Are Restocking Fees a bunch of bs?

pcgs69 · February 13, 2008 12:47PM

I'm not sure if it's different for a regular merchant account, but if you refund someone through Paypal, you get all the fees refunded... Is a Restocking fee legit, or just a way for a dealer to deter unnecessary returns?

YaHa · February 13, 2008 12:52PM

Time is money, you think this is Mexico?

notwilight · February 13, 2008 12:54PM

It's a way to pay for labor which is assumed her to be free...personally, I think handling charges for routine shipping labor are reasonable but restocking fees should be absorbed. If you're getting hit with a lot of returns then you're doing something wrong. --Jerry

sparky64 · February 13, 2008 12:57PM

No experience with it but I'm guessing a dealer has to take the time to look it over to be sure it's the same coin in the same condition. Write you a check or pay you back somehow. Log it back into inventory, etc. Shouldn't be much of a fee though otherwise it would be bs.

commoncents05 · February 13, 2008 1:04PM

I think a small restocking fee is reasonable. Take TT for example. It's not ridiculous for them to take a coin back, after losing money on the labor shipping it out, putting it back into inventory, taking pics, etc.

-Paul

Lakesammman · February 13, 2008 1:07PM

Taking back returns is the cost of doing business - it shouldn't be charged to sight-unseen sales. If you accurately describe and illustrate the coin, the return rate should be low. If you hype ugly coins, you deserve to get them back.

percyb · February 13, 2008 1:08PM

Not unless you're really desperate and on the brink of financial ruin, me thinks.

TomB · February 13, 2008 1:25PM

I interpret a restocking fee to be a preemptive admission by the seller that there is a good chance that inferior or misrepresented goods will be sent to the buyer and that the threat of the restocking fee will serve as a deterrent to a valid return.

ahooka454 · February 13, 2008 1:26PM

<<I interpret a restocking fee to be a preemptive admission by the seller that there is a good chance that inferior or misrepresented goods will be sent to the buyer and that the threat of the restocking fee will serve as a deterrent to a valid return>>

Exactly what I was thinking.

19Lyds · February 13, 2008 1:36PM

Kinda the same as "Handling" fee's.

19Lyds · February 13, 2008 1:38PM

<< <i>I interpret a restocking fee to be a preemptive admission by the seller that there is a good chance that inferior or misrepresented goods will be sent to the buyer and that the threat of the restocking fee will serve as a deterrent to a valid return. >>

Not necessarily Tom, perhaps a restocking fee is aim at quelling "Buyers Remorse"?

MajorDuty · February 13, 2008 1:39PM

Me thinks those in favor of "restocking fees" are they themselves frequent sellers.

Sure, time (and gas) is money, but the Vast majority of those requesting restocking fees are simply, and in my opinion, obviously, doing it solely to recoup some finances out of the annoyance of it all. Those same sellers usually have high shipping charges, too. Go ahead and check it out and post examples.

In short, and to make to too simple, restocking fees is all a bunch of crap when it comes to coins. It's not like you have a Sam's Club for coins and it costs a lot to "restock", and even if you do, those businesses don't charge those fees anyway because of their customer service. Does Heritage? I don't think so. Does Russ? I don't think so. WAIT! WTF!? Did I just use Heritage and Russ in the same sentence? WTH?!

For those of you that charge "restocking" fees: YOU SUCK! YOU SUCK BALLS! There. I said it.

MajorDuty · February 13, 2008 1:40PM

<< <i>Taking back returns is the cost of doing business - it shouldn't be charged to sight-unseen sales. If you accurately describe and illustrate the coin, the return rate should be low. If you hype ugly coins, you deserve to get them back. >>

Exactly. Wut he sed.

stman · February 13, 2008 1:41PM

If I can help it, I won't buy from anyone with a restocking fee. Same thing for handling fee, and also the ones that have decided they are in the insurance business and self insure. Just sick and tired of being sick and tired

of what IMO is a bunch of shenanigans.

Mar327 · February 13, 2008 1:46PM

I don't see the need for them. If you're selling an item and have a return policy, then you should expect to get things back once in awhile and it's part of business. Especially coins with questionable pictures, people need to see them in hand to decide. Suck it up!

Unknown · February 13, 2008 1:55PM

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Rarity · February 13, 2008 2:08PM

I do not buy coin with 15% restocking fee charge. 15% of a $1000 coin is $150 which is high in my opinion.

sinin1 · February 13, 2008 2:12PM

returning coins purchased at auction is a bunch of bs

mr1931S · February 13, 2008 2:17PM

I think the term "restocking fee" is really just a euphemism for "if you want to return its not going to be free to you because this is not an approval service."

I think 15% fee is outrageous.3-5% is not unreasonable in my opinion,however.

gecko109 · February 13, 2008 3:02PM

I agree with sinin and mr1874. When I sell a coin on ebay, and its not very often, I am not sending a coin out for you to inspect and return at your leisure. Although I have had only a single return from about 200 ebay sales, and never had a restocking fee, lets face it, im not an "approval service". Im simply a collector thining out my collection whenever I upgrade. As a buyer, remember, YOU set the final sale price, not me. If I was trying to make a living selling coins online (and thank god I dont), I would have some type of moderate restock fee just to deter those buyers who are never quite happy, no matter what. And I think you guys know what im talking about.

Dave99B · February 13, 2008 3:04PM

I interpret a restocking fee to be a preemptive admission by the seller that there is a good chance that inferior or misrepresented goods will be sent to the buyer and that the threat of the restocking fee will serve as a deterrent to a valid return.

Tom absolutely nailed it. i.e. buy from me and you'll pay either way.

Dave

mozin · February 13, 2008 3:45PM

I don't buy from dealers using restocking fees.

ArizonaJack · February 13, 2008 4:23PM

Remember SeatedKingo?? He had a 10% restock fee for a reason......as a scam to still make $$$ on returns, AND to deter returns of his junk. I would never consider a restock fee on an EBAY coin anything but ghetto tactics and a warning sign.

clarkbar04 · February 13, 2008 4:25PM

It costs the same to restock a 1985 pr67 DCAM lincoln cent as it does a high relief saint in ms65. So, yes its BS.

Boom · February 13, 2008 4:40PM

For what it's worth, personally, I DO NOT charge restocking fees and on the rare occassion of a return I reimburse the ENTIRE amount paid .... BUT that's just Me!

Many sellers ( not inclusive to eBay) DO CHARGE a restocking fee AND contrary to what another poster stated, Teletrade DOES charge a fee when returning coins. MOST mail order companies charge a fee. This is NOT an uncommon Business practice and there IS a Good Cause to enlist restocking fees in many cases.

Pick up any Numismatic periodical and read the terms of sale and you will find that MANY sellers/ auctioneers DO charge this fee, for various, legitimate reasons.

I have yet to charge to restock and I refund ALL a buyers money.

seatedcoins · February 13, 2008 4:59PM

At one point I had a restocking fee policy of 5% up to $5 maximum, but have since removed it.

mr1931S · February 15, 2008 12:10AM

I would never consider a restock fee on an EBAY coin anything but ghetto tactics and a warning sign.

Well, depends on the percentage with me. For moderately priced item, say $100 to $200, it's not unreasonable for seller to say,euphemisticly, of course, "its going to cost you about $5, in addition to return postage,if you want to return this item." I can live with that if I'm looking at a coin that has captured my imagination and I just gotta find out if it's the real deal.

As a buyer, I understand that sellers on ebay are not in the business of being approval service for finicky collectors. It behooves the buyer to pick and deal with sellers they are comfortable with and not get caught up in unrealistic expectations about the coin(s), being offered by whoever, that have captured their imagination.

It's kind of like going to the movies. I watch movies because of the known-by-me-good-actors in the movie not because of the "fantastic" reviews.

Are Restocking Fees a bunch of bs?

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