Selling on ebay

stev32k

I have just started to sell coins on ebay, and have been doing some research on how to sell. I don't have nearly enough data to make sound statistical statements, but I have noticed some apparent trends, and wonder if others can confirm the trends or convince me I'm wrong.

The very first is starting price. What I think I'm seeing is that it is better to have a low starting price and set a reserve than to have a high starting price and no reserve. There seems to be an almost 1:1 correlation between starting price and number of bids. What I've noticed is that if a starting price is specified that is even close to 1/2 of the average selling price the average number of bids drops very dramatically.

The specific coins I'm looking at are MS65 & 66 Liberty Walking halves between 1941 & 1947. These are fairly low priced coins in the $125 - to just over $1,000 for the 41-S. I have just over 200 data points so far and the single most striking feature is that the average number of bids for coins with starting prices of 1 cent to $10 is 9. When the starting price is $50 or more the average number of bids is 0.71! There is a lot of variation and many exceptions, but overall I think that is a very important observation. Obviously if no one bids then the coin cannot sell.

Another striking observation is that coins graded by PCGS receive bids 46% higher than the average of all final prices for the same date, mint, and grade. Even within the PCGS population there is tremendous variation of up to 100% in some cases for the same coin. Some of this appears to be due to lack of experience on the part of bidders, but there also seems to be a correlation between the quality of the photograph and the final bid price. This works both ways - a good picture of a bad coin results in a lower than average price, a good picture of a good coin results in a higher than average price. Overall it seems that better pictures bring higher final bid prices. Again, there are a lot of exceptions, but so far there appears to be a pretty strong indication that good pictures result in higher bid prices.

cdan12

I have tried it all the ways, I get the most money out coins listed with a low starting price and no reserve, I have sold expensive coins this way and recieved more than what my reserve would have been

Dave99B

I'd say for any item worth $500 or less, start at one cent, with no reserve. Forget the silly reserves, starting price, etc.

I'm assuming you have an established, good eBay feedback rating?

If you are selling main-stream material, you will get serious action. You will also have a ton of folks tracking your auctions; they'll snipe heavy at the end.

Dave

grip

stev32k
If your just starting out(ebay) I would strongly suggest having reserves on your hi $ coins
intill you build up your feedback,I diden't do this when I started ,and lost money on the more
expensive coins.
Good Luck!
Al

stev32k

<< <i>If you are selling main-stream material, you will get serious action. You will also have a ton of folks tracking your auctions; they'll snipe heavy at the end. >>



I have several auctions going now and two of them for silver proof sets which are pretty hot. I now have 27 people watching one auction and 33 watching the other. I expect some heavy action about 2 minutes before the auction closes - should be fun to watch.

While this is my first coin auction I have sold camera equipment in the past, and my feedback is 100% for 47 auctions.

coachleonard

yes, you will absolutely get more bids if you start at $1 or less (even $2 is too high to start with). It's absolutely the way to go to get the highest prices. By the same token, you will ABSOLUTELY get burned that way too-- i've tried to think of a way around that dismal fact, but i don't think there is one. Yes, a reserve or higher opening bid will protect you from getting burned.... but you'll likely only get one bid, if that. Super-hot-in-demand coins are the exception of course.

stev32k

So far I don't think I see anything that indicates a lower number of bids when there is a reserve price. I'll do some more looking, but if there is a correlation it does not stand out like starting price.

MDavid

The bidding is not as predictable as one would like... but, then again, it is an auction. If you have a score of 200, can't you offer your item as a "Buy It Now"? Then, merely set the "Buy It Now" price at the value you are willing to part with the item.

I'm curious, though, how does one mail a sold coin?

USPS? UPS? FedEx?

What kind of packaging?

Insurance?

TIA! :-)

stev32k

I've received coins that were mailed in plain white envelopes, small boxes, and padded mailers. I plan to mail mine in padded mailers. I will also use USPS first class, with full value insurance. The only time I've ever had a problem was when the package was not insured.

joemoris

HEY! Good post, Good subject. One thing that you might take into account is WHAT DAY OF THE MONTH!!! 35%+ of professionals get paid BI-WEEKLY on 15-17th and 1st-3rd day of the month! I am a noobie at Ebay AND coins, but I make 12% more on auctions ending around this time of month! Get your own data and private message me what you think! I would suscribe to thread but already have to check mail twice daily to avoid overfull mailbox!

Dave99B

Coachleonard is correct. You will be taking a risk going no start/no reserve, and you will indeed take a beating on some items. But you will also have snipers bid some itmes beyond your expected price. What’s important is, on average, how well do you do.

Good luck,
Dave