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(done- irrelevant now- thanks) Poll involving a hypothetical situation (call it a happy dilemma)
lordmarcovan
Posts: 43,811 ✭✭✭✭✭
I'll leave you to guess just how "hypothetical" this really is. 
OK, let's say you bought an old silver coin for 15 bucks.
It's a problem coin, polished and scratched. But it's a dollar sized coin, so you basically got it for less than melt.
And you know you got yourself a lucky cherrypick, because it's a popular type and would likely have been a $200.00+ coin without the problems.
You were mentally figuring you'd hang it out on BST for $65.00 as-is, but since more than one person PM-ed you about it before you even got around to that, you figured you'd maximize your potential profits and stuck it on eBay instead.
Then a thunderstorm knocked out your rotten *@#% satellite DSL connection, so you were in the dark a while.
A few hours later, you logged on and found that the coin, which you had started off at 99 cents with no reserve, had picked up one bid: the starting bid of 99 cents. No telling how high that person's proxy bid was.
Then you noticed somebody had also sent a question. You opened your messages, expecting the usual lamebrained "is it real" question, or something like that.
Instead, it's an offer to buy the coin at $125.00, "no questions asked", if you'll end the auction then and there.
You were sorely tempted (remember, you paid 15 bucks for the thing, and were prepared to sell it for $65.00), but the auction is new and who knows what could happen. You don't think you'd get more than that $125.00 for the coin, and might be lucky to get anywhere near that if you turned down the offer, but then again, you didn't originally think you'd get more than $65.00, so ... well ... what?
Say "yes" to the mystery man, or stay the course and leave the auction up? He could always BID his $125, right?
Hmmm...
OK, let's say you bought an old silver coin for 15 bucks.
It's a problem coin, polished and scratched. But it's a dollar sized coin, so you basically got it for less than melt.
And you know you got yourself a lucky cherrypick, because it's a popular type and would likely have been a $200.00+ coin without the problems.
You were mentally figuring you'd hang it out on BST for $65.00 as-is, but since more than one person PM-ed you about it before you even got around to that, you figured you'd maximize your potential profits and stuck it on eBay instead.
Then a thunderstorm knocked out your rotten *@#% satellite DSL connection, so you were in the dark a while.
A few hours later, you logged on and found that the coin, which you had started off at 99 cents with no reserve, had picked up one bid: the starting bid of 99 cents. No telling how high that person's proxy bid was.
Then you noticed somebody had also sent a question. You opened your messages, expecting the usual lamebrained "is it real" question, or something like that.
Instead, it's an offer to buy the coin at $125.00, "no questions asked", if you'll end the auction then and there.
You were sorely tempted (remember, you paid 15 bucks for the thing, and were prepared to sell it for $65.00), but the auction is new and who knows what could happen. You don't think you'd get more than that $125.00 for the coin, and might be lucky to get anywhere near that if you turned down the offer, but then again, you didn't originally think you'd get more than $65.00, so ... well ... what?
Say "yes" to the mystery man, or stay the course and leave the auction up? He could always BID his $125, right?
Hmmm...
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mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
Unlike AlteredTone almost every off line offer I've received on eBay was less than the coin eventually sold for though there were exceptions...
I had a somewhat similar situation about a month ago. I was selling a very old baseball mitt that was in excellent (as near as I could tell) condition. I know absolutely nothing about old baseball gloves. I saw completed auction results of various/somewhat similar, mitts sell in the $60-$250 range.
So I started the auction at $199. Within a day it had one bid and about a dozen watchers. I got a message asking to end the auction early to sell it to them for $325. I politely declined. There were multiple bidders up to around the $300 mark, and then two people bid each other up to a final amount of $635!
I had no idea. Guess I rely on Krause too much, and/or I'm too conservative in my grading? And I bought it from a friend who's a knowledgeable guy, a professional dealer, and a forum member, actually. (Not to worry- I'll be throwing him a crumb later, if he wants one.)
(Yes, this is not so hypothetical, and yes, the coin being discussed is a Darkside coin, though one that circulated heavily in colonial America.)
But I knew this thing was a sure bet when I bought the lot that included it. Couldn't lose.
I never expected to be offered over twice the price of the entire lot just for that one coin, though.
8 Reales Madness Collection
I'm starting to wonder if I should stay the course. So far that option leads (narrowly) in the poll.
This is interesting.
Whether I do so to this guy who so obviously wants it, or whether I stay the course and let it run the rest of its nine-plus remaining days, we shall see. Regardless, I'm gonna weigh that decision at least until the end of the night.
I'm sure you'll get $400+ on eBay slabbed easy.
The question with those kind of people (who want you to end an auction - dont think ebay lets you do this now) is will they really pay or just flake out?
I had one thread I started, and my initial post showed up second behind the first person who replied to it!
My PM history is starting to do the same thing.
I hope these creaky old boards don't up and collapse on us one day!
8 Reales Madness Collection
World Collection
British Collection
German States Collection
8 Reales Madness Collection
<< <i>Bob, any chance you can post a close-up of the 8 in the date? I think you might have either an 8/7 or 8/6, which would turn it from a common coin into an R3 or R4, respectively. >>
And since the cat's out of the bag and we're not so "hypothetical" anymore, this is the mystery coin.
8 Reales Madness Collection
<< <i>Looks like a normal date, Rob. >>
I figured as much. I took a loupe to it before I scanned it and didn't see any kind of overdate. But I wasn't entirely sure of the diagnostics. Thanks for giving it a look.
I'd let the coin run - as long as at least two people think they see something, you never know where the coin will end up.
Check out the Southern Gold Society
<< <i>I have sold a lot of stuff on ebay. Been asked to do that many times. Have never agreed, and never regretted it. Always got more, every single time. >>
Same with me.
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>Didn't you get cherrypicked once before (a CBH, as I recall)? >>
Indeed I did.
And don't think that hasn't been on my mind.
I told the $125 offer guy I'd think on it and he upped to $140 with no further prompting.
I told him to stretch to $165 and I'd end the auction early. (I happened to know the current high bidder at the time and would have offered to make appropriate amends to him.)
The guy countered with $150. I told him I'd eat dinner and think about it and be right back.
After some ramen noodles and hard thinking, I decided to stick to my guns. $165, no more, no less.
He passed and said he'll look for a better one with fully struck lettering and rosettes. I told him I couldn't fault him for that decision, but would welcome a bid anytime. As of this posting, the coin is still nowhere near his initial $125 offer, and may never reach that, but even if it doesn't, I stand to make multiples of my original investment, so it's a no-lose proposition for me.
The auction rides on, unless some truly insane person with a lot of cash waves a fistful of money at me, haha.
Best wishes with your auction!
Eric
You lucky rascal.
Too many positive BST transactions with too many members to list.
Skies the Limit.
I'm going to guess Final Price of $326
$102.50 right now with 9 days left.
Too many positive BST transactions with too many members to list.
So I knew this piece was a winner the minute I cherrypicked it from a friend, but it has already exceeded my expectations.
(BTW, I offered to throw that friend a courtesy kickback but he declined and congratulated me. Classy of him. I'll probably still send him something. It's not for nothing that we've been swap partners for twenty years. He said he meant to "leave some meat on the bone" for me, but maybe not THAT much, haha.)
I'll now cease or at least slow down my discussion of this since the auction is still live and I don't wish to be accused of spamming here. I promise that was certainly NOT the intention of this thread. After all, when I posted this poll, I was strongly considering shutting down the auction. Now, thanks to your advice and poll votes, it stands. Thank you all for your opinions and for preventing me from going off half-cocked in my exuberant state and leaving too much money lying on the table, as I have sometimes done in the past.
60 years into this hobby and I'm still working on my Lincoln set!
<< <i>It seems unfair to the people bidding on the item not to allow the auction to continue to it's scheduled end. If you had a BIN now, which you seemingly did not, then that would be different. There are two dealers I no longer bid with because of items that I had the high bid on and they pulled the auctions a day or two before they were scheduled to end. If you don't want to auction it then don't, it's just an ethics thing with me. But here in Texas (at least among the people I hang with) your word is your bond. I've done multimillion dollar contracts on a handshake, because the parties trust each other to let the lawyers work out the paperwork later. >>
I totally agree with this assessment-Your reputation is worth a lot more then money. Doing the right thing may cost money in the short term, but in the end run- you win. The coin may sell for more then you could ever imagine or may sell for the current bid of $125.
Once you start an auction you should finish it as planned.
A well known foreign coin dealer had a scarce variety that he did not detect up for auction as a regular coin. (I bought it). Some else bid a cheapy-do bid and asked if he would end the auction early and sell it to him at that price. The dealer's reply was--"No even if you offered me thousands of dollars, it would not be fair to everyone else." (He bid like $15) which a common non-variety date of this coin would sell for, but this variety was worth over $200--I got it for $215 or so-so no super-bargain, but still a good deal-maybe I can sell it for $300 someday.
When I sell on eBay I never close auctions early for monetary gain. I only closed one eBay auction ever, only because i cherry-picked my own auction. I had a die-clashed flying eagle cent up that I did not learn about until the auction was up--After I learned what I had, i decided to keep it.
Set your policy and stick with it--don't be wishy-washy.
Bob
Bob
<< <i>I have sold a lot of stuff on ebay. Been asked to do that many times. Have never agreed, and never regretted it. Always got more, every single time. >>
Amat Colligendo Focum
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<< <i>I misclicked my vote, meant to say leave the auction up and let it run. In my experience those "I'll give you $xxx right now if you end the auction" offers are often from people who are anticipating having to fight off other bidders far beyond that price.
I had a somewhat similar situation about a month ago. I was selling a very old baseball mitt that was in excellent (as near as I could tell) condition. I know absolutely nothing about old baseball gloves. I saw completed auction results of various/somewhat similar, mitts sell in the $60-$250 range.
So I started the auction at $199. Within a day it had one bid and about a dozen watchers. I got a message asking to end the auction early to sell it to them for $325. I politely declined. There were multiple bidders up to around the $300 mark, and then two people bid each other up to a final amount of $635! >>
I got exactly such a note two days ago for a coin on the Bay. Guy says, "I'll give you $900 as a BIN." It's up to $898 today with five days to go. Stay the course and good luck!
Best Regards,
George
Certainly the entertainment value is worth leaving it up at auction. You can watch it every single day - gives you something to do!
"Got a flaming heart, can't get my fill"
<< <i>No disrespect but, could this coin have been repaired? (hole filled?) or am I seeing things?.. Notice the area about 3 o'clock seems devoid of content and uneven and so does the same area at 9 o'clock on the reverse. These are corresponding areas on the coin. ?? >>
I dunno, but apparently that is not uncommon on these. The more discriminating collectors look for pieces that have full lettering and rosettes, which this coin doesn't, probably because of the strike. I see no evidence of plugging.
<< <i>What a great way to hype your EBay auction..... >>
Yeah, speaking of "plugging", haha. I promise that was not the intention of this thread, which is why it was "hypothetical" to begin with, even though I knew somebody would likely guess the coin. If anyone is offended by this, I will delete the poll and the thread title so this will sink. The poll is irrelevant now since the auction will run its course.
<< <i>Lord M:
Certainly the entertainment value is worth leaving it up at auction. You can watch it every single day - gives you something to do! >>
You betcha. It's been a while since I had a raft of lively auctions up. I had forgotten how fun it can be to watch. Over the past few years I've done a lot less eBay, preferring BST. The few single lots I have put up have had mixed results, and I've taken some knocks.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.<< <i>The few single lots I have put up have had mixed results, and I've taken some knocks. >>
As our great Syracusian once told me, at the end of the day, it's only the final sum which really matters.
Some will sell for 3x market and some for half. Hopefully you land in the black. If that doesn't work for you then BIN OBO.
Amat Colligendo Focum
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