How useful is it for dealers in high end coins to have an eBay presence?
MrEureka
Posts: 23,892 ✭✭✭✭✭
Unless you're a high end dealer with an eBay presence, you can probably only guess. But for starters, please tell us if you've been able to buy much in the way of high end collector coins on eBay, and if you've established relationships with any dealers as a result of their presence on eBay.
For the sake of this post, let's say a "high end collector coin" is $500 or more, and is not a bullion item.
For the sake of this post, let's say a "high end collector coin" is $500 or more, and is not a bullion item.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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I have made connections with a couple dealers via ebay over the years and taken the relationship off ebay, but this represents well under 5% of my purchases.
The only high priced item I ever bought off eBay "cold turkey" was an 1864 Lincoln ferrotype. The thing about ferrotypes is the pictures of the candidates make the piece to a great extent. You can determine quite a bit about ferrotype from pictures. So I took the chance and won it for something like $800.
So far as I'm concerned it does not matter to me if a dealer is on eBay or not because I dislike eBay. If eBay does something about their Chinese counterfeit problem, I'll think more of eBay.
For those who don't know what a ferrotype is, here is the piece I bought.
I find it to be a great venue. I can list coins at fixed price for as little as 2 cents. I upload my listing direct from Excel, so it takes no time at all either. There is no downside risk. Most of my collectors coins that are more expensive are sold at shows, but ebay is consistantly worth the effort. Of course, I also sell a lot more coins there that are way less than $500, but it is a good avenue for me across the board.
merse
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
And the people that buy those type of coins know they can go direct and save.
What's really cool is bullion. you can list things for 99 cents and they will be bid upto full spot - dont worry. its a great way do dump coins for melt and not pay a local dealer 3 or 4 bucks less per ounce of silver.
<< <i>EBay is more a place to max out prices. i dont think too many high end pro dealers use it as a place to buy.
What's really cool is bullion. you can list things for 99 cents and they will be bid upto full spot - dont worry. its a great way do dump coins for melt and not pay a local dealer 3 or 4 bucks less per ounce of silver. >>
But don't the fees, shipping costs, and shipping hassles eat up the difference?
eBay is a 'virtual' coin show (and flea market)
Your website is a 'virtual' coin shop
Some people like to buy coins at a show, some people like to go to a shop. Some people (like me) do both.
<< <i>ebay isnt for the high end its for the low end >>
Not exclusively - six figure coins have been sold on eBay.
Some coin shops and coin shows I have been to are seriously low-end.
It all depends what the dealer makes of it. Some have low-end material, some are low-end dealers.
I've sold only two low-end coins off of BST, but referencing my ebay feedback helped make the sales.
YMMV
<< <i>ebay isnt for the high end its for the low end >>
Exactly. I searched Ebay high and low for great MS/PF MS65-67 type coins back around 2004-2007. Frankly, it wasn't worth the effort as nearly all the coins offered were
run of the mill quality. I don't see why it would be different today. The only exception I can recall was an 1857 PF66 ogh seated dime that I picked up by luck from a jewelry
who was offering it on behalf of a client. The coin was an awesome neon toner and no one else even bid as the auction ended in mid-afternoon during a Long Beach show.
But those kinds of deals were 1 in a 100 back then and probably 1 in 1000 today. If dealers have a presence in high end type material, usually it's stuff they want to dump or
flip. If the coins were really nice you'd have buyers already lined up for them and would not need an Ebay presence. For anyone looking for quality type coins I would think
Ebay becames very tiring after a while.
roadrunner
<< <i>In some circles, having an eBay connection is a detriment. >>
Folks will only know if someone tattles
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
Whether this is then transitioned to off-eBay sales is your call. If the items I were consigned had consistently known prices, then it might make sense for me to sell fixed-price at some point. Since there aren't established prices for many things that I sell, continuing to put them on eBay makes sense, and large volume ensures that I get not only search traffic, but many buyers who check my listings weekly for items in their area of interest, and occasionally outside it, too.
Like any other selling/advertising venue, eBay is one more tool that sellers should be able to their advantage. For some it means not using it, for others it means using it extensively.
<< <i>If it weren't for some High-end dealers (who list on eBay) I would never know they existed, resulting in me checking out their website.. >>
Same with me. DM Rare Coins (coinman1794 on Ebay) is one that sells a lot of high end material I met through Ebay. The first time I contacted him I was looking for one of the 1959 NGC graded proof-like Franklins. A very rare coin in PL, NGC has only graded 3 (2 in MS64, 1 in MS65). He said he would keep an eye out for one. I didn't think I would hear back, at least not anytime soon. About two weeks later he emailed and said he found one of the MS64. He sold it to me at a very reasonable price. That coin remains one of my all-time favorite Franklins.
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