Is E-Bay a good place to sell pop-top coins?
keithdagen
Posts: 2,025 ✭
Quoted from a different thread, Wondercoin's comments about a recent sale of a LA-P state quarter in MS-69:
Here is a perfect example though of ebay not being the proper forum to sell a coin like this and/or trying to sell a coin right before tax day!!. The seller netted around $950- $975 after fees. I would have paid well over that amount, if I had been offered the coin privately. Hey- it was still a nice return though on a cost basis of roughly $20 to slab the coin!!
My question is that E-Bay is one of the most widely seen coin venues, and hundreds of people will see this coin. Do astute collectors not care about the availability of coins like this on E-Bay? After all, in this case, there were 445 views of the coin, so it's not like it got overlooked.
Here is a perfect example though of ebay not being the proper forum to sell a coin like this and/or trying to sell a coin right before tax day!!. The seller netted around $950- $975 after fees. I would have paid well over that amount, if I had been offered the coin privately. Hey- it was still a nice return though on a cost basis of roughly $20 to slab the coin!!
My question is that E-Bay is one of the most widely seen coin venues, and hundreds of people will see this coin. Do astute collectors not care about the availability of coins like this on E-Bay? After all, in this case, there were 445 views of the coin, so it's not like it got overlooked.
Keith ™
0
Comments
Anyone know why??
It is often a matter of who the seller is, what the coin is, how it is presented, the timing, the terms, the number of motivated bidders, etc.
I'm sure that more than one of you has witnessed the same coin (or other item) being listed more than once and selling for wide ranging prices. Here is one generalization I am not afraid to make - Ebay is often hit and miss.
<< <i>I think it is inaccurate...... - Ebay is often hit and miss. >>
I couldnt have said it any better myself
I agree with Mark - of course, my comment was SPECIFIC to a certain coin type and to a specific time period. Broad generalizations might be inaccurate or misleading. Heck, I am currently offering a $135,000 coin on ebay and ebay offers many benefits even beyond actually selling a single coin (like meeting prospective customers).
PS: As to a whopping "445" views on a pop top modern running for a week on ebay, for comparision purposes my "Schoolgirl" auction currently running now has "1,046" views after 3 days. Not sure "445" views suggests that much?
My suggestion as to 445 views was that it allowed for enough people to see the coin and establish a FAIR market price. Can't speak as to timing, but several other MS-69 state quarters have gone unbid in the last couple of weeks at higher opening prices.
Yesterday on ebay a pop 7/0 1955(d) Lincoln in PCGS-MS67RD sold for around $2500. IMHO, if the coin were in the last Heritage sale or perhaps even the next one, the coin would have fetched even more (for example, a pop 15/0 Lincoln recently commanded over $5,000 at a recent Heritage sale and I am speaking about a coin which is also in the 1934-1958 subset - "apples to apples"). I also chose to sell off a PCGS-PR70DCAM $50 Gold Eagle on ebay (beautiful scans - the "whole 9 yards") which commanded just short of $6700. I understand the coin then found a home for "five figures". And, of course, one could come up with "stupid" prices paid for moderns on ebay - BUT, I have personally tended to see that happen on VERY, VERY LOW POP MODERNS more often than for pop 15/0 coins for example.
In any event, of course, that SPECIFIC state quarter did not fare well on ebay - I personally recently bought the same coin, same grade, same holder from a board member for well over the final auction price. Moreover, I have NEVER seen Datentype pursue ANY ultra modern coin he is currently producing like he did for this coin. Why? Simple - IT WAS GOING TOO CHEAP IN HIS OPINION
Wondercoin
Keith: Did you miss the ebay auction a week or so ago where Datentype (the winner of this auction at $1001) sold this exact coin (LA(p) in PCGS-MS69) for around $1750?
No, nor did I miss Datentype's similar coin going unbid three days after his first sale at an opening bid of $1499, nor two different listings of Ohio quarters in MS-69 going unbid at openings of $1699 and $1590 in a similar time span.
Wondercoin
No, I guess that I'm missing it. Was Jay's coin not an ACTUAL E-BAY SALE? Why the $750 drop in market value in 10 days. Inquiring minds want to know.
Does this mean that demand for these coins aren't as strong, evidenced by bidders not paying the current asking prices, or paying significantly lower prices when there is no reserve? Or could this mean that populations have increased significantly enough that the actual market value has dropped.
Wondercoin
Russ, NCNE
<< <i>Keith: Those are all good questions - all I can tell you now is that the asking prices to me on some other 2002 MS69 state quarter coins are above that level at this time. And, I have NO REGRETS WHATSOEVER about paying a forum member well over the ebay sale price for his MS69 quarters shortly before that auction. But, don't think for a minute that the forum member is not reading this AND I WILL REMIND HIM OF THIS SITUATION THE NEXT TIME I BUY A MODERN DEAL FROM HIM AND ASK FOR A SMALL DISCOUNT
Do you still have this coin in your inventory or have you already placed it?
I still have plenty of state quarter inventory, including a nice selection of 2002 MS69 coins. Again, maybe I can go back to the Forum Member today that sold me a few before that auction and beg for a discount because of what happened in that last ebay auction.
Wondercoin
These type of coins always go through the same cycle. PCGS grades a few and they go for the moon. Then they grade more and prices drastically drop. Then they grade more and they go down more. I think the 2002- P mint quarters in MS-69 will follow this cycle.
Jay: Although I think it would be fun to have a difference of opinion with you, I am not really sure we do:
1. I pointed out yesterday that the seller of the MS69 (with a cost basis of maybe $20) would probably be very happy with pocketing $1000 for the coin. You are.
2. I pointed out that I would have paid more for the coin at any time before that ebay auction closed yesterday and I would have AND DID recently.
3. I was interested in buying other LA MS69 coins (as well as all other MS69 state quarters) even after the auction closed, but, not at your best price level of $1200/coin, which was my quote last night.
4. Today you are at $1000 coin for these LA coins. At a $20/coin cost basis, I totally understand your logic and don't disagree with your strategy at all.
We have -0- difference of opinion - really
Next time tell the whole story about the price without making me look bad by just telling half the story.
Mitch,
I can see the direction this is going and I don't want bad feelings about this. We've done enough business together and I've been very happy with our transactions. I say we let this one go and start fresh on the next deal.
Wondercoin
PS: Agreed - there is nothing more to discuss - UNLESS YOUR DEAL ON THE TN FALLS THROUGH
PSS: I just reread your PM to me and your proposal did speak of the 7 coins being offered together - so assuming the TN was already spoken for, I guess there was really no deal on the table anyway, since there was no set price on the 6 coins without TN. Now, we really have nothing we disagree on!!!!
AND YOU ARE ONE THE "GOOD GUY" SELLERS ON EBAY!!!