Online Buying & Selling Tips for Numismatic items Your Input is Wanted !!!

seemyauction

Sellers what do you think are the most important factors when selling a numismatic item online?

These tips should be useful with any online platform, auctions, classified ads, web store......


Buyers what do you look for before you place a bid or buy?


Tips for Selling

1. Accurate Photos
2. State your Satisfaction Guarantee / Return Policy
3. Maximize exposure, Key word advertising, toot your own horn, tell as many people as you can "I have this for sale"
4. List your items for sale on multiple web sites
5. Accurate Description of what you are trying to sell
6. customer satisfaction, be flexible
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10.

Buying Tips, before you bid or buy look for.

1. Check to see if the seller has a Satisfaction Guarantee / return policy
2. Make sure you know what you are bidding on, if you are not 100% certian, don't bid or buy
3. Ask the seller questions before you bid or buy
4. Seek opinions about the seller from someone you trust
5. If the seller has a short history then only make payment by some refundable form.
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10.
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<< <i>morgansforever wrote: I thought high res pics were important, but space shots do better than mine.

I sold a few 08 Eagles, the ones with crummy pics, sold on average $40 -$60 higher than mine.

I get the feeling buyers like crappy pics, because they feel the seller has no clue, maybe get a rip or something.

Does this make any sense? >>


Not to me, I would never bid or buy without seeing what I'm buying.....
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<< <i>thestig wrote: I don't know, but my question is why do items sold on eBay only seem to get 50 views on average before they end?

Is there a better way to get over 100 views per auction? This has to be the key factor, with all the people why do items seem to get very little exposure? >>


I agree there was a day when you would get 100's of hits per item on ebay. You have to ask yourself what has changed with them? If you think back those hits came before the days of the "ebay Store." Sellers like the store format because they can set their price, buyers like the auction format because they have a chance of getting something cheap. When the stores came about, ebay split the data base, if you search from the main search box you only get auction items. The exception to this is when there are few auction results, ebay will return store items matching you search to "Fill the empty space."

Then ebay cam up with the "Brilliant" idea of having ebay china, ebay australia, ebay what ever country will pay fees. This created more data bases, split the users up again. End result 10 years later......Less Hits & more FEES, topped off with the Destruction of the "Core" Feedback system........(sorry for the rant)
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UtahCoin

Good, high quality pictures are key

morgansforever

I thought high res pics were important, but space shots do better than mine.

I sold a few 08 Eagles, the ones with crummy pics, sold on average $40 -$60 higher than mine.

I get the feeling buyers like crappy pics, because they feel the seller has no clue, maybe get a rip or something.

Does this make any sense? First pic is mine sold raw for $267. Second pic sold for $345, crappy pic brought more money.

Ended on the same day, about 20 minutes apart. I've noticed this with a few auctions. Comments?

Coxe

At no matter what level of selling, the single most important thing for sellers and buyers is the image quality. Decent images are the only approximate substitute for in-hand inspection. I have done ok with sight-unseen purchases but would not recommend them, even slabbed and stickered.

I don't like to return coins. A return priviledge is not very important to me personally as a buyer. I would rather just not bother bidding on a coin if the images and descriptions were not satisfactory for me in making a valuation assessment.

Fees are important on both sides naturally. Personally, I would like to see companies charge buyers no fees. The hammer would be the price and just hit the seller for fees. And I really cannot see any justification for higher than 10% overall for internet sales. I do know CC fees and the billing can eat away for regular auction companies even in these little sales. For eBay, it is disgusting. They never take custody of the merchandise but only broker the sale and its terms. Their fees are market domination extortion. Their declining profits are a matter of questionable business competence and not an excuse to charge more. Sorry, I turned my reply into a rant.

thestig

<< <i>I thought high res pics were important, but space shots do better than mine.

I sold a few 08 Eagles, the ones with crummy pics, sold on average $40 -$60 higher than mine.

I get the feeling buyers like crappy pics, because they feel the seller has no clue, maybe get a rip or something.

Does this make any sense? >>



I don't know, but my question is why do items sold on eBay only seem to get 50 views on average before they end?

Is there a better way to get over 100 views per auction? This has to be the key factor, with all the people why do items seem to get very little exposure?

rgCoinGuy

As a buyer:

I agree that pictures are important, but it depends on what I am bidding on how much that goes into my decision as a buyer. Stock Photos almost always cause me to move to the next coin, even on a modern issue. As I will state under As A Seller, customer service is important. I have bought more than I have sold probably. I can still name the only seller that I left a negative for, and that was years ago. I will never even look at an item they list, and it was over a 5 or 10 dollar OBW roll of lincoln memorials. I can't name most of the buyers I have had good experiences with. You always remember that rotten apple.

As a Seller:

I use to sell a lot of small dollar and up type items, but with the new fee structure, I am actually selling off those type of items in lots instead. I have never sold to make money, but just as a hobby and always put the money back into more coins. I was working on starting an online store, and actually got it live with some inventory, but by then decided that it was taking away from my enjoyment of the hobby, so I am scaling that back and working on changing it up.
What I have figured out is an accurate description, accurate pictures, and more of a plain jane listing (instead of the multi-colored text, pimped out listings that generally have the same amount of info about the coin, but make that info much harder to find), seem to get a fair price at auctions. Any obvious defect that is not clear in the pictures should be pointed out. Shipping should be done no later than the next business day after cleared payment is received. Any questions should be answered in a timely manner. Returns, even of slabbed coins, should be accepted for any reason, although I do advertise that I don't return shipping charges unless the item is not as described (I have only had a couple returns and always have refunded shipping charges though.) Basically, the coin market is fairly small, and customer service is way more important than one may think.

Connecticoin

Sometimes, learning how to read crappy pics can pay off.

ziggy29

I think good pictures and a fair return policy are paramount.

mike92694

<< <i>Good, high quality pictures are key >>



I never understood why good, high quality pictures are key. For the most part, the coin I receive is different in quality than the picture shows. I'd have to say that by purchasing a coin based on a good, high quality picture alone, I have had a 50/50 success rate. Contact marks are usually not an issue, but lighting and color are, and the coin was either too dark compared to that in the picture, or the color was not quite the same.

As a buyer, I base my online purchases on perceived reputation (e.g. recommendations from the board, eBay feedback, etc.). As I have only a limited budget, I choose from a select few who provide the best in quality and service. Those who provide me with such get the repeat business. For quality, it is "eye appeal, strike, and contact marks" in that order. For service, good communications so that I can get my coin within a reasonable time period is sufficient.

As a seller, I don't sell good items on the internet. I'll be honest. There are too many unknowns, and I don't think I can get a good price selling my higher quality coins on the internet. I would prefer to consign them to a major auction house or to a specialized dealer.

seemyauction

Come on, we should be able to come up with some more great tips.......

mrearlygold

Adequate bidder/buyer blocking system.

Easy to upload bulk listings.

LostDutchman

Tips for selling besides what has been stated.
This applies in any business... Its all about customer satisfaction. Treat your customer with respect, don't talk down to them, and learn to be flexible. Being a younger guy I cant count the times I have been talked down to by other coin dealers and sellers who think they are better or know more then someone else... If you treat someone fair they will tell others, and they will come back.

TwoSides2aCoin

Accurate descriptions without "hyping" too much. Some hype is normal in presenting a product, but imagine if you were at the receiving end of the B.S. Would girls with PomPoms coinvince you to buy ?
I'll come back later, Al.
Thanks for a place to help make others aware.

Walmann

As a buyer, a photo is primary. Although I must admit to having a few times purchasing some coins that have scan photos. These often generate fewer bids,as IMO many buyers perceive the scan image to indicate how the coin has toned.

With so many sellers via these auction websites the second item of importance is protection from misrepersented coins or out and out fraud. If the seller has a long history of true postive feedback then any form of payment is okay if they offer a return policy, if the seller has a short history then only payment made by paypal or some other refundable form.

TavernTreasures

I would never neg a seller for this, but it irks me when I receive an item that is poorly packaged. A secure and well packed item always makes me happy as a buyer.