On the heels of this thread: https://www.cointalk.com/threads/pricing-exercise-how-would-you-handle-it.368360/ I present another scenario: ~Common coins with not so common color ~Pros: rainbow/colorful, top 2 TPG graded ~Cons: reverse toned, acquisition price was strong (not moon money) The coins are both very nice (in my opinion) but I've upgraded and would like to move them. Neither has drawn much attention after being listed in several venues for multiple months (few watchers). The acquisition cost for one was approximately $400 and the other $525 (this one is a higher grade). They are currently listed for cost plus fees (eBay, paypal, shipping). What would you do? And we can expand this to a general discussion of what to do with coins you are trying to sell but are having a hard time. Some possibilities: ~Keep them listed at the current prices (at cost after fees); how long do you continue to wait in this case? ~Drop the price by some amount; how much of a loss would you be comfortable taking? ~No reserve auction; is the guaranteed way to sell worth the risk? ~End the listings and put them away for some amount of time; how long? ~Something else?
I regard my coins much like my old car. Other than my silver and gold, I fully expect that the day I decide to sell, I will likely realize a loss on my initial investment. That's OK to me. I am not a dealer and have my mind fully attuned to accepting that fact.... If I were in your shoes and recouping my investment was of importance to me, I would leave them listed. Eventually somebody will find that listing that desires those coins at the price you have listed...... Over my years of collecting I have found for myself anyway, that when I dial in on a coin that I need to have a relationship with, the cost is almost secondary. Oh sure, I want a good deal like anyone. But when a coin speaks to me, all I want to know is how soon I can have it.... So keep the listing up. Somebody will see them and need to own them.
@ddddd, I don't think anyone can tell you what to do on this because we don't really know how you've weighted the priorities. From the tone and words of your post though, it sounds like you are more concerned about losing money than selling quickly (or at all). Some rhetorical questions: Are you able to determine the market value of these coins? If so, where are your coins on that spectrum? The fact that you had few looks on the several venues despite being there for a long time tells me that they were the wrong venues for these coins or that there is little market for them regardless of the venue. Which do you think has greater likelihood? Maybe you could restart by listing them at a BIN value with a Make Offer option? This doesn't risk giving them away but signals to potential buyers that there is some wiggle room. You also get a better feel for the market. I often am at auctions with Starting Bids listed. Sometimes those starting bids are ridiculously high and I often see those coins treated as orphans. Whereas, sellers willing to take a chance often benefit by allowing low starts and letting native sentiments and competitive juices take over. You have to have the stomach for the risk, though. Would you rather sell or protect your investment? I guess one final thought has to do with who you are. Are you a collector who just wants to sell some stuff or are you a business? If a business and you sell at a loss, you get to deduct the loss from your business taxes which defrays the cost of the loss. I'm not a coin dealer business and might be wrong on this so someone who is might opine.
How long are you willing to have the money tied up? At what point does it make sense to take a loss, take some money, and put it into something that will multiply it? I put a couple of my problem coins on eBay (BIN/BO), and relisted them a number of times. Eventually the right buyer/offer came along, but it took several months.
right now people may be conserving their cash ... so might not be a good time to sell such items, even for break even.
@Publius2 my replies are in blue (even to the rhetorical questions ) I don't think anyone can tell you what to do on this because we don't really know how you've weighted the priorities. From the tone and words of your post though, it sounds like you are more concerned about losing money than selling quickly (or at all). Like many, I don't want to lose money so I have taken it slowly. However, I am open to several options (including taking a loss-haven't decided how big yet). Some rhetorical questions: Are you able to determine the market value of these coins? If so, where are your coins on that spectrum? The coins are in my area of focus (silver toners). Part of the issue with toned coins is that there isn't a true guide and prices can vary dramatically based on how much someone likes the particular example. I've seen worse (in my opinion) examples sell for more but I have also seen some better examples sell in the same range. I would say the prices are closer to the top of the pricing spectrum (approximately top third). The fact that you had few looks on the several venues despite being there for a long time tells me that they were the wrong venues for these coins or that there is little market for them regardless of the venue. Which do you think has greater likelihood? The toner market certainly has many players so I wouldn't say there is little market. The venues used are various forums and eBay. Maybe you could restart by listing them at a BIN value with a Make Offer option? This doesn't risk giving them away but signals to potential buyers that there is some wiggle room. You also get a better feel for the market. That is a good idea and I might try it again. A few months ago, I saw a very similar example (same grade and very close toning pattern) to one of my coins listed on eBay for $1,400 (over double my asking price). At that point I ended the listing and upped the price but added a best offer (new price was still significantly lower than the $1,400). That didn't produce much interest so I dropped the best offer and lower the price back down to my break-even point. And yes I did contact the guy selling his for $1,400 to see if he wanted my example for much less (he did not). I often am at auctions with Starting Bids listed. Sometimes those starting bids are ridiculously high and I often see those coins treated as orphans. Whereas, sellers willing to take a chance often benefit by allowing low starts and letting native sentiments and competitive juices take over. You have to have the stomach for the risk, though. Would you rather sell or protect your investment? The auction strategy has been considered and is still being debated. I did have luck a few times several years back with items that were bid up to the same level or even higher than the buy-it-now price. Those were both ~$100 items so it was easier to stomach the risk compared to ~$500 items. I guess one final thought has to do with who you are. Are you a collector who just wants to sell some stuff or are you a business? If a business and you sell at a loss, you get to deduct the loss from your business taxes which defrays the cost of the loss. I'm not a coin dealer business and might be wrong on this so someone who is might opine. I'm a collector that sells for a few purposes: to get rid of duplicates/coins that no longer fit in my core set and to help finance the coins I do keep.
That would be my guess but I have read plenty of reports that items are selling well this year (including both on eBay and from dealer websites). With fewer shows, the online marketplace is seeing more activity. Also many people that would normally spend on vacations, parties, or eating out with friends can't or choose not to for the time being. That has freed up spending money for hobbies that can be enjoyed at home.
How bad do you need the money? Again how bad do you need the money? I would never do a no reserve eBay auction, those basically always go for cheap for sellers other than the big boys unless it's bullion. With all the games eBay plays with who can see what listings, looking at somewhere like GC would be a good idea. Toners generally do well there and it wouldn't hurt to try with your price there and see what happens. I've had many things sit and not sell on eBay only to sell for a higher price there
Most of us can use the money but I can make it without selling these two items (which is part of the reason I have stuck to my price so far). And I agree that eBay is a big risk, especially with the limited views/potential search manipulation. I have only done a handful of no reserve auctions over the years but all were much less risky (max loss in those cases would have been ~$50). GC might work but the coins came from there. That might not matter (I've seen plenty resell for more but some don't do as well the second time around).
You can always set your own price for it on GC if you wanted too as well. Unless you just bought it very recently (which I don't think you did) I wouldnt worry that it had sold there before.
