Why offer a return privilege on coins sold on ebay?
mr1931S
Posts: 6,246 ✭✭✭✭✭
Why not provide unretouched, decent images for your potential ebay buyers to look at and offer to buy the coin back from the lucky buyer at a decent percentage of the price it was sold at?
With mailing costs and ebay fees being so high (and so difficult and time consuming to recover from ebay if the deal goes "bad") it seems to me to be very unwise for a seller to offer a blanket return privilege on all coins sold on ebay, especially raw coins, to any potential buyer.
A LEGITIMATE dealer, dabbler, major or otherwise, should be able to stand behind his or her, what he or she knows to be, accurately represented and graded merchandise to the extent of being willing to buy back at least SOME of the items he or she has sold on the ebay venue? Would that not be a "return privilege" of sorts?
I don't know everything there is to know, far from it, about selling coins successfully and am not attempting to answer my own question for you all in this thread but I invite your comments.
"Why offer a return privilege on coins sold on ebay?"
With mailing costs and ebay fees being so high (and so difficult and time consuming to recover from ebay if the deal goes "bad") it seems to me to be very unwise for a seller to offer a blanket return privilege on all coins sold on ebay, especially raw coins, to any potential buyer.
A LEGITIMATE dealer, dabbler, major or otherwise, should be able to stand behind his or her, what he or she knows to be, accurately represented and graded merchandise to the extent of being willing to buy back at least SOME of the items he or she has sold on the ebay venue? Would that not be a "return privilege" of sorts?
I don't know everything there is to know, far from it, about selling coins successfully and am not attempting to answer my own question for you all in this thread but I invite your comments.
"Why offer a return privilege on coins sold on ebay?"
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
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Comments
Images don't tell the whole story. No matter how many images you give. And, besides, who wants to provide multiple images which often times seemingly tell different stories (especially to people who don't know about all of the variables that affect image production)
Sometimes the buyer runs into money troubles before the coin is delivered and rather than force him into accusing you of giving bogus images and threatening to neg you, you just give him a decent way out.
It gives buyers confidence. They want to be able to see the in hand coin before they hammer the deal.
Also, I believe that all ANA dealers must offer a return policy.
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
Sometimes the buyer runs into money troubles before the coin is delivered and rather than force him into accusing you of giving bogus images and threatening to neg you, you just give him a decent way out.
It gives buyers confidence. They want to be able to see the in hand coin before they hammer the deal.">>
I could say the same about Heritage Signature sales yet they [and others on the bored here] say that auctions ARE NOT approval services.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
I would only give a return offer on raw coinage not slabbed.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
No return, no bid.
Tom
With all due respect, Dorkgirl, you have confused me.
It's called "spread." The coin is worth $40 to me to get it back.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
<< <i>"Why offer a return privilege on coins sold on ebay?"
It gives buyers confidence. >>
no more needs to be said.............
"NOT AN APPROVAL SERVICE." I like that.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
Restocking fee...That line cracks me up. I can see it now. The forklifts running the coins around the warehouse putting them back on the shelves. Cracks me up!
<< <i>Along with feedback perhaps eBay should start keeping a record of returns too. >>
Now there is an idea I like!!!...
What is wrong with a seller offering to "buy back," however?
I bought a coin recently from my favorite local dealer for $250. I asked," how much will you give me for it if I bring it back to you for sale?" I was told, " I will give you $200 for it." Sounds reasonable to me.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
By contrast, if a bidder uses “buy it now” then it might fall more into the realm of “purchase” which should come with a return privilege. Obviously, if the coin is grossly misrepresented in description then a return privilege should apply as a matter of good customer service.
Honest descriptions go a long way when I buy a coin sight unseen. If the description was flaky I would expect a return to be extended. This has happened only once and it was from a Major Coin Dealer.
Ken
quality coins and provide accurate photos and descriptions, noting any
problems.
I've had a less than 1% return rate, and feel that a liberal return policy will
inspire repeat sales, confidence in bidding, and subsequently higher final prices
overall.
I would take exception if I felt that an idividual were simply trying to cherrypick,
looking only for coins with a shot at upgrading and returning everything else, but
to date this has not been a problem I've encountered.
Ken
Right on the money, Bajjer. Fairly is the key word. I propose building buyer confidence the old-fashioned way, "Treat me fairly and I'll treat you fairly."
Its my coin until you buy it for what I want for it. Its my auction for which I'm paying ebay handsomely to conduct. Don't like the coin or coins? Decided that you've paid too much? Won't be able to send coin off to third party service and get it upgraded?
NOT AN APPROVAL SERVICE. I still like that.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
<< <i>I would take exception if I felt that an idividual were simply trying to cherrypick,
looking only for coins with a shot at upgrading and returning everything else, but
to date this has not been a problem I've encountered. >>
This is exactly why No Stated Return is in the sales that are done. A person can always find something wrong with any item no matter what the item may be.
If something was put into the auction along the line of this is the "BEST" coin you will ever see then a return would have to be extended. Just selling a solid for the grade coin does not warrant a return IMO.
Ken
<< <i>Is this is your auction----1907 Barber Dime--? >>
mr1874
I would never bid or bin on that auction. All you have provided is a low resolution ebay pics image and you admit that the obverse image is not representative of the actual coin. And now you want me to pay you to return it even though you have told me that the picture does not look like the coin. Bid?.......not a chance.
Paul
Cher-Wood Forest Aviary
POTD - May 26, 2005
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
<< <i>Just curious if anyone has ever had any problems with someone trying to return a coin that was not actually the coin purchased. My mom deals in high end art pottery and glassware, and has had someone return an item that was not the item she sold.......came back chipped in two places. It definately didn't get they way during shipping. >>
If buyer returns an item other than the one purchased or the item is damaged upon receipt to the seller than "NO REFUND" is in order. End of story!!
I know what the price guides say. Sometimes I throw the guide away when my own experience shows that some coins are listed in the guides at unrealistic low prices.
I'd buy this coin "all day" for $35.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
<< <i> I'm not sure, but does Heritage, B&M, Stacks or the other big auction houses offer a blanket return privilege in their auctions? I’d be surprised if they did. >>
Heritage offers a limited return policy on some auctions and I think a really limited return policy on signature auctions.
<< <i>TJKillian sums it up with "No Return, No Bid". Most E-Bay buyers feel this way and to maximize your bids/sale price a refund policy is necessary. The seller will come out better in the long run. >>
Wow that is a pretty broad statement. It looks like most Ebay buyers are missing some very nice coins and other items. I can see where maybe a person might get a few more bids but I am sure most Ebay people do not stay away because of a Non Stated return policy.
Maybe I'm wrong.
Ken
I haven't had to deal with any returns yet.
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From my limited, dabbling as an ebay coin seller perspective, I'm comfortable with a "No Return, No Bid" buyer policy.
I do know that decent pictures help make a sale, though. If I couldn't provide pictures I would have to revisit my "no return for refund" policy.
I had made an auction for a "1905 micro 'o'" dime but decided not to offer because I have to ask "way too much" for it. Hell, my "buy back" was over twice what the retail guides say. Some people might have heart failure if I'd proceeded with this particular auction.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
Cause if you don't like my coin then I don't want you to have it.
I do use decent pictures and my description sounds like I'm bashing my own coin like I do coins posted on this board but it's not like I'm a dealer wholesaling generic MS 63 1881-S Morgans or bullion where you pretty much know what to expect, people usually pay a prem for my stuff.
Plus it makes the bidders bid more when offered a no ? asked return policy.
Coin switching can be a problem. I'm sure this has happened to sellers on this forum who have offered return privilege. Third party encapsulation has eliminated the possibility of "switching"...for those coins.
But who wants to get into the expense and time involved to encapsulate thirty and forty dollar coins so they can't possibly be switched? No, I'll put the coin in a sealed, archive quality holder and tell the buyer I'll buy the coin back providing it hasn't been removed from the holder as I sent it out. Isn't that fair?
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
There is a reason that eBay has the "ask seller a question" feature!!
USE IT!!
<< <i>"Just curious if anyone has ever had any problems with someone trying to return a coin that was not actually the coin purchased. My mom deals in high end art pottery and glassware, and has had someone return an item that was not the item she sold.......came back chipped in two places. It definately didn't get they way during shipping."
Coin switching can be a problem. I'm sure this has happened to sellers on this forum who have offered return privilege. Third party encapsulation has eliminated the possibility of "switching"...for those coins.
But who wants to get into the expense and time involved to encapsulate thirty and forty dollar coins so they can't possibly be switched? No, I'll put the coin in a sealed, archive quality holder and tell the buyer I'll buy the coin back providing it hasn't been removed from the holder as I sent it out. Isn't that fair? >>
I figured coin switching could be a problem if you are selling raw coins........thanks!
Cher-Wood Forest Aviary
POTD - May 26, 2005
I like that statement. How about,
"If you don't like my price, don't buy."
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
There is a reason that eBay has the ask seller a question feature!!
USE IT!!
It's surprising how little this feature is used by buyers. I check my email on a regular basis to field questions. One thing I will not do, however, is to email additional pictures to an individual. Sometimes I will post new pictures in my auction while it is running.
I really need to make a new picture of the front of that dime...
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
Why offer a return privilege on coins sold on ebay?
It's just business commonsense. If you are in the business of buying and selling coins, and you want repeat business (aka customer loyalty), then you want every buyer to be 100% satisfied with his/her purchase. Does it cost the seller money to have a return privilege? Absolutely! But that's the cost of doing business. You have to look at the big picture and not each transaction. Not having a return privilege is "short term smart" and "long term stupid", as you will lose customers over time.
We have always offered an unconditional 10 day return privilege for all items sold on eBay. We also pay for the return shipping and insurance, so that the buyer is out nothing other than his/her time. Furthermore, we often extend the 10 day period to 45 days on expensive coins to allow the coin to be submitted for grading, even though we have no control over the opinions of the grading companies. On coins that we sell through the mail or at coin shows, we offer a 100% return privilege for an unlimited time frame. A buyer contacted us recently about a bust half that we sold him over a year ago. We graded it VF-20, but ANACS called it F-15. He asked about our guarantee. I offered him 105% (a 5% profit) on every coin that he had purchased from us (over $5000 worth). He decided to keep all of the coins because he liked them.
Our eBay auctions - TRUE auctions: start at $0.01, no reserve, 30 day unconditional return privilege & free shipping!
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
Coincidentally, we have had very few returns. But I have considered the fact that eventually someone will abuse our policy. If that happens then I would try to rationalize with the customer and explain my position. If he/she doesn't seem to get it, then I would avoid doing business with them, but in a tactful manner.
Our eBay auctions - TRUE auctions: start at $0.01, no reserve, 30 day unconditional return privilege & free shipping!
that is easy to do business with!
If I've satisfactorily bought ten coins from a dealer, and then that next one
just doesn't do it for me for some reason, I would expect to be able to return
it without hassle and have them cheerfully take it back. That's the kind of
dealer that would get my continued business through the years.
Ken