Thoughts on Coin World MarketPlace?

BJandTundra

Maybe I am not looking in the correct thread, but had not seen any comments on the new Coin World initiative. Is it going to be good, bad or, indifferent to online coin sales? Hopefully, not just another E-Bay. Just curious.

Cougar1978

I wonder what cost sell there would be.

ricko

Another buy/sell venue could be good for buyers... Competition.... Cheers, RickO

cladking

If they kept it simple I might use it.

Nothing is ever simple any longer.

QCCoinGuy

Coin World hosted a market research type of event at the ANA. They asked those in attendance what they thought about the magazine, what they would like to see more of, less of, etc. They also introduced this new marketplace, which they believed would have a significant impact on the way coins are bought and sold. I didn't buy it. It competes directly with a number of already well-established online marketplaces. They have some way of integrated prices realized into their pricing trends, which is nifty. Fees seemed competitive with eBay. Other than that there wasn't much that stood out. I hope it works for them.

wooglout

If they can: 1) strike a better balance between Buyer vs. Seller in disputes 2) make escrow-style payment "quick" re: returns/de-facto on-approval sales 3)undercut eBays fees, they should do well.

I think the bigger issue will be getting the word out that CoinWorld has a viable option and that it's worth it to at least try to sell your coins on there. Perhaps entice sellers with 1-month free listing and greatly reduced FVFs.

I welcome it as any competition for eBay is great for sellers. Buyers should love being able to purchase regardless of location as long as protection is there. CoinWorld/Amos might want to angle toward the younger generation also -- grab some of the share of coins sold via Instagram, Reddit, Facebook, etc

Catbert

They'd be better off negotiating for a marketing royalty with an existing operation. Win/win for both parties - they get publication exposure without the cost of entering a business they know nothing about and the existing operation gets visibility and new customers.

EagleEye

I had dinner with Rick Amos in Baltimore and gave him my thoughts about the project. About 10 years ago, I tried to make a marketplace and in the process found out some of the pitfalls out there in starting a venture like this. You need a critical mass of buyers and sellers for it to be valuable to the hobby.

They are regulating both buyers and sellers and holding the funds of the sale in escrow until both are happy. I see this as a game changer for bullion, as their fee system for bullion is based on the spread between spot and the asking price. They eliminate the arbitrage possible on ebay when the spot price falls during the transaction too.

On regular numismatic sales they are taking a final value fee and ensuring a fair postage arrangement.

I think they have a great plan and will alter anything that gets in the way of making sellers and buyers happy. I'm signing up right away.

Unknown

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