Re-opening my Ebay store to sell coins. Advice/Opinions needed
Modwriter
Posts: 330 ✭✭✭
I'm going to re-open my Ebay store and sell off some of my excess inventory of graded coins. I have sold other products through the years on Ebay,but not coins. I have a good rating. How are sales going right now? Any selling advice or opinions are welcome! Thanks in advance. -M-
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eBay sales (coins and otherwise) have been quite strong since the onset of the pandemic, both for me and for others, from what I've read. My advice is: provide excellent photos and descriptions, price your coins sensibly, and offer a return policy.
1 cent everything and dont give them an inch on shipping.
I mean, you don't have to put any effort into selling them at all. Just ship them on time. The market will do the hard work for you.
I've been keeping my listings 4-6 sentences as a single paragraph so it displays the entire description in the app. Effectively turns that few sentence blurb into a bold and underlined page that takes up half their phone screen for free.
List 1 item in as many categories. A Lincoln cent, Jeff nickel, silver round, Canadian, whatever. List them for way too much. If someone pays way too much great. If not, oh well, because hitting that many categories gets millions more eyes on your stuff. Or I guess I should say keep something listed in each category in perpetuity, however you wanna do it.
Anything over 750 needs a signature or else PayPal will let the grievance fly right through. Way too easy to get ripped. Vet your buyers. Trust your gut
Ebay sales for me have been great.
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I was going to check your eBay listings but I've reconsidered.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I really can't tell whether he was offering real advice or joking.
I mean, his advice included "1 cent everything" AND "list them for way too much".
I would say ... make sure you get the shipping right.
Best of luck with your store... Seems like a good time for it with shops closed and now shows. Cheers, RickO
Online store which has always done well vs shows showing stronger results with demise of shows. Bullion and better date material doing great.
When shows come back considering saving fee / expenses of doing them and walk floor divert that money into inventory just do online store.
You need to figure your bay selling expense (eBay fees, shipx, PayPal) as pct of sales Plus non bay fixed costs In developing plan markup factor (which includes your commission). I really never know what’s going to sell tough predict but more items better chances like spread offense (4 WR).
eBay is the worlds largest show....
Thanks Cougar1978. Your spread offense comment got my attention! I love talking football also. I had a football website 1994-2015. My Top College Quarterback page was very popular back in the day. One of the original mock draft pages also.
The “can I shill bid my own auctions?” thread is right below the “I’m restarting my eBay store” thread
Latin American Collection
View my last comment in the Ebay store thread. I don't feel like re-typing. At least I can set my reserve on Ebay. Just noticed that auction numbers in groups get raised at the same time.
I just got a chuckle, i know you didn’t mean it that’s way
Latin American Collection
Lol. Please never BIN anything. Items like that also make everything else look cheaper.
Feel free to bid on auctions tho!!
Yes, list your BIN for that one dude with way too much money, and it keeps your listing in that category and pulls eyes to all your stuff.
List the stuff you actually want to sell for 1c at auction. The market is crazy enough to do the work for you.
I hope that is clearer.
But again, just find a way to hit those categories in perpetuity. You guys might have 6000 slabbed nickels, but I dont, and gotta work with what I got.
(Edit.. typo.)
Unless you have a very good understanding of the eBay market for your stuff, this is a good way to lose a lot of money.
In the great majority of cases, I would recommend a fixed price eBay listing over an eBay auction, for coins. The possible exceptions would be mainly for bullion. If you'd like to expedite sales, consider adding Best Offer to the BIN listing.
Normally I'd agree.. But I've added pile after pile of free gold and silver to our stacks, tube after tube, gold after gold. And it just keeps doing this over and over and over for months on end with no sign of stopping.
And please understand, I'm very aware of how silly it is bragging about stacks to multi-millionaires, so please do understand this is meant as the example it is. Less than a month of work with less than 5k invested. Pic doesnt include approximately 60 commems.
A very many number of things are different right now, and an orthodox approach in some spheres might be inhibiting you.
But uhh this is working out for me hand over fist, every day, every category, all metals, stuff I kinda know, stuff I dont know, stuff I think I know, a lot of blind shots in the dark stick. I literally havent lost more than a coffee or two. It really is that good.
The wiggle room for mistakes is far wider in markets like this, and the scattered nuclear bids will carry you even if you mess up a little.
Here we go. I made this post as to not derail this thread. I'm adding a few things. I wont have examples done right away but I'm working on it.
If you see anything that stands out that I am doing wrong please let me know. This is my first concerted go at this. But uh, I really dont think people need much experience to make a couple extra bucks. Check it out.
Please let me know any constructive criticisms or if I need to clarify anything.
https://forums.collectors.com/discussion/1043032/making-tons-of-free-money-in-this-market-even-if-you-hardly-know-anything-about-coins-not-an-ad
All the best to you. Post a link once you get set up. Peace Roy
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Same here
Boston
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