any tips on how to sell on eBay, while protecting yourself from being hustled?
2ltdjorn
Posts: 2,329 ✭✭✭✭
would love to hear your tips on successfully selling coins on eBay, while protecting yourself from being scammed.
please share. thanks.
WTB... errors, New Orleans gold, and circulated 20th key date coins!
2
Comments
I just don’t worry about it. Seems to work great.
This.
Obey the ebay rules (don't ship to alternate addresses, etc.), ship with tracking where appropriate, insure where appropriate.
In the end, 99.96% of eBay transactions are successful and honest. For 0.02%, eBay seller guarantees will protect you. For the other 0.02%, you may have to eat it.
Scams on eBay are very rare.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I've been selling for 9 years with very few problems. A basic level store subscription works best for me, which is $21.95/month and lowers the percentage of your final value fees. Plus, you get plenty of free listings. As the above post says, stick to eBay's rules and you should be fine.
Only isdues I have had in 20 years (?) were one involving customs in Brazil where the guy did not want to pay. It got returned to me.
The other is a lost lens somewhere between Miami and Tokyo probably due to Covid mail issues.
I sell alot of PWE baseball cards. The occasionally get lost or destroyed.
I self insure everything except the biggest ticket items.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
This is an excellent point.
The $21.95 is a MUST if you are going to sell any coins on eBay. It lowers your managed payment rate from 12.45% to 8.45%. So, you do the math: if you average $500 per month, the savings on the fees alone cover it. But you also get the $25 per quarter credit for shipping supplies, so you are basically getting almost 5 months free.
It's important not to let all the kvetching around here convince you that there is a big scamming problem. People are quick to yell "scammer" around here, but most of the threads end up being a misunderstanding and get resolved in the OP's favor. In addition, no one posts every successful transaction they had.
I do about 2000 transactions per year these days. I have 3 or 4 minor problems, almost always on cheap stuff for some reason. Of those, maybe 1 of them ends up with me eating some costs, whether it is unrefunded PayPal fees, uninsured shipping value, or something like that.
During the whole USPS shipping fiasco around Xmas, I had 4 people who insisted on a refund when the package was late. I obliged and told them to let me know when it arrived and we would arrange payment. 3 out of the 4 contacted me and sent me the payment back. The 4th person never responded to me, but eBay seller guarantee paid me because it showed delivered on the tracking.
I've often said that my eBay experience convinced me of the general goodness and honesty of most people. I've done over 70,000 transactions in 20 years. And, as I've said, I have one or, at most, two problem transactions per year which almost always amount to very little money. And, frankly, that is just the cost of doing business.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I sell $1500+ coins, works for me:
And after you've done everything you can to be the best seller on ebay you are still going to encounter a buyer who wants to blame you for USPS delays or blame you for assumptions he made about the item you listed. There are outright scammers but also horrible buyers. It happens. In most cases Ebay/Paypal will take care of their good, reliable and honest sellers. Be one.
Biggest ebay scam: a third party seeing that you sold something and then, posing as the buyer, contacting you requesting you ship to a different address. Easily recognized by comparing the buyer ID with the ID of the person requesting the change of address. Ship only to the ebay/paypal address, do not let a buyer or who you assume is the buyer convince you to change it. If it's a legitimate request to change address, inform the buyer you will refund and he should then change his address with ebay/paypal and then repurchase the item.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I have bought and sold on ebay for 17 years and have had no real complaints. Just remember: USE COMMON SENSE. Don't do risky things, if you feel uncomfortable-then don't do it, don't list questionable items, if you think things are going to be returned, they probably will, so don't list them, you be as honest as you want your clients to be. ALWAYS list with quality photos and descriptions as you are capable of. JMO
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
The vast majority of deals are just fine. I suppose if you're low volume your risk is that if you get one of the rare bad buyers it will be a big percentage of your business, but luckily, there aren't many of them. Understand eBay's policies and do what you can to protect yourself--have good photos, an accurate description, ship with tracking--and then just go for it. Most transactions will go off without a hitch. If you have higher ticket items, I would sell some cheaper stuff first to establish yourself. You'll set off some red flags if you dive right in with no selling history and expensive items.
Previous posters appear to have said it all.
My main philosophy:
A store subscription a must. Stand your ground with tire kickers and low ballers. Been selling there over 20 years.
Do what’s in your comfort zone and be cognizant of risks.
Do the math on expenses and develop a markup equation that leaves you in the green. Just like shows I try to have at least a few items competition doesn’t have so that way more in the drivers seat. Realize there will be returns and buyers who will flake out and not pay. These have been rare for me fortunately.
21 Years on ebay. Good accurate and clear photos. Accurate descriptions with issues noted if any.
Never been scammed as a seller.
Make sure you ship to only the ebay address and use ebay's shipping with tracking.
be well,
bob
Don't take things personally, especially the tire lickers.
Alot can be lost in translation.
Keep good records of buying, selling, supplies, shipping cost, fees.
Alot of small .99 cent auctions attract repeat buyers. Keeps the interest so when I list graded stuff I get eyeballs.
Plain White Envelope is the low brow of coins and cards but cause most shipping issues. I have found packing an extra top loader for support or one of those coin fold over sticky things work wonders.
So know your cost down to the ink on the packing list. It is more than the 71 cents stamp for a 2oz PWE.
I bend over backwards to over deliver. Throw in an extra coin or card.
Example... Just sold three lots of bulk autos of 1930's stars. If the third seller doesn't pay, they get divided and sent to the other two. Probably lost $10 when all is said and done, but I got Uncle Festers auto for $10.
Enjoy the ride and realize stuff happens.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Just don’t accept “trades” instead of payment. I haven’t sold anything on eBay in years, but I used to do so frequently. The only bad experience was where a buyer talked me into accepting some Morgan dollars instead of paying what he bid. He sent me some poorly shot pictures. I took a chance and accepted them, but what he sent was Artificially toned junk Morgan’s. I forget how it ended, but way too much hassle to return the coins he sent and lots of arguing.
Just don’t do it if they want to trade.
Mr_Spud
if you have problems with more than 3% of your sales, then the problem is you - pictures or description. If you go in understanding that you will occasionally meet a jerk, you won't be surprised when they show up. You will have people trying to have you close your auction with a BIN, or lower your prices so you need to have some idea how you will handle it.
Try to keep stuff accurate, pack well and ship promptly.
Been buying & selling on ebay for over 20 years & never had a major issue. Minor ones yes, mostly do to my mistake(s). Take all the previous posts to heart, excellent advise. I'll add one more...Take full advantage of the "blocked bidder list" & set your "buyer requirements" to high standards.