I have been buying on EBAY for many years. What strikes me as strange is one particular seller who continually lists the same coins over long periods of time. Not just a few, but a minimum of 36 per day. How I do I know this? From that first sentence. More than I should, I suppose. Anyhow, since EBAY charges listing fees each time an item is posted, at what point does those fees exceed a profit? Sure, from the very high feedback, they are selling, but I would think that "profit" barely reaches the cost of the coin in which they had to buy for resale. Factor in shipping expense, packaging and time, I simply don't see how this makes much sense. Most of the coins in question are under $25.00. While their other auctions may sell at a higher profit, this becomes reduced by the shear number of those which break even at best. My guess would be is not their full time business.
They probably pay for an eBay store. IIRC, you get some significant discounts on listing fees in exchange for the monthly store fee.
I've seen this scam before. A person sells to the same people using different handles. They give positive feedback. The coins never leave home. There is an advantage to having a high rating in cost and fraud. They appear honest to the coin community, and build more trust.
An eBay store is a fixed fee per month which allows one to list x number of fixed price items for no charge based on the store level. It’s like taking a table at the eBay coin show.
This. What gets me is mbarrcoins. He has nearly 40000 coins listed. He has it so that they get automatically relisted each month. That is 1000 relists PER DAY!!! He is among a few sellers who would make eBay searching much quicker if I could just block their listings. If they asked reasonable prices for their coins, sure, I could possibly stand it. But 2x retail? Waste of my time. And theirs too, since things sell super slowly.
eBay started out as more of a swap meet for people who had stuff they didn't need to get to people who needed stuff. Look what it has become. I don't like it anymore.
I don't share this often, because the harder it is for other people to find coins on eBay, the better the chances I'll find them first. If you follow the Advanced link beside eBay's Search button, you'll see a Sellers section: Well, that's not very useful, is it? But wait: So, if you select Exclude from that drop-down, it turns this section into a tool to ignore specific sellers! I use this heavily when I'm camping on new BIN listings and one of the regulars is re-listing hundreds of coins. It lets me spot new stuff that would otherwise be lost in the flood.
So when I see coins that are overpriced by 30-40% -- 4-figure and 5-figure coins -- is their strategy just to keep relisting and relisting until 1 wealthy moron (assuming they exist) takes the bait ? I mean, I'm looking at an MS64 1907 High Relief (albeit with CAC) and the guy wants $29,750. I'm seeing 64's go begging for $18,500 on GC (tack on 20% for CAC, figure). How does overpriced stuff get sold ? I get a $12 piece selling for $20 -- in absolute terms, it's $8. But when you are talking paying hundreds or thousands extra........
That's actually a very fair price for a CAC MS 64 with either edge. That what they routinely sell for and it's actually an even better price considering you don't have to pay a buyers fee/shipping which you would at an auction house and will get $100 eBay bucks back which again wouldn't get at an auction house. Also no CC fee. One thing I would strongly suggest is stop assuming what you think the CAC premium should be and look it up and stop listening to the people who say it shouldn't/doesn't matter and/or they know better/are just as good, especially if you are looking at coins like that
Still seems high, if I strip out the CAC and go apples-to-apples, I still see prices higher than those getting bids on HA or GC by about 30% on average. But you are right, I didn't realize that a CAC on a 64 would jump the price that much. But it's STILL high given falling prices...and without CAC, the ones I see are still high. I have no problem with the CAC premium, BB21, though it seems here it's closer to 50%. On lower-priced Saints, I usually see it closer to 20-25%.
I meant comparing MS64 1907 HRs. Asking prices on Ebay compared to asking or actual sales prices on GC and HA are ridiculous.
Does he have that many and at ridiculous prices only ? I think I bought something from him last year for < $100. I paid a bit over FMV but not 2x.
Not really from a quick check two have a + and two have a CAC and they all appear to be the wire edge from what eBay is showing me for 64s that you had mentioned. Again with eBay there's no extra fees and the 6 it showed me for MS 64 wired edge are all reasonable within normal ranges. Am I saying to run out and buy them all no, but understanding pricing is very important especially with coins like that and when you get to true 5 figure coins most of the sellers on ebay selling those are the same ones you'd buy from and applaud at a national coin show. It's not like any are raw at least that they showed me
I buy from him quite often - I dont go to his store just his 99c start auctions. Picked off a few good morgan vams from him (Not on holder) for under 50 sold for 200. Also listing fees sometime do not list for certain sellers like myself that are at 5 5 5 5 stars just final value fees. His is probably discounted further for having a store and a Power seller .. he is making money and it looks like its all on automatic now so … to each its own
