Poll: Would you ever consider buying a coin on EBAY with a "no return" policy?

gecko109 · June 20, 2008 9:17AM

I'd like to know what you guys think about this topic. As a collector, I sometimes sell duplicates of coins I have upgraded, and always offered a return policy. However, since im getting out of type coins completely, my current auctions are with the stipulation of no returns. But all auctions started at 1 cent with no reserve, so whatever the coin sells for is a price that the winner was presumably comfortable with. Thoughts?

Russ · June 20, 2008 9:20AM

I've done it many times.

Russ, NCNE

gecko109 · June 20, 2008 9:23AM

Russ, how much do you think my "no return" policy will affect my final hammer prices as expressed as a percentile? I know its strictly speculation, but would you say as high as 10% less money?

ricko · June 20, 2008 9:25AM

A lot would depend on the sellers history, the quality of the pictures, a discussion on the phone, and available feedback. Cheers, RickO

Barbercoin · June 20, 2008 9:34AM

I killed me, but I turned down a beauty just the other day because there was no stated return policy. I emailed the owner and never heard back from him, so I did not bid. Even though the images were fairly good and the price was right, I've just heard too many people getting burned after the fact.

Of course this seller was relatively new; all the more reason to be cautious. After all, it is an auction, and buyer takes it as it comes (for the most part).

That's just my opinion.

Russ · June 20, 2008 9:37AM

<< Russ, how much do you think my "no return" policy will affect my final hammer prices as expressed as a percentile? >>

That's impossible to answer. All I can say is that it's never had any impact on what I'm willing to bid. But then, I don't expect an approval service when I'm bidding at auction.

Russ, NCNE

pennyannie · June 20, 2008 9:57AM

If you take paypal YOU HAVE A RETURN policy. Any buyer can send it back and YOU WILL refund the money. Paypal does not give a crap about you the seller. A buyer can screw you at any point. If you do not want returns do not accept paypal.

Elcontador · June 20, 2008 9:59AM

I wouldn't ever consider buying a coin on e-bay in the first place, so for me, the question is irrelevant.

tydye · June 20, 2008 9:59AM

I would and have but my bidding would be on the ultra conservative side.

speedracer75 · June 20, 2008 10:02AM

Depends on how many feedbacks they've gotten for their perfect feedback. I'd feel much safer with a perfect feedback and 1000+ rating than perfect feedback and a 50 rating. But all things considered, I probably would still buy unless it was just screaming SCAM.

gecko109 · June 20, 2008 10:16AM

<< If you take paypal YOU HAVE A RETURN policy. Any buyer can send it back and YOU WILL refund the money. Paypal does not give a crap about you the seller. A buyer can screw you at any point. If you do not want returns do not accept paypal. >>

Is there any validity to this claim? Even if my auction states no returns, a paypal buyer can return the item for a refund?

Russ · June 20, 2008 10:41AM

<< Even if my auction states no returns, a paypal buyer can return the item for a refund? >>

Yep. As-is and no return policies have just as much weight as "not responsible for loss or damage" shipping policies.

Russ, NCNE

TomB · June 20, 2008 11:10AM

I will not bid in "no return" auctions. However, at one time an ebay member was selling what appeared to be a terrific example of a coin that I had been looking for over the course of several years and he had the auction listed as "no return". I sent him a message through ebay asking if I could return the coin if it did not meet my standards and he said he would extend that option to me. It turned out that I bid on the coin with that assurance and one an absolutely superb coin that would be in my hypothetical box of 20.

farthing · June 20, 2008 11:17AM

In all my years on eBay I've never checked a sellers return policy.

Bochiman · June 20, 2008 11:21AM

Depends on the seller and feedback noticed....also how the auction is presented (ie.....cheesy? too good to be true? etc etc etc).

Stating no returns is an easy way to keep out the tire kickers.....but also lose potential bidders.

if it were me, in your shoes, I would put something akin to: "Getting out of my type coins, and US coins, see other auctions. That's why no returns. If there are questions or concerns, feel free to contact me prior to the end of the auction, so I can reply in time. Thank you"

gtstang · June 20, 2008 11:30AM

it REALLY REALLY REALLY depends on the coin

mr1931S · June 20, 2008 11:32AM

I've been seeing more and more sellers who will not accept Paypal.As for buying with a "no return" policy,I've done it.
I once asked a seller about his return policy. He told me that no, he does not have a "buyers remorse" policy. I bought a coin from him anyway.There was no problem.

RYK · June 20, 2008 11:43AM

With the exception of Russ's auctions, I will only place lowball bids on "no return" coin auctions.

dac076 · June 20, 2008 12:04PM

On some items it's expected that there are no returns allowed - culls, as-is lots, certified coins (with good photos), etc. On most other items, sellers accept returns. When selling, I've always had a no-questions-asked policy, and have had very few returns. When buying, I rarely worry about the buyer's policy. If I get a bad feeling about the seller, I don't bid in the first place.

puritan9 · June 20, 2008 12:11PM

I will only buy with Pay Pal with a credit card. I also accept only Pay Pal in auctions that I am selling.

Bear · June 20, 2008 12:13PM

Out of almost 500 transactions, I have returned only

three items. However, I will not, as a matter of practice,

bid on an item ,with a no return clause.

mr1931S · June 20, 2008 12:29PM

I will only place lowball bids on "no return" coin auctions.

So you're the guy who starts the bidding action out at a penny,eh?

ziggy29 · June 20, 2008 12:31PM

With good pictures, a seemingly reputable seller and a low ball bid, I could be persuaded to take the chance.

mr1931S · June 20, 2008 12:36PM

On some items it's expected that there are no returns allowed - culls, as-is lots, certified coins (with good photos), etc.

It really frosts me when they won't take that unsearched roll back.You know,the one with the VDB showing at each end.

So if I buy an unsearched roll using PayPal, I can get my money back even if I open the roll and decide that I paid too much?

ArizonaJack · June 20, 2008 12:47PM

<< On some items it's expected that there are no returns allowed - culls, as-is lots, certified coins (with good photos), etc.

It really frosts me when they won't take that unsearched roll back.You know,the one with the VDB showing at each end.

So if I buy an unsearched roll using PayPal, I can get my money back even if I open the roll and decide that I paid too much? >>

Exact situation happened on cointalk. A "spoof" auction mocking these shysters was listed by a buddy of mine, and one of the shysters won the auction, filed a PP dispute, won, sent him a roll of culls and negged him.

jonathanb · June 20, 2008 12:49PM

Yes

Bayard1908 · June 20, 2008 12:50PM

It must be in a reputable slab. The seller must take Paypal. I must really like the coin and/or the price must be attractive.

mr1931S · June 20, 2008 1:09PM

It must be in a reputable slab. The seller must take Paypal.

If you don't like the coin you can send it back for refund then,right? It doen't matter what the seller says about "no return of slabbed coin?"

As long as bought using PayPal the coin can be returned is what I've been hearing in this thread.

gecko109 · June 20, 2008 1:23PM

<< It must be in a reputable slab. The seller must take Paypal.

If you don't like the coin you can send it back for refund then,right? It doen't matter what the seller says about "no return of slabbed coin?"

As long as bought using PayPal the coin can be returned is what I've been hearing in this thread. >>

I actually called paypal a couple hours ago, heres the scoop. If the buyer claims that the item is not the item described in the auction, or if item is damaged, buyer can file for refund dispute via paypal. However, the customer service rep specifically told me this DOES NOT cover "buyer's remorse".

mrpotatoheadd · June 20, 2008 1:43PM

Last year, one of my buyers filed a "not as described" claim. The buyer never emailed me about this and ignored my repeated attempts to contact him. PayPal was completely uninterested in determining whether or not the buyer's claim was valid (read: PayPal didn't care about my side of the story).

PayPal ended up taking money out of my account to refund the buyer.

Before the buyer returned the coin.

FWIW...

pennyannie · June 20, 2008 2:06PM

gecko109- The buyer will not tell paypal it is buyers remorse. Buyer can say that there was no coin in the package, a different coin, whatever. Byer can send you a cull coin as a return for the 1000 dollar coin they won. You will be out a 1000 dollars and the actual coin. Paypal is quick to freeze your funds and slow to release them.

To this day i am amazed at how many sellers do not spend the 50 cents for delivery confirmation. At least the seller can show something arrived at the buyers address.

I have sold about 3000 items ( not all coins) on ebay and have had fewer than 8 issues. As much as i hate Paypal that is the only form of payment i show i accept. I still have people buy my items and then say, " i do not do paypal, i will send you a check" LOL. At times ebay is comical. I just go with the flow. I generally only bid on auctions that accept paypal unless item is under 50 dollars.

howards · June 20, 2008 2:12PM

Sure, but only if it's a guaranteed rip.

Have done it many times.

garsmith · June 20, 2008 3:49PM

I would buy a slabbed coin under those conditions if I new the seller.

DDR · June 20, 2008 11:35PM

Gecko109,

I have in the past bid on "no return" auctions, but there are many factors that go into making the decision: reputation of the seller; quality of the pics; type of holder (if any), etc., etc.,

However, I am much less likely to bid on such an auction and my bid will be lower than what it would ordinarily be in order to compensate for the risk I am taking.

BS · June 20, 2008 11:45PM

It would depend on the seller and the quality of the photos. I checked out your auctions and would
never bid with the pictures you're using. I noticed that you've had an item returned in the past, is that
the reason for the no returns?

gecko109 · June 20, 2008 11:46PM

<< It would depend on the seller and the quality of the photos. I checked out your auctions and would
never bid with the pictures you're using. I noticed that you've had an item returned in the past, is that
the reason for the no returns? >>

No, the reason is im getting out of type coins for good.

gecko109 · June 20, 2008 11:55PM

As it stands right now, with 106 votes in, 80% of you WOULD buy a coin with no returns under the right circumstances. FYI, I would also buy a coin under those conditions as well, and have done so in the past. By the way, a "no return" policy doesnt not automatically make the seller a scammer or garbage slinger. As Russ said, its an auction, not an approval service. Of the hundreds of coins I have previously sold on ebay, I ALWAYS accepted returns. With that policy in place, I have had exactly 3 coins come back to me. However, since I have zero desire in owning these coins on the auction block, I have for the first time instituted a no return policy on them. Im not snakey, I just dont want them back.

TwoSides2aCoin · June 20, 2008 11:59PM

If there's elbow room and I want it, I sure wouldn't want to return it.

lcoopie · June 21, 2008 12:17AM

I might

but only if they accept paypal

which would protect me if there was a flagrant problem

Walmann · June 21, 2008 12:17AM

If you have good photos and these are decent coins you may want to have a return policy just to realize a higher price. Most likely the number of returns will be either very very few or none if these are decent coins. The relisting fees and time spent on the process for the few returns will most likely be outweighed by the higher return on all sales.

In other words a no return policy will most likely cost you more than what you would save on dealing with a return or two.

gecko109 · June 21, 2008 12:22AM

<< If you have good photos and these are decent coins you may want to have a return policy just to realize a higher price. Most likely the number of returns will be either very very few or none if these are decent coins. The relisting fees and time spent on the process for the few returns will most likely be outweighed by the higher return on all sales.

In other words a no return policy will most likely cost you more than what you would save on dealing with a return or two. >>

Yes, I did consider that aspect Walt. I do think my bottom line will be affected slightly with my new policy. But im a gambler by nature, and I really do not want any of these coins back. So I rolled the dice, lets just hope I dont crap out!

Russ · June 21, 2008 2:48AM

<< However, the customer service rep specifically told me this DOES NOT cover "buyer's remorse". >>

Russ, NCNE

Poll: Would you ever consider buying a coin on EBAY with a "no return" policy?

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Poll: Would you ever consider buying a coin on EBAY with a &quot;no return&quot; policy?

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Poll: Would you ever consider buying a coin on EBAY with a "no return" policy?