EBay protocol question
keoj
Posts: 980 ✭✭✭
I must be getting old. At one point, many years ago, I occasionally bought and sold coins on eBay. At that time there used to be fierce bidding on coins. I recently listed a few coins where the values are a little difficult to determine (mint errors). So I list a coin for a value. I'm being flooded with offers that are avove the starting bid that I set, but no one is bidding. Is that the current or typical protocol where offers are just made and no bidding? Straighten me out. Thanks,
Keoj
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Comments
It’s not uncommon to get offers. Some may be good, but most that I see aren’t, and buyers want to cut out the competition. So suppose an item is at $50 (starting price or a few bids after a 99 debt start). You might get a bunch of $300 offers to end now, but I bet most of those buyers think it’s worth $500. If you know an offer is good, feel free, but over time I bet you’d lose by not waiting for bids.
I sell on consignment so contractually I let items sell at auction without offers, but just about every offer I’ve ever gotten has been a loser compared to the final price at auction.
I would let the auction run it’s course. By accepting an early offer you may alienate a last minute bidder.
"I'm being flooded with offers that are above the starting bid that I set"
Sounds like you should hurry and raise your starting bid.
Aside from sniping at the end, people don't want to bid anymore.
This is very true. Many people will just move along and forget about it instead of waiting a week to "maybe" win the auction. I've ignored offers before only to have my "stuff" sell for a lot less by letting the auction finish. Part of my reasoning used to be that the buyer who sent me the offer would still bid that amount, and maybe get outbid, but what actually happened is that they moved on and never bid at all. Times have changed, and people are a lot less willing to wait today. If you think it's a good offer, jump on it.
Early American Copper, Bust and Seated.
Fixed price listings are the way to go. You can take offers or not.
But the coin market is hot. I’d think decent items will get better than average prices (more replacements)
Sometimes the real price is hard to know. You are guessing when you set your price above 0.99, when the buyer makes you an offer, he is guessing too. I think buying is an impulse most of the time, so if you did not accept his offer he has moved on. After the impulse has gone he may not want to buy it any more. So if you really want to sell you might want to consider the offer.
That could in part depend on the scarcity of an item. If many go up and yours just happens to be the current one, then it’s easy to forget the listing after making an offer and instead wait for another. If an item rarely comes along, I’d you really want it, you’ll still bid.
My latest auction win was something (not a coin) I’d been looking for for a few years and finally the first one showed up. I didn’t email an offer, but had I and it been rejected, for sure I was still going to bid. I bid a stupid price to ensure I got it because I’m sick of looking and always coming up short. Missing this one could mean months or years before my next chance.
see how many people are watching - many of those will set snipe bids to close in last 3 seconds
let it run, it will very likely close higher than any of the offers.
One thing to look for is the # of watcher's. If you have no watchers, accept reasonable offers. If you have many watchers, then ebay will warn them the auction is ending and you may have a large bid up at the very end of the auction. I have found this to be true for most of my auctions.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Check completed sales to see what you might expect to be able to sell for and list with a reasonable price. It'll sell and you won't have to worry about whether all those watchers are going to show up at the end of the auction or you end up selling for your opening bid.
edited to add... But don't let me completely dissuade you from auctioning your coins- just about everything I buy on eBay for resale in my eBay store is from an auction.
It has been a week, what did you end up doing?
Inquiring minds want to know... What happened?? I have been out of the ebay game for a long time (other than 'buy it now' items - not coins), so it looks like things have changed. Sniping used to be my game... might be different now. Cheers, RickO
What's your ebay name ? I like errors & would like to see what's up ?
My experience has been to let the auction run. Have heard some interesting tales as to why I should take the "bird in the hand".
Letting it ride is the only way to determine "true value"... at that particular moment in time.
Collector, occasional seller
Sometimes you have to listen to what the marketplace is saying, no matter how loudly "what we think" is insists on being.
Set the offer price you will consider at a point you would be happy to sell. This is not visible to potential buyers, but saves your having to deal with lowball offers. Or don't accept offers
I was amazed at the ridiculous offers I have received like, "Would you sell those Peace dollars for $5 each."
I did not bother to respond to stupid offers, before I learned to set the offer consideration price higher.
I rarely do auctions anymore. The last time I had a coin that I needed to auction was a 25/50 Bust Quarter...a tough variety. It wasn't certified so the most I could list or start it for was $2500. The 1st night I had 3 or 4 offers in the low 3's. It sold for over 5!