Reasonable Ebay Asking Price
JGRC
Posts: 33 ✭✭✭
This thread is prompted by the numerous overpriced Ebay threads.
From a buyer's point-of-view, how do you determine a reasonable asking price for a coin? Where would you wish to buy an accurately graded, problem-free coin, a low-end coin, or a high-end coin? How do you adjust you desired price if the pictures are poor quality, average quality, or professional quality? Do you use a percentage of PCGS Priceguide, recent auction prices, CDN, or something else?
For the purposes of this discussion, let's limit the value of the coins to 30.00 to 500.00.
0
Comments
10% in back of PCGS uber scoober doober retail price guide.
It's tough as you need to do research along with some soul searching. As an example I had a older holder coin recently talk to me and it was priced 40% over current PCGS values. It looked nicer than what they are grading 2 points higher these days. Amazing in hand it was worth the premium which is 50% less than the 2 point higher gradeflation competitors which I could never buy.
In this market environment you need to forget about being generous or even "fair" in your offers. Buy with future prices in mind and those prices are likely to be lower for anything that is common or ordinary. The vast majority of US collector coins are common and ordinary. If a coin is truly exceptional then you can be more generous in your offer.
Ebay by far has the best prices on high-end coins.
I determine asking prices by a combination of recent price history (if there is any), how much I want it and how much I estimate the seller wants for it. For price history, I much prefer realized auction prices over price guides to the point I don’t use the latter.
The beauty of Ebay in the beginning, was its auction format. The auction style meant that the final price, usually was probably the market price also. This is how a seller and buyer found a "fair" price.
Now, sellers are not interested in finding a "fair" price, they want their price, regardless of how it conforms to reality, economics or common sense.
Here is my philosophy now with Ebay (which means I rarely am able to buy a coin): I only buy coins I like that are sold in auction style.
What happens when you buy a coin in auction style? If you go to sell a day, week or month later, you recoup most of your costs.
What happens when you buy a coin at someone's listed price? If you go to sell a day, week or month later, you will lose 20-50% of your money.
I spend more on BIN's then I spend on auctions.
The BIN deals are so awesome when you find them.
Ebay is just amazing,
Such a perfect platform for buying coins and also for selling coins.
Can you show us any early half, Bust half, seated half, barber half, walking Lib. half that you found on Ebay? How about any early quarter, bust quarter, seated quarter, barber quarter, SLQ you have found? What about silver dollars, gold of any denomination? Dimes, coppers? Please post your pics because you seem to have all the luck. I'll check back, you will have photos and prices to show I am sure.
I only search what I specialize in.
I find super awesome coins almost daily for a fantastic price on what I collect.
I am absolutely sure there are killer deals in your category. It does take WORK to find them. Do you feel like working?
I find nice coins now and then. Almost daily for you I see. Since I know Ebay, then I know that while you may like the coins you are buying, I also know that you will be upside down when you go to sell them.
Doesn't matter what your words say, I know what the truth is.
"I also know that you will be upside down when you go to sell them.", OMG I almost fell out of my chair laughing on that one.
Fact...... You make money in coins on the buy side, not the sell side. Once you understand that, you will rarely lose money on any coin.
Good for you Errors. I wish you much success then.
So if your making all this money buying coins... Why bother with all the aggravation of selling them?
I sell coins in order to buy more coins.
I am growing my business to have the very best most eye appealing inventory in the price range that I compete in.
I can't quite wrap my head around this logic though. Do I need to smoke a joint to get on the same wavelength?
Yes, It helps the mind.
It helps critical thinking.
It intensifies OCD, which when channeled can be extremely productive.
It makes you dream big.
.................
Yes, if you buy the coin at the right price, then the sell-side takes care of itself.
OK, you made it seem like there was a buy side, but no sell side. Gosh, I guess it never crossed my mind that if you buy a coin right you can later sell it for the same or more. All these years buying and selling on Ebay and I missed it.
Again, we are back to your declarations of success. Some people do have a knack for it. However, I am just extremely skeptical of yours.
You could show us if you had the time. Post a screen shot of one of your Ebay buys, with a screen shot of one of your Ebay sells. Even better, show us the coin you intend to buy on Ebay before you buy it, buy it, then show us your results when you sell.
"You could show us if you had the time. Post a screen shot of one of your Ebay buys, with a screen shot of one of your Ebay sells. Even better, show us the coin you intend to buy on Ebay before you buy it, buy it, then show us your results."
No way no how ain't gonna happen.
Business secrets are just that.
I just intensified my OCD
Nice. As much as I thought. No worries, You are having fun and success and that is all that really matters.
@JGRC welcome to the forum
IMHO eBay sellers mostly know the price of their coins so very seldom bargains can be found on BIN listing.
Do price check through CoinFact, recent auction (although this might be on the high ends), other on-line coins companies and the eBay itself.
I have some luck on the eBay auction by sniping a few using earned eBay bucks but IMO they are priced as the market dictates.
Happy coin collecting!
I've made offers as much as 40% under BIN that were accepted right off the bat to my shock and surprise. I go with the theory if the asking price is obnoxious I can make an obnoxious offer.
Great transactions with oih82w8, JasonGaming, Moose1913.
The structure of Ebay used to be that sellers via the auction format using auction style with multiple bidders, would set the most accurate price. Sort of like Adam Smith's "invisible hand".
Now, it is reversed. Sellers, set an inflated price (using the mechanism of true auction results) as their baseline with a lot of added premium.
Who goes to Heritage, Ebay and Great Collections to see past auction prices? I do. When you see those similar graded coins for sale on Ebay, you do not see those same auction result prices. You see something a lot higher.
Why fight against what is? Well, that is pointless. Acceptance brings clarity. A person can comment on the state of the market and a person can decide not to participate in the hobby (or to avoid Ebay), that is what is left.
There is definitely plenty of stale overpriced inventory on ebay, but there are also fairly priced coins mixed in.
Collector, occasional seller
I find that I simply cannot buy on E-Bay because everything is BIN and overpriced. Similarly, even with exceptionally eye appealing coins, great pictures, CAC stickers and fair prices my BIN's don't even get looks. The pool is polluted at the moment.
Offer what you would bid in auction. You never know...
I’m kinda with Errors on this. Find great deals all the time. 1941 proof walker listed as an business strike I won for $36 and a 1929-D Walking Liberty half for $177 that was in a NNC holder for ms65 that would probably grade out at ms63 are just two recent ones that comes to mind. Not going to post pics - don’t care that much about the argument.
Arco is mostly right on this subject. I seldom buy coins on EBAY but I do look a lot. A few years ago I purchased a gorgeous 1926 P SLQ in PCGS 58 with some purple edge toning for $ 70.00. No long ago, I purchased a 1930 S SLQ in PCGS AU 58 that was well struck (almost FH) that was totally original. I paid $ 36 under PCGS price guide with free shipping.
Never pay more than greysheet bid for a collectable coin in the price range you suggest ($30-$500). If you don't want to work to find the deals just wait for all those promotional coupons, bonus bucks etc. to achieve your price. If you are willing to work a little there are many, many deals to be had. Just takes a bit of effort to find them.
As far as bullion, no need to ever pay over spot and if buying stuff like 90% junk silver, pre-33 US gold etc. you can regularly get under melt.
Ebay is by far the best coin store on the planet.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Ok Arco, just for fun, I will play along ....
I just bought this coin as a BIN seconds ago for $25. If you want, I will sell this very cool coin to you for $50 right now.
I love it. Very cool.
Thank you, find your nitch and defend it.
Don't do errors as I refresh the ebay page about a thousand times a day for work.
Sounds like how I used to be.
You must have abs... Oops a finger of steel
opposite ... carpel tunnel
I have bought many coins on eBay, 99% at great prices. Even negotiating with sellers that do not have "make offer" option (sure that does not always work). Are there sellers around trying to get their retirement out of a common coin? Sure. But if the offer is reasonable (again, what I would bid), eBay is a fantastic platform to buy (as far as selling, the fees are very high but that is another story).
How about this for less than VF greysheet bid along with a VG 14-S for good measure???
Darrell, It is not showing up on the Ebay sell history. Did you buy it many months ago? Looks raw. Is it cleaned? If it doesn't holder and you auction it, what price do you think you will get?
Being on my ugly toned Franklin rampage lately, i have made several offers on ebay in which none have been rejected.
i believe if you make a fair and reasonable offer there's a good chance you will get it.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
TPG and CPG prices reflect what coins are currently trading for in the market place. I have no problem selling my material at this. However I won’t back off on opportunity move material quickly.
If you don’t like a dealers price then shop around. I may sell coins as low as bid plus 10 pct like at a show (blowout or stuff to bourse chairman, steady customers) but for eBay I need it to avg out to 30 pct margin for plan ROI.
Many are broke or wont pay the money. Eventually I will get my price. It’s like fishing, takes patience. On the bay some seek to negotiate, I may drop price say 10 pct below retail but that’s it. Otherwise go open a shop.
At eBay bucks time I get buyers trying talk me down / usually this means I have only one. Don’t let them talk u down, rob you of profit as they already getting huge discount from the Bay. Reasearch what other sellers asking for the item, how yours looks vs theirs, and what auction range was. Some will say dealer A’s coin cheaper to get you down but his is piece of garbage. I learned this on the bourse years ago. The will lie every way possible lol.
For material considerably below bid in May offer it at say CPG - BIN / Make offer up to 10-15 pct discount off retail if offer not go below auto decline.
It helps having the only one in the room like a really nice 1891-CC $10 PCGS MS61. I had 2400 in it (bid 2250 / Retail 2820) Priced at 2850 settled on $2700 back and forth w guy hot to buy. He tried every trick get it lower.
I usually never post anything I buy on ebay until it can't be seen!
Bought it 5 or so months ago? There was even an ebay 10% bucks offer about to hit but I bought it probably 30 minutes after it was listed. Ya snooze ya lose on the bay these days.
It's a very nice coin. As to wear and surfaces I would grade it a 45. I figure PCGS would grade it 40 due to the soft strike. It absolutely has not been cleaned!
I learned long ago since ebay stopped being net neutral to never auction on ebay unless I start it at what it should sell for. When you list coins with a very low start price and don't even get a view in 10 days says it all to me! That's why you don't see as many real auctions these days. Too many sellers, including myself have been burnt too hard! The last 99 cent start group I sold auction wise yielded me probably 40-50% of greysheet or 10-20% back of spot. The only reason I do auctions these days is to use the listings I get with my store. The majority of those are Sea Shells listed for what I want for them!
I still buy from eBay but I don't collect any US coins. If I did, I probably wouldn't do much buying there though it would depend upon what I collected if it differed from what I buy now.
The coins I buy don't have an established market value as nothing I buy comes up for sale often enough. I'll pay what I consider to be "reasonable" depending upon how badly I want it. Last year, I bought six coins with two graded. In 2017, exactly the same. Highest price for a raw coin was $875 and I have never seen one remotely close for this date and only one better for the denomination in 16 years. Most recent purchase was earlier this week for $250, also for a raw coin. Best example of this coin I have ever seen also.
The problem with ebay true auctions setting the "price" is that you have to hope or rely on more than one person or any people for that matter finding your auction. Unless a seller has a large auction following like Greatoning where they run weekly auctions you have to hope some bidders show up. Ebay manipulates search results and even if you are looking for that one item, you may not see it at the same time as everyone else. I don't buy much on ebay, but I do have at times purchased coins at auction for 50% of any price guide and even ebay auction results for similar coins then listed them BIN and sold them.
Make offer has saved a lot of sellers from the burning of ebay true auctions. I'll admit that many of the coins on ebay are overpriced, some of mine may even be. I usually know which coins I'm buried in at some point. If I get an offer that bails me out without too much pain I take it. Ebay is no longer an auction site IMO. They have been steering their platform away from it for a while now.
My Ebay Store
eBay buyers say they want sellers to offer items for auction with a minimal opening but many refuse to bid, preferring to make one snipe offer as the auction ends. Result? Sellers predictably respond by cutting back on auctions in favor of fixed price listings, where they don't have to worry about paying eBay and PayPal for the privilege of giving their items away.
People always wait until the last minute. If you watch Great Collections or Heritages auctions, the exact same formula applies. A coin gets to within 70-80% within an hour of its final and then in the last 5 minutes to 15 seconds the auction takes off.
I won't buy yours or anyone else's inflated Ebay fixed pricing, so if you want to sell a coin, get the price right or put it auction style.
I have sold hundreds and hundreds of coins auction style on Ebay, never once have I set a fixed price. I get up to a hundred or so viewers, dozens of watchers and dozens of bidders. Nowadays, I still get a lot of looks but the prices have dropped. That is NOT the problem of auction style, but it is the reality of the coin market. Sellers haven't yet accepted that coin prices have dropped a lot. Don't blame the auction style format for the reality in the collectable coin marketplace.
Auction style WILL tell you what your coin is really worth, almost perfectly.
I do get the price right, for the most part. All my listings are fixed price w/best offer, half of them sell at the listed price with half of the rest selling for offers of 90%+ of the listed price. And all of these for more than comparable auctioned items.
Auction style won't tell you anything useful if only one interested buyer sees it while it's listed. Not every coin is one that hundreds of buyers are looking for, many items are more specialized than that.
Buy: $85 Shipped https://www.ebay.com/itm/1967-1968-1969-Mustang-Cougar-V8-Spindles/253928265916?ssPageName=STRK:MEBIDX:IT&_trksid=p2057872.m2749.l2649 B
Sold: $315 plus shipping: https://www.ebay.com/itm/302964602089
Buy: 1965 Mustang A/C Unit ( 173223935573 ): $75 shipped (over 90 days, not on fileA)
Sold: https://www.ebay.com/itm/323576662679: $385 plus shipping.
Bought: Noritake coffee pot and 4 other items, $145 shipped https://www.ebay.com/itm/NORITAKE-GALLERY-COFFEE-POT-LID-APPEARS-UNUSED-MIINT/392159549084?ssPageName=STRK:MEBIDX:IT&_trksid=p2057872.m2749.l2649
Sold: Same pot, already had one, but it was too good to pass up, plus we kept the other 4 items, Sold for $295.
https://www.ebay.com/itm/264062242043
I can come up with another 50+, but not trying to be boastful. There is also the lag time, that what I buy I typically do not sell it within 90 days or so, so as to not "poke the bear"
Curious if you would have bought that 14 half I pictured I bought as a Buy it Now?
BTW I have sold many of the coins I bought from you at a reasonable profit!
Nm
Yeah, I have seen my coins get immediately relisted on Ebay after I sell them. Sometimes sellers get a bit more with a fixed price. Sometimes the coin languishes for a long time because the fixed price is too high. I figure it all works out in the end...well, I used to, not so much anymore.
Darrell, you definitely have a good eye for the Barbers, but that 1914 didn't quite have the look I like. Not even that as much as I now prefer AU or MS coins. Here is a coin (PCGS VF25) you sold me a long time back that has the look: This was the lowest graded coin in my PCGS registry set, but I couldn't find a nicer one in a higher grade.
You know, markets change, the dynamics of everything changes eventually, and the state of the coin market IS just what it is. It is probably wasted energy to fight it or complain about it. Acceptance is key.
I still find a lot of beautiful coins these days. Now, I know that it just means that for most every coin I buy, I will probably lose some money for the privilege of owning it.
P.S. This is how a VF20-25 coin looked when I started collecting. It still had a lot of meat on it.
Interesting discussion. Viewpoints seem to be from each individuals collecting/business perspectives. It is important to have a plan... and to be able to modify the plan if it is not producing positive results. Cheers, RickO