The eBay effect vs. Heritage/ANR/BM and others.

Tarmac

Why don't more serious collectors buy high end coins on ebay?

Here's what happened [and no I'm not complaining], over the last 2 years I listed 3 times a nice PQ PCGS type coin [Bust Gold, Seated $ and a Kalidoscope toned Commem] and while each BIN "auction" had plenty of traffic no one used the buy it now to purchase the coins.

Fast forward 18 months later and each coin brings in 12%-40% MORE than what they could have been had for on eBay!

Why do buyers wait to pay more? Are the high end buyers even looking or paying attention?

About a month ago I listed a wonderful Morgan DMPL and by mistake priced the BIN at $1000 less than the going price ! No one bid. I caught the error about 14hrs into the auction and changed it. I am starting to think I should just place all my high end stuff with the auctions houses!

curly

To be honest about it, I'm afraid of getting ripped. I think that e-bay is a dumping ground and I don't want to hunt thru them for the ones that might pass muster. I figure top notch coins are going to bring top dollar and I might as well bite the bullet and pay the price.


Thats my take on it anyway.

Barndog

I can't figure out the psyche of ebay insofar as BIN is concerned. I have set BIN well above reasonable and sold quickly. I have set BIN well below reasonable and not had people take advantage of it. I've used BIN, gotten bids effectively erasing the BIN option, then had the auction close well above the BIN. Crapshoot.

roadrunner

I search ebay for high grade type coins (not dollars though) and find very little to nothing that is auction material. Most are retreads looking for a 3rd or 4th home after several dealers have passed it around. Proof coins that are over-dipped, low eye appeal coins, etc.
I look at all the high end MS type slabs and see very little. It has been over a year since I found a nice silver type coin at fair value
(that was an 11-s 25c in PCGS 64 first gen holder....I sold it as is for 65+ money........the buyer no doubt got his 66).

Ebay quality has dropped quite a bit as sellers like Harbor Coin try to pass off lower quality old holdered coins as PQ or upgrades.
It just won't happen. Most of the power seller are just retreaders
(like in tires!). You have to find that old collector who shows up out of the blue with his collection. And when that occurs, every shark is swimming around the auction. In almost every case the coin is bid to far above the current grade price, and often right to the next grade. I see it with Saints all the time.

roadrunner

ccex

eBay is perceived as dumping grounds for anyone who can post a crummy picture of a coin and state that they are not a professional coin dealer. However, some eBay auctions have revealing enough photos and descriptions to keep many of us searching through the 99% of auctions not worth bidding on, and coming back for more.

Bochiman

For ebay, particularly for higher priced items, or good items, I think that it helps to be "established" and with a good rep.
I have 100% feedback but sell seldom (I am a collector, not a dealer). But, I have NO doubt that given the same pictures and description, that the same coin would sell more for Russ than me.
His auctions have more eyeballs on them constantly.

Same with BigD5 and others on here......they sell a lot of nice stuff and have good reps.

So, I don't know what your ebay track record is (ie....always highend items, high feedback numbers, etc) but that may be part of it.

RedTiger

In 18 months the market may have moved 20% or more. Gold, Seated dollars and monster toners have all gone up in the past year. For expensive coins, there is little substitute for seeing them in hand. There are so many low-end coins out there a buyer must be on guard. A seller can write anything they want, and also manipulate photos. Toners in particular really need to be seen in person. Photos rarely are accurate.

Personally, I'd be extra careful spending a high dollar amount on Ebay, even with an established seller with a sterling reputation. There have been horror stories about account hijacks, and similar scams that a buyer must be extra careful.