No More Ebay
UMCane
Posts: 213 ✭✭✭
Coin collecting is not a short term (nor mostly long-term) investment vehicle. It's a hobby & a passion. Unless your business is buy/sell coins great. If you can handle the fees and pass them along more power to you. This is America.
But between Ebay & PayPal fees, one can throw away any small profit when upgrading a collection. Add in all the fakes, counterfeits and other drec, it's become a virtual waste of time and resources. My final purchases there were fill-in pennies for my grandson's collection.
I would rather pay a Heritage 17.5% fee knowing with 100% confidence that what I buy, especially at Signature auctions, is the best quality available. I also buy directly from DLRC. The prices are reasonable, you can negotiate, no fees and shipping is free. Can you ask for anything more? Collectors.com provides me with a solid base of what I want and the prices I can expect to pay.
But between Ebay & PayPal fees, one can throw away any small profit when upgrading a collection. Add in all the fakes, counterfeits and other drec, it's become a virtual waste of time and resources. My final purchases there were fill-in pennies for my grandson's collection.
I would rather pay a Heritage 17.5% fee knowing with 100% confidence that what I buy, especially at Signature auctions, is the best quality available. I also buy directly from DLRC. The prices are reasonable, you can negotiate, no fees and shipping is free. Can you ask for anything more? Collectors.com provides me with a solid base of what I want and the prices I can expect to pay.
"Just because you were born on 3rd base doesn't mean you hit a triple"
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Comments
``https://ebay.us/m/KxolR5
Why, yes, FYI "dreck" is spelled with a "K".
Why do bidders insist on saying they pay the 17.5% buyer's fee? This gets old, yet shows up month after month after month. Would anyone other than those bidding for the finest of rare coins at major sales like Newman or Pogue bid at an auction if they knew from the start they were 17.5% in the hole? I know I wouldn't. I've yet to pay a buyer's fee in my life....well, maybe once or twice when I forget to back out the bid on the floor for a lot I wasn't 100% prepared to bid on. I leave out all auction-house fees to the consignor to work out with the "house." When they start asking me for a 17.5% gratuity to enter the auction room, that will be my last auction.
Would it feel better to you if Heritage removed the buyer's fee (0%) such that all your bids would now have to be 17.5% higher than they were before to secure the exact same coin? Some newbie consignors might have their eyes opened up when they see a flat 27.5% consignor's fee (up from the previous "standard" 10%).
"Just because you were born on 3rd base doesn't mean you hit a triple"
``https://ebay.us/m/KxolR5
As to paying 17.5% (for numismatic items, it's up to 25% in memorabilia and pocket watches (jewelry)) at the big auction houses, I, like so many others, places that amount into the bid.
Nobody rides for free.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
You see? I'm so incensed that Ebay does not even deserve to have "Dreck" spelled correctly
A candidate for Post Of The Day!
An authorized PCGS dealer, and a contributor to the Red Book.
As to paying 17.5% (for numismatic items, it's up to 25% in memorabilia and pocket watches (jewelry)) at the big auction houses, I, like so many others, places that amount into the bid.
Nobody rides for free.
Au contraire, the vast majority of bidders (90-95%+) do ride for free if we eliminate their travel costs, viewing time, etc. They all rode for free when there was no such thing as a buyer's fee in the 1970's. It's no different today with BF's at 17.5%. Bidders buy coins. Consignors pay fees. The two do not mix....except for "mistakes" and "oversights." On all my auction consignments since the 1980's, I paid all the "net" fees to the auction house. No buyers ever called me up to "help out." I'm still hoping though.
Additional fees assigned by Ebay and other sources are a different story. Auction houses play by different rules....at least for now.
I personally like sifting through the "dwreck" on ebay, and liken it to american pickers sifting through piles of garbage to find that one nugget of joy.
Some might (successfully) argue that all I post photos of is "dreck"!
A while back, I built almost my entire Franklin FBL collection from GC. I sold that off to focus on smaller MS/PR 19th type coins.
"Just because you were born on 3rd base doesn't mean you hit a triple"
"Just because you were born on 3rd base doesn't mean you hit a triple"
Ebay is the cheapest venue for me to sell coins on. My total fees including paypal cost me 7%. It's also nice when ebay subsidizes some of my sales with the ebay bucks program. 10% is huge and I don't see how ebay can continue to do it!
Both of my accounts have a 5X ebay bucks offers going till tomorrow at 12PM Pacific Time!
``https://ebay.us/m/KxolR5
Heritage big money is not made on it's weekly coin or even its signature auctions. It's made on art, minerals, music and special memorabilia items. If you spend $2k on a coin at Heritage, the consignment & sellers fees are waved.
Well, I won't have to worry about that!
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
``https://ebay.us/m/KxolR5
For a casual seller (me) Ebay is a bad deal with too many fingers in the pie what is equally ridiculous are the prices some people put on valuable piece.
If you run a small business I guess the perks you get make it worthwhile. But where else can you buy a coin or win an auction with the caveat that the photo only represents what you may get.
That ain't right.
Cheers!
"Just because you were born on 3rd base doesn't mean you hit a triple"
That ain't right.
Cheers!
I have bought tens of thousands of coins off of eBay. Every single time the photo the seller posted was the coins I received.
David Lawrence Sells on Ebay!
Ebay is the cheapest venue for me to sell coins on. My total fees including paypal cost me 7%. It's also nice when ebay subsidizes some of my sales with the ebay bucks program. 10% is huge and I don't see how ebay can continue to do it!
Both of my accounts have a 5X ebay bucks offers going till tomorrow at 12PM Pacific Time!
I have no issues with ebay and find it interesting when people complain about it. They do my hosting for me, they built a platform that works most of the time, they provide more customer exposure than any other service in the world, fees are only 12%or less and many times much less when you get the list for free and ebay buck offers (I get offers every month), they make it easy to print shipping labels and handle business with USPS with tracking and discounts, if I don't feel like doing my listings i can have ebay do it for me, they alert me to many items I am interested in and even keep track of auction times for me. There is much more but really is all this not worth the 10% cost of doing business? For those that constantly get SNAD issues you must be doing something wrong as I have not had many issues with this, good images and a good description is all you need.
Photos: A majority of products on the internet are sold with generic photos when you consider the whole of the internet. Even with coins like Proof Eagles, Proof Sets, etc. Why would I take the picture of each one? Does that hamburger you get at McDonalds EVER look like the one in the AD? But with all other coins I cannot imagine buying with a generic photo. Why would anyone do that and expect anything good? Makes no sense.
eBay: Say what you like. If it was not for eBay I would be way more limited to what I can buy from clients. We have a "no-cherry picking" policy when we buy collections and estates. Yes, even down to the State Quarters. If it was not for eBay, I would have a very limited market for such things. And would therefore have to Cherry-pick. Not good for the customers. Question is not which is more expensive or not. The question is what marketplace is best for which item. I will always get more for white, CAC'ed morgans in an HA auction then I will on a eBay Auction. Why? I can only speculate and it does not matter really. I just do, so that is where they go. The 250 MS62 Common date Morgans? People love them on eBay for $59 a piece. I sell things on eBay that I had no clue people would buy. Gold plated State quarters anyone?
eBay Fees: Ya, not seeing it here either. I average somewhere around 7-8% all in. But you are right that it is more, if you are doing low-value items. But on the other side of that when I sell coins over the (I think) $4,600 amount (and there has been many) it is the least expensive game in town! I really do not get the whole buyer/seller fees. That is only really true when a coin is a significant rarity, the types of coins people have to have and there are no real set market prices. There is the amount the buyers pays, there is the amount the auction house keeps, and there the amount the seller gets. In terms of what the seller (me) gets in terms of percentage? Sometimes it's eBay, sometimes it is the other auction houses. Sorry no broad rules there.
In general: eBay is one of the safest places in the world you can buy coins. Who lets you pay 2 days later, let's leave feedback, makes sure you have 30 days to return an item for any reason, and if you feel swindled the seller has to pay your return postage. etc. That's the stuff that keep people coming and back and buying on eBay. And you can get a better deal where? Amazon would love to know your secret.
Not that they are perfect, last week I reported that when someone requested return shipping that I had to pay for do to a SNAD, and they never returned it. I had to eat the postage. Nothing perfect, but you have to look at this thing in segments with each having its place.
Ok, I'm done. Off the soap box I go.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I also have been selling on ebay for 15 years, a few coins, but mostly other stuff. BIG STUFF and little stuff. Today's shipments, all Classic Mustang, 1965 - 1968, 13 packages outbound, including 1 to Croatia (guy must have the only 1966 Mustang in the Country), 2 to Australia, 1 to Germany, and 1 to Sweden. I could NEVER get the visibility and sales without ebay.
I also have been liquidating my parents STUFF. For example, my dad had 8 Antique 1880's to 1910's English Postage scales. The little balance beam, with little brass weights. Local antique mall offered $20 each for them. I have sold 3 of them on ebay, for $150 to $270, 1 going to Israel, and 1 going to Singapore.
Stupid Stuff: Sold 2 of 4 of my sister's high school year book, for $25 and $28 each. My sister was BIG into gaming. I have sold several of her Dungeons and Dragon sets for $500 to just over $1000, and a CASE of 12 unopened Risk 40th Anniversary games at her store, for for $150 to $200 each.
My 13 year old son, attending an auction of Unique Performance (scandal company, shut down, made the Eleanor Shelby clones), bought a pallet of leather books, with their logo. He paid about $2 each, and hoped to get $5 each for his Boy Scout Activities. I told him it was like a Titanic or Enron, they are good because they are bad. The first book sold for almost $50 on ebay. He paid for 3 years of Boy Scouts, including 2 Philmont Trek's, by selling on ebay.
Looking at the advance copies of BLACK FRIDAY sales circulars, identified something's for the grandkids at TARGET and something for my son a Cabellas. Went on ebay, found in the daily deals, Target Gift Cards $200 for $185 + ebay bucks, and Cabellas $50 card for $40. Although it is only $25 net savings, I was going to spend the money anyway, so $25 stays in the pocket.
I figure my costs around 10%. I try to break even on shipping (nothing like sending a Cast Iron 4 barrel intake manifold to Poland). I would rather pay 10% on a $200 sale, than pay 0% and sell the same thing for $25 at a garage sale.
I have people and restoration shops sending me stuff, to refinish, based on what they see me selling on ebay. This is a TOTALLY unexpected venue that I am just starting to develop. Imagine 50 year old, rusty, greasy, grimy, crudded up car parts. This is what they look like when I am done: 301804240598 and 321893489434 (just put the number in the ebay search box), and since probably no one here would ever buy it, this is not an ad.
Why do bidders insist on saying they pay the 17.5% buyer's fee? This gets old, yet shows up month after month after month. Would anyone other than those bidding for the finest of rare coins at major sales like Newman or Pogue bid at an auction if they knew from the start they were 17.5% in the hole? I know I wouldn't. I've yet to pay a buyer's fee in my life....well, maybe once or twice when I forget to back out the bid on the floor for a lot I wasn't 100% prepared to bid on. I leave out all auction-house fees to the consignor to work out with the "house." When they start asking me for a 17.5% gratuity to enter the auction room, that will be my last auction.
Would it feel better to you if Heritage removed the buyer's fee (0%) such that all your bids would now have to be 17.5% higher than they were before to secure the exact same coin? Some newbie consignors might have their eyes opened up when they see a flat 27.5% consignor's fee (up from the previous "standard" 10%).
And you will be doing it well enough into the future I'm afraid. People just don't seem to understand the net.
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
We all know that DRECK is dreck. Variety is the spice of life , too.
And a hoarder isn't always a collector. That guy (collector , cherry picker, numismatist, or investor) waits like a lurker, who searches and searches. Waiting to pounce. Because half the fun is LOOKING, finding and acquiring (or accumulating).
The other half the fun is dealing with nice people along that route and hopefully making a small profit.
Reality for me is this : We are all "collectors" of something or other. I'd rather only BUY on ebay, but am not opposed to any other venues with coins. I support the hobby and business with my participation, not my feelings.
``https://ebay.us/m/KxolR5
selling, though I have some friends that do a lot of sales on ebay. Some have been grousing
about the fees lately. I sometimes look when I am interested in something away from ebay,
just to check what is out there. Found a crystal mug I paid $2 for at a yard sale.... selling for
$40 bucks on ebay.... Cheers, RickO
Just got another eBay score
My YouTube Channel
When I'm looking for a "special/legacy" piece. My first stop is DLRC and I know they sell heavy on Ebay. But buying from DLRC allows me to use my Amex and stack up some serious miles. I've received some generous discounts from them over the years on my offers.
New rule....
Never discuss, politics, religion & Ebay.
It works for many, enjoyed by most, timer waster by a few, and has a handful for thieves.
That about sums it up.
We all have our favorite spots and processes. If I offended anyone, that was not my intent. Have a happy Thanksgiving everyone. I plan at being at FUN in January...anyone else going?
"Just because you were born on 3rd base doesn't mean you hit a triple"
If I'm buying I'm just going with true auctions and a return policy. Anyone sending a cleaned coin gets it back. Easy game.
willling to do so. Some just want to sit back and by their coins in Hertz or Avis slabs. But I think they are missing a lot.
a.k.a "The BUFFINATOR"
This isn't an eBay issue. It's a market issue. In a liquid market eBay is great. In an illiquid market, like now, eBay is not so good.
...FYI "dreck" is spelled with a "K".
Quite correct. But nowadays you can lose the "c": drek
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
I have a few such pieces and the accompanying documentation.
"Just because you were born on 3rd base doesn't mean you hit a triple"
"I have been buying and selling coins on eBay since 1999. I think they are great, you just have to be ableand willing to dig in and work whether you are buying or selling. Those who complain about eBay are really just not
willling to do so. Some just want to sit back and by their coins in Hertz or Avis slabs. But I think they are missing a lot. "
I take your comment as disingenuous bordering on rude. You and I must collect different types of coins. And what's this about "Avis & "Hertz"? Sarcasm is the last refuge of the imaginatively bankrupt. I rarely sell, but when I do, Ebay fees and & PayPal are nothing short of a ripoff while proper auction houses have better quality, and I have no concerns about scams & crooks. (I've never seen so many 1916-D Mercs at one place - Ebay.
If you're in the business to make money, fine, I'm happy for you. You have found your niche and I hope it is successful.
I do buy a lot from DLRC, but not on Ebay. Why use Paypal when I can collect loads of mileage on my Amex?
"Just because you were born on 3rd base doesn't mean you hit a triple"
re:
"I have been buying and selling coins on eBay since 1999. I think they are great, you just have to be ableand willing to dig in and work whether you are buying or selling. Those who complain about eBay are really just not
willling to do so. Some just want to sit back and by their coins in Hertz or Avis slabs. But I think they are missing a lot. "
I take your comment as disingenuous bordering on rude. You and I must collect different types of coins. And what's this about "Avis & "Hertz"? Sarcasm is the last refuge of the imaginatively bankrupt. I rarely sell, but when I do, Ebay fees and & PayPal are nothing short of a ripoff while proper auction houses have better quality, and I have no concerns about scams & crooks. (I've never seen so many 1916-D Mercs at one place - Ebay.
If you're in the business to make money, fine, I'm happy for you. You have found your niche and I hope it is successful.
I do buy a lot from DLRC, but not on Ebay. Why use Paypal when I can collect loads of mileage on my Amex?
I use paypal and all purchases are charged to my AMEX and I get my rewards!
``https://ebay.us/m/KxolR5