Considering all the overpriced coin listings on Ebay...
Coinstartled
Posts: 10,135 ✭✭✭✭✭
What happens if everyone decides to auction the trillion widgets?
Not all in one week, but say over the first quarter.
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Don't worry. It won't happen. Most of those sellers would rather die with their coins than cut the price and take a loss.
I agree with 291 fifth,
some of the dealers around here, will just as well die with them, they will not discount period.
they just keep hoping a fish comes along and bites.
we call them "Museum" Dealers.
I'd say they are more of a Collector/Dealer.
Take for instance what would it take for you to sell some of your coins?
Would you sell at these prices some of the ones you worked hard to put in your collection?
@Coinstartled asked: "What happens if everyone decides to auction the trillion widgets? Not all in one week, but say over the first quarter."
IMO, the three trillion coin collectors/hoarders would gobble all those widgets right up.
I have seriously been considering a complaint letter to ebay about this very subject. They give none of these folks any incentive to sell and If I were ebay- I would think its causing ebay to loose money. But maybe not? I see hundreds of free postings offered to me a non store front seller- do store front sellers get these free offers also ?
WS
I believe you are using that as a derogatory term, which I do understand.
I also believe that there are true "Museum" dealers that are exactly that and carry unique items that can not be found anywhere else.
yeah, no. it doesnt cost ebay a thing. it's the opposite. more coins on ebay is more profit. think of it this way- each dealer only gets so many free listings. if they take up those listings with coins that wont sell, they are paying higher fees on the ones that do.
theres no free lunch. the dealers are the ones that take the hit monetarily, not ebay.
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
But the fee is what, 25 cents, I am not a proponent of raising fees, but when I see 50, 1794 halves listed, things seem a bit bloated.
agreed. im just saying, ebay couldn't care less. they arent collectors. they are a marketplace for selling anything/everything. What is it to them if you post 50 1794 halves, or 100, or 10,000 2019 regular pennies? they couldn't care less.
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
bottom line: more postings == more sales == more profit. It's a probability thing. They dont care if things sit unsold. If they DID care, they'd get rid of BIN entirely and force 1 cent auctions on everything.
The point is, allow a marketplace, and the market figures it out eventually. Sometimes the stubborn old dealers have to die first, but hey, thats life anywhere in this market.
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
I know dealers who keep listing and listing and listing as if they will have more success if they clog up an already swamped system with more over-priced stuff. They could charge something on unreasonably expensive stuff. I've known dealers who list stuff at very high retail, I don't know what their point is.
There was a fellow a few years ago that listed mostly Morgan Dollars at twice market. If you made an offer he countered at a lower retail type price. Same coins over and over. Today if he has them they are worth about a third less.
Patience can be expensive.
the demand will show itself
Leave the dealers Alone!! Dealers have to eat too!
Well, if the dealers got into another line of work, then it would just be collectors selling to collectors and nobody would have to pay the overhead for the middleman.> @jdimmick said:
A fish would bite if the coins were choice for the grade and had eye appeal, but as it is, most of the Ebay dreck/widgets have neither.
Every week I will go through the sold coins and see if I missed anything. It has been five plus years and I haven't missed anything at all. Also, there aren't a lot of sold coins to look at as not much moves on Ebay.
For the sellers, they are using turd chunks for bait and that doesn't attract anyone or anything.
You do realize ebay's wonderful search engine doesn't allow you to see everything that has been sold...I do the same thing! More times than not the coins David Kahn auctions will not show up in the sold listings the next day....great example for my case and point! There are a ton of widgets selling on ebay...averaging 12,000+ every 3 months in Barber Half's. Blows my mind the kindda crap that sells for at or more than what I have listed. Ebay is not net neutral.
I'm doomed....
overpriced - your kidding lol. Bought a 2018 first day of issue label $5 AGE PCGS MS70 for $110 BIN below BV using eBay bucks. PCGS MV says $600. I will discount it in my store at $575.
I wonder what your post count would be if we removed all your anti-eBay posts.
If you don't like eBay, just stay off it.
Dont understand your logic. If something doesnt sell then ebay gets no money. End of story.
I am also losing interest in browsing ebay. There are coins for sale that have literally not budged in 10 years.
ACop - that is exactly what I am trying to figure out. If the stuff is not selling, how can ebay be making money. I did a lot of travel this year and for weeks and months at a time. I get home, fire up the computer to search eBay and the same darn stuff is there listed, over priced, and NOTHING has changed. How is that possibly making money for anyone? Years ago, the normal Lincoln/indian cent totals was approximately 9,000 in the summer, 11,000 listings in the winter. Today well over 100,000 - so is it just the listing fees ebay is making their money and not the sales? But if you're a store front and can list week after week with no fee, how does that help make money for ebay. No doubt about it, regardless of how they do it, they are loosing buyers like us.
WS
I hear that it's 10% or more with the fees and postage on top of that. So If the coin is $950 ........there goes $95. plus and then there is a profit for the dealer. So what did you spend $950 on ? A $700 coin? The costs are getting expensive. Si o No?
If your numbers are correct and the 11,000 listings sold at 3 percent sell through rate that’s 330 sales. If they now have 100,000 sell rate would only have to be .33 percent to equal 330 sales and possibly same revenue for eBay. Who knows what the numbers actually are but I would guess eBay is making more in fees with 100,000 listings than 11,000.
Also all of those sellers with stores pay eBay a monthly fee so listings aren’t really free.
eBay has raised final value fees
For every new person that lists a free item that is a person who is actively on the eBay site that they can now show adds to.
As posted previously eBay doesn’t show us everything. They manipulate search of prior sales and current listings. They now have a promoted listings option where sellers can pay extra to have their listings show up higher in search results. We have no idea how many coins appear and are sold quickly.
I have had coins sell within minutes of listing and had coins I’ve had up for a year sell. But I try to lower my asking price every time I relist. No different than dealers at a show.
My Ebay Store
You have the forces of internet buying giving everyone access to more informed buying and ebay raising the seller fee to 10%. Ebay would have probably made more money if they kept with the old fees and sold many more items. Not only did they slow the flow with an unreasonable fee but shots themselves in the foot offering free listings.
@keets ....'Museum dealers'....Excellent label....I used to see them at shows in the Seattle area ....always the same inventory... very high prices...never see them selling. It was my opinion that they came to the shows just for the social scene....They would not negotiate, and considered their price to be a 'steal'...yet it was overpriced by any standard one could consult. Cheers, RickO
This statement saddens me. Why do people continue to see the same stuff?
Filters
It is like going to a coin show with 100 dealers, going to a dealer that always has over priced junk, sitting down in front of his tables, and looking at every coin in every book for 8 hours, then complaining that nothing changes and everything is overpriced at a coin show.
For example, I tested my main search this morning. It is critical to me, as I buy and sell on ebay. Filters on (blocking 9 sellers from view): 27,178 listings. Filters off: 195, 154, roughly a 87% reduction. I sort by newly listed, so only the newest items are at the top. On an average day, 850 new items are listed. My page is set at 192, Gallery view, 4 items wide. I mark the first item I see, so I scroll through 4 pages. It takes less than 5 minutes, unless I find interesting items to deep dive. I normally look at least 2 twice a day, so in that case, it is looking at 2 pages.
I could knock off another 2000 or so by blocking 2 more sellers that clutter things up, if I was not too lazy to change the filter. I just happen to like the icon on this filter set, and will lose it if I change the filters.
About 2 years ago, I got an email from ebay asking me why I had blocked certain sellers from my searches. Basically, I replied overpriced and no changes, so ebay is watching the clutter. I have no idea what they do, but somebody is thinking.
eBay should just reduce fees very minimally for every relist at a lower price.
I believe coin peeps are notorious cheapskates and would opt for that.
More sales with minimal changes.
Especially fast on Ebay Buck promotion days.
And what would your post count be if you didn't respond to them all?
Actually, I'm more notorious for the Enhanced Uncirculated posts last year than anything eBay related.