GC auction listing question

lusterlover

I know I could get the answer directly from Ian, but wanted to make the question public so everyone can comment. I followed a coin back in June that didn't sell (a toned coin with starting bid at 4x price guide). Since it was on my watchlist, it has showed up 2x per month unsold at the same price since. I know one of the benefits to GC is you only pay a listing fee once, but doesn't it look bad to relist the same coin at the same unsold price for 6 months straight? I welcome comments.

Walkerfan

I don't think so, as it only happens occasionally, and MOST coins on GC sell well.

I like that GC accommodates the seller BUT the seller should realize that items DO get 'market stale', if listed too long, and the seller should adjust the price, accordingly, which they often do.

Coinstartled

Check Ebay...stuff gets relisted there for years.

jmlanzaf

@Coinstartled said:
Check Ebay...stuff gets relisted there for years.

GC reminds me a lot of ebay sometimes. There's a lot of listings with ridiculous reserves that keep reappearing. I watched a Mexican platinum piece for months. I think look it's still there

davewesen

@lusterlover said:
I know I could get the answer directly from Ian, but wanted to make the question public so everyone can comment. I followed a coin back in June that didn't sell (a toned coin with starting bid at 4x price guide). Since it was on my watchlist, it has showed up 2x per month unsold at the same price since. I know one of the benefits to GC is you only pay a listing fee once, but doesn't it look bad to relist the same coin at the same unsold price for 6 months straight? I welcome comments.

they only relist for free 3 times

Coinstartled

@jmlanzaf said:

@Coinstartled said:
Check Ebay...stuff gets relisted there for years.

GC reminds me a lot of ebay sometimes. There's a lot of listings with ridiculous reserves that keep reappearing. I watched a Mexican platinum piece for months. I think look it's still there

I filter my search to coins with at least one bid. Saves a lot of time.

winesteven

The same question can be asked of coin dealers, who list a coin at a particular price, and keep it at that same price for VERY long periods of time - on their website and on CollectorsCorner.com. It’s just a business decision.

ianrussell

It's a constant project to ensure that all listings have sensible minimum bids. We do our best to avoid consignments where the minimums are too high - and every day we return coins that have too high minimum bids.

But there's a few exceptions:

1. There are some coins (and paper money) where values are difficult to estimate, since they trade in a very wide range. Some are toned (where price guide values are less relevant). Some just don't appear on the market very often. Remember, there are coins that are overpriced at 20% of guide values, and those that are a bargain at 10x guide values.

2. Some coins are PQ, the consignors know they are PQ and they want a PQ price. There's one consignor like this who is a regular poster on this forum. I gladly auction his coins, since they are always superb. His coins regularly sell for 3-4 times Price Guide value. Some will say his prices are too high...they are if you don't take into account the quality of his coins.

3. There are sometimes situations where I agree with consignors on 95% of their consignments, but there might be a few coins that I think are a little over what I would normally offer at. They are still below retail prices, but perhaps not instantly liquid at those numbers.

That being said, most of the coins in our auctions are unreserved (means min bid = $1) - it's something that has steadily increased since launching in 2011.

Regards,

• Ian