Advice On Pricing ***UPDATED***

CoinManiac527

linky

First of all, I want to start this off with a disclaimer. While this might seem like a cheap way to advertise my coin, I honestly am not trying to do so. I am not trying to solicit buyers, only advice on how to sell something. If you are not trusting enough to believe that, don't read on.

Anyways, I have a coin that I am going to sell on eBay, but I am not sure what I should start the bidding at. I have it up at the BST, but I think eBay will be the best way to sell it. It is an 1882 3CN NGC PF65. I have sold several coins on eBay in the past, but most of it was either junky or had little numismatic value (example: bullion). I'm not sure what the coin will fetch and I'm not sure whether I should start it out really low ($.01) or some where on the way to its end value. Please lend all the advice you have on this topic, so I can earn some money to buy more coins(heehee)!!


Here are some pictures:




Thanks!!!

cherrypickincoin

First off, nice coin. Realistically you're looking at an end price of probably around $375-$400 on eBay. You might be able to sell it for a little more than that in a private transaction if you're lucky. PCGS shows a value of $500. CW Trends has no value listed.

DCAMFranklin

Keep us posted. I would love to bid on the coin. The last time a seller asked for advice about selling a consignment coin, for which I have a lot of knowledge and experience, I provided my expectation of price only to have the king of attack jerks, Russ, attack my price, so I certainly don't want to risk subjecting you to any slamming attacks. It is a beautiful coin. Good luck!

LucyBop

hmmmmm..... just have a give-away!

CoinManiac527

Lol, sorry LucyBop, no giveaways today!!

TommyB

Start it at one dollar, notify the BST board that it is your first auction and ask them what they think (what the hell, this board too!). Before you even know it it will be up to 350 and others will take it from there. People on these boards are really nice in that way.

Tom

LucyBop

Darn it, I was thinking of giving away my pcgs ms65fbl 1953s..... oh well....

relayer

List it for what you want to sell it for.

Robgetty

Your listing fees will be the lowest if you start it out cheap as opposed to a few hundred.
If you are worried about not getting your price, then you can put a reserve in, but then
you are paying more again, and might as well just start at the price you want. Hey, it is
an auction, so if you want the best fees, you take more risk.

Myqqy

Lucy,

I'm thinking that I could be happy with that beautiful 1953-S FBL Franklin of yours, if you feel the need to have
another giveaway! It's not worth that much, right?

Myqqy

CoinManiac527

Hey, its only a half dollar.. it couldn't be more than fifty cents!!

Now back to my coin....

northcoin

I've noticed a lot more of what appears to be shill bidding since ebay started upping its fees on reserve auctions. Forgetting the penalty for ebay fees I would have suggested starting at a price 50% less than your reserve and also including a "buy it now price" 25% over your reserve. This assumes your reserve price is based on your cost or something less if you know you overpaid for it. otherwise if you want to gamble then go ahead and start with the one cent, no reserve auction and for entertainment make up a story that is so ridiculous no one will take it seriously. Make sure there is something about your grandfather in the story, a sealed chest in an attic, and historical records which unfortunately got burned in a fire that otherwise would have proven that Virgil Brand once resided in the place.l

greghansen

Cherrypickincoin was right on in the likely final price range. As far as selling strategy on a near commodity type con like this, I'd be comfortable starting the auction @$.01 and setting a reserve of $370 or so. If the coin doesn't sell, you'll pay the 1% reserve auction fee, but if it does (which is more likely) you'll have saved 3 to 4 bucks in EBAY fees.

ursabear

I seriously wish I could help you on a starting price figure, but the coin is out of my league.

However, I have two suggestions that would apply here, drawn from my own experience.

First, end the auction at night at a time when both the East coast and the West coast of the US might be online. This tends to be 10-11 PM ET. Also, Sunday nights seem to be the best end day, followed closely by Saturday night (for coins, that is, other items have different "sweet spots").

Second, step through the eBay auction creation process (all the way to the fifth screen) WITHOUT actually committing the auction. You can go back and forth between the options, start price, reserve price, etc. and see how it affects your listing fees. This can help you see what the actual end cost (sans the final value fee) of your auction will be. Sometimes, it really makes or breaks starting $1.00 with no reserve vs. $299 with no reserve or .01 with a reserve.

I hope this helps in some way.

291fifth

Strongly advise that you don't use a reserve. An increasing number of eBay bidders, myself included, are refusing to bid on coin auctions with reserves as it is usually a dead give-away that the seller wants full retail. You can set a high starting price but no one may bid. Frankly, your coin is not likely to generate a bidding frenzy.

airplanenut

Only use a reserve if you reveal it clearly... I normally pass on reserve auctions since they are merely a guessing game.

Jeremy

Wolfy00002

I have to agree with the advice given so far. This is pretty much how I sell, and it seems to work pretty well for me, and I usually get what I'm expecting.

Like Ursabear said, try to pick a time when both coasts are online to end your auction. I also feel that Saturday or Sunday nights are the best nights, but I end mine a little later than most, normally around 2:00a.m. est, or 11:00p.m. pst. I've had pretty good luck with that.

Like Jeremy, and 291fifth said, less and less people are bidding on auctions with reserve's, because generally they hate sitting there trying to guess what it is set at. I personally do reserves a little different that some, I list my reserve at about 75% of what I expect for an item, and in nice bold, colored text, at the very beginning of the auction, I tell what the reserve is set for to try to keep anybody intersted from having to guess.

I have noticed that generally, people usually bid close to market value on slabbed coins. Alot of snipes will come out just trying to save a little off of sheet value. Everynow and then you will get some deals, and no you probably won't get list, but ebay seems to me to becoming just another huge dealer, because all of the slabs are getting so close to asking prices.

I honestly think that even if you start your coin at $1.00 or even $.01, you will still get pretty close to the asking price you want anyway.

Just my opinion, Good luck!
-David

CoinManiac527

Thanks all for the good advice. From listening to all that, here's what I'm going to do. Start it off at one penny with no reserve. Not to many 'good deals' really come off of eBay, so I'm sure it will reach market value. As for the starting time, I will list it tonight at 7:30 PST. Are you guys sure that people on the east coast will still be looking then?

CoinManiac527

I have used all of your advice in making the auction, thanks! Since some of you wanted to see how it played out and Tommy B said "notify the BST board that it is your first auction and ask them what they think (what the hell, this board too!)" (hehe), here is the linklink to the coin .

Wish me good luck!

Blade

CoinManiac - I threw a bid out there to get you started. I hope you get full sheet. Good luck!

ursabear

Good luck!!!!!

Oldtrader3

I would put a posted Reserve on this coin, simply because it is a series that is traded thinly and may not generate a lot of bidding competition. IMHO it should be reserved at 10% back of Grey Sheet.