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How can a BiG bullion dealer sell for less on eBay,,,,

GRANDAMGRANDAM Posts: 8,371 ✭✭✭✭✭
edited October 24, 2022 10:08AM in U.S. Coin Forum

Than on their own web site?
Example: I found a 2022 1 oz raw Platinum Eagle on eBay from one of the biggest bullion guys out there. eBay price is $1060 and you can buy with credit card at that price. On their on web site price is $1085 and if you use a credit card price is $1131.

They have to pay some selling fees on the eBay sale so tell me how they do it?

Why isn’t a direct sale from their web site cheaper? You have to be a fool to pay more on their site. Buy on eBay cheaper and get credit card cash back dollars.

I guess what they lose on ebay sales they make up for in eBay volume,,,,,,, NOT!!!!!!!

GrandAm :)

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    ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    I have no idea, but running your own website does has costs, processing fees, and lots of labor.

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    GRANDAMGRANDAM Posts: 8,371 ✭✭✭✭✭

    @ErrorsOnCoins said:
    I have no idea, but running your own website does has costs, processing fees, and lots of labor.

    But they already have the web site

    GrandAm :)
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    johnny9434johnny9434 Posts: 27,503 ✭✭✭✭✭

    bigger purchase, bigger discount and a website?

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    They are 'casting bait' in a big pond..... Hoping to catch some longer term clients. And likely not losing on the sales they make there... just thinner margins. Cheers, RickO

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    jmlanzafjmlanzaf Posts: 31,891 ✭✭✭✭✭

    @GRANDAM said:
    Than on their own web site?
    Example: I found a 2022 1 oz raw Platinum Eagle on eBay from one of the biggest bullion guys out there. eBay price is $1060 and you can buy with credit card at that price. On their on web site price is $1085 and if you use a credit card price is $1131.

    They have to pay some selling fees on the eBay sale so tell me how they do it?

    Why isn’t a direct sale from their web site cheaper? You have to be a fool to pay more on their site. Buy on eBay cheaper and get credit card cash back dollars.

    I guess what they lose on ebay sales they make up for in eBay volume,,,,,,, NOT!!!!!!!

    They could be making money both places. There are other factors than simply cost that determine pricing.

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    Jzyskowski1Jzyskowski1 Posts: 6,651 ✭✭✭✭✭

    Loss leader as I remember was the old school term. Get em through the door and hopefully other items catch their attention. It’s also part of the advertising budget if so desired.

    🎶 shout shout, let it all out 🎶

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    CaptHenwayCaptHenway Posts: 31,548 ✭✭✭✭✭

    Yes, a "loss leader." Get their name and contact information. Then try to sell them stuff.

    When I was still working on a coin shop I did an appraisal on an estate that had about a million dollars worth (per invoice prices) of slabbed U.S. gold that the deceased had taken money out of his IRA to buy, so the estate owed income taxes on that, and my offer to buy came in at under $400,000.

    The invoices also showed that the original purchase was a BU 1/10th ounce gold eagle sold at melt. That was the "loss leader."

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    tyler267tyler267 Posts: 1,234 ✭✭✭✭

    @CaptHenway said:
    Yes, a "loss leader." Get their name and contact information. Then try to sell them stuff.

    When I was still working on a coin shop I did an appraisal on an estate that had about a million dollars worth (per invoice prices) of slabbed U.S. gold that the deceased had taken money out of his IRA to buy, so the estate owed income taxes on that, and my offer to buy came in at under $400,000.

    The invoices also showed that the original purchase was a BU 1/10th ounce gold eagle sold at melt. That was the "loss leader."

    I always hate to hear stories like this.

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    vplite99vplite99 Posts: 1,181 ✭✭✭✭✭

    When I was still working on a coin shop I did an appraisal on an estate that had about a million dollars worth (per invoice prices) of slabbed U.S. gold that the deceased had taken money out of his IRA to buy, so the estate owed income taxes on that, and my offer to buy came in at under $400,000.

    Ouch!

    Vplite99
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    Cougar1978Cougar1978 Posts: 7,616 ✭✭✭✭✭
    edited October 24, 2022 7:00PM

    I would think they would be higher on eBay. How the big boys make money a mystery to me and don’t have time to worry about it. Just go for the deal best for you. Maybe he has better retail buyers from the online store or cost structure different.

    So Cali Area - Coins & Currency
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    davewesendavewesen Posts: 5,849 ✭✭✭✭✭

    Many revise their selling price on eBay with a computer program tied to current cash market. Look at revision history and sometimes see asking price change every 7 minutes. I doubt they adjust their websites that often so when price is down that day, looks cheaper on eBay.

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    jmlanzafjmlanzaf Posts: 31,891 ✭✭✭✭✭

    @davewesen said:
    Many revise their selling price on eBay with a computer program tied to current cash market. Look at revision history and sometimes see asking price change every 7 minutes. I doubt they adjust their websites that often so when price is down that day, looks cheaper on eBay.

    There's some famous examples of bot wars on Amazon. In several cases, the bots were designed to be 1 cent cheaper, so they battled the price down to 1 cent. In an even more interesting battle, they were designed to be slightly more expensive and a common book ended up priced at 6 figures.

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    MetroDMetroD Posts: 1,935 ✭✭✭✭✭

    Another example involving Walmart.

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