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Why Sell on Ebay on Consignment?
TigersFan2
Posts: 1,442 ✭✭
Another post on here brings up the following question... What are the advantages of having someone else sell your coins on Ebay on consignment?
Ebay is amazingly easy for listing auctions. I fail to see what advantage there is in paying postage and consignment fees to someone else to sell your coins. What am I not understanding here? What benefit does a consignor bring over a person photographing his own coins and listing the auctions. Time is the only benefit I can think of.
Ebay is amazingly easy for listing auctions. I fail to see what advantage there is in paying postage and consignment fees to someone else to sell your coins. What am I not understanding here? What benefit does a consignor bring over a person photographing his own coins and listing the auctions. Time is the only benefit I can think of.
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You can't take good images.
You can spend the time it takes making more money.
Look at it this way; do you do all your own yard work, plumbing or oil changes? Why not?
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A dealer with an established reputation on eBay has a much better chance of getting higher prices on eBay than an unknown individual who is trying to establish a business there. As a matter of record, there have been many comments on the Web about how one should never buy anything of significance from an eBay sellers who has few transactions.
This is true I had coins I did not even think should go for $100 to $150 go for $250 to $350 I can't explain it I just by the coin no matter what isn't the hunt for a nice coin the fun of it not the bidding.
I can think of many reasons. Not everyone is adept at photography to the extent that their coins will be imaged well enough to elicit strong prices. Similarly, not all folks sell enough on ebay to garner a large following of collectors who are looking to buy coins from them and this large following can boost prices realized. Additionally, the fear of shipping something out incorrectly or using the wrong USPS service and then being on the hook for real or fraudulent PayPal chargebacks can make folks want to let someone else take on the risk. Lastly, regardless of all the rest, not everyone wants to use ebay for sales.
Look at it this way; do you do all your own yard work, plumbing or oil changes? Why not?
Good point.
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The biggest reason is probably that you're netting a lot more through a particular consignor (even with the fees) than you would selling it yourself. I couldn't sell a coin for $40 for whatever reason, but a particular consignor lists it and it goes for $250+. Consignors are usually more visible and have more traffic.
Yeah do not get that either I search and hunt for coins not just go to one sight and over pay.
-If you aren't a good photographer and you want someone else to handle it.
-You are a newbie on eBay. No matter how experienced you may be with coins overall, a seller with a stellar reputation looks better to a buyer than someone with little or no sales experience and low feedback. Plus, an established seller may have regular customers who look at his items specifically, which means more eyes on what you're selling than if you list yourself.
-You don't want to deal with eBay. It's a hassle and buyers can be a real PITA. You can pay someone like me to deal with the frustration for you (and yes, that does sometimes mean hour-long phone calls with eBay or PayPal).
-You don't want to deal with shipping. Shipping one package isn't that hard. Shipping 50-100 packages can be a bit of a drag if you don't have it down to a science. If you aren't selling regularly, I guarantee I can prepare shipments faster, and that translates to saved time for you considering how long I spend.
-High volume sellers pay lower fees and can pass those savings on to you. Some of the commission effectively pays for a lower rate, so when everything is totaled, you may pay less than the overall commission.
-Time. If you enjoy selling, go ahead and do it. But some people just prefer to put everything in a box, send it away, and pay a little bit for the time they save. It's no different than paying more to get something at a nearby store than taking the time to drive farther away to get it cheaper, or paying a delivery fee to avoid going out at all.
Jeremy
I can provide a few reasons which are, to some extent, biased, as all of my sales are from consignments.
-If you aren't a good photographer and you want someone else to handle it.
-You are a newbie on eBay. No matter how experienced you may be with coins overall, a seller with a stellar reputation looks better to a buyer than someone with little or no sales experience and low feedback. Plus, an established seller may have regular customers who look at his items specifically, which means more eyes on what you're selling than if you list yourself.
-You don't want to deal with eBay. It's a hassle and buyers can be a real PITA. You can pay someone like me to deal with the frustration for you (and yes, that does sometimes mean hour-long phone calls with eBay or PayPal).
-You don't want to deal with shipping. Shipping one package isn't that hard. Shipping 50-100 packages can be a bit of a drag if you don't have it down to a science. If you aren't selling regularly, I guarantee I can prepare shipments faster, and that translates to saved time for you considering how long I spend.
-High volume sellers pay lower fees and can pass those savings on to you. Some of the commission effectively pays for a lower rate, so when everything is totaled, you may pay less than the overall commission.
-Time. If you enjoy selling, go ahead and do it. But some people just prefer to put everything in a box, send it away, and pay a little bit for the time they save. It's no different than paying more to get something at a nearby store than taking the time to drive farther away to get it cheaper, or paying a delivery fee to avoid going out at all.
Jeremy
Thanks. Totally forgot about the high volume sellers paying a lot less in Ebay fees. That can make up for a lot of the consignment cost there if the things are selling for quite a bit.
Lincoln Penny - Local Pick Up Only
This seller's 163 feedback is almost exclusively selling the same penny for local pickup.
Seems against Ebay rules for buying/selling feedback, but there are lots of auctions like this. Not just pennies, but recipes and other stuff that can be emailed. Many of them state pickup optional along with free local pickup. But the intent is to exchange a feedback.
A dealer with an established reputation on eBay has a much better chance of getting higher prices on eBay than an unknown individual who is trying to establish a business there. As a matter of record, there have been many comments on the Web about how one should never buy anything of significance from an eBay sellers who has few transactions.
+1
But if you have some feedback and can take good pics I would bypass the consigners. Even if you are just average as long ass you can get 80 cents on the dollar you are better off staying in control of your stuff.
In the past I did not worry about feedback as long as ebay would step in and make me whole. I would read the fine print now before diving in to deep.
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A dealer with an established reputation on eBay has a much better chance of getting higher prices on eBay than an unknown individual who is trying to establish a business there. As a matter of record, there have been many comments on the Web about how one should never buy anything of significance from an eBay sellers who has few transactions.
Even if you are just average as long ass you can get 80 cents on the dollar you are better off staying in control of your stuff.
LOL. You said "ass you" instead of "your ass".
I agree.
Lance.
Try listing some auctions as a new seller saying "Grampa left me all his coins". I have seen some crazy prices.
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Don
Look at it this way; do you do all your own yard work, plumbing or oil changes? Why not?
Yes to the yard work and all auto oil changes. Still working on the plumbing skills. But, I'd probably consign to a 3rd party before I tried Ebay "solo." Why not just use a GC?
My son Justin (24) started on ebay with taking consignments as well as selling his own coins about three to four months ago (eBay handle Monstercoinmart).
Obviously, he is my son and I wanted him to get off to a great start so I consigned a bunch of coins to him. Many of them I would have personally listed on eBay myself a few years ago. Here is what I have witnessed / experienced...
1. Justin is speaking with eBay or PayPal for literally hours a day nearly 5 or 6 days a week on myriad topics. As many know, when ones volume skyrockets on eBay they often request voluminous backup information from the seller. Complying and getting eBay to approve the document turnover can take a ton of time and all the while a seller's funds are often entirely frozen in PayPal. Then, one has to deal with everyone who claims to have a problem with the coin they received (Justin has had a handful of cases with eBay already - all resolved in his favor). Again, funds are often frozen on these claims as well during the review process. So, as a side note, it is important to use an eBay seller with "deep pockets" who will not go broke or need to shut down when the funds are frozen for days or weeks.
2. The 10% standard fee to have someone handle the eBay process may or may not be worth it to you depending upon your personal circumstances. For me, having Justin sell these coins has freed up my time entirely. I just wrapped up nearly a month overseas (longest trip ever) expanding my personal business while my (consigned) eBay sales have been at record levels since I started on eBay in 1997. When I hear what he has to deal with involving eBay and PayPal, I just think to myself that I am glad it was not me. He is worth every penny!
Anyone desiring to consign coins to Justin - just Send me a PM and I will put you in touch with him. His photography is well above the norm already.
Wondercoin.
8 Reales Madness Collection
Tom
Up until last year I mowed my own lawn and shoveled my own driveway in the winter time. This year I hired a person to mow the lawn and clear my driveway of snow in the winter time. Saves my back and frees up more time for me to do what I want.
Fair question from the OP... My reply certainly looks like "a plug" for Justin, but one he earned...
My son Justin (24) started on ebay with taking consignments as well as selling his own coins about three to four months ago (eBay handle Monstercoinmart).
Obviously, he is my son and I wanted him to get off to a great start so I consigned a bunch of coins to him. Many of them I would have personally listed on eBay myself a few years ago. Here is what I have witnessed / experienced...
1. Justin is speaking with eBay or PayPal for literally hours a day nearly 5 or 6 days a week on myriad topics. As many know, when ones volume skyrockets on eBay they often request voluminous backup information from the seller. Complying and getting eBay to approve the document turnover can take a ton of time and all the while a seller's funds are often entirely frozen in PayPal. Then, one has to deal with everyone who claims to have a problem with the coin they received (Justin has had a handful of cases with eBay already - all resolved in his favor). Again, funds are often frozen on these claims as well during the review process. So, as a side note, it is important to use an eBay seller with "deep pockets" who will not go broke or need to shut down when the funds are frozen for days or weeks.
2. The 10% standard fee to have someone handle the eBay process may or may not be worth it to you depending upon your personal circumstances. For me, having Justin sell these coins has freed up my time entirely. I just wrapped up nearly a month overseas (longest trip ever) expanding my personal business while my (consigned) eBay sales have been at record levels since I started on eBay in 1997. When I hear what he has to deal with involving eBay and PayPal, I just think to myself that I am glad it was not me. He is worth every penny!
Anyone desiring to consign coins to Justin - just Send me a PM and I will put you in touch with him. His photography is well above the norm already.
Wondercoin.
Awesome! I looked up his auctions and he has very high quality photography. Good luck to him!