These fees can increase monthly item listing cost by 10c I believe. Would not close my store because of this. So 200 items your looking at an extra $20 in fixed overhead. Big deal. Bottom line what is the store traffic report telling you, are you getting any decent retail, and what is our fixed overhead cost percentage once you factor in ebay and paypal fees vs gross store sales. Gotta be at least 12% - just increase markup accordingly.
Remember Break Even = fixed costs / Variable Contribution Margin. Coin selling is a retail business like any other (you gotta retail your merchandise! - buying and selling at wholesale (CDN Bid / Ask) won't cut it in the coin business. If you look at CDN Ask as an estimated replacement cost, overhead costs at 10% of sales (tough to keep at this level), and a 10% allowance for profit (hoping for more than 1.0 annual inventory turnover) then CDN ask + 20% is a minimal markup (above replacement cost). Think I am kidding - compare the asking prices in CW and NN to CDN Ask.
<< <i>These fees can increase monthly item listing cost by 10c I believe. Would not close my store because of this. So 200 items your looking at an extra $20 in fixed overhead. Big deal. Bottom line what is the store traffic report telling you, are you getting any decent retail, and what is our fixed overhead cost percentage once you factor in ebay and paypal fees vs gross store sales. Gotta be at least 12% - just increase markup accordingly.
Remember Break Even = fixed costs / Variable Contribution Margin. Coin selling is a retail business like any other (you gotta retail your merchandise! - buying and selling at wholesale (CDN Bid / Ask) won't cut it in the coin business. If you look at CDN Ask as an estimated replacement cost, overhead costs at 10% of sales (tough to keep at this level), and a 10% allowance for profit (hoping for more than 1.0 annual inventory turnover) then CDN ask + 20% is a minimal markup (above replacement cost). Think I am kidding - compare the asking prices in CW and NN to CDN Ask. >>
For the sake of accuracy, it's not just the increase in listing fees (from 2 cents to 5 cents per month for items under $25, and from 2 cents to 10 cents per month for items $25 and over), but more importantly the increase in final-value fees from 8% to 10%.
For the casual lister, this is not really an issue. For the person using Ebay as a storefront, this hits harder, as it was designed to do. I personally would like to be able to eliminate or at least filter out the 100% commercial listings (for the auction section) of people just using Ebay as a storefront selling things at retail or more or else just listing BINs and no real auctioning.
There are less and less bargains on Ebay due to there being more and more commercial sellers. Ebay started as a way to do auctions online. I think all auctions should be no reserve, no minimum. If you want to sell an item, it will sell for what it is worth on Ebay with this method. If you are asking too much (as in it does not sell) then you are asking more than it is worth, so lower the price!
<< <i>I'm closing my store August 31st. Having the eBay store just isn't all that great. At least for coins IMHO. >>
Interesting. Business is booming for me... but then again, my material is strictly DarkSide, and definitely lower-dollar material than most here deal with, so "booming" to me might equal 1 sale that others might have... *shrug*. I also sell material from other hobbies I'm involved in as well, so when one segment is slow, the others usually keep things going.
I'll bite the bullet and keep my Ebay store, as it's infinitely more successful and easier to deal with than when I ran everything as auctions. Of course the higher listing fees make it less worthwhile to list $1-2 items, which I guess is the goal.
In addition to Ebay focusing on driving out the sellers who are simply using their stores as inventory repositories or to drive business to their off-Ebay ventures, I really wish Ebay would devote some effort towards stopping (1) scammers selling $0.01 BIN items with $99 shipping fees, (2) the out-and-out fake "patterns" which are really just fantasy pieces, (3) all the fake garbage coming out of China.
The Ebay fee increase seems to amount to about 8 cents per store item. An ebay store is still a good retail venue vs the more expensive option of auction listing fees or the possibility of giving something away. I also believe operating an ebay store is much cheaper than travel, lodging, and table fees at shows. The main profit driver for an ebay store in my opinion is traffic of people coming thru ebay with money and willing to buy at retail.
Put your better numismatic material in your ebay store and ask your price. If blowing out bullion then the auction route is best if you want to move it quickly.
And those idiotic fee increases are THE REASON why I am no longer going to sell anything on "Flea-Bay"! I am only going to buy if I can find a deal - and there are deals there if you can take a little time and work.
DORAN COINS - On Facebook, Instagram, X (formerly Twitter), & www.dorancoins.net - UPCOMING SHOWS (tentative dates)- 10/8/2023 - Fairfield, IL, 11/5/2023 - Urbana, IL., 12/3/2023 - Mattoon, IL.
did you think ebay wanted to be forgotten ? when it comes to a store , ebay is synonomous with e-bye they want garage sale items, or true auctions. All others will pay a healthy fee to LEASE space.
Comments
Remember Break Even = fixed costs / Variable Contribution Margin. Coin selling is a retail business like any other (you gotta retail your merchandise! - buying and selling at wholesale (CDN Bid / Ask) won't cut it in the coin business. If you look at CDN Ask as an estimated replacement cost, overhead costs at 10% of sales (tough to keep at this level), and a 10% allowance for profit (hoping for more than 1.0 annual inventory turnover) then CDN ask + 20% is a minimal markup (above replacement cost). Think I am kidding - compare the asking prices in CW and NN to CDN Ask.
News to me - NOT
Russ, NCNE
<< <i>These fees can increase monthly item listing cost by 10c I believe. Would not close my store because of this. So 200 items your looking at an extra $20 in fixed overhead. Big deal. Bottom line what is the store traffic report telling you, are you getting any decent retail, and what is our fixed overhead cost percentage once you factor in ebay and paypal fees vs gross store sales. Gotta be at least 12% - just increase markup accordingly.
Remember Break Even = fixed costs / Variable Contribution Margin. Coin selling is a retail business like any other (you gotta retail your merchandise! - buying and selling at wholesale (CDN Bid / Ask) won't cut it in the coin business. If you look at CDN Ask as an estimated replacement cost, overhead costs at 10% of sales (tough to keep at this level), and a 10% allowance for profit (hoping for more than 1.0 annual inventory turnover) then CDN ask + 20% is a minimal markup (above replacement cost). Think I am kidding - compare the asking prices in CW and NN to CDN Ask. >>
For the sake of accuracy, it's not just the increase in listing fees (from 2 cents to 5 cents per month for items under $25, and from 2 cents to 10 cents per month for items $25 and over), but more importantly the increase in final-value fees from 8% to 10%.
1/2 Cents
U.S. Revenue Stamps
There are less and less bargains on Ebay due to there being more and more commercial sellers. Ebay started as a way to do auctions online. I think all auctions should be no reserve, no minimum. If you want to sell an item, it will sell for what it is worth on Ebay with this method. If you are asking too much (as in it does not sell) then you are asking more than it is worth, so lower the price!
<< <i>No sweat off my sack. I use eBay the way it's supposed to be used, as an auction venue.
Russ, NCNE >>
But yuck, what a visual.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>I'm closing my store August 31st. Having the eBay store just isn't all that great. At least for coins IMHO. >>
Interesting. Business is booming for me... but then again, my material is strictly DarkSide, and definitely lower-dollar material than most here deal with, so "booming" to me might equal 1 sale that others might have... *shrug*. I also sell material from other hobbies I'm involved in as well, so when one segment is slow, the others usually keep things going.
I'll bite the bullet and keep my Ebay store, as it's infinitely more successful and easier to deal with than when I ran everything as auctions. Of course the higher listing fees make it less worthwhile to list $1-2 items, which I guess is the goal.
In addition to Ebay focusing on driving out the sellers who are simply using their stores as inventory repositories or to drive business to their off-Ebay ventures, I really wish Ebay would devote some effort towards stopping (1) scammers selling $0.01 BIN items with $99 shipping fees, (2) the out-and-out fake "patterns" which are really just fantasy pieces, (3) all the fake garbage coming out of China.
1/2 Cents
U.S. Revenue Stamps
Put your better numismatic material in your ebay store and ask your price. If blowing out bullion then the auction route is best if you want to move it quickly.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
<< <i>store listings are going way down >>
And those idiotic fee increases are THE REASON why I am no longer going to sell anything on "Flea-Bay"! I am only going to buy if I can find a deal - and there are deals there if you can take a little time and work.
did you think ebay wanted to be forgotten ?
when it comes to a store , ebay is synonomous with e-bye
they want garage sale items, or true auctions. All others will pay a healthy fee to LEASE space.
``https://ebay.us/m/KxolR5