The demise of eBay has fueled the success of Great Collections.
Maywood
Posts: 2,409 ✭✭✭✭✭
There was a thread last week discussing Great Collections and asking whether it was a real auction site. It looked peculiar to me and spawned some interesting discourse with pretty much everyone agreeing that, yes, GC is indeed an auction site and a very good one at that. I don't recall replying but it caused me to investigate eBay a little in areas where I regularly search. The answer to my question is sort of shocking --- How many "true auctions" currently run at eBay in areas I search??"
I have three searches, the first one is in Exonumia where I simply add HK to the search bar looking for So-Called Dollars. Right now it returns 1,300+ under "all listings" in the category. If I use the bar above the listings and switch to "Auctions" it returns only 91 listings!!! Wow. I suppose that not too different in categories across the board, but I thought I'd ask members to do the same thing in searches at eBay for whatever coins they're searching for.
With things like that taking place it's no wonder Great Collections is continuing to build their following and growing more successful with each passing sale. It's a good business model, one that eBay seems to have left behind as it becomes a for sale site. Additionally, GC offers a security that eBay just cant and I find I rarely see anything there, but I keep looking.
Please post your search results, inquiring mind(s) would like to know what you find.
Maywood
Comments
I dunno. Last year I still did 6 figures on eBay and not one dime on GC. This year.... I've cutback some ( deliberately).
Wow, I'd have guessed at least 1/3 to 1/2. The reality being 9% is surprising.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
Depends what side of the transaction you’re on. Now sellers are doing well. I have to really want something because I know I will have to pay up. Many times I can find similar coins on dealers websites for less. 10 years ago you could really get a deal and (almost) no one ever sniped.
It really depends on the exact coin. Some are BIN or BIN w/ offer, and others are auction heavy. Some of the asks on eBay are ridiculous though. I've seen people asking thousands for a coin worth several hundred or maybe $1k (worth being based on the last 3 months of sales data including coin facts that lists sb, ha, gc etc). Some of the asking prices are all over the place!
https://www.the4thcoin.com
https://www.ebay.com/str/thefourthcoin
I collect American silver, flat and hollowware. Today the ebay listing count under Coin Silver is 7,996 BIN and 429 auction. In addition, many of the auctions begin at high retail, so they might as well be considered BIN, too.
That's been the norm for quite some time now.
On the flip side I am glad Ian did for our numismatic community, what he has.
@spyglassdesign said: It really depends on the exact coin. Some are BIN or BIN w/ offer, and others are auction heavy. Some of the asks on eBay are ridiculous though. I've seen people asking thousands for a coin worth several hundred or maybe $1k (worth being based on the last 3 months of sales data including coin facts that lists sb, ha, gc etc). Some of the asking prices are all over the place!
Some of the BIN prices are indeed high. I received an e-mail offer this morning for $500 off a listed medal!!
Another tactic I have encountered is eBay sellers who buy at auction and immediately resell at eBay for more than 2-3 times the purchase price with the juice!! One seller in particular does that and it's items I have bid on and lost to them(because I was the under-bidder) at either Stack's or Heritage. When I make them a reasonable offer which gives them a short term profit they always refuse, then I watch the items list for month after month.
It can be very frustrating.
@Maywood yeah... I'd bet some of them are listing coins for tax reasons so they can have a 'shop' with expenses and a loss. They don't really want to sell but they have to make it appear so.
https://www.the4thcoin.com
https://www.ebay.com/str/thefourthcoin
This is another dumb clickbait thread title.
I've had the BEST YEAR I've ever had on eBay.
The whole basis of the OP's flawed supposition is that auctions somehow matter more than fixed price listings. Do you all remember the good old days of going to the local B&M and bidding on their coins? No? You mean you literally found what you liked and negotiated a price and bought it? That's CRAZY!!! [And also exactly how eBay works.]
Hey, OP, try this little exercise. Pick a coin, any coin and tell me whether there are more of them on GC or more of them on eBay right now.
eBay and GC don't even occupy the same retail space.
What's the listing count on GC for the same items?
I am mostly a dealer. However, I do have a few coins that I really like. I price them well above current market value hoping they hang around for a while. [Oddly, it only works about half the time. LOL.]
I'm really surprised that GC has more than 91 so-called dollar auctions running now. I'm even more surprised that GC has more than 1300 so-called dollars listed.
Oh, wait. I just looked. THERE ARE ZERO LISTINGS ON GC UNDER SO-CALLED DOLLARS.
You might want to fix your title. I think you accidentally switched eBay with Great Collections.
1881-S Morgan dollar
141 on Great Collections
325 auctions on eBay - 2.3x the number on GC.
Also, a BONUS of 3200+ fixed price listings. So there are TWENTY FIVE TIMES as many 1881-S Morgans on eBay than on Great Collections.
"Demise"? LMFAO
I wonder how many ebay buyers also use great collections. Certainly if you want ungraded material ebay is the place to go. I use ebay to find coins and see id the seller has a website and get the item for much cheaper, but I suspect a lot of people don’t do this.
Well, I just don't know. I know Ebay has more of everything on its site then any other site including Heritage...
I wonder sometimes if Heritage is going to buy GC?.....
1885 Liberty Nickel
4 of them on Great collections
16 auctions on eBay (4x as many)
171 Buy It Now on eBay.
The four coins on GC are a Fair2, XF details, AU-58+ CAC and a VF-35 CAC.
The 16 auctions on eBay include (just slabbed) a G6 and an AG3 while the BIN include (slabs only) a G4, VF20 details, FR2, VG details, Proof 64, G4, AU details, XF details, VG8, F12, VG10, XF45, Proof 65, AU55, AU58, XF45, MINT STATE 62 (three of them), Proof 65. There are no fewer than THREE MS-67 coins and and MS-66+ CAC, TWO MS-66 and an MS64 CAC as well as a PROOF 68.
So, if you wanted an 1885 Liberty Nickel, where would you go? I'd go to eBay!
welcome to the ignore list, lanzaf. now, back to our regularly scheduled discussion.
@jmlanzaf said:
Nobody goes there anymore, it's too crowded.
He did searches and reported his results as you requested and you're ignoring him now? Not that inquiring a mind, after all, seems to me.
When some people hear the truth that they do not want to hear, they ignore it, dismiss it, and do not want to be educated.
When some people hear lies that fit their views, they embrace the lie and ignore the facts.
I do not get it.
While I generally dislike when people call out threads as clickbait, I think the proof is in the pudding on this one. Flawed conclusion based on too limited data.
And, you got an undeserved 'ignore' when you gave him proof that discredits his argument.
You know the infamous line? 'You can't handle the truth!' 😜
https://www.the4thcoin.com
https://www.ebay.com/str/thefourthcoin
Oh, I think we know two things:
So, we all got what we deserved!!!
I'm going to go list some stuff on eBay. I need to make my money before the lights go off!
Playing devil’s advocate, those ratios should narrow some if you look at just auctions that actually transacted. There are a lot of eBay auctions that I have been skipping over lately while looking for large cents to fill my set because the seller has an above market starting bid. I’m not at all saying that eBay is on its way out but I’m glad there are multiple other viable places to transact.
A quote from Mark Twain comes to mind . . . . .
I think GC seems to be doing better and better, and it's competing with ebay for a lot of the price level it operates in.
I've seen a change in ebay over the last 10 years, but I think GC is only a small part of it. GC on average operates at a price level for the second tier of coins (right below places like HA), and I think that's their strength. They do get some top tier coins. I'm only speaking generally.
Ebay has shifted away from being an auction platform to being more of a fixed-price selling platform. If you are a pure auction person, then I can see you getting more excited about GC these days.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
Look at my 1885 nickel data. There's also more and BETTER slabs on ebay
A lot of the buyers on eBay have shifted, anyway. I used to run 80 to 100 auctions a week, now everything is fixed price. "Bidders" embracing sniping in order to avoid having others respond to their bid turns that bid into a binding offer. I can understand not wanting to compete with other buyers but I would prefer to set my own price rather than letting the buyer do it. So- no more auctions for me.
More and more I am seeing high reserve bids needed to start the bidding on gold coins on GC. Probably the signs of a hot market where sellers are worried the auction will not work out.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Not a fan of paying a buyer fee plus a shipping fee on GC. Yeah, Yeah, add it to your final amount you're willing to pay, etc. I can usually get the same or better on ebay no fees to me and about the same or lower cost
I handpick the coins I buy.
I do not care where I buy them from. Many different sources.
When I go to sell, it is eBay, my website, and Instagram.
If you know what you're doing ebay can be a great option. Many sellers have limited capital to work with, so delays in grading and increased rates are a major problem for them. One good thing about GC is that they will get coins graded faster at discounted rates and then schedule them in their auctions, so if you have nice high end coins needing grading and possibly cac submissions they will get that done.
Totally agree on all counts.
Trigger warning.
Danger will Robinson. Danger.
I'm staying away.
eBay started off as an all-auction venue but has been gradually trying to become Amazon for quite some time now. I still like going old school and doing the auction thing when we list. Unfortunately a lot of "buy it now" pricing is more like "let's see if we can get moon money" pricing.
RIP Mom- 1932-2012
What you described is usually the sign of a weak market, not a strong one.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
.
Totally disagree with the OP. Bought lots from GC retailed for good profit margin both eBay and shows.
eBay remains the worlds largest coin show. GC is my fav auc site and a strong source for quality inventory.
Ebay is far from dead and I shop there for the variety and very reasonable shipping and taxes. GC is where I go to get lucky at getting a specific coin; often times at 25% below price guide value. Their shipping and fees are a bit much though as my last purchase at around $300 added almost 12% to the cost. Both sites serve a purpose for me.
USAF veteran 1984-2005
This explanation makes no sense - google the IRS safe harbor rule.
eBay and GC are both awesome in different ways. Auction houses, dealer websites, shows, local shops, social media, etc. all have certain advantages and disadvantages - you have to learn what makes sense in what situation. Are you buying junk silver, selling 19th C CAC material, collecting major rarities or flipping US Mint releases?
Dunno, eBay is rockin' my world right now.
I love GC, but dat volume I'm throwing at eBay... Note that a nice chunk of this is raw stuff I simply cannot sell on GC.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I was trying to get at the fact that it's a hot market but sellers are worried they may have missed the boat so they want to protect and not sell at a low price. Sorry for the confusion.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
ebay is becoming a storefront for sellers who do not want the hassle of overhead and expenses. As such it deals with fixed prices. Many large established retailers are now selling on ebay as well as from their own websites.
Repetition of ignorance is ignorance raised to the power two.
Look at those impressions and page views! Where else am I gonna get 50,000 pairs of eyes on my coins? That's what, 8-10 times the attendance of ANA WFOM?
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Ok, Long time buyer and seller of Lincoln cents here - so no facts, just gut feelings. Yes, I am allowed to rant gut feelings. Interesting that in the old days, eBay use to list the number of total Lincoln cents listed. That number went from around 7,000 on any given day in the 1990's to around 11,000 when they stopped several years ago. (unless that number is not hidden ?? then please educate me) My guess is that its more...More absolute crap. Posted by many scammers with 0 feed back. Every cent they listed is rare and worth thousands. Every 1992 is a close AM, every 1909 VDB is a Matte Proof, etc.,. Sure its a free world, you can list what you want. But the lack of any control, or scrutiny of this BS is beyond my wanting to sell there any longer because my gut feeling tells me its tolerated now more so in the past. Why say this?? Because it takes whole lot of us to bring listings with counterfeit, stolen picture, fake slab, etc down. In the past, all you had to do was tell them once and they were on it. I stopped selling mostly slabbed cents about 2 years ago on eBay. I was absolutely blown away by the lack of bids, and the loss of money on final prices. I would compare the same coin on GC using their auction archive and could see the same coin was bringing stronger money so I only sell on GC now. And it's been just fine. More bids, better sales. I think - Gut feeling again.. When store fronts became the thing and occasional sellers like myself where no longer the main income for eBay, well, thats another reason to stop selling there. As far as the rest of stuff to buy on eBay, I use it a lot. But coins and as I said, particularly cents, I think there has been a drop in serious collectors shopping at eBay than before. It might be not just because of GC, but other on line markets that have evolved and it has to be taking some percentage of sales/bids away. I would like to hear your opinion if you sell Lincoln cents on eBay or GC.
WS
So it seems I'm the village idiot, yet numerous members have in basis agreed with what I've said, received "likes" or "agrees" and gotten a free pass on the ridicule. That's about par for the course here and doesn't really bother me.
I've been a member at eBay for about 25 years now and it's a mere shadow of what it once was last century. I guess that was what I so in-eloquently tried to express. Geez, you guys are testy today!! Ragging on eBay at this site has a well established history bordering on blood sport, so I didn't say much of anything that hasn't already been expressed by others. Maybe I used the wrong word, demise, or maybe I'm a newer member who isn't entitled to express his opinion. This much I know --- look at the replies that are critical of what I posted and you should see a number of members who are dearly dependent on what business they transact at eBay. Of course they'd want to defend the site and ridicule any contrary opinion.
Believe me, I get it and apparently others do, also.
David Lawrence has some awesome coins on eBay.
At a fraction of the "table fees"....
Careful. All you ebay boosters are going to join me on "ignore".
I sell Lincoln Cents on ebay, mostly fixed price. There is too much material on ebay. If you list anything but the rarest of coins, you can't guarantee you'll get bids. While there might be 2 or 3 in a GC or Heritage auction, there will be dozens or hundreds on ebay.
You can see the total number. You can also use advanced search to get better results.
Currently in the US Coins category:
--- 1,044,576 total listings.
--- 148,557 Auction listings.
That's 14%.