What would you do?
coolest
Posts: 2,281 ✭✭✭
If you were auctioning a coin that you know is worth $2500 and the closing bid was $300.
Would you ship the coin to its new owner with a thank you?
Would you ship the coin to its new owner with a thank you?
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Comments
EBAY is a broken-market, and it is dangerous to price anything for less
than the amount you will happy to sell the item for.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Why do you think it is worth $2500?
Seriously, why did you list a $2500 coin with a low enough starting point for it to close at $300? If you did it to save listing fees, then I'd say that you screwed yourself. Should have used a reserve. As the Slick one once told Juanita Brodderick, "You better put some ice on that."
If you're asking if you should keep the coin and then end keeping it instead of sending the coin, you will have to at the very least change your user name on the forums as it would not seem applicable any longer.
No offense intended at all, but you listed it, the buyer just got what appears to be a deal. Not his fault.
Was it a kinda oddball item you were selling?
<< <i>Sounds like keeping the coin is not the question, but if you ship it with a thank you. A thank you with a mention of what a great buy the bidder got would be fine.
If you're asking if you should keep the coin and then end keeping it instead of sending the coin, you will have to at the very least change your user name on the forums as it would not seem applicable any longer. >>
Just to clarify this has not happened, to me anyway. But I am currently selling a 1911-D quarter eagle that I sure is worth $1500++ and the current bid is $305 with only 10 hours left. It could conceivably close at the current price if the few buyers looking happened to get busy when the auction was closing.
you can't go by the "current highest bid" anymore on auctions. With so many last minute bidders and snipers these days, you might as well forget to try to tell about the final price until it's over. Hardly anybody bids "normal" these days.......and wins.
-wes
Too many positive BST transactions with too many members to list.
<< <i>If you were auctioning a coin that you know is worth $2500 and the closing bid was $300.
Would you ship the coin to its new owner with a thank you? >>
If you were auctioning a coin that you know is worth $300 and the closing bid was $2500, would you expect the coin's new owner to send payment along with a thank you?
<< <i>I am currently selling a 1911-D quarter eagle that I sure is worth $1500++ >>
Is the coin certified? Lots of fakes out there...that's probably why there aren't many bids.
<< <i>
<< <i>If you were auctioning a coin that you know is worth $2500 and the closing bid was $300.
Would you ship the coin to its new owner with a thank you? >>
If you were auctioning a coin that you know is worth $300 and the closing bid was $2500, would you expect the coin's new owner to send payment along with a thank you? >>
No I dont belive in ripping people off or letting people rip me off. Guess I am the odd one.
<< <i>
<< <i>I am currently selling a 1911-D quarter eagle that I sure is worth $1500++ >>
Is the coin certified? Lots of fakes out there...that's probably why there aren't many bids. >>
ANACS AU-50, cleaned
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Sold for: $1,265.00 May 29, 2008
Why didnt you put a picture of the slab in your auction? I always like to see the whole thing.
....seen it a thousand times.
<< <i>
<< <i>
<< <i>If you were auctioning a coin that you know is worth $2500 and the closing bid was $300.
Would you ship the coin to its new owner with a thank you? >>
If you were auctioning a coin that you know is worth $300 and the closing bid was $2500, would you expect the coin's new owner to send payment along with a thank you? >>
No I dont belive in ripping people off or letting people rip me off. Guess I am the odd one. >>
I guess I don't understand- if you're just going to ignore the results if you don't like them, what's the point of using an auction to sell your coins?
<< <i>
<< <i>
<< <i>
<< <i>If you were auctioning a coin that you know is worth $2500 and the closing bid was $300.
Would you ship the coin to its new owner with a thank you? >>
If you were auctioning a coin that you know is worth $300 and the closing bid was $2500, would you expect the coin's new owner to send payment along with a thank you? >>
No I dont belive in ripping people off or letting people rip me off. Guess I am the odd one. >>
I guess I don't understand- if you're just going to ignore the results if you don't like them, what's the point of using an auction to sell your coins? >>
To get a fair price as a seller or as a buyer to pay a fair price within reason. Getting 15% of what something is worth or paying 10 times what something is worth is not within reason imho. To each their own I guess.
<< <i>To get a fair price as a seller or as a buyer to pay a fair price within reason. Getting 15% of what something is worth or paying 10 times what something is worth is not within reason imho. To each their own I guess. >>
I don't understand your logic. Why would anyone bid 10 times what a coin is worth?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It's up to $510 already because of greedy forum members!
<< <i>To get a fair price as a seller or as a buyer to pay a fair price within reason. Getting 15% of what something is worth or paying 10 times what something is worth is not within reason imho. To each their own I guess. >>
How do you know your assessment of the value of the coin is the reasonable one? By suggesting that you'd ignore the results of an auction, you're claiming that you know something the other party doesn't. Is it possible that maybe the other party knows something you don't?
I was a Monkey
<< <i>You takes your chances.... the winning bid gets the coin... tough if it is a low bid. Your problem. Learn business. Cheers, RickO >>
Would an expert entrepreneur such as yourself ever start an auction with no reserve?
Phoenix
<< <i>I'd ship it, no problem, and say thanks for the smooth transaction. By selling it and putting up for bid with no reserve, it is your obligation to fulfill the your end of the bargain, even if it sells for 99 cents. Do unto others, IMHO.
Phoenix
Where is Cool?
<< <i>
<< <i>I'd ship it, no problem, and say thanks for the smooth transaction. By selling it and putting up for bid with no reserve, it is your obligation to fulfill the your end of the bargain, even if it sells for 99 cents. Do unto others, IMHO.
Phoenix
Where is Cool? >>
I have no idea, just saw the pic as a choice for avatar, and thought it was, well, cool.
Phoenix
what it will bring on the auction block, Your personal idea
of worth counts for nothing.
Nice comeback!
<< <i>If you were auctioning a coin that you know is worth $2500 and the closing bid was $300.
Would you ship the coin to its new owner with a thank you? >>
Yes.
<< <i>No I would not take that big of a loss. I would take the negative and keep the coin. >>
Kudos - at least you are honest about it.
There are many, many sellers who feel the same way. They feel no obligation to let something go
for a song. Fact is, eBay is a venue to sell, and there are buyers and sellers who do not follow
through with transactions.
This type of situation would make an excellent "what if" for an ethical situation in The Numismatist.
People feel strongly about it, one way or the other. Some folks believe that it is a legal contract,
and others realize that this is hardly practical, in the legal sense. What is it, exactly, which "forces"
the seller to take a huge loss on an item, for whatever the reason.
I don't know all the answers, but I can appreciate the seller's viewpoint about not wishing to part
with an item at a ridiculous price.
John
SFC, US Army (Ret.) 1974-1994
<< <i>Closed for $1000.05
Nice comeback! >>
Better then $300
Can you imagine this happening in a live auction? Just as the hammer is about to fall, someone whispers in the auctioneer's ear, and he says "I'm sorry ladies and gentlemen but the seller has decided not to sell the item at that price."
<< <i>
<< <i>Closed for $1000.05
Nice comeback! >>
Better then $300
Compared with the NCS coin that sold for $1,265 on Heritage, that price is about right, given the following:
1. It is in ANACS plastic, not NCS
2. The coin appears much more harshly cleaned than the NCS one (literally looks like a Brillo pad was used)
3. The "Weak D" is barely visible.
No way that coin is worth anywhere near $2,500.
Here is a hypothetical for you.
If you have a coin that is worth $100,000 by every guide and sales history for an identical item.
You decide to sell the coin in a small towns coin auction and set no reserve.
200 people show up at the coin auction all of them have $5,000 to spend on coins.
Your coin sells for $5,000.
Was your coin only worth $5,000?
<< <i>Glad your coin sold for more than $300, please set a reserve or a start price that is close to the minimum you are willing to sell for next time.
Here is a hypothetical for you.
If you have a coin that is worth $100,000 by every guide and sales history for an identical item.
You decide to sell the coin in a small towns coin auction and set no reserve.
200 people show up at the coin auction all of them have $5,000 to spend on coins.
Your coin sells for $5,000.
Was your coin only worth $5,000? >>
My original question assumes that you could take the coin to any coin shop and the owner would be happy to give you $2500 cash.
In reality we know a coin is only worth what sonone is willing to pay. But how many VAM collectors have paid $20 for a coin that regularly sells for several hudered. Or how about full step Jefferson collector that pays one dollar for a 1953-S Nickel that just happens to be" worth" $5000.
About e-bay auctions: I think all auctions should be of this type. I don't like it when people tell me how much their coin is worth and I don't want to do that others. But I would consider advertising to increase value.
It's the very possibility of the OP's situation that would keep me up nights...
1/2 Cents
U.S. Revenue Stamps
Total Copper Nutcase - African, British Ships, Channel Islands!!!
'Do not meddle in the affairs of dragons, for you are crunchy and taste good with ketchup'