Question for buyers and seller
MrD
Posts: 2,589 ✭✭✭
I have been selling coins on ebay for quite some time and I have been facing an ever increasing delemma. I have no problem selling the "top 5" slabbed certified coins. My business has increased substanially and people are sending me more third tier encapsulated coins to sell for them. I feel that in most cases the coins are overgraded ( sometimes substantially but then again most people know that). Can you sell these things without damaging your reputation and if so what should you put in your description? I suppose I could start another user name to sell other items including these slabs but really its still the same entity. Your imput is greatly appreciated. If this subject has already been discussed please forgive me.
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Comments
who would they be?
jim
I had no problem with that at all.
He did not want to be associated with that type of coin, or more accurately, that holder, and who could fault him? There is a reason they're 'third tier' holders, they're not consistent and do not enjoy wide market acceptance.
I would not take them on consignment, it's your name that the buyers will remember where they got it from.
Lincoln set Colorless Set
<< <i>top 5?
who would they be? >>
Five...???????
PCGS, NGC, ANACS, ICG, ....?????
<< <i>it would be prudent to add your grade estimate or at least your opinion. >>
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1) Are you talking consignment?
2) Or are you buying lots, and reselling?
If 1 list as a consignment lot (or consignment item) Be honest about them being third tier slabs. And sleep easy. I assume you also have returns avalible.
(Priest) BLASPHEMY he said it again, did you hear him?
But even with candid disclosure I would be concerned that selling lower tier slabs would lead to more returns, unsatisfied customers, and higher risk of negative feedback. No matter what you say, someone will eventually buy the number on the slab, regardless of the initials it bears.
As another said, its your reputation, tread carefully.
The problem is that even if you fairly disclose the deficiencies in the grading on the slab, you become part of the propagation of this crap into the market.
The next buyer decides to sell, and is not as forthcoming as you... And so on. If you are OK with that, I'm not going to say that you are wrong... But just accept that it's the reality of the situation.
Either that, or save them to sell out of the discount bin at the shows.
As usual, just my humble opinion.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>It's an easy solution - tell your consignors that you have to crack 'em out and sell them as raw, or you won't accept them for consignment.
The problem is that even if you fairly disclose the deficiencies in the grading on the slab, you become part of the propagation of this crap into the market.
The next buyer decides to sell, and is not as forthcoming as you... And so on. If you are OK with that, I'm not going to say that you are wrong... But just accept that it's the reality of the situation.
Either that, or save them to sell out of the discount bin at the shows.
As usual, just my humble opinion. >>
I agree. Another option is to offer your consignors your services in cracking out and resubmitting such coins to a reputable service prior to sale. Be honest in your assessments of the coin and what it may grade to the consignor. If they don't agree, simply send the coins back to them.
(1) Refuse to accept third world slabs on consignment. Unfortunately, this might also apply to the few that are more or less accurately graded (few and far between but they exist);
(2) Make sure the consignor understands that you reserve the right to describe the coin and give your own grade assessment despite the grade on the slab.
Russ, NCNE
I want the best price I can 'honestly' get for what I sell. Could I honestly sell a coin graded by one of those companies that produce nothing but overgraded "MS70" crap? I think not. You really can't win. If you truly describe the coin grade and discredit the holder in the description, it will not sell for much, the consigner will be upset. If you go by the overgrade stated on the slab, you are being as dishonest as the company that graded it.
The consigners offering you these no-name holder coins are most likely either suckers that got got scammed and are trying to get some money back or people looking for a sucker. I would not get involved.
KR
I completely agree- if you start taking crap slabs, your reputation will become associated with them. Personally, if I were taking consignments, I would only handle anacs, pcgs, ngc, icg, and old pci holders....
I like the idea of starting a second e-bay ID for this stuff since many buyers will judge you by what you sell. The snooty buyer looking for your best coins might move on if he saw this other stuff. Then you have to be very factual and honest in your description. Show a good photo and say "graded PF 67 by Joe Smith Grading Company" period. Then I would answer questions honestly and a bit more candidly than the basic factual description.
--Jerry
<< <i>I think some of the responses are pretty elitist. >>
It has nothing to do with elitism, and everything to do with the fact that these garbage slabbers are perpetrating a fraud on the hobby.
Russ, NCNE
<< <i>
<< <i>I think some of the responses are pretty elitist. >>
It has nothing to do with elitism, and everything to do with the fact that these garbage slabbers are perpetrating a fraud on the hobby.
Russ, NCNE >>
Exactly correct!
I think offering anything other than PCGS and possibly some selected NGC or ANACS coins will hurt your reputation as a responsible seller, JMO.
If you don't hear complaints and don't get a higher % of returns, you can always shift back to one ID, but you can't separate once the damage is done.
A witty saying proves nothing- Voltaire (1694 - 1778)
An error does not become truth by reason of multiplied propagation, nor
does the truth become error because nobody will see it. -Mohandas K. Gandhi (1869-1948)
You have a good business idea and seem to be getting good money without investing in inventory.
If your worried about reputation use an assumed name for your business. If there is a hassle simply change the name.
THE ONLY CONDITIONAL REQUIREMENT IN THE COIN BUSINESS IS MAKING MONEY!