Winning over a newbie from "Shipwreck effect"
roadrunner
Posts: 28,303 ✭✭✭✭✭
I responded to an auction on ebay concerning a shipwreck effect coin. The price seemed lower than what has been out in the marketplace. I sensed someone bailing out. The first feedback I received from the seller was that there was real value in these things and if I knew anything about the collectibles market that I would understand how a story can add 95% of the value to the item.
While that is true of many collectibles (like a JFK set of gold clubs), it is NOT true for these cleaned silver shipwreck halves. If this were contrary, then the sellers would be informing the buyers that if the coins stood alone they would be worth 5% of the package. How many buyers would follow through if they knew that? Maybe 1%.
Let's require that shipwreck silver be annotated with that disclaimer.
Truth in advertising.
After a few emails the seller confided that he was young and new to the coin game and realized that his money could go further elsewhere....a nice way to state it. I suggested he come to the forum to help him navigate around the scams and schemes so prevalent in the open market. I hope to see him here in the near future.
roadrunner
While that is true of many collectibles (like a JFK set of gold clubs), it is NOT true for these cleaned silver shipwreck halves. If this were contrary, then the sellers would be informing the buyers that if the coins stood alone they would be worth 5% of the package. How many buyers would follow through if they knew that? Maybe 1%.
Let's require that shipwreck silver be annotated with that disclaimer.
Truth in advertising.
After a few emails the seller confided that he was young and new to the coin game and realized that his money could go further elsewhere....a nice way to state it. I suggested he come to the forum to help him navigate around the scams and schemes so prevalent in the open market. I hope to see him here in the near future.
roadrunner
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