US coin selling on ebay. Have you ever lost money on a auction?

YaHa

I was just wondering with the econmony tight and I feel I have made some good buys, have some of you lost money on a ebay auction while paying for the coin, fees and time.

BillJones

In my view the eBay fees, which include mandatory Paypal, have become such that it is hard to sell nice coins at a profit in that venue. EBay has been a place for some some dealers to sell their less than primo stuff or stuff they had trouble selling elsewhere. I can't see than situation getting any better given the way eBay runs their business.

ksteelheader

<< <i>In my view the eBay fees, which include mandatory Paypal, have become such that it is hard to sell nice coins at a profit in that venue. EBay has been a place for some some dealers to sell their less than primo stuff or stuff they had trouble selling elsewhere. I can't see than situation getting any better given the way eBay runs their business. >>




It's looking more amd more like this every day.

Barndog

if someone says they've not lost $ on a sale, they haven't sold enough or aren't telling the truth

holeinone1972

Yes, I bought a 1907 2.5 gold ms 62 PCGS when the microsoft cashback program was at 25% .

tHE pcgs GUIDE JUST WENT UP TO $490 a couple months later the guide went down to $400 and gold tanked, I just sold it for a $90 loss.

the microsoft cashback will get me even. LOL

Paypal and ebay made out that is about it.

Rob

sonoranmonsoon

Yes, I have lost a bit on lately on some coins that I did not own more than a few years. Fortunately, I am more of a buyer, than seller. I have been able to buy lately at pretty good prices, that has made up for my losses on the sell side.

jessewvu

I lose money all the time I am selling American Buffalo Proof coins at about a $20 loss each, on average, right now. I think the most I have knowingly lost on a coin was the 10th Ann Plat set graded by PCGS. I think a set sold for about $500 less than the US Mint price. Others have developed "methods" to make sure they don't lose money on eBay, I don't worry about it.

You start adding in credit card finance charges, time, hassle, and the like, its extremely hard to make a profit.

TwoSides2aCoin

<< <i>I lose money all the time I am selling American Buffalo Proof coins at about a $20 loss each, on average, right now. I think the most I have knowingly lost on a coin was the 10th Ann Plat set graded by PCGS. I think a set sold for about $500 less than the US Mint price. Others have developed "methods" to make sure they don't lose money on eBay, I don't worry about it.

You start adding in credit card finance charges, time, hassle, and the like, its extremely hard to make a profit. >>



Jess, there are no bail outs designed to help us Quit losing money. That's not what you're supposed to do. Hold the coins until a profit can be made. What is this confession you are making ? Do you file your losses on a schedule C ? The government will only allow losing for so many years before this becomes a hobby.

Maybe the same law should apply to the financial sector (banks). They should be given "hobby status".

robkool

I've lost a little money here & there... But at least it mostly on the junk items coins that I got for near nothing.

jessewvu

<< <i> Jess, there are no bail outs designed to help us Quit losing money. That's not what you're supposed to do. Hold the coins until a profit can be made. What is this confession you are making ? Do you file your losses on a schedule C ? The government will only allow losing for so many years before this becomes a hobby.

Maybe the same law should apply to the financial sector (banks). They should be given "hobby status". >>



I don't lose money when I total up the year, I do pay a fair amount in state and federal taxes every year and have never claimed a loss for either. I am just saying, I don't want to sit on dud coins and wait for their price to come back. I have to sell everything quickly so I take a loss and am done with it. And besides, my line of thinking is if I can get someone something cheap, maybe they will come back and drive my items that are profitable up that much more.

grip

Yes! A lot of times,it's part of the game.
Al

Russ

Everybody loses money sometimes. The goal is for the winners to offset the losers. Besides, even when you lose some it's still better than most other activities. Ever try to sell a round of golf after you've played it?

Russ, NCNE

lasvegasteddy

it's sweet to make some $$$

sometimes it's sweet to see the other guy make some $$$ too

the ball rolls in all courts

Coll3ctor

Yes

UtahCoin

Just lost money on this one. It just sold for $29.02

JCMhouston

<< <i>become such that it is hard to sell nice coins at a profit in that venue. >>



I believe that is true for relatively common stuff, MS63-64 Morgans/modern/ etc. But I have to say that on really better date stuff the prices are still rising. An 1806 Gilt Proof British 1/2 Penny just sold last night for over $1K on ebay, that's one of the most common dates with a couple of dozen known and they usually go for around $750-800. All of the better material in my collecting areas seem to be the same.

I'm hoping the meltdown takes some money out of the market so I can get back to serious buying. I had a pretty good buying year earlier, but prices have gotten pretty high in some areas so the last couple of months I have not bought as much as I could have. I don't think I've added a piece to my early commem set for about 6 months.

And yes, people trying to flip a coin in a couple of months have very likely lost money, I note that one of the Millineum Collection pieces is back for sale, that will be hard to make a profit on as the auction prices were so high.

BECOKA

I have lost a lot more than I am willing to admit but that is mainly on modern stuff.

sinin1

eBay has been the big winner

auction house fees with only a computer hosting program



you should ask how many eBay sellers like working for themselves for less than minimum wage
with great flexibility on hours

TennesseeDave

I've lost money on single coin auctions on e-bay,but made a profit on the overall auction of the 10 to 15 coins I listed at the same time.

bfjohnson

More of a buyer than seller, but yes I have lost money on an ebay auction. Overall, probably even after fees but having fun along the way.

blu62vette

Yes.

19Lyds

"US coin selling on ebay. Have you ever lost money on a auction?"

Does a fat baby fart?

Does a bear shat in the woods?

coinman420

everybody looses here and there but the gains should counter the losses. if you paid way too much for something you will loose unless you hold for a long long time. JMO

19Lyds

I'm loosing it Lucy!


Sorry couldn;t resist!

Millertime

If eBay had buyer fees like Teletrade I wouldn't be an eBay buyer so sellers would have even less of a customer base. I haven't sold on eBay so I don't know the fee structure but do you really expect buyers to pay for the privilege of being a customer?

Millertime