone, tommyc03 and Paul M. like this.
  9. littlehugger

    littlehugger Active Member

    Doug, well, even if Ebay is reading it, I don't think the guy is doing anything wrong. I have seen lots of Ebay auctions that stated it was being advertised locally also, and might be sold that way before the Ebay auction ended.
     
  10. littlehugger

    littlehugger Active Member

    Jaelus, this guy is a pretty big dealer, and he did fix a couple small items with no fuss at all. But yeah, your warning is well heeded.
     
  11. Paul M.

    Paul M. Well-Known Member

    All very true, hence why it's somewhat lucky that this works better with PNG members (who are business people that actually sell coins for a living and subscribe to a code of ethics) than Joe Random selling off his HSN-acquired presidential dollars. :)

    What you said you did isn't what I suggested at all. You used the "Make Offer" facility of eBay. They still take their cut if you settle a transaction that way.

    What I'm talking about is literally just buying the coin independently of eBay -- no negotiation needed. I see a lot of coins listed for a BIN price of X on eBay and listed for 0.9X off of eBay, on the web sites of professional and reputable dealers, where 0.9X - 1.0X would be a perfectly acceptable market range. But, I'd rather pay 0.9X if I can, and if I can do it without negotiating, all the better! :)
     
  12. imrich

    imrich Supporter! Supporter

    Duh!!

    You are correct, my example was an open auction with "Make Offer" option.

    Normally, as you've stated, as currently aside me, I have a closed auction listing of a coin that didn't realize the initial reasonable bid, where I've done an internet search to locate their B&M store to offer a lesser price. I regularly use eBay messaging to include a discounted offer including my direct address as richfosATlocalnetDOTcom. This normally results in a declined or counter-offer, change to "Buy It Now" when no previous offers, or direct discounted sale.

    Thanks for the correction.
     
  13. charlie123

    charlie123 Well-Known Member

    Has anyone heard of Ebayers being kicked off Ebay, for contacting sellers to sell listed items outside of Ebay?
     
  14. tommyc03

    tommyc03 Senior Member

    Absolutely. Ebay uses a special algorithm that detects key words such as @ or .com in an email address, to name a few. You might get away with a first time warning but it's not really wise to push your luck.
     
  15. littlehugger

    littlehugger Active Member

    "Sorry, I just had to. And this is one case where it really kind of is "one weird trick" :) .)"
    Is that the same "one weird trick" to save on insurance? To make all girls fall for you? To lose weight? To win the Lotto? Even to make your manhood big as a tree?
    I wish I knew that trick!
     
  16. micbraun

    micbraun coindiccted

    I collect US coins but live in Europe. eBay/GSP deals with shipping, insurance & customs. PayPal is my friend if there are any issues. Your trick is not helping at all in this scenario.
     
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