Ebay's 12 hour before auction cancelation rule.
leothelyon
Posts: 8,467 ✭✭✭✭✭
As I understand this if ebay still has such a rule, it leaves the seller at a disadvantage if the market is not supported for certain coins/series.
What's your input on that? Is it fair? How many times can a seller take advantage of this rule?
What's your input on that? Is it fair? How many times can a seller take advantage of this rule?
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
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Comments
<< <i>As I understand this if ebay still has such a rule, it leaves the seller at a disadvantage if the market is not supported for certain coins/series. >>
The seller sets the opening bid and can use a reserve if so desired. Where is the disadvantage?
<< <i>
<< <i>As I understand this if ebay still has such a rule, it leaves the seller at a disadvantage if the market is not supported for certain coins/series. >>
The seller sets the opening bid and can use a reserve if so desired. Where is the disadvantage? >>
Bingo! There are tools there to let the seller set their price. If they want to be cheap with the listing fees, or play games, then they take a chance. Else, just set the price/reserve and go from there.
I know that when I have sold and didn't want the risk, I would do a BIN or set the starting price at what my comfort level was. Other items, I would start at $0.99
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
<< <i>
<< <i>As I understand this if ebay still has such a rule, it leaves the seller at a disadvantage if the market is not supported for certain coins/series. >>
The seller sets the opening bid and can use a reserve if so desired. Where is the disadvantage? >>
If I use a reserve for 50 auctions for coins that sell for under $25, I would need to sell at least 4 coins just to recover the $100 in reserve fees. I would say, reserves, could become a problem.
But getting back to the 12 hour rule, reread my first post.
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>If I use a reserve for 50 auctions for coins that sell for under $25, I would need to sell at least 4 coins just to recover the $100 in reserve fees. I would say, reserves, could become a problem. >>
If you perceive reserves to be a problem, don't use them. Problem solved. You're welcome.
<< <i>But getting back to the 12 hour rule, reread my first post. >>
The one where you don't appear to be sure eBay has a rule you think might present a disadvantage to a seller?
In honor of the memory of Cpl. Michael E. Thompson
that one was 2k or best offer.
everything else sold (over 520+) on ebay, was ALL .99 to start.
never lost by doing so, but I would second guess that now doing
business on the bay. I do not miss selling there. I pretty much set
a price and sell here on BST
Go BIG or GO HOME. ©Bill
The item is lost, broken, or otherwise no longer available for sale.
You made a mistake when creating the listing.
They should include another that allows for cancellation perhaps automated when there is no or little market activity for that coin/series 12 hours or more before the end of the listing.
If bidders are seeing auctions they're following ending early, this just might send them the message to bid early and stop waiting around with snipe bids to get a coin on the cheap.
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>I would think if the market does not support certain coins and series that the seller should not offer those pieces into the market without a realization of the likely outcome. >>
One of the ways I gauge that, is by searching past sales for the last 15 days to see what has sold. And there are coins with higher demands than others, I'm aware of that.
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>They should include another that allows for cancellation perhaps automated when there is no or little market activity for that coin/series 12 hours or more before the end of the listing. >>
So people who have entered bids through a sniping service might find the auction they're interested in has been ended automatically before their bid was entered? Yeah, that'll encourage them to bid earlier. Or just quit bidding altogether.
Be careful what you wish for.
Anything that drives away the product is bad for the bottom line of ebay.
I have been selling for at least 8 years...never had an auction...all BIN, always get the price I want..
<< <i>Maybe I'm miss understanding, but just do a buy it now best offer.
I have been selling for at least 8 years...never had an auction...all BIN, always get the price I want.. >>
or a higher starting price auction.
otherwise, TomB has your answer.
if you are selling into a thin market, you want the ability to decide to end early.
who is to say what "thin" is ? and "not enough activity?"
that'd be so, so abused.
<< <i>Remember the days when ebay showed the number of bidders on the first page? That would entice others to jump in on the bidding. But ever since they changed that, there's another 6 clicks of the mouse to see the market activity on a coin. >>
I don't know how you're doing it, but when I look at eBay, it shows the number of bids (if any, of course) on each of the auctions in a particular category on the first page.
<< <i>Most listers have fifty auctions that they can start at any price free per month. Put the reserve in those or do not list them as auctions use the BIN listing. A store format is best for more than fifty BIN listing per month IMO.
>>
Yes, I'm also aware of the 50 freebies and including another poster, the BIN has been the way I've used ebay.
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Thats the downside.
On the upside, I get 12 free pictures.
What eBay really should have is a 30 second last bid timer to combat the snipers.
The name is LEE!
<< <i>What eBay really should have is a 30 second last bid timer to combat the snipers. >>
Or go for the "pay to bid" model I see advertised ad nauseum on TV.
60 years into this hobby and I'm still working on my Lincoln set!
bidder is often someone who comes in toward the end of the bidding. He just lets the little fish
flop and drop. Then he bids and wins. Same here. Why push the price up when you know that
the early part of the auction is a feeling out process. Tire kickers.
bob
Using a "reserve" on ebay is NOT a feasible option, IMO.
<< <i>What eBay really should have is a 30 second last bid timer to combat the snipers. >>
Sniping is a way of life on eBay and well liked by buyers.
As pointed out elsewhere in this topic, buyers are what eBay "sells".
Anything that would upset the status quo and negatively effect eBay's bottom line is not likely to happen.
<< <i>I would think if the market does not support certain coins and series that the seller should not offer those pieces into the market without a realization of the likely outcome. >>
Ebay auctions are very hazardous for sellers right now. I've said this before. Because there is no timing or publication of ebay auctions (like heritage or teletrade), and because some coins come through ebay so infrequently, many buyers have quit checking. So you may have a $500 coin that many people are willing to pay $500 but if they don't see it (or if only one sees it) then you are left selling it to someone who is buying it only because they know it is undervalused and they can resell at a profit. It might go for $250.
Except for popular, hot, or widely traded coins, I recommend using BIN.
I do not recommend, even without the 12 hour rule, a strategy that involves ending a listing because you aren't happy with the bidding. Many serious buyers snipe.
--Jerry
<< <i>Using a "reserve" on ebay is a joke. I never bid on "reserve" coins and I don't even try. Using a "reserve" on ebay is NOT a feasible option, IMO. >>
I agree. Nobody likes reserves so I use BIN with b/o. --jerry
Example is i was selling a book i knew was in the 40/50 dollar bracket value wise from watching previous auctions , i let it run and with two minutes to go it was sitting at 7 dollars and i was slightly nervous but ebay isnt for the faint of heart , i refreshed my page and as they do my computer took its time , the auction had ended at 47 dollars. A tidalwave of bids in the very last minute.
<< <i>I begin every auction at 99c regardless of known value. Ebayers have never let me down , its as if they will not let a bargain pass nor let anyone else get one.
Example is i was selling a book i knew was in the 40/50 dollar bracket value wise from watching previous auctions , i let it run and with two minutes to go it was sitting at 7 dollars and i was slightly nervous but ebay isnt for the faint of heart , i refreshed my page and as they do my computer took its time , the auction had ended at 47 dollars. A tidalwave of bids in the very last minute. >>
I have sold PCGS graded coins for 99¢ too many times to be able to believe they will always come through......
There was decent bidding before i got what i thought a nice offer on all 4 to end the auction accompanied with a sweet story about decorating a newborn babies nursery ...yeah...i was still ebay naive in those days so i accepted the offer. Within months a big revival of Beatrix Potter erupted both in the US and the UK and it was only then did i realise what i'd sold...oh well..i draw comfort thinking/hoping the story about the baby was true.
<< <i>What eBay really should have is a 30 second last bid timer to combat the snipers. >>
Now is that because the final price was higher with the snip bid or because the the shill bid did'nt get placed in time.
<< <i>
<< <i>I would think if the market does not support certain coins and series that the seller should not offer those pieces into the market without a realization of the likely outcome. >>
Ebay auctions are very hazardous for sellers right now. I've said this before. Because there is no timing or publication of ebay auctions (like heritage or teletrade), and because some coins come through ebay so infrequently, many buyers have quit checking. So you may have a $500 coin that many people are willing to pay $500 but if they don't see it (or if only one sees it) then you are left selling it to someone who is buying it only because they know it is undervalused and they can resell at a profit. It might go for $250.
>>
Why not set the opening bid at or close to the amount you feel is the minimum you can accept for the item in question?
You may not get it but at least you won't lose anything.
They don't like those "Go Fish" auctions, or "Mystery Coin" listings no matter the quality of the coin or seller.