Ever Have Your Coins Bring Too Much on eBay?

Clankeye · September 11, 2003 7:45AM

I have a coin on the Bay of Eee right now that has been bid up to a point that is past what I would offer to sell the coin for in a face to face transaction. In fact, I would say at the current bid, it is not necessarily a good value, because I could go out and buy two similar coins at the price it is now.

This may sound ridiculous to some of you, but I don't like selling coins for more than I think they are realistically worth. And whereas I can't make a value judgment for each individual, when I sell a coin, I would rather it go at a price that I feel is good for me, and also good for the buyer.

Now, I have the luxury of not doing this for a living. And I have no control over what is bid for a coin once it hits eBay. I guess my point is there is a top which I am not comfortable seeing exceeded in some coin sales.

Should I be marooned on a desert island?

Clankeye

Cam40 · September 11, 2003 7:50AM

I can just hear the rumblings in the coin dealer world. ` Is this guy nuts or what`

poptopsRus · September 11, 2003 7:50AM

First, I gotta see what this coins is, and second, it happens all the time. I've sold coins on ebay that sell for twice what I have it marked for in the store. I still ship it with the store price on it and nobody has ever said anything but thank you for the coin. Some people just don't understand, I guess they have spent too much time in front of the TV watching what they try to sell them for there and not enough time in their local coin shop.

oldshep · September 11, 2003 7:50AM

I think the definition of the value of a coin is what someone is willing to pay to own it. The beauty of auctions is just that, you find what someone is willing to pay,......it can always go the other way too.
Shep

Tassa · September 11, 2003 7:50AM

That rarely happens to me, but I know what you mean. I've actually once emailed a buyer and told them that I thought their bid was too high and reduced the price once an auction ended.

cherrypickincoin · September 11, 2003 7:50AM

Clankeye,

I respect you greatly but you've got to get rid of some of that seller's guilt. A coin is worth whatever anyone is willing to pay for it. If you have it accurately described, let the bidding fly. I see nothing wrong with maximizing your profits. But, that's just me. I think you should do what you believe is the right thing. That's all that matters in the end.

Louis · September 11, 2003 7:52AM

You could offer to sell for "your" price to the winning bidder after the auction.

ccrdragon · September 11, 2003 7:53AM

What cherrypikin' said!

Peaceman · September 11, 2003 7:55AM

I routinely sell for over PCGS.com prices as I carry only the highest examples of Peace dollars. Check out my feedback for "gempeacedollars". I recently sold a 1928 MS64 PCGS for $ 980+

DHeath · September 11, 2003 7:56AM

Clank,

You better look close and make sure you aren't missing a variety.

MadMarty · September 11, 2003 7:58AM

I had a 1944-S MS66FS Jeff on E-Bay. CU price is $160, I would have been happy with $100. It sold for $375!!! I'll join you on that island Clank! You bring the blender and I'll bring the Margaritas!

paigowjohnny · September 11, 2003 7:58AM

Clank.....you're an oak !!

Now do you recall this line...who said and when...." I feel....capital!"

NoGvmnt · September 11, 2003 7:58AM

When the Mint started selling the little 100-count Delaware bags I purchased 7 each of the P&D bags.
When I sold them in 2-set bags (1-P and 1-D mint) on Ebay, they went for $1,500.00 per set.

Didn't bother me one bit.

Jim

PS, if it bothers you that much, put a BIN on your auctions.

Clankeye · September 11, 2003 8:03AM

Well, the funny thing Don, is the high bidder is a guy that I have been watching operate for a couple of weeks on eBay. He's new and he has taken an interest in everything Carver (which happens to be my cup o' teeth) and I have seen him pay very "strong" prices for a wide variety of coins and conditions.

In the instance of this auction, he obviously put a high max bid in, and someone came along and pushed him way up on it.

You know, my feeling is "good for me" on the other hand, this is a guy who might have a new found interest in a series of coins that I know a little bit about, and I don't want to watch someone make some beginners errors.

But, to be sure, I may be reading more into that than is my business.
But, after this auction closes, I probably will try to engage him in some discussion about the coins, and see if my particular experiences with them might be of any interest.

Clankeye

jadecoin · September 11, 2003 8:03AM

We have had that same issue before. Here's a good solution: include another coin as a surprise freebie when you ship to the winner. If he/she was happy with the final price, then he/she will surely be pleased with an unexpected bonus and will reflect that happiness via feedback.

coinguy1 · September 11, 2003 8:05AM

<< <i>Should I be marooned on a desert island? >>

Clankeye, is that all we are allowed to do to you?

On a more serious note, I can understand your discomfort.

Let me see if I can try to make you feel a little bit better, while being completely candid at the same time.......

1) It is possible that you have underestimated the "value" of the coin. That happens to (almost ) everyone at one time or another. I do know a few unbelievably greedy individuals who have never been guilty of that, though.

2) Sometimes people pay more than they think/know something is worth, in order to avoid having to make a trip to locate it and/or pick it up - convenience.

3) Maybe someone who appreciates your legendary tales of Coinalot is bidding on your item out of gratitude. Ok, that one wasn't serious but it's not out of the realm of possibility, at least.

Bottom line, if you were fair and honest in your listing (I have no doubt that you were), you have nothing to feel bad about. The collective bidders will dictate the "value" of your item to them, regardless of what you or I or any one individual thinks. Hopefully, the winning bidder will be happy with his or her purchase.

jadecoin · September 11, 2003 8:06AM

Here's another solution: report that scumbag bidder to eBay and have him NARU'ed!! How dare he bid up your auctions to such high levels!

Clankeye · September 11, 2003 8:06AM

<< <i>PS, if it bothers you that much, put a BIN on your auctions. >>

My experience with putting BIN's on auctions is if you start your auction at a low price with no reserve, the BIN's get knocked out of action practically right away.

Johnny--.... oh man, I know that quote... "I feel... capital"... give me some time.

Clankeye

ARCO · September 11, 2003 8:15AM

Nice orginal semi-key and key dates on Ebay will outperform those same dates sold in a coin shop hands down most of the time. There are more specialists (the whole USA and beyond), there are those who will spend more on Ebay to offset the lack of proximity to coin shows and coin shops, and from my experience Ebay auctions provide less stress as a buyer because you can look at an auction over and over again, study the coin, research it and do the proper due diligence all before the auction ends.

Imagine the time lost as you walk into a coin shop and spend half the day there looking at the coin, running to the library for internet access, going back to the coin shop to look at the coin again, running back to the library to check auction results...whew you get the idea right? The whole time the dealer gets sick of looking at you and wishes you would put out or get out. A dealer in my area has electronic gizmos that rival fort Knox so entering feels like prepping for a prison shakedown.

Armchair bidding is fun and worth paying more for those many conveniences and comforts.

Tyler

nwcs · September 11, 2003 8:19AM

No, of the coins I sold on ebay I took a loss on each one.

Barry · September 11, 2003 8:54AM

I've had a couple of 1838 partial drapery Seated dimes (cherrypicked off Ebay and turned back around a few weeks later) go for way more than Trends. One, about 6 months ago, went for $200+ and Trends listed it for about $30! The next week, at a local show, one of the guys there saw the auction and congratulated me.
Then, there were the Buffalo Dollars. About $50 from the Mint and Ebayed for about $200 each.
Best one though was a Vatican Euro Mint Set. Cost me about $20 from the UFN and sold for about $1400 on Ebay.

relayer · September 11, 2003 9:08AM

Normally it costs me money to make slabs for the nice people on eBay, but I once sold 1/2 of a 2001 Silver Proof set (minus the quarters) and two hard heads got in a bidding war and drove it up to $47

wingedliberty · September 11, 2003 10:16AM

Jadecoin's solution is excellent. Include a surprise coin with it. Thats a great suggestion.
and win over a repeat bidder and someone who will appreciate the gesture.

jdimmick · September 11, 2003 10:18AM

Let it bring what it brings, more money for me to buy something else or when upgrading.

I have been amazed at some of the prices realized on the key-dates I have sold on E-bay, but not really surprised as most were from my personal collection and were orginally purchased/chosen becuase they were nice to begin with.

jim

ursabear · September 11, 2003 10:29AM

It is interesting jadecoin mentioned the "bonus" thing.

I've had a few items well exceed my expectations before. In each case, I sent them through faster mail service and with another coin of probable interest to the buyer. Each time they've been quite pleased. It made me feel good, too.

FatMan · September 11, 2003 10:53AM

Ebay has become a market unto itself. Your coin could be very common, but if it is rarely available on eBay it will close quite a bit higher than it would sell for elsewhere. The coin being common is irrelevent, on eBay it is "rare". Thousands of coin collectors who live in rural areas use eBay as their sole source for buying coins. Yes, its foolish but eBay is the only source they know.

Clank...absolutely you should be marooned on a desert island, but only after you send me all your coins so I can care for them while you're gone.

Robgetty · September 11, 2003 11:29AM

I bought a set of MS66 steel cents and sold the 65's that they replaced for more than
I paid for the 66's on Ebay. I've had similar things happen with rarer date coins that I
upgrade. A lot of people get bidding on the lower grades because they see an opportunity
to get the coin. (For example, how often do you see a nice XF40 1872 2 cent piece get offered?
You will see a MS65 Red offered more often (Or a damaged, net VG))

Lakesammman · September 12, 2003 12:05AM

A few years ago I sold a flowing hair $1 and the bid was 50% above what it should have been. The buyer emailed me after and said he made a mistake...thought it was a 50c piece! Let us know if you get any interesting emails after the auction.

my3cents · September 12, 2003 12:26AM

maybe the guy has fallen in love with it and has to have it at any cost....

Nahhhh. That NEVER happens does it?

paigowjohnny · September 12, 2003 1:04AM

Too dang much...

jeffnpcb · September 12, 2003 1:30AM

Is this a trick question? Why didn't I own that 1940 Lincoln when it sold? What, are you crazy??

kieferscoins · September 12, 2003 1:41AM

I sold a NGC sample slab for $70 with a $0.99 start two days after I picked it up at the NGC table at Long beach. It was crazy, and I had never had that happen since.

Cameron Kiefer

pontiacinf · September 12, 2003 2:47AM

hmmm...maybe the sample slabs futures have crashed

hahahahahahaha

CoinHusker · September 12, 2003 4:10AM

That's why I like to use the "Buy it Now" feature. If i either buy it or sell it with a "Buy it Now" price that I'm comfortable with I figure I've been a responsible buyer and seller. Plus, no one can run up my bid if I simply "Buy it Now".

But I have also seen auctions go for WAY over the "Buy it Now" price by the same guy that made the opening bid. Go figure. "Buy it Now" or pay more later.

MacCoin · September 12, 2003 4:52AM

well drop the darn s/h if you feel that bad. have you ever paid that much over for a coin you wanted. I have and did mind at all.

coinguy1 · September 12, 2003 4:57AM

<< <i>I sold a NGC sample slab for $70 with a $0.99 start two days after I picked it up at the NGC table at Long beach >>

Cameron, I believe those sample slabs are given out to collectors as a courtesy by NGC. Shame on you for selling/profiting from a gift.

kieferscoins · September 12, 2003 5:10AM

Mark. I just take one and if I decide to sell it I don't think there is anything wrong with that. I don't wipe out the table or take more than one sample slab. Dealers sell samples that they get for free from the services.

Cameron Kiefer

coinguy1 · September 12, 2003 5:12AM

Cameron, I guess we will have to agree to disagree. The fact that that some dealers might do it, doesn't make it right. I'm confident that you know that.

kieferscoins · September 12, 2003 5:13AM

I know that, I didn't mean to make that an excuse for me to sell my one sample. I usually keep it for my collection.

Cameron Kiefer

Lakesammman · September 12, 2003 6:37AM

Mark:

Are you saying he should NEVER sell them, even if he gets tired of the them??

coinguy1 · September 12, 2003 6:42AM

Tim, PM sent, so that I don't take this thread further off track than I already have. Sorry for my interruption, Clankeye.

Clankeye · September 12, 2003 6:48AM

<< <i>Sorry for my interruption, Clankeye. >>

Ohhhhh!! It's on now, St. Feldolini!

Sleep with one eye open.

There's a smack down a-comin'

The very nerve!

(Clankeye wanders into the distance muttering to himself, stopping at the occasional trash bin, to rummage for treasure)

Clankeye

cosmicdebris · September 12, 2003 6:51AM

Carl I hope all your auctions go that way. Then you could spend more time writing.

coindaughter · September 12, 2003 7:53AM

You've got to remember, at least 2 people think it is worth that much. The increments for bidding are small, and for it to go high, more than one person puts that value on it.

Anyway, maybe you're missing something!

Relax and enjoy! That's what the Bay of Eee is all about!

boz · September 12, 2003 7:55AM

Woe the luck!!

mdwoods · September 12, 2003 8:33AM

Ohio state quarters.

Ever Have Your Coins Bring Too Much on eBay?

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