@spacehayduke said:
Can you say Bed, Bath, and Beyond? Sadly a failing buisness model. Their extortionist fees are killing sellers in terms of value to the buyers. A spiraling downward failure. And then, they don't really resolve all issues that come up and there are shills, scams, etc. What is not to like? So no surprises, my feepay buying is much reduced and every time I reconsider starting a store, I look at the fees and realize it is simply not possible to do well selling coins there given that feepay will be taking 35-50% of my profit. If they cut FV fees to say 5%, maybe.............
They are at 8.7%, including transaction processing. That is CHEAP.
Funny that everyone loved GC and they are double that.
8.7%, ~3% CC fees, + shipping. For a $100 item, usually $3-5. So $11.7 + $3 shipping (no insurance), is 14.7% costs. If you buy an items for resale and then boost the price 20%, feepay and fees take 70% of the profit, then you have tax on the remaining. Not worth the effort..........
You're counting the CC fees twice. They are in the 8.7%
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%? Just because you don't want to do the work yourself?
[Your tax liability is the same. ]
You also can't just consign anything you want to an auction house. Good luck getting them to take 5 or 6 $50 items.
@jmlanzaf said:
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%?
Lots of people call eBay "feebay" or "feepay" or some other silly thing but I've never seen GC called "Greedy Collections" or anything at all like that. I wonder why?
@jmlanzaf said:
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%?
Lots of people call eBay "feebay" or "feepay" or some other silly thing but I've never seen GC called "Greedy Collections" or anything at all like that. I wonder why?
I like them all. They all have their place. I just find the bias to be interesting.
I do wonder how much money people cost themselves as a result of the bias. I'm thinking the BP here. They obsess over it without considering that the higher BP might yield a higher net.
@jesbroken said:
After owning several businesses and running several others, I would hate to see anyone face a total loss and go away. It is a hard business climate in the world today and longevity is short lived at times. lol While you may hate ebay for your own reasons, it opened the door to a coin market unbelieveable in scope. With the closure of many B&M's and almost all local coin shows and events in the 80's pickings were mighty slim as was dependability. Now with all it's problems it offers one of the largest coin sales and purchase platforms, if not the largest, available today. Oh yes, I have had many gripes about their changes, but probably so do we all with Walmart, Amazon, Lowes, etc. It's just not our business to run. It is still the first place I go when I sit down at the computer each day. JMO
Jim
If I'm looking to buy something, coin related or not [more often it's not] eBay is my go to source over Amazon.
@jesbroken said:
After owning several businesses and running several others, I would hate to see anyone face a total loss and go away. It is a hard business climate in the world today and longevity is short lived at times. lol While you may hate ebay for your own reasons, it opened the door to a coin market unbelieveable in scope. With the closure of many B&M's and almost all local coin shows and events in the 80's pickings were mighty slim as was dependability. Now with all it's problems it offers one of the largest coin sales and purchase platforms, if not the largest, available today. Oh yes, I have had many gripes about their changes, but probably so do we all with Walmart, Amazon, Lowes, etc. It's just not our business to run. It is still the first place I go when I sit down at the computer each day. JMO
Jim
If I'm looking to buy something, coin related or not [more often it's not] eBay is my go to source over Amazon.
I always check eBay, Amazon and Walmart. 10 years ago, Amazon was the cheapest. These days, more often than not, both Walmart and eBay are cheaper.
You're counting the CC fees twice. They are in the 8.7%
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%? Just because you don't want to do the work yourself?
[Your tax liability is the same. ]
You also can't just consign anything you want to an auction house. Good luck getting them to take 5 or 6 $50 items.
I don't disagree with you in terms of the other auction houses. They all take more than one can benefit in terms of value IMO. Did not know CC fees are in the 8.7%. Good to know, but margins are still tight..............
You're counting the CC fees twice. They are in the 8.7%
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%? Just because you don't want to do the work yourself?
[Your tax liability is the same. ]
You also can't just consign anything you want to an auction house. Good luck getting them to take 5 or 6 $50 items.
I don't disagree with you in terms of the other auction houses. They all take more than one can benefit in terms of value IMO. Did not know CC fees are in the 8.7%. Good to know, but margins are still tight..............
Margins are definitely tight on coins, all the time. When you are set up at a mixed show (antiques, stamps, cards or whatever), the non-coin dealers would tease us about the silly thin margins.
Online venues aside. Consider being in the coin/bullion business. You buy AGEs at spot ($1860) and IF YOU'RE LUCKY you retail it at $1960. If you don't have retail customers, you try to buy at $1810 so you can wholesale at $1860. What other non-financial business asks you to lay out $2000 in hopes of making $100. (rounding)
Unless you are in the middle of nowhere, you can't buy coins more than 20% back of retail/auction comps. That makes the widest possible gross margin 20% with a lot of items (bullion, slabbed coins) at 10% or less. And those are GROSS margins.
That's why I've branched out into comics and toys and stamps. They aren't as liquid as coins, but there are normal retail margins available.
@jmlanzaf said:
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%?
Lots of people call eBay "feebay" or "feepay" or some other silly thing but I've never seen GC called "Greedy Collections" or anything at all like that. I wonder why?
Maybe it's because their fees and services are more reasonable than the other major auction companies?
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
@jmlanzaf said:
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%?
Lots of people call eBay "feebay" or "feepay" or some other silly thing but I've never seen GC called "Greedy Collections" or anything at all like that. I wonder why?
Maybe it's because their fees and services are more reasonable than the other major auction companies?
@jmlanzaf said:
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%?
Lots of people call eBay "feebay" or "feepay" or some other silly thing but I've never seen GC called "Greedy Collections" or anything at all like that. I wonder why?
Maybe it's because their fees and services are more reasonable than the other major auction companies?
But more expensive than ebay
Yep. That's kind of the point. Not that some people will admit it.
@jesbroken said:
After owning several businesses and running several others, I would hate to see anyone face a total loss and go away. It is a hard business climate in the world today and longevity is short lived at times. lol While you may hate ebay for your own reasons, it opened the door to a coin market unbelieveable in scope. With the closure of many B&M's and almost all local coin shows and events in the 80's pickings were mighty slim as was dependability. Now with all it's problems it offers one of the largest coin sales and purchase platforms, if not the largest, available today. Oh yes, I have had many gripes about their changes, but probably so do we all with Walmart, Amazon, Lowes, etc. It's just not our business to run. It is still the first place I go when I sit down at the computer each day. JMO
Jim
If I'm looking to buy something, coin related or not [more often it's not] eBay is my go to source over Amazon.
I always check eBay, Amazon and Walmart. 10 years ago, Amazon was the cheapest. These days, more often than not, both Walmart and eBay are cheaper.
Speakin a eBay have they seriously reduced categories for which one can earn eBay bucks? I have bought quite a few items via eBay [nothing really pricey] but I still owe them 22 cents in bucks for something I returned more than a year ago. FWIW eBay bucks has mostly ZERO influence on my decision to buy or not.
@jesbroken said:
After owning several businesses and running several others, I would hate to see anyone face a total loss and go away. It is a hard business climate in the world today and longevity is short lived at times. lol While you may hate ebay for your own reasons, it opened the door to a coin market unbelieveable in scope. With the closure of many B&M's and almost all local coin shows and events in the 80's pickings were mighty slim as was dependability. Now with all it's problems it offers one of the largest coin sales and purchase platforms, if not the largest, available today. Oh yes, I have had many gripes about their changes, but probably so do we all with Walmart, Amazon, Lowes, etc. It's just not our business to run. It is still the first place I go when I sit down at the computer each day. JMO
Jim
If I'm looking to buy something, coin related or not [more often it's not] eBay is my go to source over Amazon.
I always check eBay, Amazon and Walmart. 10 years ago, Amazon was the cheapest. These days, more often than not, both Walmart and eBay are cheaper.
Speakin a eBay have they seriously reduced categories for which one can earn eBay bucks? I have bought quite a few items via eBay [nothing really pricey] but I still owe them 22 cents in bucks for something I returned more than a year ago. FWIW eBay bucks has mostly ZERO influence on my decision to buy or not.
They essentially eliminated then a couple years ago
@jesbroken said:
After owning several businesses and running several others, I would hate to see anyone face a total loss and go away. It is a hard business climate in the world today and longevity is short lived at times. lol While you may hate ebay for your own reasons, it opened the door to a coin market unbelieveable in scope. With the closure of many B&M's and almost all local coin shows and events in the 80's pickings were mighty slim as was dependability. Now with all it's problems it offers one of the largest coin sales and purchase platforms, if not the largest, available today. Oh yes, I have had many gripes about their changes, but probably so do we all with Walmart, Amazon, Lowes, etc. It's just not our business to run. It is still the first place I go when I sit down at the computer each day. JMO
Jim
If I'm looking to buy something, coin related or not [more often it's not] eBay is my go to source over Amazon.
I always check eBay, Amazon and Walmart. 10 years ago, Amazon was the cheapest. These days, more often than not, both Walmart and eBay are cheaper.
Speakin a eBay have they seriously reduced categories for which one can earn eBay bucks? I have bought quite a few items via eBay [nothing really pricey] but I still owe them 22 cents in bucks for something I returned more than a year ago. FWIW eBay bucks has mostly ZERO influence on my decision to buy or not.
They essentially eliminated then a couple years ago
Comments
You're counting the CC fees twice. They are in the 8.7%
The exact same calculation applies to GC, Heritage etc. Why is paying GC 18-20% better than paying ebay 11.7%? Just because you don't want to do the work yourself?
[Your tax liability is the same. ]
You also can't just consign anything you want to an auction house. Good luck getting them to take 5 or 6 $50 items.
Lots of people call eBay "feebay" or "feepay" or some other silly thing but I've never seen GC called "Greedy Collections" or anything at all like that. I wonder why?
I like them all. They all have their place. I just find the bias to be interesting.
I do wonder how much money people cost themselves as a result of the bias. I'm thinking the BP here. They obsess over it without considering that the higher BP might yield a higher net.
{I heard this morning on CNBC}
What's next? Getting advice on coin collecting from "The View" ?
"When they can't find anything wrong with you, they create it!"
If I'm looking to buy something, coin related or not [more often it's not] eBay is my go to source over Amazon.
I always check eBay, Amazon and Walmart. 10 years ago, Amazon was the cheapest. These days, more often than not, both Walmart and eBay are cheaper.
I don't disagree with you in terms of the other auction houses. They all take more than one can benefit in terms of value IMO. Did not know CC fees are in the 8.7%. Good to know, but margins are still tight..............
Margins are definitely tight on coins, all the time. When you are set up at a mixed show (antiques, stamps, cards or whatever), the non-coin dealers would tease us about the silly thin margins.
Online venues aside. Consider being in the coin/bullion business. You buy AGEs at spot ($1860) and IF YOU'RE LUCKY you retail it at $1960. If you don't have retail customers, you try to buy at $1810 so you can wholesale at $1860. What other non-financial business asks you to lay out $2000 in hopes of making $100. (rounding)
Unless you are in the middle of nowhere, you can't buy coins more than 20% back of retail/auction comps. That makes the widest possible gross margin 20% with a lot of items (bullion, slabbed coins) at 10% or less. And those are GROSS margins.
That's why I've branched out into comics and toys and stamps. They aren't as liquid as coins, but there are normal retail margins available.
Maybe it's because their fees and services are more reasonable than the other major auction companies?
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
But more expensive than ebay
God help us!
Maybe they can add the view sticker to the slab right next to the cacs sticker. lol THKS!
Yep. That's kind of the point. Not that some people will admit it.
Let's get back on topic
.
.
"Got a flaming heart, can't get my fill"
Speakin a eBay have they seriously reduced categories for which one can earn eBay bucks? I have bought quite a few items via eBay [nothing really pricey] but I still owe them 22 cents in bucks for something I returned more than a year ago. FWIW eBay bucks has mostly ZERO influence on my decision to buy or not.
They essentially eliminated then a couple years ago
ty