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Is it just me or does selling on ebay make no sense
bjeffv
Posts: 13
The fees are just too high. I am thinking of selling a couple of gold buffalo proofs. They go for almost 1800+free S&H today (7-14-11) which is a good price on the surface.
But break down the fees: 9% or 100.00 cap ebay fees, 3% or about 52.50 in paypal fees. To ship the coin it will run 35.00 with insurance/signature etc.. so thats 187.50 off the top.
Plus if it does go missing in shipping the insurance just covers what I have to refund, I am still out the coin.
I can walk down to my local coin store, I know he gives 20 bucks over spot for the bullion version and 30-50 over spot for the proof.
At the end of the day I really wouldn't make anymore off ebay, and I have the worry of losing the coin in shipping.
Anyone else do the math and think it just doesn't make sense to sell on ebay?
Maybe I am just lucky with good local shops, most pay well and sell there items for less than what they would go for on ebay.
But break down the fees: 9% or 100.00 cap ebay fees, 3% or about 52.50 in paypal fees. To ship the coin it will run 35.00 with insurance/signature etc.. so thats 187.50 off the top.
Plus if it does go missing in shipping the insurance just covers what I have to refund, I am still out the coin.
I can walk down to my local coin store, I know he gives 20 bucks over spot for the bullion version and 30-50 over spot for the proof.
At the end of the day I really wouldn't make anymore off ebay, and I have the worry of losing the coin in shipping.
Anyone else do the math and think it just doesn't make sense to sell on ebay?
Maybe I am just lucky with good local shops, most pay well and sell there items for less than what they would go for on ebay.
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Comments
Russ, NCNE
<< <i>Plus if it does go missing in shipping the insurance just covers what I have to refund, I am still out the coin. >>
I thought the insurance was for the seller to recover cost of the lost item and ebay's buyer protection covered the buyer
and that is why you can't force a buyer to pay for the seller's insurance.
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#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
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As for buying on eBay, I think it has it's place
Empty Nest Collection
If an item is shipped and has no proof of delivery, or is proved to have never been delivered, the buyer gets a refund. Paypal takes/freezes that amount from you. So in short unless you insure for double you are out the coin, and the buyer is out nothing.
A while back it was a scam buyers would run. If the package came just shipped, but no delivery confirmation or anything, they could simply claim it never arrived and they would get the money back. It happened to me on a couple under 100 dollar items in the same week. (we are talking used DVDs, video games etc, would never send a coin without signature confirmation)
I also have had several people e-mail me a week after an item has been delivered and signed for. They ask do you have a tracking number, my item hasn't arrived? I respond yes I do, and according to what I have it was delivered a week ago and you signed for it. They still opened a case but with delivery confirmation they side with the seller.
Ebay: $79
PayPal: $52.50
Postage: $23.00 (approx)
Seller protection: Priceless
No Way Out: Stimulus and Money Printing Are the Only Path Left
I have bought a few items my coin dealer couldn't get, but for everything else he is way better price wise than ebay. Silver philharmonics 2 bucks over spot is just one example. He has low overhead, and his store doubles as a used car lot. That's why I think he can pull off such great buy and sell prices.
Box of 20
<< <i>In your scenario, where you're selling bullion and you have a local dealer who pays enough, no it doesn't make sense. In many other cases, it makes excellent sense. Lots of coins bring far more on eBay than you will ever get from a local dealer.
Russ, NCNE >>
Don't forget that there are many instances where you just need two people who really want something to get into a fight. I once sold 4 coins estimated to go for $700 total (sold individually) go for $7000. total. Common occurrence? No, but there are enough instances where coins that don't have extremely established prices can do great things when you let people compete.
Russ, NCNE
Thats where ebay did rock. The common current/bullion coins not so much.
A lot depends on what you are selling or buying. I don't have a local guy who I trust. I still would rather buy where I can see the coin with my own two eyes. On e-bay, I will pay retail or more anyway. Selling low dollar coins, I can sell and get retail or more, so i do.
High dollar coins I would never use e-bay, though some do and feel they have done just fine.
We are all different. That's ok.
Silvertime
Jim
<< <i>Yeah, I love bidding the wars. I sold a 1958 PCGS PR67DCAM proof Frankie recently for over $2300, which is way more than the inflated PCGS price guide value.
Russ, NCNE >>
Russ, is the resco/consignforsale your site?
<< <i>
<< <i>Yeah, I love bidding the wars. I sold a 1958 PCGS PR67DCAM proof Frankie recently for over $2300, which is way more than the inflated PCGS price guide value.
Russ, NCNE >>
Russ, is the resco/consignforsale your site? >>
I'm not Russ, but yes, that is his site.
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
based on the title thread
it is just you
.
i overall advise people not to sell bullion via ebay
BUT
i can think of several scenarios where it would be most beneficial
creative thinking can take you a long way
.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Is it just me or does selling on ebay make no sense >>
It's just you, I guess. Really depends on what KIND of coins you're sellin'.
I typically like to sell my US coins here on BST but world coins need the global exposure that eBay brings.
Sell to a "coin store/used car lot" and get paid over $600 and you will.
Sell on ebay and you won't... unless you sell 200 items or $20,000 worth of "stuff"
``https://ebay.us/m/KxolR5
But break down the fees: 9% or 100.00 cap ebay fees, 3% or about 52.50 in paypal fees. To ship the coin it will run 35.00 with insurance/signature etc.. so thats 187.50 off the top.
Plus if it does go missing in shipping the insurance just covers what I have to refund, I am still out the coin.
I can walk down to my local coin store, I know he gives 20 bucks over spot for the bullion version and 30-50 over spot for the proof.
At the end of the day I really wouldn't make anymore off ebay, and I have the worry of losing the coin in shipping.
Anyone else do the math and think it just doesn't make sense to sell on ebay?
Maybe I am just lucky with good local shops, most pay well and sell there items for less than what they would go for on ebay.
Tough call sometimes. I sold my raw 2009 gold buffalo proof to an AP Bullion Distributor at around $1940 last year. Gold was around $1900 an ounce. At the time ebay would have take a good chunk so wouldn't sell there. A few weeks later they were going on ebay at around $2300. At that price it would be better to sell on ebay. Market for these can become volatile. Now they are selling in the 1850-2000 range.
Box of 20
<< <i>Plus it seems to take so much time. Even if you net more selling on ebay, is it enough more to warrant the time to picture, list, follow, package, take to the post-office, etc., etc., etc.? I'd better be getting a whole lot more money for what I am selling to go through all that hassel. It sure is a whole lot much more fun to buy than sell. >>
if you get a nice little system set up it takes virtually no time at all
my paypal 1099 was just a few bucks under $60k and shipped multiples of hundreds of packages in 2011 of all shapes and sizes all across the globe and have
so much time to do what I want it still amazes me
that includes buying, attributing, grading, organizing, imaging, filing, listing, monitoring, researching, packaging, resupplying, expanding, increasing my database etc etc
and in the next couple months will have several accounts with 100% and TRS badges, no small feat I will tell ya. at least in the numismatic categories
effective time management
detailed analysis for every aspect of my business - dozens of spreadsheets
creative solutions
research research research for everything including supplies, tax benefits etc etc
of course these things can be applies to selling at coin shows, shops, auctions, collectors. i guess you can call it a partial formula to financial success
.
<< <i>Yeah, I love bidding the wars. I sold a 1958 PCGS PR67DCAM proof Frankie recently for over $2300, which is way more than the inflated PCGS price guide value.
Russ, NCNE >>
I'd love to see Russ walk into my local B&M with that nice Franklin to sell...
B&M guy: (Frowning, pulls out 1993 RedBook) "Proof 1958 Franklins... I could go as high as $40 on this..."
<< <i>Good grief. Another ostrich. >>
Aren't you an Emu bird?
many friends have told me is that
the fees could be has high as 15%
which seems a little steep !!!
buffnixx
a.k.a "The BUFFINATOR"
<< <i>at kimber 45acp
If an item is shipped and has no proof of delivery, or is proved to have never been delivered, the buyer gets a refund. Paypal takes/freezes that amount from you. So in short unless you insure for double you are out the coin, and the buyer is out nothing.
A while back it was a scam buyers would run. If the package came just shipped, but no delivery confirmation or anything, they could simply claim it never arrived and they would get the money back. It happened to me on a couple under 100 dollar items in the same week. (we are talking used DVDs, video games etc, would never send a coin without signature confirmation)
I also have had several people e-mail me a week after an item has been delivered and signed for. They ask do you have a tracking number, my item hasn't arrived? I respond yes I do, and according to what I have it was delivered a week ago and you signed for it. They still opened a case but with delivery confirmation they side with the seller. >>
No matter what you insure for, if you actually have to file a claim, the USPS will require that you proove the valuevof the item. They will only pay what it's worth, not double.
<< <i>I've never sold on ebay, but what
many friends have told me is that
the fees could be has high as 15%
which seems a little steep !!! >>
All said and done, with no discounts and "free" shipping, total cost of selling is about 10%.
<< <i>
<< <i>I've never sold on ebay, but what
many friends have told me is that
the fees could be has high as 15%
which seems a little steep !!! >>
All said and done, with no discounts and "free" shipping, total cost of selling is about 10%. >>
eBay just charged me 11% on the 25$ item I just sold. Then PayPal took anther 3% and the postman wanted $1.64 to ship the bubble mailer containing the slabbed coin that PCGS price guide said was worth $3.00.
Yeah eBay is a total waste of time unless you actually want to sell something for more than it cost sometimes.
.
<< <i>Actually your cost to sell on e-bay are around 13%...............with pay-pal and shipping...........for some reason e-bay takes more for less(dollar amount) thinking those sellers do more volume(my guess)...........I can't gripe about fees as about 40% of my sales end up as off site transactions which I would not have had if the items were not listed for sale..............and I mine my sales when I have items that a previous buyer showed interest in............only about 20% of those use pay-pal the rest send checks or MO (no fees at all)............Until another venue becomes available that brings in the buyers (or lookers) that e-bay does then they have a captive audience and that would take some very deep deep pockets to make that happen.............IMO >>
Sorry, I should have mentioned that I sell primarily more expensive items. I just don't bother with many sub-$100 items. Most of what I sell are $500 - a few grand. I've found that all said and done the total fees + shipping usually adds up to about 10% pretty consistently.
It used to be that auctions were cheaper. Now the fee structure favors fixed price a bit.
One of the things (amongst several) which has really ticked me off about Ebay in recent times are the new requirements to be a Top Rated Seller. I sell, on average $30-$35K/year on Ebay. After selling for nearly a decade, I have 100% Pos. FB and all 5/5 DSRs. I used to be a Gold PowerSeller and LOVED the FVF discount + free shipping discount.
Now, despite that I far exceed all requirements to be a Top Rated Seller with the max (20%) FVF discount, I'm not because I don't sell 100 items/year. I know that I should just sell some cheap stuff just to get the numbers, but it's a real pain. Really ticks me off. I make a LOT of money for Ebay, have NEVER had a single policy violation or less than 5/5 DSRs for over 10 years but, for all of this, I get nothing simply for not selling 100 items/year. Makes no sense.
It's just amazing how the fees have gone up over even the past 5 years. The FVF on shipping is a total joke. "Buyers LOVE free shipping" they say. No kidding. They've love free gold too. It's just that it's not free. Total B.S.
I agree that where Ebay is really the way to go is on higher priced items which were bought for much less. I sell almost exclusively moderns. The flips on items like ATB Pucks, 25 th Anniv. sets, and the huge profits on some of the great issues of '08 is where Ebay really shines. You just can't get nearly the kind of money from a B&M for that stuff as on Ebay. For bullion, with no FVF discount, you get killed.
One more thing....
I had never thought about a store until reading some earlier posts in this thread. I sell mostly fixed price. I've spent the past half-hour reading about the Ebay stores. For my, I just don't see where the FVF savings is that's of any consequence. What am I missing here? Thanks for any info.
<< <i>I had never thought about a store until reading some earlier posts in this thread. I sell mostly fixed price. I've spent the past half-hour reading about the Ebay stores. For my, I just don't see where the FVF savings is that's of any consequence. What am I missing here? Thanks for any info. >>
FVF are actually HIGHER for Store sales compared to auction-style listings; FVF is not the reason to choose a Store.
It depends how many items you have for sale at any given time. If you're a low-volume seller, than a Store will probably not save you money, but if you have a few hundred items you're trying to sell, it can make a big difference in (1) listing fees, not FVF, and (2) convenience features (auto-relist, auto-feedback, auto notifications, etc.).
I haven't done an actual auction-style listing in years; too much downside risk especially in turbulent times, even more so if what you sell is extremely esoteric and/or has a narrow target audience. The wrong eyes or not enough eyes looking during that 7-10 day window could hose you bigtime.
I only list Buy-It-Now with Best Offer. It's worked for me for ages...
1/2 Cents
U.S. Revenue Stamps
<< <i>With the exception of bullion, and only then when your local dealer pays well, eBay still rules, fees and all. >>
i agree. why take nice slabbed classic coins to a local yokal and get offered two grades down? NO way Jose!!