Small, small, small E-Bay seller 1st qtr report
jkrk
Posts: 987 ✭✭✭✭✭
We only sell DE's and $10 Indians.
Sales are not "booming" right now. Clearly the rise in gold has caused some buyers to just watch and wait a bit. Quite a number of counters to our offerings but in most cases too big a gap. With that said, coins moved, when the grade fit the buyers needs. Overall, generics didn't move that well as we moved prices up with the uptick in gold. Overall a solid/steady qtr when it was all over but was not our best.
Buying.. Very, very difficult for us. We probably bought less than 50% of the number of coins we sold. The result.. as our inventory declines we have even less of an incentive to negotiate selling prices since we can't replace very much inventory.
We always have a minimum number of ounce of gold we wish to hold. As we get close to that number we will not price very competitively.
Anybody else?
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I agree that buying since around Feb 1st has been extremely tough. Basically it’s all stale merchandise at elevated prices, and I mentioned this to several dealers at the Baltimore show last month. Hopefully this turns around sooner than later
I don't know. I've never thought DEs were a good item for Ebay. That said, in general DEs have never been hotter. Generic XFs carry a $300 premium over spot.
Never seen anything like it, 1904s in 64 going for 2600 on fb now
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Agreed. The craziest thing are the XF common dates. They used to trade at $50 over bullion as essentially a bullion coin. Now they have a $300 premium. Insane. You can WHOLESALE XF DEs at $275 over currently.
Upstate has Bid $2520 and Ask $2620 for 64 Libs.
Interesting, just about every show report (including the most recent one from last weekend) has gold on fire and only getting hotter. Your experience seems to be more the outlier than the norm from what I've seen and read.
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Never a slave to one plastic brand will I ever be.
Gold is hot. Thus I can't buy very much at prices that attract me.
I can't go near generics on the buy side. I try to upgrade when it makes sense. I am not interested in moving generics on E-Bay since the spreads no longer work for me. If I were to sell generics I would go to the wholesale market and save the effort. On E-Bay My generic prices are priced high, intentionally to reflect my shrinking inventory levels. This leads to our lower sales. When I sell a few I replace some of my short paper gold. I am simply taking a profit on the premium.
I am left, buying and selling in the older gold (1800's) in the 1800's when i believe upgrades work.
THe issue isn't that I can't sell gold... but rather my prices are not based on cost but replacement value.
That's not the way you originally presented it. You said buyers were on the sidelines. I didn't realize the buyer was you.
I apologize if I was unclear.
AS a seller offering generics, I am receiving counter offers which I can't/unwilling to accept. No margins.
As a buyer, I am unwilling to pay the price for generics, that others are asking, no margins if I resell.
I can't even buy from myself for resale. NO margins.
That part of my business has disappeared.
I'm still finding fresh gold, but it's definitely not easy right now and I am paying up. Fun times!!
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I'm still finding holed gold, some high-priced, some reasonable. Same as when gold was $400 or $1200 or ??. I wish I could find more to buy.
Looks as if I should be selling some of my proof AGE's..... If gold is that hot. Probably going to get hotter in the near future though.... Cheers, RickO
Speaking for myself, The Fear that this gold move could set the way for much higher prices keeps me from selling very much more gold.