Considering eBay-Your Advice, Please

lablover

I've considered using eBay to auction some extra coins. Any advice you have is appreciated. Would you sign-up to accept PayPal? Why do some use PayPal but don't permit credit cards only debit accounts? At most I would have 10-15 coins a month, maybe. Prices may vary widely.
Thanks in advance to all for the guidance. I'm getting ready to watch two "chick flicks" with my wife
(it's her night) so I'll be awhile replying to anyone who reply's. Don't be offended if it takes awhile to say "thank you".

Thanks

Russ

<< <i>Would you sign-up to accept PayPal? >>



Since your plan is to sell regularly, yes it's a good idea to setup a PayPal account.



<< <i>Why do some use PayPal but don't permit credit cards only debit accounts? >>



The main reason is that in order to accept credit cards one must have a premiere or business account. With those account types, PayPal levies fees on all transactions, not just credit card payments. With a personal account, there are no fees.

Russ, NCNE

redcents

You might consider letting somone else do all the work for you that has a high level of feedback.

TAP444

You could also list them on the BST board for members

JohnZ

Ebay is a world unto itself, with a great deal to learn about. Definitely use PayPal. I've never had any bad experiences with them. Make sure to factor in all of your overhead: auction lising fees, eBay's commission, shipping and handling, etc. Start your auctions at a price that covers your overhead plus the value of the coin. Don't start your auctions at one cent with a reserve. Most buyers just find that annoying. The best time to have your auctions end is on Sunday about 9 or 10 PM PST. Most eBay buying goes on during the weekends. Make sure you have a good photo of the coin. No photo, no sale. Watch your bidders' feedback profiles. Read the feedback. Don't sell to buyers with bad feedback. Don't sell anything to the French. My experience: 20 auctions to persons living in France, three payers!!! Which reminds me, if you sell internationally, you will have to fill out customs forms at the PO. No big deal, though, but make sure your S&H covers the cost. That's only the tip of the iceberg.

presleyh

Remember all the fees involved. If you have 10 bucks in a coin and it sells for 12 you really haven't made any profit.
The secret to success on Ebay is to have very little cost in an item and hope somebody wants it. I would watch the coin auctions for the particular coins you want to sell for a while and see what range they normally sell in.
One thing I have noticed lately is that the selling prices are fairly consistent on particular coins. pcgs graded coins always command a higher price than the same coin in a pci or segs holder. (as well they should). Use the search function and type in the coin and date. Ex 1967 Kennedy. You will see a range of 67 Kennedy halves from raw at 2.00 to pcgs ms 67 at over $600.00. See where your coin would fit in. Give an honest description and a real good picture with fair shipping charges.

lablover

<< <i>You could also list them on the BST board for members >>



TAP444: Already list on the BST. So, you want to buy?
I would most likely offer to board members first and than go to eBay.

lablover

To all:
Thanks for the input. I appreciate your insight and willingness to share.

jdimmick

Basically what the others have said, but in lamons terms

Dont waste time putting on typical everyday coins that are a dime a dozen. There are so many of these on any given day, that the chances that yours stands out above the rest is miniscule. The wasted time and e-bay fee's will kill you on common every day junk.

Put on the stuff that people want and are looking for. Good type stuff, Key-dates, Slabbed moderns, and especially PCGS, NGC stuff sells the best.

As said, Photo's are the key to stronger bids!


Pay-pal will help, but I cant help you much with that, because I have never signed up with it myself! When I buy a coin from a seller, I just send Postal Mo's, and when selling I take checks, and Mo's

Bikingnut

I think having a good camera that takes sharp closeups is a big benefit. As a buyer, I like to see what I'm getting.

ursabear

Lablover,

I take a good look at existing and near-past listings of a given thing I am about to sell, then I can set my expectations of if I can start it low and safely sell at a reasonable price, or if I need to start at a higher price to protect my lowest acceptible price. Don't be afraid to re-list if something doesn't sell that is reasonably priced.

Establish a nice simple page in which to do your listings and include pictures if you can.

There are some nuances as to price of listing and final value fees... the lower your start price, the lower the listing fee ( and more risk, too).

If ever I can help you, or if you need to ask questions, please PM or email me. I would certainly be most happy to help.

Jimmy Bear

Dog97

I use PayPal.
I accept PayPal, money orders and personal checks when I see stuff. You can pay me with a credit card too. I figure the more options I offer the easier it is to get the $$ in to my sweaty little hands. I don't want to make it difficult for somebody to give me their hard earned $$.
I use the PayPal "Pay Now" links in my auctions so the buyers don't have to do it manually. Manually is a big pain.
I have the eBay "Checkout" feature turned off in my auctions. Cuts down on useless emails.
I use PayPal automatic buyer notifications to tell the buyers they won my auction, how much they owe, & how to pay me in case they'd rather send check or mo. I only do 10-15 auctions @ a time & even those confuses the hell out of me trying to keep track of who bought what.
I have an "unconfirmed address" where I live and get my coins shipped to.
I also have a "confirmed address" for those sellers who won't ship to "unconfirmed addresses" but I don't live there. It's my other house & I only go there once a week to pick up bills & junk mail there.
I don't care if my buyers are "confirmed address" or not.
I don't use any other features from their site.
I don't like the fees but the other features I use makes it worthwhile to me.
I don't like the fact that a fraudulant buyer can do a backcharge and PayPal can snatch the $$ out of my checking account without explaination.
I got the Money Market & debit card with "cash back." Even though it only adds up to like 3% at least I'm getting a little something back out of it.
I've never had a problem with PayPal but a guy I sold something to had a problem with HIS and it delayed the deal for about 3 weeks.

BAJJERFAN

I guess you should first decide if you need to sell for a profit or just want to get your $$$ back. If its the latter than profit is icing on the cake. Another strategy is to email the second and third highest bidders in an auction where an item that you have is being sold. Of course you want to wait till the auction ends and also it is easier if you selling price would be less than their bids.

lablover

Thank you everyone for the insight.

goose3

IF you do sign up with paypal do like I did.

I went to my bank and opened a separate checking account with 5.00 in it and I use it SOLELY for paypal and for their verication/confirmation thing. That way if they ever mess with me, they will freeze an account that I do NOT use.

ldhair

I did the same as goose3.

Didn't care much for Paypal having my main bank account.

lablover

<< <i>I went to my bank and opened a separate checking account with 5.00 in it and I use it SOLELY for paypal and for their verication/confirmation thing. That way if they ever mess with me, they will freeze an account that I do NOT use. >>



Already opened a separate account. It's good advise!!! Thanks

Russ

Yep, separate checking account for me also. If PayPal decides they need some extra cashflow, they won't be getting much from me.

Russ, NCNE