Selling on Ebay no longer worthwhile...
Frankcoins
Posts: 4,572 ✭✭✭
I have done substantial volume on ebay for about 7 years, and lately have dealt mostly in slabs, even
under $100 stuff, simply because buyers have so often gotten burned on fakes and overgraded stuff.
I have always started these auctions with no reserve or minimum. Until the past couple of months, maybe
one coin in 50 didn't bring over my cost. Most made 25% to 50% over my cost, which is at least a living wage.
Now it looks like the fake slab scare has made buyers even afraid to bid on slabs from the major TPGs.
For the first time EVER I am receiving a couple of emails a week "How do you know this slab is real?"
These recent sales were a DISASTER. I picked out PQ material and in almost no case did I break
even. These examples realized over a 50% loss over my cost. A number of local shops like my eye for
quality and are willing to pay me a small profit for my efforts...but apparently not ebay buyers...
Paid $55, sold for $26
Paid $19, sold for $5.05
Paid $55 sold for $26
Paid $25 sold for $14.39
Paid $19 sold for $3.35
under $100 stuff, simply because buyers have so often gotten burned on fakes and overgraded stuff.
I have always started these auctions with no reserve or minimum. Until the past couple of months, maybe
one coin in 50 didn't bring over my cost. Most made 25% to 50% over my cost, which is at least a living wage.
Now it looks like the fake slab scare has made buyers even afraid to bid on slabs from the major TPGs.
For the first time EVER I am receiving a couple of emails a week "How do you know this slab is real?"
These recent sales were a DISASTER. I picked out PQ material and in almost no case did I break
even. These examples realized over a 50% loss over my cost. A number of local shops like my eye for
quality and are willing to pay me a small profit for my efforts...but apparently not ebay buyers...
Paid $55, sold for $26
Paid $19, sold for $5.05
Paid $55 sold for $26
Paid $25 sold for $14.39
Paid $19 sold for $3.35
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
0
Comments
First off, the coin pictured in your first example (the '62 franklin in the NGC holder) looks spotty...is that the photo or the coin that is causing that look?
Then, you put in the title stuff I run away from that is usually in a scammer's title...."TRENDS..."
"1962 Franklin Half NGC Proof 67 W Cameo Trends $150 NR"
Your 2nd example is an ICG SBA. Not sure what you expect from selling something like that? Who wants something you can pull out of a proof set (somewhat recent) in an ICG slab?
The coins you listed are common, not worth much, and aren't going to go for a lot on ebay, imho.
Again, though, outside of the fact on the coins, your title pushes me away with "Retail $100" or "Trends $150", etc.
Take that as you will....just giving you potential reasons.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
60 years into this hobby and I'm still working on my Lincoln set!
Russ, NCNE
Is that your usual inventory?
Liberty: Parent of Science & Industry
the stuff appears to be common.
it is summer.
some coins appear to be damaged. anacs net slab, some coins appear
to have some spots.
all in all, i think you got what you deserved and what those coins
were worth.
That way you lose less on a "no sale/did not meet reserve price" than you do selling a quality coin for cents on the dollar.
It's a $20 coin. And, BTW, that "color" is from a bad dip and proof collectors know it.
Russ, NCNE
<< <i>Boch, hit the nail on the head....common modern stuff in ICG & ANACS holders. In addition, your s/h fee of $4.95 seems high & your mailing of 5 days after cleared payment is way to long. >>
2 NGC slabs and 1 PCGS slab in my examples, but two people mentioned only the ICG and ANACS slab...
<< <i>Bochiman has a point.
Is that your usual inventory? >>
That's typically been winning material for my ebay customers. I don't sell hi end stuff on ebay.
<< <i>Where do you get $150 retail on this common proof quarter?
It's a $20 coin. And, BTW, that "color" is from a bad dip and proof collectors know it.
Russ, NCNE >>
yeah, i was thinking the same thing when i saw that auction. The retail price is absurd, as is the ' i don't know how to dip, but i'll try anyway' look of it.
<< <i>"TRENDS...".... "Retail $100" or "Trends $150", etc. >>
I've often wondered what the point is behind spam like that, that is, if other than sellers putting that in their titles with the hope the final value will yield those "trends".
Maybe sellers who use that wording can chime in and enlighten me. Are you letting potential bidders know what they can bid up to on an item? Do you think it lures bidders in much like other title spam such as ESTATE SALE? (don't get me started on THAT one).
Also, Frank, maybe you're paying to much initially. Twenty five bucks for a zer0 four Sacagawea? Gawd. I paid a little over half that for a complete proof set. Sure it's not slabbed but the coins are still DCAM 69s.
It's also Summer time. Try again in a few months. I bet your realized prices are better.
Somebody else said something in another thread, I've seen it said more than once too, ...a good coin is going to sell no matter what.
I'm glad I'm not in the business to make a living right now. I do want to see good people make a go of it. I hope the market turns up for you folks soon.
<< <i>Where do you get $150 retail on this common proof quarter?
It's a $20 coin. And, BTW, that "color" is from a bad dip and proof collectors know it.
Russ, NCNE >>
$26 is really pretty good for that coin.
Even the inflated PCGS price guide is $45. I find it really hard to believe Frankcoins paid $55 for it.
<< <i>In addition, your s/h fee of $4.95 seems high >>
Just using some rough figures, it could cost nearly that in postage charges alone (not allowing for boxes or packing material expenses) to send a box across the country via first class mail with DC and insurance.
<< <i>I hope the market turns up for you folks soon. >>
The market is just fine. What you're seeing here is a case of somebody who paid too much for common coins and is now blaming that mistake on eBay.
Russ, NCNE
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<< <i>In addition, your s/h fee of $4.95 seems high >>
Just using some rough figures, it could cost nearly that in postage charges alone (not allowing for boxes or packing material expenses) to send a box across the country via first class mail with DC and insurance. >>
We have had good luck selling coins on eBay but more importantly we meet new customers there all the time.
<< <i>
<< <i>I hope the market turns up for you folks soon. >>
The market is just fine. What you're seeing here is a case of somebody who paid too much for common coins and is now blaming that mistake on eBay.
Russ, NCNE >>
yup, sour grapes for sure
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<< <i>
<< <i>In addition, your s/h fee of $4.95 seems high >>
Just using some rough figures, it could cost nearly that in postage charges alone (not allowing for boxes or packing material expenses) to send a box across the country via first class mail with DC and insurance. >>
For a $5 - $15 coin, I do & I would bid accordingly.
<< <i>
<< <i>Boch, hit the nail on the head....common modern stuff in ICG & ANACS holders. In addition, your s/h fee of $4.95 seems high & your mailing of 5 days after cleared payment is way to long. >>
2 NGC slabs and 1 PCGS slab in my examples, but two people mentioned only the ICG and ANACS slab... >>
The walking liberty half has a scratch (problem coin), and is AU imo. It sold for a little less than I would have expected but quite a few of this date sell for around bullion on eBay if they aren't gem. I don't know why you'd pay $19 for it when you can buy clean examples for much less--you probably could have sold it for more raw than in an ANACS holder with a problem qualifier.
The PCGS 2004 Sac sells on ebay for $11-$19 in PR69 condition. Yours sold for $14.39, which is right on target with what others are getting.
The '64 PR68 quarter--I see tons of these on ebay right now that sold within the past 30 days for $9-$12 and they were in PCGS slabs. Your NGC got $26. Winner. Dunno why you paid $55 for it. Buy them on ebay for 1/5th the cost!
ICG Susan B Anthony dollar--you got $5 for a coin that can be found in just about any $5 proof set. That sounds reasonable. They can be had for $10 in a PCGS slab.
I saw a PCGS PR67 Cameo '62 Franklin sell for $33 on ebay. $26 for your NGC version seems about right on target.
The only thing I could suggest to get more traffic to your listings would be to notate condition like "PR67" instead of "Proof 67", only because I search the former and not the latter. As Russ mentioned, the "TRENDS $$$" line is usually used on scam slab auctions, and so many collectors have trained themselves to automatically gloss over any listing that mentions trends or retail or value $$$ in the title. You could get rid of that line and use the extra space to describe the coin.
<< <i>Bochiman has a point. >>
Yeah...right on top of my head
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
When I buy on ebay I can't say that I've ever gotten a "screaming deal" on a nice coin. IMO there are lots of buyers willing to pay fair price.
I always tracked other sellers that were selling what I was. I then looked at the sellers that were getting the highest sales prices. I would then use the layout they used, adjusting a few things here and there.
From what I see by looking at your listings here are my reccomendations:
I think you may want to market your coins in a more enticing matter.
You need to set your listing apart from other similar listings.
--- Bring color into the listing, a bright border. Using bold blues and bold reds for titles of each section instead of regular black.
--- The longer you can keep a buyer on your page the more likely they will bid on it.
--- Move your credentials below the information. (Very good info) but keep the enticing info at the top.
--- I'm sure you have a gallery picture of the coin for the listing.
--- You may want to spend a dollar to make your listing in bold for listings if you expect to get more than $25. Remember you're trying to set your listing apart from similar listings.
I would remove the "additional information" section from the listing. Much of that info will mean very little to most buyers interested in the coin and will get lost trying to sort it out. They may begin to lose interest in the coin and move on to other listings.
Try to keep your listing more of a sales pitch other than information about the coin.
I hope some of this helps,
Steve
are other completed listings going for more?
good luck.
<< <i>For a $5 - $15 coin, I do & I would bid accordingly. >>
Aside from the cost of insurance, there is no relationship between the value of the item and the cost to get it delivered. As more and more sellers find that it is no longer profitable to sell lower valued items on eBay, these items will disappear from the site. I don't know, but I'd think that's not a good thing. I guess then, people will just have to drive to their local coin shop to find these less expensive coins (assuming they have a local shop, and that the shop carries the kind of coins the collector is looking for). It'll cost the collector in time and gas money, but at least he won't be overpaying for shipping.
It's a lot to ask of a seller, to lose money on shipping just because buyers are too "thrifty" to appreciate the costs involved with having items delivered to their doorstep, but then, that's just me- YMMV.
<< <i>Most made 25% to 50% over my cost, which is at least a living wage. >>
WOW, and the major dealers on here tell us they only make 10-20% retail...... you da man, or you were.
<< <i>These recent sales were a DISASTER. I picked out PQ material and in almost no case did I break even >>
Yes it shows on your examples, Anacs scratched, another coin that says "Color" that looks like a bad dip.
roadrunner
``https://ebay.us/m/KxolR5
It's not Ebay, it is you Frank!
That's a Sacagawea not a Golden Dollar, despite what the US Mint says.
You sell it at no reserve and then challenge the Market and your Bidders with your WAG on the Retail Price??
You end it on a Sunday at 1:30 PM PST or 4:30 PM EST?? Are you nuts?
No one's near a computer!
I see some of the poorest marketing I have ever seen!
You say you have been making 25%-50% doing it like this, in the past????
Boy, consider yourself blessed!
There are EBay guys here that will take that stuff you've been trying to sell and get double TODAY, doing it the right way.
Stop whinning and get a Book on how to sell on EBay, for christ's sake.
'Selling on EBay for Dummies' is a good start!
I am not being a smarty-pants either, just giving you a slap with some TOUGH-LOVE!
BTW, you get a lot of respect from me by actually following thru with your deals like you did!
Frank, come back.
Earth to Frank !!!
I got $3.26 for this one
whew, fortunately I only paid $2.25 for it
``https://ebay.us/m/KxolR5
<< <i>One more less competitor
One less, too
``https://ebay.us/m/KxolR5
<< <i>
<< <i>In addition, your s/h fee of $4.95 seems high >>
Just using some rough figures, it could cost nearly that in postage charges alone (not allowing for boxes or packing material expenses) to send a box across the country via first class mail with DC and insurance. >>
I charge $3 for s/h which includes a protected coin, placed in a bubble mailer, Delivery Confirmation, and Insurance and I still get ragged on for s/h charges...
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
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<< <i>
<< <i>In addition, your s/h fee of $4.95 seems high >>
Just using some rough figures, it could cost nearly that in postage charges alone (not allowing for boxes or packing material expenses) to send a box across the country via first class mail with DC and insurance. >>
I charge $3 for s/h which includes a protected coin, placed in a bubble mailer, Delivery Confirmation, and Insurance and I still get ragged on for s/h charges... >>
I hear ya Utah... people really are tight on ebay. However, eBay is a great equalizer and a good measuring stick of the worth of most tangible goods.
``https://ebay.us/m/KxolR5
jim
Now that's a thread to start!
The problem as I see it is that the market for inexpensive coins, such as these, is pretty well flooded. It will be that way
from now on due to the numbers and quality that the mint is producing. Take a step back and say "why would I want to
buy this coin in this market today"? Then either do or don't buy the coin. The 81s proof set has been selling at around
$5-6 for the whole set. I might be a buyer for that but maybe not, too, as they are so common. It's easy to put together
a proof set run. Why do them individually at this point in time....perhaps in 30 years? I think you have to go back to what
you are buying and make sure there is a market for the price that you are going to be wanting. You just blew it on this
batch. Hey, common, modern and plentiful coins.
You have a good eye, I don't doubt that. Just refocus on desireable coins that are not dime a dozen.
bob
<< <i>I charge $3 for s/h which includes a protected coin, placed in a bubble mailer, Delivery Confirmation, and Insurance and I still get ragged on for s/h charges... >>
I'm entirely convinced you could offer free shipping and still get some complaints.
<< <i>
<< <i>
<< <i>In addition, your s/h fee of $4.95 seems high >>
Just using some rough figures, it could cost nearly that in postage charges alone (not allowing for boxes or packing material expenses) to send a box across the country via first class mail with DC and insurance. >>
I charge $3 for s/h which includes a protected coin, placed in a bubble mailer, Delivery Confirmation, and Insurance and I still get ragged on for s/h charges... >>
Seems most people have no idea how much postage rates went up a few months ago, especially for bubble mailers which are now considered packages.
-David
I did! Don't worry Frank's a big boy.
It took balls from him to write that post.
<< <i>Boch's right on.
It's not Ebay, it is you Frank!
I see some of the poorest marketing I have ever seen!
You say you have been making 25%-50% doing it like this, in the past????
Boy, consider yourself blessed!
There are EBay guys here that will take that stuff you've been trying to sell and get double TODAY, doing it the right way.
Stop whinning and get a Book on how to sell on EBay, for christ's sake.
'Selling on EBay for Dummies' is a good start!
I am not being a smarty-pants either, just giving you a slap with some TOUGH-LOVE!
>>
If you will kindly PM me with your eBay handle, I will be glad to take a look at your auctions for sale.
<< <i>
<< <i>Boch's right on.
It's not Ebay, it is you Frank!
I see some of the poorest marketing I have ever seen!
You say you have been making 25%-50% doing it like this, in the past????
Boy, consider yourself blessed!
There are EBay guys here that will take that stuff you've been trying to sell and get double TODAY, doing it the right way.
Stop whinning and get a Book on how to sell on EBay, for christ's sake.
'Selling on EBay for Dummies' is a good start!
I am not being a smarty-pants either, just giving you a slap with some TOUGH-LOVE!
>>
If you will kindly PM me with your eBay handle, I will be glad to take a look at your auctions for sale. >>
I don't see where he stated HIS auctions do better...don't even know if he has them, but go look at Russ' auctions.....style means a lot and material does as well.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment