Why pay full retail when you can buy on ebay??

Lakesammman · September 18, 2003 9:55AM

Listed 2 coins on ebay recently. The were great coins, both cameo proof IHC's, both top pops, each listed for $11,500. No bites. So, I consigned them to a dealer for $13K, net $11,700 after his 10%. They both sell the first day of LB.

Now tell me, why in the world does that happen?? Are YOU afraid to buy great coins on ebay??

Jamericon · September 18, 2003 9:57AM

Personally, I prefer to purchase great coins in person, rather than eBay. I just feel more comfortable that way.

mgoodm3 · September 18, 2003 9:58AM

I guess that would be a yes?

Russ · September 18, 2003 10:30AM

Tim,

If I were buying that type of coin, and if I could afford that type of coin, I would have no problem buying it on eBay, assuming a reputable seller. I know there are those who like to proclaim that only junk is listed on eBay, but that's not true. Sure, there is PLENTY of junk - and plenty of crooked sellers - but there is also plenty of good stuff and plenty of honest sellers.

Russ, NCNE

shylock · September 18, 2003 10:36AM

I bought one of the great coins you listed on Ebay and felt like I saved myself more than 10% of the eventual dealer's price. But I had an edge -- I trust you and your excellent taste in coins, something Ebay buyers know nothing about. Unless you knock them dead with a label or an image Ebay buyers only pull the trigger on bargains. The only exception are dealers who've cultivated trust in that venue, and that takes a lot of time. That's why I love shopping there!

Congrats on the fast sales and greater profit, I'm not surprised.

sinin1 · September 18, 2003 10:46AM

seeing the coin in person has some definite advantages

I am sure you would probably agree that a coin in that slab could sell anywhere fromm $8K to $12K, depending on how it looks.

callawayc7 · September 18, 2003 10:55AM

I would not buy anything (coins or anything else) that expensive on Ebay unless I know the seller/dealer. Not to mention, for a coin like that I would prefer to see it in person even if the seller has a good return policy I would still be worry (I've had problems with some returns even from sellers who state on their auctions that you can return coins).

Bustman · September 18, 2003 11:03AM

It's very hard to sell expensive coins on eBay. There are a lot of nervous buyers out there, thanks to a lot of bad sellers.

uofa1285 · September 18, 2003 12:12PM

eBay is most certainly a true wholesale market 90% of the time. Shop eBay first to save nice bucks, then go to shows/coin shops for your want list coins not found in eBay.

Doug

291fifth · September 18, 2003 12:21PM

If I were going to purchase coins in that price range I would not be looking at eBay. Too many scammers these days. How do you know you will ever see your coins? That type of material is the province of the large dealers and major shows. I would want to see it in person.

There really aren't many great buys on eBay. Most of the lower priced coins sell for what they are worth if they are properly pictured and described. Ebay is mostly good simply because can be found that may not be available locally.

BigD5 · September 18, 2003 12:23PM

Long Beach, or any major show, is a forum for serious buyers for serious material. Ebay is a forum for buyers of mostly less serious items than what you described. Of course, there are exceptions, but in general.
I would also bet that another dealer or dealers purchased those coins. Larger dealers with established clientele will pay extremely strong money for coins on their clients want lists.

Lakesammman · September 18, 2003 3:05PM

I suppose you guys are right - I'm pretty selective when it comes time to buying on ebay too.......

dorkkarl · September 18, 2003 9:08PM

buying on ebay pales drastically to buying truly sight-seen

K S

EvilMCT · September 18, 2003 10:11PM

I could never afford a coin like that without winning the lottery. But, had I the means, I would not spend that much for a coin without seeing it in person. There are way too many scam artists out there imo.

Ken

IndianHeadMan · September 18, 2003 11:06PM

11 G's is over 1/4 of my yearly salary. You figure out why I didn't bid. Trust me I really Really wanted to.

CarlWohlforth · September 18, 2003 11:36PM

I think it is a case of a few bad apples spoiling the barrel. I certainly would have bid on your coins if I was in the market for them. There are loads of bargains on eBay at all levels it seems.

dpoole · September 18, 2003 11:40PM

For that kind of money, why wouldn't you get a relationship with a dealer you trust with a good eye, and have them do the hunting/screening for you? You cast a wider net that way, and you almost always get to see the coin before you buy. My experience is that the really quality pieces that come up on Ebay have their opening bids set at the top of the range already, so you really don't get any opportunities for bargains or "steals" of any consequence. So why bother

Lakesammman · September 18, 2003 11:48PM

Hey, I got it....changing my name to LakeANACONDA so people will bid big bucks and trust me.......!

coachleonard · September 19, 2003 1:40AM

Some very weird psychology goes on with ebay buyers. Case in point: a little over a year ago, I noticed a NICE 1787 Vermont halfpenny ( at least VF light brown on the obverse, reverse weak not from wear but from typical weak strike with these pieces) on its final day of
auction having 0 bids and an opening bid price of $53. I put in a $53 bid simply 'cuz I thought this guy deserved it, but just assuming
I'd lose big at the last minute. I WON the thing at $53! Why? I think the eyes of the bargain hunters were only coming to rest on the low opening bids and just glazed over this $53 opening bid ( and I confess, I nearly passed over it myself hunting for bargains!)-- even though that price was WELL below its value. Maybe if it had started at $1 it would have been bid up to $200-$300. But can you blame the guy? I'd be a little scared to open a quality colonial like that at $1, and then have it go for $40 or something. Of course he could have put a $1 and a reserve, but then it turns into a "a-lot-of-people-won't-bid-on-reserves' situation. So while I was happy with obtaining the coin, I know how I'd feel if I was the seller ( because I do selling myself). And to the guy who said that ebay these days is a crapshoot--- you're RIGHT!

Why pay full retail when you can buy on ebay??

Comments

Leave a Comment