eBay pricing
mtnman
Posts: 573 ✭✭✭
Where do dealers on eBay get their pricing? It doesn’t appear that they use the PCGS Price Guide, because, for the most part, prices are much higher than the guide. What is the PCGS Guide used for?
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there are a number of places to get a number...
for example, perhaps someone bought for $500 but the value is now $350... aaaaannnndddd you see it listed for $600 so they can get their money back.
then there is that the guide is not updated on a real-time basis. recently closed auctions are more of an indicator than a "guide."
then there are those that don't bother with guide or recent auctions or price paid. You can say they think theirs is better than others'
I list everything at 99c/auction, so I'm not setting prices. That said, I use the PCGS price guide for two things. First, as a (very) rough estimate of value. My shipping charges are based on estimated sale price, so I use the price guide to guess what a coin will close at on either side of a value threshold that will set the shipping rate. Second, I use it as a proxy for rarity within a series. It's not perfect, but for series that have many common dates with similar values and then a few dates with higher values, those numbers are a decent way to figure out the key/semi-key status of a given date, or within a date, the grade at which the coin becomes much tougher due to a large spike in price. Not a perfect science by any stretch, but hey, it's a guide.
I think they figure out what they paid for something, add a profit after ebay charges and shipping, then list it for that.
Some dealers on ebay list common stuff for moon money and still get sales. It honestly mystifies me. Myself, I use historical prices. Guides are not worthwhile for me. I think errors and varieties or things like colonials or medals are more challenging to price if thinly traded, but most stuff is pretty straightforward.
Aercus Numismatics - Certified coins for sale
then there are the premiums some people pay for toning.
or cheap coins in old holders can draw an "collectible old holder" premium
Many eBay sellers are looking for people with more money than sense.
That's what eBay is all about ... making money.
Many dealers continuously troll on eBay, with no intent of actually selling on the platform....cheap way to garner zillions of eyeballs on your wares.
Dave
Some coins are worth more than price guide. But not the amount most ask for their wares, hence the amount of stale inventory there.
FWIW I just paid $425 under PCGS guide for one coin and $75 under for another- however both were more or less in line with recent auction results. I feel this seller was realistic in their asking price.
Collector, occasional seller
I use the price guide to compare rarity within a series.
Most ebay sellers check to see what the other sellers are asking.
No Way Out: Stimulus and Money Printing Are the Only Path Left
They mostly pull them out of their hat.
I use auction history results from reputable auction companies and base my buying decisions on that for the most part. There are plenty of variables that do require variance from those auction results though.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
.....or somewhere else.
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
There's a term involving that area and hats, too
eBay selling fees and PayPal fees, and shipping costs add 9-10% to the sellers fee... I know I have an eBay store... I will sell any coin here on BST for 10% less if the payment is PPFM or a check. So please contact me here for the best price. I have many gold PCGS CAC coins available, just waiting for the price to jump back up some where. If you have any inquiries, please feel free to PM me to see if I have a coin you are looking for and can pursue on the BST board.
Alan
Successful BST transactions with: PerryHall, wondercoin, gowithmygut, RonB, oreville
It’s called being in business lol. We not in it for free.
With fees, PayPal, shipping - it takes at least a 30 pct margin to make it worthwhile. Cost plus 50 - 100 pct (PQ) will keep things simple. For world coins there is no Pcgs price guide so just go w gut feel. If World graded coins and currency low pop single digit - be aggressive in pricing.
Price guide? - send them a check if you think they ship you the coin.
That is what I do. PCGS value plus vig. No returns. Eliminates the idiots.
I rarely buy a coin from EBay. I buy from two nationally known dealers, both who have been reviewed on this forum, and I get a higher quality coin (MS vs MS) at less expense. It is just my opinion but if feel EBay has become a dumping ground for those coins dealers can't sell in their shops.
Teletrade had that reputation. Of course eBay put Teletrade out of business.
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
You must not collect Barber Halves!
Of course a lot of those dealers list on ebay also, but at a higher price than on their own website. Some BIN prices are just insane there, but we may be seeing lots of slightly overpriced coins because with so many eyeballs looking the fairly priced ones go quick. I was on there the other day when I saw a CC morgan (PCGS) that was just listed that seemed reasonably priced. In the 5 minutes it took me to look it up in the PCGS guide and confirm that it was a good deal, it was gone.
Successful BST transactions with: Cameonut, Rob41281
I've seen coins on eBay that I was interested in but their BIN price was almost double full retain. They also had a "Make an Offer" option but when their BIN price is that high, I figure "Why bother?"
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
The larger inventory sellers on Ebay are more likely to sell coins closer to guide — since some may make up their EBay fees in volume. But that still means retail guide in most cases. And of course retail guide is probably still way above auction prices for most material.
Plus many sellers have other online storefronts .... so, you might find them there and pay much less for the same coin.
There are still a lot of nice coins on Ebay. But yes, you may have to pay up so it’s aimed more at end-collectors. Unless you’re a raw variety cherry picker.
What is the PCGS Guide used for?
As a guide - do your home work, look at auction archives, etc. There is no way PCGS can keep up with all the price changes and rarely do they ever put a low ball eBay sold value in the guide despite a coins trending downward.
WS
Among the most dependably husterical things on the internet are eBay BIN and opening bid prices.
Typo.
Hysterical.
My understanding is also that certain small number of large dealers have reached a deal with eBay that they have negotiated a lower eBay fee than 6.15%... I do not know what rate has been given to these handful of dealers, but it could be as low as 2-4% (PayPal fees are still charged in addition to the reduced eBay fee.
Successful BST transactions with: PerryHall, wondercoin, gowithmygut, RonB, oreville
Companies I suspect have a negotiated lower eBay fee include apmex, moderncoinmart, U.S. Coins. This is pure speculation on my part...
Successful BST transactions with: PerryHall, wondercoin, gowithmygut, RonB, oreville
apmex used to have specials once in a while, but now even their special prices are not special, most of their buy it now auctions are full blown retail
Yes different sellers can be across the board but I just pick out fav sellers.
If BIN does not float your boat buying try auctions.
For pricing my first reference point is CPG. This is based on the bids in the CDN. CAC coins based on their particular bid in CDN which can be considerably higher.
It is tough to make generalizations about CPG vs other price guides or TPG prices. I analyze multiple sources. However cost plus (minimal markup) will trump any price guide. I look at cost, CPG, and TPG price. Pop is also a factor.
Lately currency and world low pop coins doing well for me on the Bay. For US coins that are PQ these trade well over CPG. Toners can trade 3-4 times that and even more. Many players are simply ignorant how PQ coins, toners, semi PL coins are priced nor understand the demand this premium material can generate. Lately I have been analyzing pricing (other sellers) improve my feel on pricing these (not leave money on table).
Another factor online demand has been high, very strong retail sales.
I sometimes pay up a bit for common coins with eye appeal to fill a set that I'm working on. These are <$1000 coins. I don't have the patience to wait for an auction or a show when I can fill a hole with a nice coin for a few bucks more. The transaction costs have me buried anyway so why not get the coin and enjoy it, says I. Again, this cavalier philosophy doesn't apply to more expensive coins. I have to see those in hand and do deeper price research.