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Ebay listings ended early

Many of us have faced this problem. You see an item in an ebay auction that is priced below market value and you'd like to bid. But you don't want to run up the price, so you wait until the end of the auction or use a snipe bid to enter your bid without running up price too much. After the auction ends you are greeting with a "Seller ended the auction early." message. Although there are a variety of reasons that this happens, perhaps the most common is that the seller receives an offer better than he expected to receive at auction. Sometimes, as in this case, the lack of bids can contribute to the sellers perception that the item isn't particularly valuable. This happens quite often with obsoletes and I'll tell you how I deal with it.

Case in point. The below linked note. Started at $7 and received only one bid, so seller pulls it on last day. My snipe bid was in the hundreds. I sent the seller a message through ebay this morning telling him I would pay "in the hundreds" for this note. This works sometimes. I then thought that I could do better. I sent a second message offering to bid $200 for this note as soon as listed if the seller would relist it with a $200 start price. I'll pay more but not what I was originally willing to pay. Sellers don't understand the thin market for items like these. That's why there's only one bid at $7. It's not that it isn't worth more, it's more that even ebay may not find you a two buyers willing to compete for it. The market is so thin that the number of buyers willing to pay more than $200 on this note can be counted on one hand.

The terrible pictures didn't help, either.
https://ebay.com/itm/363161686880?ViewItem=&item=363161686880

Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.

Comments

  • Steve_in_TampaSteve_in_Tampa Posts: 1,791 ✭✭✭✭✭

    It’s remarkable how poor the photographs were. It’s almost like he didn’t want to sell it.

  • 291fifth291fifth Posts: 23,858 ✭✭✭✭✭

    The problem is that you may be the "market". He needs an enthusiastic underbidder as well.

    All glory is fleeting.
  • sellitstoresellitstore Posts: 2,368 ✭✭✭✭✭
    Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.
  • davewesendavewesen Posts: 5,682 ✭✭✭✭✭

    I dislike the ones that cancel it early because someone gave them an offer for xx (usually much less than my max bid).

    The last couple times that has happened to me I messaged the seller and said I hope they paid you well as my max snipe bid was xxxx.

  • Serial_no_8Serial_no_8 Posts: 415 ✭✭✭

    I've had this happen too many times to tell. I was so glad when eBay finally hid our seller's ID. I mean I started to get paranoid & made a point nobody knew my eBay handle. It got to the point where the only type of auction I could win was through last minute sniping. Right now I feel like the market is bizarre due to so many green collectors getting in on the action due to social media hype. Too many minnows going on a feeding frenzy. I don't know, but I find I'm backing out more often then not- since I don't want to enter a "biddiot" bidding war on a borderline tough note these days. (So I get what you're saying when you wrote that the note is "tough," around $200 but not that tough - you only have so much wiggle room).

  • Complete side note, no vignette...but the denomination is cool! Long ago I started collecting random obsoletes just to make a denomination "collection". It proved much tougher than I thought!

    -Looking for nat'ls from charter #'s: 1-100 (Large Size), 1764, 1973, 2004, 2006, 4378, 6528, 7098, 7403, 9291, 10008, 12697. Also looking for S/N 23 and Fr. 239*.
  • sellitstoresellitstore Posts: 2,368 ✭✭✭✭✭

    Yes, you are right. The odd denomination adds some desirability but a $1.50 note isn't as unusual as you may think. At least half a dozen states issued them. Massachusetts had several banks that issued $1.25, $1.50, and $1.75 notes.

    There's still a decent chance that I'll end up with the note. They seem to find their way to me. If anyone here has the chance to buy it I'm a buyer at $200. I would have been a buyer at $300 if the seller had followed my suggestion and listed it at $200 start for auction but not now. I at least want the opportunity to buy it cheaper, competition permitting. With over 6000 different NY obsolete notes, I don't exactly "need" this one. I still am able to pick up dozens of notes that I don't have for under $100 each every year. I buy expensive ones, too, but who doesn't want to fill as many empty holes in their collection as is practical-and I'm still able to with my NY collection. NY banks and merchants issued tens of thousands of different bank notes during the obsolete period, late 1700s-1866.

    Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.
  • metalica23metalica23 Posts: 29 ✭✭
    edited March 28, 2021 1:10PM

    Ha. Ironically, I'm in MA! I should really get back on the denomination bandwagon. I may have to bend your ear for advice/help/inventory! And just noticed my signature...I should probably change that. I can't tell you the last time I posted here...

    -Looking for nat'ls from charter #'s: 1-100 (Large Size), 1764, 1973, 2004, 2006, 4378, 6528, 7098, 7403, 9291, 10008, 12697. Also looking for S/N 23 and Fr. 239*.
  • csdotcsdot Posts: 669 ✭✭✭✭

    So eBay Seller had an open auction that was only bid up to $7. You message eBay Seller that you would be a buyer at $200, then Seller cancels original auction and starts another with a $300 Buy it Now, which is not on its second round as a relisted Buy it Now listing.

    I agree with you that the Seller is being a schmuck. I would make sure not to buy it from his auction on principle alone.

  • JimnightJimnight Posts: 10,681 ✭✭✭✭✭

    Some funny people on ebay!

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