The other side of E-Bay
jkrk
Posts: 967 ✭✭✭✭✭
Everyone on this site knows about the costs of selling on auction sites. In addition, everyone knows the margins when trying to sell generic $20 gold pieces. I'm not complaining since the margin is what it is.
I am fascinated by the number of potential buyers who continuously write to express their interest in some of our coins but they need a better price. That's fine and I sometimes ask for a concession when buying.
I fully understand their view and usually respond that My costs are too high to lower my offers. *In the past, When E-Bay offered me concessions I lowered the price of my coins. Now I calmly explain, that after discounting the coin, paying E-Bay/paypal/shipping registered I will net less than selling the coin to my LCS (very often that;s true.
I guess, if you need to make the sale and don't live in a large urban area perhaps E-Bay can be a quick out?
I wonder how many potential buyers really understand that I'm only looking to net $50/$60 over selling it locally. sometimes I wonder if I am dealing with smaller dealers who believe they can flip the coins at shows if the price is right?? Maybe all of the above?
I wonder if buyers understand that If the coins don't sell, then keeping them is a satisfactory alternative?
We've never had a store before so the PM exchange is new and interesting to me.
Comments
It’s a numbers game for people looking for a steal. If they ask 100 times and one person accepts they’re happy.
Don’t take it personal just say sorry you can’t accept their offer and move on with your life.
It's not that I take it personally. But it is a waste of my time to have to respond to lowball offers. And if I don't respond to lowball offers, the would-be buyers think I'm rude.
People don't understand the margins and, frankly, don't care. Nor should they, really. I mean, they want to pay what they want to pay.
That said, I am sometimes frustrated with lowball offers. And I will block people who I think are wasting my time.
Even worse, people will do two things that really annoy me:
1. Offer to buy a coin that is in an auction if it doesn't sell. I tell them the BIN price will be higher. They say, why? I say, because otherwise I'm telling you not to bid in the auction.
2. Ask me to end an auction early at the opening bid or EVEN LOWER!! I started bidding at $20, why would I ever end the auction early to sell it to you at $15?
Bottom line, and it's human nature: everyone wants the dealer to BUY their collection at 90% of full retail at the same time that the don't want to pay more than 80% of retail to acquire it! That's a great deal if you can get it, but a negative 10% margin will not allow the dealer to eat.
But please, just be consistent. Don't call me a crook if I offer you 80% of retail when you won't pay 100% of retail to acquire.
It's frustrating sometimes, but there's not much you can do. I used to explain the reason for not accepting an offer but it never resulted in a purchase so now, I just decline the offer and move on.
You care too much what others think about you. If you're going to low ball me on one item, we're probably not doing business anyway so why not just ignore them?
I actually work with the oddball offers, etc.
Couple reasons:
My stuff, in some cases, is high margin, and no published price guides, etc. so if it has been sitting a few months, I might be more eager to let it go. Even at 50%, I still make a bunch, even after the fees.
The main reason is to utilize the FREE EBAY BUYER SCREENING process. It used to be, you could block low feedback bidders, but since you cannot neg a buyer, all buyer accounts are +, so no deal.
But it allows me to look up the offerer, go to feedback, look at feedback they leave for others, and decide if this is someone I want to do business with. I recently had an offer from a person who ONLY left negative feedback. He has been on ebay for 15+ years and has a net feedback around 40. Doesn't buy much, but apparently is always unhappy. Quick block, and moved on. The MAKE OFFER is often bait for those who, well, just live in a different world, and this allows me to block them.
I also screen for evidence of being a Veteran, and they get special allowance on make offer.
It's the same in a lot of business, there was a time I had a thriving computer business, lost it to a Circuit City that opened nearby.
The worst people are the ones that call you friend and ask for a discount, a friend should be the last one to ask. (Unless you have lots of money that does not need to go back into capital or pay bills)
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
I have six or seven prepared neutral answers ready to cut and paste that cover 95% of the questions and/or offers that I receive on eBay. They are efficient, thought out calmly in advance & keep you away from heat of the moment answers or unneeded extended conversations. This method works well if you know how you want to run you business and are consistent in its application.
Life is a big scramble and jumble, especially should you hope to come out ahead financially... if you do eBay, it is a game like soccer or rugby... expect to get scruffied up, dammit!
As I mentioned on another thread, I once had someone leave me a negative for "being rude" on a coin they didn't buy. They had bought one, inquired on another, felt my response on the 2nd coin was "rude" and so they left me a negative on the first coin.
It's not that I care whether they like me or not. But if you're running a business, you can't really afford to piss off too many people.
I'd also point out that right on this board we've had eBay sellers blocked by multiple people because of complaints from a single person.
I don’t think buyers care what YOU paid.
It's all about supply and demand. Buyers don't care about you NETTING $50/$60 over on a DE when they can buy a comparable coin elsewhere for $150/$200 less than what you are asking. I'll make you a offer, if you don't accept no problem, I will move on to someone who will.
The whole worlds off its rocker, buy Gold™.
SOMETIMES that's the case. Other times, the buyers are hoping to find someone who doesn't know coins to rip them off. There are people who run around offering under melt on everything so they can just flip it. Other times, the buyers are trying to buy sub wholesale to flip it.
I list most of my slabs AT GREYSHEET BID. I defy you to find anyone asking less than that on most of them, yet I frequently get people offering 30% less. It's not because they can find it at that price somewhere else, it's because they are hoping to "score".
That said, I don't know why anyone would be selling DEs on eBay unless they are Apmex and get the preferred rate. Bid/ask spread is so low, you would do better to just sell your DEs to Apmex or a local buyer.
To be fair, why would anyone pay you $200 over so you can net $50 over when they can buy it for $50 over locally themselves?
I have tried that 'Best Offer' a couple of times. I've had four successful transactions but I have had two of those 'no response' deals. I don't press the seller; I just delete the item and move on.
I simply tell them one of my canned auto bot type answers: “unless it’s BIN / make offer it’s already at our best price.” If I have enough room want move item will make them a counter offer separates ones for real from those just fishing.
Coins like generic $20 DE which trade at narrow margin I mainly do at shows. Otherwise having done the math I know what I need from the Bay.
Perhaps my definition of generic isn't proper? We have sold some that aren't quite generic.
I'm trying to sell coins that are slightly better than generic but do not have a great premium attached.
Shows would be the ideal way to go but.... the effort is too great for me.
If I like the coin/item, and the price is reasonable, I just pay.....If the price is high, (and I do know the value of what I am shopping for), I will ask once, nicely.....If no response, or negative...I just move on. Cheers, RickO
When I like a coin online that I believe to be priced slightly on the high side I inform the seller the max I would pay. If he's interested I hear back from him/her.
If, in my opinion, the price is way out of line I simply move on.