Prices ever go up while you are viewing an item?
Zoins
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I wanted to buy a BIN coin on eBay a while back and looked at a few times and then it disappeared off my radar. I was using a max price filter and only later did I see it was listed at a much higher price, like 4x.
Do dealers track watch counts and increase prices when they see viewers?
How important is it to limit how many times you view an item before buying it?
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I have noticed that too. Apparently the answers are yes and very.
If I am getting a lot of views & watchers I will lower the price a bit to see if it turns a watcher into a buyer.
This is a similar thing that happened to me. Last summer there was an item I was interested in with a BIN of around $275. The banner on the page said the seller was away and would be back in 3 weeks. I sent him a message (hoping he was checking his messages) that I was interested and that if it was still available when he got back to shoot me a message and I'd buy it. Three weeks later he notified me that he was back home and the item was still available. I immediately went to buy it. Only now the price was $875. I passed.
Is it still available?
The piece I was looking at is still available.
I wonder when prices go up that much, if they are still sellable.
Seems like a brilliant marketing strategy only from an eBay genius.
I remember when I would go to the sports book in Tijuana and on the big board a team would be a 7 point favorite. When I would place my bey the line would mysteriously change to 7 1/2.
It remained for sale for a few months. I don't remember how long exactly. I stopped watching it after a while. It's not listed now. I don't really know if it sold or not. It was a 1933 Pedley-Ryan Dollar HK-825. It was graded MS64. They're tough to find above MS62. I eventually found a very acceptable MS62 for under $200 that I'm very happy with.
What if your funds decline while you're dithering?
That's happened recently with the coronavirus!
Not that I can remember.
If I have a lot of interest, I throw a 5-10% discount to make the sale. I doubt many people raise the price. It's counter-intuitive. If it was so vastly underpriced, it would have been an instant sale.
I think it is eBay genius to do this as I have watched several items that I collect do this. It just happened the other day to a medal that I was watching, (1840's) EAGLE ON SHIELD w/ 6 STARS - 2 1/2 / RAYS & WREATH was priced at a BIN for $220 and once it didn't sell, I went to see if it maybe went down in price but no, it went up to $350 dollars.
I have watched some items at a BIN price and after a couple of times, on say 7 day auctions, the seller ups the price and then it sells. I guess the buyers think they better get it then before the seller ups the price again. I have watched this happen quite a few times to items that I had on my watch list.
That is why I think it is eBay genius, make the buyer watch it at a lower price, think that the seller will lower the price after it doesn't sell after being on auction a couple of times but then the next time the seller ups the price and now buyer thinks they better get it before the price goes up again.
Dealers may raise and lower prices all the time depending on market conditions, cash flow needs. If a large item retails at considerable profit they may raise the price on something they were willing to go lower on previously. This is called “prices subject to change due to current market conditions.”
If you don’t want raise and lower prices just make the item bin / mo. Dealer A had an item CPG 525 his cost 300. It is priced at 535 bin / mo w free shipx. His auto reject is at 450 about 10 pct over bid on it. It sold for an offer of 495 recently.
There was a set of books on the darkside that was a good deal. A few of us jumped on them and the price doubled! This was a dealer website...not ebay.
I've heard some say it works for them. Whenever I've tried this tactic, it does not work. But just for the fun of it, I'm trying it again right now with an item (this thread inspired me
).
What bugs me is when price goes up equal to the amount of ebay bucks being offered at the time.
Collector, occasional seller
eBay sends me notices to lower the price when clients are watching an item.
Well, that ain't gunna happen as it is a desirable item, in fact, I am tempted to RAISE the price.
I never lower my BIN price. More often than not, I will raise the price on a BIN item.
Buy it now before I raise the price.
Haha. Okay, I guess the cat's out of the bag now!
The coin I was looking at was an EOC coin!
Since the price went up out of my target range, I thought the coin was pulled. Only months later did I see it with the higher price!
You have some amazing coins @ErrorsOnCoins !
Here's the coin. I think it's gorgeous. Actually, it probably went up to just 3x.
I was also following this EOC coin which recently sold for a sweet $2,499.97.
I haven’t seen it happen before but if it did I wouldn’t buy it.
TurtleCat Gold Dollars
Zions, those are two super cool coins.
The 1939 was insane and way, way underpriced when I bought it. I priced it too low and it sold.
The struck in copper Jefferson I bought raw and sent it to NGC for the lofty grade it received.
I price my coins in order to keep my business running and supply my clients with the best of the best in my price range.
I don't have a problem with the practice and I think you run a great business. Actually, I think you run a modern coin shop and this type of pricing is like Uber's "surge pricing"
I was just wondering how common it was and what we have to be aware of as buyers. I was surprised to see the coin after I thought it was pulled for so long. It's another thing to think of if a coin disappears off your radar.
As for price increases, I have bought coins that are flipped by dealers, sometimes with a 100% markup, so why not let the original dealer get the profit?