The struggles of an eBay dealer
DCW
Posts: 7,531 ✭✭✭✭✭
This has been some week for me on eBay! After 25 years on this venue, I've had:
1. My first return on an accurately described item, which ended up costing me over $20 in shipping on a $100 item.
2. A private messages spat from a well known eBay moron who buys tokens and medals off eBay and immediately relists them on eBay for 5-10x the price he just paid. This guy is special 
Always looking for a sucker. Wouldn't have irked me so much if he didn't list my $100 medal for $500 before I even shipped it to him while stealing my own photos for his listing! Inexplicably, this guy had the audacity to block me as a buyer while actively buying from me. I didn't think that was even possible. Canceled the order, reciprocal block 🚫
3. Had a buyer get an item on the cheap so decided to ask for an even better deal via reduced shipping. Costs me $6 to ship ground advantage, buyer wants me to absorb it. He would have been happier paying more for the item and less for the shipping! 😆
4. Finally, I did my taxes and spent about 3 hours trifling through eBay's 1099-k for a lousy $162 profit. I get a 1099-k for selling 10 items on eBay in 2024.
There's got to be a an easier way 😌
Rant over
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Comments
I don't bother to sell on eBay any longer. It all goes to GC.
WS
Yep.... so it goes!
Same for me. GC makes it so darn easy, and the results have really improved the last 5+ years, at least for what I’ve sold. Way more eyeballs in GC these days.
Dave
Sorry to hear of the troubles. Unfortunately this happens and for those of us who sell sparingly on eBay, the problems are even more magnified given there is no volume to make up for the troubles.
The recommendations for GC are solid but certain things are still best for eBay. Something like a scarce token is still bound to not reach full value (it could do better at a specialized sale at Stacks or Heritage but then one needs to have enough total dollar value for those venues to even take the consignment or offer decent terms).
wow
Top 10 Cal Fractional Type Set
successful BST with Ankurj, BigAl, Bullsitter, CommemKing, DCW(7), Downtown1974, Elmerfusterpuck, Joelewis, Mach1ne, Minuteman810430, Modcrewman, Nankraut, Nederveit2, Philographer(5), Realgator, Silverpop, SurfinxHI, TomB and Yorkshireman(3)
Well said @DCW
boston
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
You have to roll with the punches; it goes with the territory....
How is this topic related to US Coins? 🤪
A lot of eBay lookers/"buyers" don't seem to appreciate the fact that the "bargain" is the OPPORTUNITY to buy an offered problem free vintage coin that is not available everywhere.
For a low commission, I’m happy to do all the work and handle your eBay sales. That said, I retain the rights to content for posts about idiot buyers.
Yikes—it’s been quite a week for you!
The guy in #2 sounds like a real gem.
Pertaining to #3, I will never understand how some people get so hung up on shipping. If they’re looking at vintage items, $20 with free shipping is the same thing as $2 with $18 shipping.
You sellers are way out of my league.
Such is life, it keeps on going...
How could 10 items take 3 hours?
I was wondering when you were going to show up @jmlanzaf
Ebay rant is like the bat signal to you 😆
It wasn't the number of items, just finding all the dates of purchase and exact amount I paid and inputting into turbotax, and of course it didn't match what eBay had so the software kept kicking my return back to review
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Maybe the numismatic part of eBay will dry up and blow away. I wouldn’t miss it.
Even if it did, the Chinese counterfeit wing would still be there. I view that as criminal, not numismatic.
Another thing I've noticed about eBay is this:
With the "saved sellers" feature, It becomes more of a venue to just check in on your dealers. The browsing and search feature I have to imagine is waning. I sometimes list things at a fraction of the price of what a big dealer has. Often, I bought the very same piece from one of those big dealers. And I may not even have 10 views the entire auction! Meanwhile, the guy with 700 followers has 50 bids on the same piece.
Frustrating, but I'm guilty of it too. Check in on my dealers' latest items and split.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
I would most definitely miss it. My favorite part of collecting is browsing thousands of raw coins and cherry-picking varieties. There really isn’t another venue that allows for this the way eBay does.
I am glad it's been fun for you. I have no fun on eBay, only disappointment. The snipping there, which you lose a lot for a few cents is ridiculous. It shows no respect for their customers.
As a buyer, I think eBay is just a microcosm of the world we live in. Some folks are awesome, and some are awful. I find trash - and treasure.
For my capped bust half dimes from the last 5 years, here are some stats:
I've bought 61 coins off eBay. I sold 21 of those - and made a profit of 12.8% on those sales (even after including grading, attribution, and CAC submission costs for some). I generally acquire through BIN (buy-it-now) so I don't have the sniping problem that @BillJones laments.
Of the 40 half dimes I've kept (either as primary set pieces in my big set, or as interesting dupes): 2 are R7 (Rarity 7, estimated 4-12 extant), 6 are R6 (est. 13-30), 7 are R5 (est. 31-75), and the rest are R4 and below. Average grade of those 40 coins is 42.83, which is much lower than my set average - indicating that the rarities and "interesting dupes" with cracks or cuds are often lower grade. But I still treasure them!
Net net: as a buyer, I value eBay and find it a fascinating place to cherrypick. But as a seller, I prefer other venues, as eBay seems to take a big bite and overcomplicate the rules and regs while doing so.
Capped Bust Half Dime registry set: Bikergeek CBHD LM Set
As a buyer, I still like eBay but, as a seller, it seems as though GC is easier and more cost effective. One must certainly be careful to mind against purchasing counterfeits on the ‘Bay, as it’s not regulated as it should be.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Great post, Sean. I agree wholeheartedly. I keep a grouping of coins on ebay and sell a few each month, all BIN. The majority of coins I sell are thru GC, at least for the last 3 years. I learned right away that Ian gives a crap about his customers and I can personally vouch for the extremes he has went to for me and didn't know me from Adam. So GC gets the majority of my sales.
As to ebay, it certainly has its limitations, mostly due to its greed, which may or not become it's downfall. I'll probably never know. But like @Bikergeek I love to sift through the half dimes, half cents, dimes looking for rarities and hard to get die states. While not as proficient as Sean and Clad, I have garnered two R-7's, quite a few R-6's and R-5's and the rest R-4s. Yes, I even have R1, R2 and R3 coins, especially for interesting features such as die cracks or die states hard to find even when not a great rarity. It's all about the fun for me. I guarantee for the last 21 years of buying and selling on ebay I have had a financial loss. But I also did for the 30 years of golfiing, going to the beach, or to the mountains, buying cars. I evididently care more about my life's pleasures than winning awards and I truly thought that was what this forum represented, Collectors of Numismatic Items who sell in order to more frequently purchase is my avenue for the hobby, but then that's just me and whatever your reasons, as long as you support the hobby, fine.
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
Hang in there.
The coin market sales wise is really tough right now. Many bay sellers, desperate for cash flow, dropping prices (intense competition / tough economic outlook). However - Many buying opportunities, some super auction pickoffs for me. Then to retail inventory.
To make it in the coin business it takes good retail buyers to have a decent shot to make it work. On the buy side the hunt for items to buy right can be exciting. On the bourse as far as good margin sales - it’s been a dogfight.
On the bay you know what your fixed overhead and variable selling and shipping costs are going to be and the markup factor it’s going to take to get a decent profit. Setup at a show you don’t know if you will even clear show expenses.
For the bay just markup your material accordingly (decent profit) and stand your ground. Leave yourself some haggle room lol.
My biggest issue with eBay is the tracking system and USPS, not the users.
Tracking system, USPS works fine for me no major problems. Generally it will show item delivered POB but it may take their staff a full day get it there in my box especially a Monday. Other times gets there quicker. Bay purchases easy for me track them. If a bay seller does not provide tracking then that’s it for them - me buying from them in future.
I'm just a buyer at this point in my journey. I don't post much. Most of my collection is via coin shows or eBay. I don't know who GC is. Please provide a link.
He's referring to Great Collections
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
I know exactly who #2 is and I agree he’s a complete tool. He obviously has a right to flip coins but his juiced photos and other questionable methods keep him on my blocked bidder list.
GC is a wonderful company and a great venue for Federal coinage but still isn’t a good place to sell tokens and medals IMO.
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
Given your 25 years, those three ‘lowlights’ seem minor. Sell on!
This is truth! I'd like to amplify this beyond just putting an "Agree" click on it. We react strongly to isolated incidents because I think our brains are wired to do that. But if you take the long view - trends and statistics and whatnot - the general outlook is good!
I see a ton of posts (about the USPS, and about crime against coin dealers) that invariably raise the comments "ah, it's all going to hell in a handbasket!" but the fact is, most USPS packages get delivered, and most coin dealers don't get robbed. We just react strongly to the outliers.
OK, end of rant. In the wise words of the @SeattleSlammer, I would encourage @DCW to "Sell on!"
Capped Bust Half Dime registry set: Bikergeek CBHD LM Set
I feel your pain and I am happy to say I have been eBay free now for over 5 years and I now take my business elsewhere
🇺🇸 Harlequin
harlequinnumismatic@gmail.com
I quit eBay in December after 23 years of selling there. I got tired of the same issues listed above. I’d suggest GC as well. I figured eBay would contact me over not selling anymore, not a peep from them. Last year they got over 10k from my sales. They truly don’t care about sellers or counterfeits. In my searches the quality of material has seen a significant downturn. I suspect many sellers have left due to their policies. Good riddance eBay, you are not missed by this former Power Seller!
I’ve had limited experience as a seller, but I found selling on eBay FAR more hazardous than buying. I agree that GC is way more stress-free.
I also agree that GC is best for US Federal coins. I’m a big fan. More specialized numismatic items need more and perhaps different eyeballs IMO. My executor has been instructed to go to HA with my medals, colonial, and foreign; eBay with my non-numismatic collectibles
I've sold with them very infrequently for many years now, but years ago it also changed the coins I buy.
No interest in low value coins (to me) as a secondary collection. Too much effort to sell, too much potential "slippage", and I'd rather spend it on my primary interest.
The easier way is selling to a dealer at a coin show.
Cash and the deal is done!
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Particularly agree about the paperwork requirements vis-a-vis marketplace facilitators such as eBay. The triggering threshold for a 1099 is much too low. It was much more sane, if there has to be one at all, when it was $10,000 or higher. Now it is $600, and in some parts of the country, now $200 is enough to require an IRS filing.
With declining dollar, now just one single coin sale can trip the reporting requirement, even if the coin is liquidated at a loss when somebody passes away. Hardly worth the effort for the estate, small time collector, or even medium level dealer.
This is not an eBay problem, it is a politician problem. Why did you vote for those people?
Not so fast…three gold eagles bought or sold at a show exposes you to felony jail time if you fail to report to IRS.
The IRS threshold is $2,500 in gross payments for payments made in 2025.
Dave
Still depends on where you live. Because I live in New Jersey, I got a 1099-k for $1490 in gross payments from eBay in 2024.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Agreed, I sell mostly on GC but his stuff doesn't really seem to fit GC items overall.
Great time to weed out your collections and sell those coins that have significantly declined in value.
FWIW - I started looking at the feedback left to sellers by a potential buyer of my items .
All my items are BIN with a make a best offer . Before i accept an offer i look into the feedback left by the prospective buyer to other sellers.
You would be surprised at how much feedback abuse goes on .
It has worked VERY GOOD for me . I have blocked maybe 15 likely problem buyers . Most have been with Forwarding addresses in FL since i sell some foreign coins as well as U.S.
eBay seems to send out a 1099 for everything. Like us, we have a hard time deciding what IRS will do. They say what the actual threshold is going to be too late inthe year for sellers to be able to plan for it. But this year there is a line on form A that seems to allow ignoring personal items sold at a loss. So hopefully put the 1099 amount, whatever it is, on that line and fergeddaboutid.
Rebooting my Ebay store in August after my move to the Atlanta suburbs.
Going to do less with coins and sell other items.
Any cash flow from my mountain of junk and my mother's estate, I will sink into coins and travel to shows.
Being retired and driving rideshare should give me interesting opportunities and surplus income to focus on collecting.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
OP: "4. Finally, I did my taxes and spent about 3 hours trifling through eBay's 1099-k for a lousy $162 profit. I get a 1099-k for selling 10 items on eBay in 2024." Tiny, Infinitesimal seller. Many sellers do that much every day and more.
Tiny, Infinitesimal seller. Many sellers do that much every day and more.
That was my point, but did you need to call me "tiny?" 😆
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Lots of weenie coin lookers on eBay who aren't real buyers.
What's baffling is an offer is sent to an "interested buyer" who doesn't respond and another person buys the listing as is - no counteroffer.