ebay and coin sales
darktone
Posts: 8,437 ✭✭✭
Is it just me or is everyone that sells coins on ebay getting more offers to sell listed coins off of ebay at cheaper prices than they are listed for? Also after my auctions that don't sell end I get several offers to buy at the opening price- what's up with this? why don't they just bid? Out of the 20 coins I listed last week ten sold and so far I have recieved 13 offers to buy outside of ebay on the unsold stuff for less money than I was asking or the low opening bid amount. mike
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The minimum bid questions are usually someone who was watching the item, but simply failed to see it the last day. They assumed it would go for a higher price and just kind of ignored it. Now that they see it didn't sell, bingo, they want it for the opening bid price.
Here is a scenario:
You list coin for $100 and it doesn't sell. Buyer is willing to pay $68, but not $100. You relist the coin for $50 and it ends up selling for $79. That original buyer was hoping to buy it direct ($68)with no competition. Not a real ethical way of doing business.
My Ebay Sales
<< <i>If your lots aren't selling it indicates that your "low opening bid" isn't perceived as being low. It may also indicate a softening in the coin market. >>
If they will buy it for the opening bid after the sale why don't they want to bid the opening amount during the sale?
<< <i>If they will buy it for the opening bid after the sale why don't they want to bid the opening amount during the sale? >>
Because if they bid then someone else might bid too forcing them to pay even more if they want it. They are saving you money on final value fees and relisting fees by offering to buy off eBay. Your first bid basically says thats the minimum you will sell the coin for. If you can get that or close to that then what does it matter if it sells on or off eBay. You don't owe them a final value fee any more than they owe you a guaranteed sale.
Now if you were listing solely for the purpose of generating off-eBay sales that would be another story.
The other person's only risk in this approach is that the item could be sold out from under him or that you would report him.
Also its possible that they don't know how to set up a snipe for the opening bid amount.
42/92
<< <i>Only thing it saves you is Final Value Fees... relisting an item that doesn't sell is free, unlike several informed here seem to think. >>
Wrongo!! If you relist an item and it doesn't sell the second time you get whacked for listing fees. I know cuz it just happened to me. I believe the listing fees are refunded if it does sell.
Why should a seller care if it sells on OR off eBay really?
My Ebay Sales
<< <i>Why should a seller care if it sells on OR off eBay really? >>
Off eBay means not paying the FVF.
wally
Be extremely cautious of the off-ebay offers, these could very likely be a scam to rip you off.
This really only makes sense for hi-Dollar items. Say someone lists a coin you want for $2000, and you think it's a bit "pricey". You wait for the auction to end (thus taking the risk that it will be "sniped" at the last moment) and then offer $1950. Usually "it's a deal" because the seller would have had to pav Ebay around $50 in commission if it sold on Ebay, so it's a "wash" as far as the seller's concerned as it effectively gets sold for the asking price net of commission. In many cases the seller will take less since the coin did not draw a bid despite widespread exposure on Ebay.
Ebay tries to discourage this practice for obvious reasons, and no longer permits "ask seller a question" after an auction closes (unless you were the buyer). So the interested buyer simply emails the seller before the auction closes expressing interest in a negotiated sale if it's "no bid", or contacts the buyer through another pending auction.
This also works in another way. If you bid on a coin with a reserve, and it doesn't sell because "reserve not met", you may get an email from the seller offering to sell at your bid price. This can also be a "win-win" as the buyer gets the coin at it's bid price and the seller gets paid net of commission.
Ebay used to send notices warning potential buyers that you won't get all the "valuable" Ebay protections if you participate in such a transaction.
In either case the buyer does not get the benefit of the so-called (BS) Ebay "protections", which aren't worth diddly squat anyway IMO (been there, done that). You still can use PayPal if agreed, which may offer a modicum of protection if you pay by credit card. Obviously, it's best to deal with someone you know and trust, or with someone who has a well-established good feedback history.
Some will ask if this is ethical, and I would respond "why not?". It's no different than any other private sale between willing buyer and willing seller, even though the introduction resulted form a failed Ebay auction. However, I believe some sellers take it to a questionable extreme and use Ebay as a means of advertising by listing very hi-Dollar coins at excessive prices in hopes of drawing an offer for an "off-Ebay" sale. Do you think an 1794 dollar, of which many have been listed on Ebay, ever sold on Ebay? To my knowledge, the answer is "no". Now ask if a sale ever occured as a result of an Ebay auction, and I'd bet the answer is "yes".
I will admit that I like to stir-up controversy on these boards, and this post may engender a lot of negative or postitve comments (I was called a POS yesterday). Relax folks, don't take all of this too seriously as I believe these boards are here for us to have some fun and learn a bit in the process.
Pretty simple IMO if you want to do it.
1. I have absolutely no love for Ebay, however, it is the only game in town sometimes.
2. if I was selling a $5,000 coin would I put it on Ebay? Probably not, I think a live Auction would be the way to go.
3. If someone offered me an price off Ebay, would I take it.
I have paid both Ebay and Paypal a small fortune over the years. Anytime I could sell direct, I would and not even list items on Ebay.
Sure, there are lots of Ebay/Paypal advantages. More Buyers, More Sellers and more coins to choose from. Better security in selling and buying, better/easier record keeping. I think it's great for the low end Buyers and Sellers. $10-$1,000. Coins Buying and Selling is a very unique business and not always right for Ebay. Items such as Sports Playoff tickets etc. Now that's where you can make a killing on Ebay.
My Ebay Sales
<< <i>I made an offer at your starting bid for the 59-D Franklin. I had it bookmarked and forgot to bid. Simple as that. Nobody else bid so I thought it was a reasonable request to ask. >>
I had three people contact me on that same coin- I wish everyone would have placed a bid
<< <i>
If someone offered me a price off Ebay, would I take it.
. >>
No reason to take the Fifth IMO. Even if you took the offer in your hypothethical, you wouldn't have done anything wrong, yet alone unlafwul!
<< <i>Here is a scenario:
You list coin for $100 and it doesn't sell. Buyer is willing to pay $68, but not $100. You relist the coin for $50 and it ends up selling for $79. That original buyer was hoping to buy it direct ($68)with no competition. Not a real ethical way of doing business. >>
What does this have to do with ethics?
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<< <i>
What does this have to do with ethics?
Not a damn thing as far as I can see--It's called free market competition.
Ever been to a bourse at a major coin show? Now that's a free market in action!!