It's a different type of venue. Is Stack's or Heritage an eBay analogue? No, they are a traditional auction house as is GC.
We're talking about a coin listing site, and all of those are successful coin listing sites. Why does being a "traditional auction house" matter if all have coins and all have Internet auctions?
Because they don't function the same. They don't even all have coins and all have Internet auctions. eBay has Buy It Now options, for example. eBay also sells books and supplies, even if I ignore non-numismatic items. On eBay, anyone can list and sell. On GC, only GC sells. You can put anything you want on eBay. GC decides whether your item can or cannot go on their website. It's an entirely different business model.
People sell coins on BST. People sell coins on Instagram. You can't really put those venues in the same category as either eBay or GC because they function differently.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@jmlanzaf said:
an they are successfully competing with eBay?
It's a different type of venue. Is Stack's or Heritage an eBay analogue? No, they are a traditional auction house as is GC.
We're talking about a coin listing site, and all of those are successful coin listing sites. Why does being a "traditional auction house" matter if all have coins and all have Internet auctions?
Because they don't function the same. They don't even all have coins and all have Internet auctions. eBay has Buy It Now options, for example. eBay also sells books and supplies, even if I ignore non-numismatic items. On eBay, anyone can list and sell. On GC, only GC sells. You can put anything you want on eBay. GC decides whether your item can or cannot go on their website. It's an entirely different business model.
People sell coins on BST. People sell coins on Instagram. You can't really put those venues in the same category as either eBay or GC because they function differently.
While there are differences in what each site offers, they all offer coins, which is what this thread is about. This thread is specifically about whether "some smart dealer (or consortium of dealers) has the brains to start a coin listing site.", not a site selling everything under the sun. From the perspective of selling coins, I think they can be compared as it comes down to how many coins are offered, how much money sellers make and how much money buyers pay.
I think competition is viable. For example, for premium coins, I don't think eBay can really compete with say Legend Auctions, and I think GC even outperforms it for some rarities.
@jmlanzaf said:
an they are successfully competing with eBay?
It's a different type of venue. Is Stack's or Heritage an eBay analogue? No, they are a traditional auction house as is GC.
We're talking about a coin listing site, and all of those are successful coin listing sites. Why does being a "traditional auction house" matter if all have coins and all have Internet auctions?
Because they don't function the same. They don't even all have coins and all have Internet auctions. eBay has Buy It Now options, for example. eBay also sells books and supplies, even if I ignore non-numismatic items. On eBay, anyone can list and sell. On GC, only GC sells. You can put anything you want on eBay. GC decides whether your item can or cannot go on their website. It's an entirely different business model.
People sell coins on BST. People sell coins on Instagram. You can't really put those venues in the same category as either eBay or GC because they function differently.
While there are differences in what each site offers, they all offer coins, which is what this thread is about. This thread is specifically about whether "some smart dealer (or consortium of dealers) has the brains to start a coin listing site.", not a site selling everything under the sun. From the perspective of selling coins, I think they can be compared as it comes down to how many coins are offered, how much money sellers make and how much money buyers pay.
I think competition is viable. For example, for premium coins, I don't think eBay can really compete with say Legend Auctions, and I think GC even outperforms it for some rarities.
Then the whole question is ridiculous and not worth asking. Everyone from Heritage to Stacks to GC to Instagram to the local B&M are already successfully competing with eBay.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@Batman23 said:
I wonder if Yahoo were to have an auction site if it would succeed? Oh wait, didn't eBay take the lead and win that war.
Yahoo had an auction site 10 or more years ago, and I bought some nice coins on it. They shut down because they couldn't compete with ebay. It didn't seem like there were many eyeballs on it and you could find some great deals.
@asheland said:
Possibly Amazon? Although I prefer ebay... At least as a buyer...
Speaking of... I actually have a silver bar with ebay on it.
Amazon charges a MINIMUM 20% as their cut. And you still have all the payment processing fees etc. Amazon will also suspend you for breaking their rules much faster than eBay. I know a dealer who was put on probation for being slow to refund a customer who claimed breakage but wouldn't return the item.
Amazon does NOT compete with eBay in this space at all.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Agree GC is a growing and popular alternative for coins.
I wouldn't say GC is unsuccessful, so does that mean they are successfully competing with eBay?
>
I assume GC is successful. I have sold on both. Twice, the first time over 100 coins offered as single lots. Maybe somewhat over 100 sales on eBay, both single lots and multiple.
The material I sold through GC was better quality. On eBay, sold both better and not better quality. As you know, GC isn't a dumping ground for average or lower quality coins that can be found anywhere.
I tried it because I didn't want to waste my time on tedious administrative chores to image, list and ship which was worth $3 a coin to me. I've done it before on eBay and can't stand it. Writing your own auction descriptions on eBay is a plus which can help realize a higher price
@slider23 said:
To compete with eBay, it would take a company like GC that wanted to grow their selling platform. Imagine GC adding a BIN and Best Offer section to current platform where coin sellers could post their own coin photos and a membership was required to eliminate scam sellers, AT sellers and counterfeit sellers. Imagine a company that really cared about the quality of their coin sellers and product that was for sale. Imagine a seller group that provided photos and coin descriptions that were accurate. Imagine a site with reasonable rates for sellers. Yes it could be done and all that would be left at eBay would be the garbage coin sellers.
Imagine there's no countries
It isn't hard to do
Nothing to kill or die for
And no religion, too
My eBay store has been a fantastic retail site for me. I also setup at shows. I bought 3 coins from dealer setup next to me at recent show (nice PQ pieces) 2 sold retail within week from my eBay store. Some graded bank notes bought off bay did really well at recent show. So the 2 compliment each other. Sort of like a running back who is a breakaway speedster with another a wrecking ball type of back.
I have bought off eBay and GC. Flipping purchases at good margin both shows and online store. Just good ol smash mouth ball. Coins that are PQ (wellstruck, above average luster, white / bright dazzling BU, or lite attractive toning, no dark / no looks like run over by truck toning or those darn uglyish spots) sell quickest and for more.
Ebay is still the top venue for the everyday collector to sell coins with the lowest sell premiums. Ebay is no longer the best venue to purchase coins. There are a lot of coins for sale and there are some (a few) Ok coins priced right, but overall, the vast majority of coins are being offered at prices that do not reflect market values of those coins.
Ebay brought me into collecting. The stupid prices people want for coins and the loss of the auction venue format has turned me from away from collecting, probably forever.
To compete with Ebay, you need a venue that allows true auction format or else it is all just a blast of hot air up your a$$.
That isn't an Ebay issue, that is a seller issue where everybody demands to be a coin broker and to turn a profit.
@ARCO said:
That isn't an Ebay issue, that is a seller issue where everybody demands to be a coin broker and to turn a profit.
Are you sure it's not a buyer issue where everybody expects a rip?
Yup
I had a coin listed at greysheet BID not ask. Guy offers me 30% back. I say, it's already at greysheet wholesale bid. How cheaply do you think I can buy these? He says, "why would I ever pay list?"
All comments reflect the opinion of the author, evn when irrefutably accurate.
@jmlanzaf said:
Guy offers me 30% back. I say, it's already at greysheet wholesale bid. How cheaply do you think I can buy these? He says, "why would I ever pay list?"
And when he goes to sell, he'll be the first to scream how the dealer is trying to screw him because he can't get 90% of retail. Go figure.
@ARCO I was talking with an ebay seller today that brought up his response to low ball offers that addresses your complaints very well. He said I spend the time and money to go to coin shows to find the coins I sell. If you want to buy for 20% less than I pay you should do the same! I won't name him, First time I met him, have bought from him on ebay, is a successful seller, and I agree!
Comments
an they are successfully competing with eBay?
Because they don't function the same. They don't even all have coins and all have Internet auctions. eBay has Buy It Now options, for example. eBay also sells books and supplies, even if I ignore non-numismatic items. On eBay, anyone can list and sell. On GC, only GC sells. You can put anything you want on eBay. GC decides whether your item can or cannot go on their website. It's an entirely different business model.
People sell coins on BST. People sell coins on Instagram. You can't really put those venues in the same category as either eBay or GC because they function differently.
All comments reflect the opinion of the author, evn when irrefutably accurate.
While there are differences in what each site offers, they all offer coins, which is what this thread is about. This thread is specifically about whether "some smart dealer (or consortium of dealers) has the brains to start a coin listing site.", not a site selling everything under the sun. From the perspective of selling coins, I think they can be compared as it comes down to how many coins are offered, how much money sellers make and how much money buyers pay.
I think competition is viable. For example, for premium coins, I don't think eBay can really compete with say Legend Auctions, and I think GC even outperforms it for some rarities.
I voted no way.
There are better places to buy coins than Ebay.
There's no better place to sell them.
Here's a warning parable for coin collectors...
Then the whole question is ridiculous and not worth asking. Everyone from Heritage to Stacks to GC to Instagram to the local B&M are already successfully competing with eBay.
All comments reflect the opinion of the author, evn when irrefutably accurate.
PCGS could do it.
I bet they couldn't be any cheaper than eBay, which is the point.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Yahoo had an auction site 10 or more years ago, and I bought some nice coins on it. They shut down because they couldn't compete with ebay. It didn't seem like there were many eyeballs on it and you could find some great deals.
Compete, yes. Unseat them as the dominant player in this space? Probably not. After 25 years no one has. It's all about the eyeballs...
Dave
Possibly Amazon? Although I prefer ebay... At least as a buyer...
Speaking of... I actually have a silver bar with ebay on it.
My YouTube Channel
My YouTube Channel
until that company comes along to give ebay a run for the money ill wait and keep plugging along
I see what it says but what is it for?
An award?
Collaboration?
Interesting.
Amazon charges a MINIMUM 20% as their cut. And you still have all the payment processing fees etc. Amazon will also suspend you for breaking their rules much faster than eBay. I know a dealer who was put on probation for being slow to refund a customer who claimed breakage but wouldn't return the item.
Amazon does NOT compete with eBay in this space at all.
All comments reflect the opinion of the author, evn when irrefutably accurate.
>
I assume GC is successful. I have sold on both. Twice, the first time over 100 coins offered as single lots. Maybe somewhat over 100 sales on eBay, both single lots and multiple.
The material I sold through GC was better quality. On eBay, sold both better and not better quality. As you know, GC isn't a dumping ground for average or lower quality coins that can be found anywhere.
I tried it because I didn't want to waste my time on tedious administrative chores to image, list and ship which was worth $3 a coin to me. I've done it before on eBay and can't stand it. Writing your own auction descriptions on eBay is a plus which can help realize a higher price
Not exactly sure... They just made them I think, probably a promotional type bar?
My YouTube Channel
@topstuf . You have to start somewhere... ecoin.com is available. Shwinnng batter!
whiff
Now I got that song stuck in my head.
My eBay store has been a fantastic retail site for me. I also setup at shows. I bought 3 coins from dealer setup next to me at recent show (nice PQ pieces) 2 sold retail within week from my eBay store. Some graded bank notes bought off bay did really well at recent show. So the 2 compliment each other. Sort of like a running back who is a breakaway speedster with another a wrecking ball type of back.
I have bought off eBay and GC. Flipping purchases at good margin both shows and online store. Just good ol smash mouth ball. Coins that are PQ (wellstruck, above average luster, white / bright dazzling BU, or lite attractive toning, no dark / no looks like run over by truck toning or those darn uglyish spots) sell quickest and for more.
Ebay is still the top venue for the everyday collector to sell coins with the lowest sell premiums. Ebay is no longer the best venue to purchase coins. There are a lot of coins for sale and there are some (a few) Ok coins priced right, but overall, the vast majority of coins are being offered at prices that do not reflect market values of those coins.
Ebay brought me into collecting. The stupid prices people want for coins and the loss of the auction venue format has turned me from away from collecting, probably forever.
To compete with Ebay, you need a venue that allows true auction format or else it is all just a blast of hot air up your a$$.
That isn't an Ebay issue, that is a seller issue where everybody demands to be a coin broker and to turn a profit.
Are you sure it's not a buyer issue where everybody expects a rip?
Yup
I had a coin listed at greysheet BID not ask. Guy offers me 30% back. I say, it's already at greysheet wholesale bid. How cheaply do you think I can buy these? He says, "why would I ever pay list?"
All comments reflect the opinion of the author, evn when irrefutably accurate.
And when he goes to sell, he'll be the first to scream how the dealer is trying to screw him because he can't get 90% of retail. Go figure.
@ARCO I was talking with an ebay seller today that brought up his response to low ball offers that addresses your complaints very well. He said I spend the time and money to go to coin shows to find the coins I sell. If you want to buy for 20% less than I pay you should do the same! I won't name him, First time I met him, have bought from him on ebay, is a successful seller, and I agree!