Seller advice on Ebay respectfully requested
Rob85635
Posts: 1,230 ✭✭✭
For those of you who sell on ebay and use the money to enhance your personal collection or to those who sell just to make extra money, I would like to solicit some advice and recommendations.
I am not really an Ebay seller, on occasion I have, but mostly I buy. I would like to start trying to use Ebay to make a profit so I can further enhance my personal collection. If anyone has some ideas that they can suggest I am all ears.
My startup funds are limited and I don't really have anything that I can think of that people might like to buy but I thought I would ask anyway. I am not asking how to make a fortune, because I know that unless I have a fortune it won't happen. Should anyone have any ideas on merchandise I can buy (perhaps certain mint products that generally sell out and go up within 6 months?) and turnaround later and make a little profit I would appreciate the help.
Thanks for any advice or recommendations.
I am not really an Ebay seller, on occasion I have, but mostly I buy. I would like to start trying to use Ebay to make a profit so I can further enhance my personal collection. If anyone has some ideas that they can suggest I am all ears.
My startup funds are limited and I don't really have anything that I can think of that people might like to buy but I thought I would ask anyway. I am not asking how to make a fortune, because I know that unless I have a fortune it won't happen. Should anyone have any ideas on merchandise I can buy (perhaps certain mint products that generally sell out and go up within 6 months?) and turnaround later and make a little profit I would appreciate the help.
Thanks for any advice or recommendations.
Rob the Newbie
0
Comments
products that generally sell out and go up within 6 months?) and turnaround
later and make a little profit I would appreciate the help."
///////////////////////////////////////////////////////////
That Q has been asked 10,000 times on the EBAY boards.
It is always answered the same:
"NOBODY is going to tell you that. They are going to do it themselves."
That said:
If you want to play on EBAY, start with the stuff around your
house and in your garage. Get the feel of the system.
Find something you like to deal in, and deal in it.
<< <i>If anyone has some ideas that they can suggest I am all ears. >>
Buy stuff that you can sell for more than you paid.
Russ, NCNE
<< <i>go to Nogales and buy some drugs........ >>
How did you know I live so close to Nogales? And what drugs sell best?
<< <i>"NOBODY is going to tell you that. They are going to do it themselves." >>
I almost wrote in my initial post that I was not expecting people to reveal their best ideas/secrets, I knew no one would provide that. Was just hoping for a little starter advice.
<< <i>Buy stuff that you can sell for more than you paid. >>
Ugh, Shot down by the most respected forum member.... can a Mod delete this thread, I sense I will get blasted some more.
<< <i>How did you know I live so close to Nogales? And what drugs sell best? >>
I saw your profile. I live in Tucson. Viagra might sell.
<< <i>Ugh, Shot down by the most respected forum member.... can a Mod delete this thread, I sense I will get blasted some more.
No, you didn't get shot down- you got as simple and straightforward an answer as you could get to your question.
Go through your collection and pull out any extras you might have and list them. Using the money you get from those sales, look for stuff to buy that you like (as a general rule, if you pick out what you think is nice stuff, there'll probably be other people who agree with you) that's priced such that you can resell for a profit. The problem is- there's really no way to tell you what specifically that might be. You'll just have to keep an eye on what kind of things are selling on eBay and how much they're selling for. When you come across that same sort of material for sale at a shop or a show at a price lower than that, buy it.
There's no magic bullet and it can be a lot of work. There are plenty of opportunities for "learning experiences", so it's probably best to start out with relatively inexpensive stuff so that when you have those experiences, they don't hurt too bad. Bottom line- if it was easy, everybody would be doing it.
<< <i>
<< <i>If anyone has some ideas that they can suggest I am all ears. >>
Buy stuff that you can sell for more than you paid.
Russ, NCNE >>
Now that right there is a smart businessman
Lincoln set Colorless Set
(1) Going to yardsales on the last day of the sale (near the end when people are looking at all the crap that they don't want to pack up and put back in the garage) and buying it all cheap as 1 lot (or sometimes they get it all for free because the people having the sale are happy that someone will haul it all away) - resell on eBay.
(2) Go to lots of auctions and buying the 'mystery boxes' & mixed lots for next to nothing - resell on eBay.
Good luck ~
2nd. start off with selling things that you do not care about. Stuff that is in your way, cleanup and turn it into cash.
3rd. eBay is an auction you could and most likely will loose money.
4th. There is no set plan for ebay or any other auction, what sells hot today might bomb tomorrow. Its like a wave, if you can catch it ride it for as long as it lasts. Then start looking for the next wave.......
5th. Do Not let it become your obsession like I did, last year my ebay business shipped over 5000 packages, had over $250,000 in sales, and still went in the hole, and then Sold/gave away the business. Keep it fun or leave it be.
6th. eBay is an auction you could and most likely will loose money.
7th. figure 10 to 12 % of your sales will go to ebay/paypal. I know there fee structure seems cheap but at the end of the year it adds up to be about 10% for me. And guess what, they raise their fees EVERY year. So does the USPS.....
Good luck and Keep It FUN......
AL
<< <i>
<< <i>
<< <i>If anyone has some ideas that they can suggest I am all ears. >>
Buy stuff that you can sell for more than you paid.
Russ, NCNE >>
Now that right there is a smart businessman
You would be surprised at how many people forget this simple rule for business success!
An authorized PCGS dealer, and a contributor to the Red Book.
"Looks DMPL!"
"Blast White"
"MS-(insert insanely high grade here)"
"Trends for $(insert insanely high price here) in MS-(insert insanely high grade here)"
"Key Date"
"Ultra Rare"
"I'm not a professional grader, so this is a conservative grade"
"High Grade MS (or BU)"
*And then take as much blurry pics of your coins as possible to keep the bidders guessing. Good luck!
Russ, NCNE
That may sound obvious but when broken down, that is brilliant advice.
Figure out what markets of coin collecting you know best (Lincolns, Morgans Etc). Look at ebay and figure out what the going prices are for those coins/markets. Go to shows and find the deals that are selling for less on ebay AFTER FEES.
Also, I hate to be morbid but if you're in Arizona you should be hitting the estate sales every week. Especially in the higher per capita income zip codes. Many great finds in coins and other collectables.
Rob
"Those guys weren't Fathers they were...Mothers."
Then troll for suckers.
Seems to work for all of the other @#$^% sellers on the 'Bay.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I f you look for auction lots without good descriptions, you can buy the lot cheap and break it down into individual items, I have bought lots for $60.00 and after breaking it down flipped it for $800, you can use programs like e-snipe and low ball bid these lots, if you win your in luck, if you don't win just keep going. The advantage of using e-snipe is that you don't get into a bidding war, you have the opportunity to to cancel the bid before the end of the auction, unlike canceling bids on eBay, and you can set up bid groups, once you get the item you want in that group it cancels the rest of the auctions.
Another thing you can do is network with local Pawn shops, Banks etc... make contacts with those that may know collectors or just someone that has stashed old coins for a long time, in some cases you don't have to put up any upfront money, you can sell it for them for a commision, keep up with all cost and don't sell yourself short.
You will want to use a program like turbo lister so that you can make templates for generic types of items. Stay away from claiming grades on coins if your not sure, you can suggest what you think it may be if it's not graded but always let the buyer decide for themselves. When your item sells ship it a soon as your paid, don't let it sit around, nothing better for good feedback than buyers that are happy with quick shipping.
Learn what key words work, if your going to sell an item look at the items that have already sold in that catagory, you can use advanced search to look at completed auctions, look at the key words in the title, the more keywords the better chance you have of being found in a search. Avoid reserve price auctions, if you have to have a certain amount for an item use buy it now or start the auction at the price your willing to part with the item for. If your selling an item that is flodding the market and start the auction at 99 cents don't be surprised if you lose money on it. Offer PayPal, some people won't use anyother form of payment, plus it speeds up the process.
Learn the times to list in the type of item you want to sell, avoid auctions ending on holidays where people go out and spend less time on the computer, try different auction lengths, see what works for you, 3 day auctions work for some items, 5 or 7 for others, the two best days for your auction to get noticed is the day you list it and the day it ends.
There are a lot of things you can do right and a lot of things you can do wrong, start small and work your way up.
One thing you can do wrong is let the click's on this board get you down. I know a few of you won't like that but frankly, I don't give a damn.
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
Also have some other stuff I can part with. It is a start, I will continue to go through boxes of stuff. Thank you all
If I didn't have a part time job with our police department I might consider the Viagra angle, LOL
Rob
<< <i>Use words and phrases in your auctions like:
"Looks DMPL!"
"Blast White"
"MS-(insert insanely high grade here)"
"Trends for $(insert insanely high price here) in MS-(insert insanely high grade here)"
"Key Date"
"Ultra Rare"
"I'm not a professional grader, so this is a conservative grade"
"High Grade MS (or BU)"
*And then take as much blurry pics of your coins as possible to keep the bidders guessing. Good luck! >>
oooo! Very good advice!
There's more tips to being a successful coin dealer on eBay:
1) If your coins are quite old but they look absolutely horrendous, stick them in an old wooden cigar box and tell your buyers you found them at a "farm sale". Put the crusty coins on top and make sure the shiny ones are on the bottom, so that buyers will think you don't know what you're doing.
2) If your coins have been harshly cleaned, artificially tone them. If they've been toned, dip them white. eBayers like things that are unoriginal and tampered with
3) Be sure to charge at least $10 shipping, even if it's for a tiny single coin. Lots of profits can be found in "handling".
4) When advertising a harshly cleaned coin, be deceptively honest, and call it "BU blast white, a real CLEAN coin!"
5) Sell all your old proof silver eagles as the rare "W" variety
6) Always quote what the high book MS67 PCGS values are for all the coins you are selling. Buyers can't resist seeing all those zeros after a dollar sign, even if your coins are considerably worse.
7) For common date coins, make intentional mistakes. For instance, list an 1880 morgan as "1880 CC morgan" in the title, then put it in the 1881CC auction category, and show a picture of the actual coin you are selling, which is the regular 1880. In the auction description, explain that the title and pics say it all!
8) After you cherrypick through mint and proof sets, be sure to explain to your buyers that you've especially cherrypicked for them!
9) Try listing 10 coin lots of "slabbed" morgans. Make sure 1 of the coins is lowgrade PCGS, while the other 9 are SGS or some other bogus TPG. This way you can keyword spam and trick your buyers into thinking they are all PCGS. Put the PCGS coin on top of the stack for photography purposes, of course.
10) If the farm sale story gets old or people start catching on, change it up a bit. Pretend you are a scorned lover selling all your hubby's coins for cheap just to piss him off. This will also lend credibility to your "I know nothing about coins" statement.
Russ, NCNE