A Curious Strategy

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Mokiechan

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I have been following a lot on EBAY for several days and waiting to see if their would be any bidders or if it would simply timeout.  I sometimes use this method to monitor a lot I might want, but am not willing to pay the price, for one reason or another.
Well, this lot of three irradiated dimes caught my eye, and I almost pulled the trigger at the original price but hesitated because the only Dime I was really interested in, was the Dime in the Worlds Fair holder, the other two were nice, but I already had examples.  The price was pretty good though, about $11 each when you added in postage.  The thing that made me hesitate was a thought that maybe if the lot expired without a bid, it would be relisted at a lower price, that happens sometimes, and I often buy when that happens.  

This lot closed without a bid, and the owner did relist but at a HIGHER price, from 29.99 to 31.99 plus postage of 3.89.  Higher Price, what is this dude thinking? It puzzles me.   Maybe he raised the price because:

1.  the old marketing concept of perceived value, if a thing is cheaply priced, the perception is the product is inferior, a higher price raises the perceived value in the eyes of the consumer.   The seller thinks the higher price will attract a better heeled buyer.
2.  Someone told him his original price was too  low and that each of those dimes should sell for at least 15.00 each, he decided to raise the price because he thinks they're correct after doing his own research on irradiated dime sold prices.  But again, it was not a BIN sale, so if there were interest, he should have at least received the minimum bid.
3.  He put no real thought into the price increase, he just saw that EBAY offered to relist and raised the price for heck of it.  

What do you think?  I am still following this lot, but I am far less likely to buy it now, if he had even left the lot the same price, I probably would have put in a minimum bid.

 

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If he really wanted to sell the coins he probably would have left the price as is or maybe even lowered it. Probably thinks that there's no reason to sell it for less than a what he bought it for or its value. How often do you find irradiated coins.

If you want the coin you should simply just send him a a message what you're willing to make an offer he might take it. Good luck. 

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My first reaction was that he thought a buyer might assume that there were problems with one or more of the coins, since they are priced below the average selling price for these dimes. I guess that falls under your number 1 category: Perceived Value.

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I've seen sellers sit with something on inventory for years and never bring the price down. There's a note I've been watching for a while. The seller had it listed for $32.50+$7.50 shipping as a BIN with best offer option. I don't think it's worth that. Apparently no one else does either. After a while he switched to listing it as an auction... except he listed the starting bid as $32.50+$7.50 shipping... why he thinks anyone is going to bid when the starting bid is a price that no one has been willing to snap it up at I'll never understand, but he's relisted this auction with no luck more than once now. I did buy another note from him a while back. It was also listed at $32.50+$7.50, but I haggled him down to $25+$7.50 shipping. But at this point I just don't want to haggle with someone who just doesn't seem to want to accept that it's not worth what he's asking for.

Why do they keep banging their heads on that wall? Why keep paying fees to eBay when it isn't selling? If you don't really want to sell it, if you aren't willing to let it go at a price someone is willing to pay, why list it? Why not just keep it?

I did see a case a while back where a similar item that was listed for about $42 after shipping finally sold after sitting for months, so maybe they're just hoping that if they wait long enough they'll find the right buyer. But I think in some cases they're going to have to sit on that inventory for a LONG time.

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52 minutes ago, Revenant said:

IWhy do they keep banging their heads on that wall? Why keep paying fees to eBay when it isn't selling? If you don't really want to sell it, if you aren't willing to let it go at a price someone is willing to pay, why list it? Why not just keep it?

I did see a case a while back where a similar item that was listed for about $42 after shipping finally sold after sitting for months, so maybe they're just hoping that if they wait long enough they'll find the right buyer. But I think in some cases they're going to have to sit on that inventory for a LONG time.

This seller is not a coin seller either, when I looked at the items he had for sale right now, it was a hodgepodge of old license plates, fishing lures, doodads of various types,  a gauge cluster from an airplane, and the irradiated dimes.  So probably a picker of sorts, and may be, as you stated, just willing to wait for ever, if need be, to get his price.  gtw-123  suggested I just contact him directly and say something like, let's avoid all these pesky fees and I send you 30.00 postpaid for the dimes.  I might give it a try. 

Edited by Mokiechan

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3 hours ago, Just Bob said:

My first reaction was that he thought a buyer might assume that there were problems with one or more of the coins, since they are priced below the average selling price for these dimes. I guess that falls under your number 1 category: Perceived Value.

I think he has know idea of the value, he sells a lot of different items from fishing lures to airplane gauges, he is not a coin specialist, as far as I can see.

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I am currently watching an item for the purpose of pricing an identical item for sale. The owner first listed the item as an auction with a high starting bid. When that didn't sell he listed it for a BIN at a much lower price. When that didn't sell he listed it again for an auction with a higher starting bid but lower than the first. It is interesting to follow this item and somewhat confusing. I hope it sells soon so that I can list my item. At this time I don't want to be competing with him for a sale because I want to determine how best to price and sell my item. So far I'm not getting any indication of how to list my item.

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1 hour ago, Mokiechan said:

This seller is not a coin seller either, when I looked at the items he had for sale right now, it was a hodgepodge of old license plates, fishing lures, doodads of various types,  a gauge cluster from an airplane, and the irradiated dimes.  So probably a picker of sorts, and may be, as you stated, just willing to wait for ever, if need be, to get his price.  gtw-123  suggested I just contact him directly and say something like, let's avoid all these pesky fees and I send you 30.00 postpaid for the dimes.  I might give it a try. 

There was 1 time that I can recall (I think it was for my 1887 10G) when I was able to make something like that work. The seller had an established coin store in another state and I was able to get an email address from them and approach them about it completely separate from eBay. They agreed to take a somewhat reduced price vs what they were asking on eBay if we didn't complete through eBay, saving them the fees. You have to be a bit careful though as eBay has rather strict rules about that sort of thing - officially to protect buyers and sellers and unofficially to protect their fees.

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EBay frequently offers sellers extra incenives to create new listings, like 50% off sellers fees for five new lstings.  This offer only applies to the first listing period, not to relistings of expired listings.  Maybe the seller had an eBay "deal" that only applied to the first listing period, and lowered his initial price accordingly. 

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Well, to my surprise, it has already sold as a BIN.  I could have sworn when he relisted, it was a regular sale auction again.  I wonder if my publicizing it induced someone to contact him and arrange a BIN sale?  Well, regardless, I was never going to bid anyway, just found it kind of interesting.

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16 hours ago, Mokiechan said:

Well, to my surprise, it has already sold as a BIN.  I could have sworn when he relisted, it was a regular sale auction again.  I wonder if my publicizing it induced someone to contact him and arrange a BIN sale?  Well, regardless, I was never going to bid anyway, just found it kind of interesting.

Well, the right person saw it and wanted it. Can't say much more than that. Value is subjective and people overpay for stuff all the time.

Edited by Revenant

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21 hours ago, gtw-123 said:

Looks like there's lots of irradiated dimes available. 

Not sure what the supply and demand is for these. 

https://www.ebay.com/bhp/irradiated-dime

Good luck hope you find what you're looking for. 

Yup, patience is the key, I have a Mercury and Roosevelt Dime in their aluminum holders, I am going to complete the set by getting the Merc and Rosie in the plastic World's Fair Holders.  There is a set on Ebay right now, but the Rosie one looks like a dog or cat chewed on the edges a bit, maybe even a teething ring?  Who knows, but it is thrashed.

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On 5/11/2019 at 7:21 AM, MIKE BYRNE said:

That's were the mistake started. They used The red book not The book Conder collectors use and NGC. It doesn't belong in the red book. It was collected here never used for money never circulated that's from Q.David Bowers. So why is it there. I have no idea I think they needed to fill space. It has none of the information we need to reference it. Read my updates maybe you will get a better idea how important Chris information is. The red book doesn't even say we're in England jigsaw made of who commissioned it. Why it was made. Th e difference in rarity. The one with edge writing is worth thousands.. But The red book does not tell you that. So I went to the net. One dealer has it made in Philadelphia. This is why it has to be removed. Thanks Mike.

I think they all do that it doesn't sell so they raise the item and shipping saying you missed out. One out buy that type selling. I would of passed it up. Mike

On 5/17/2019 at 10:45 AM, Mokiechan said:

Yup, patience is the key, I have a Mercury and Roosevelt Dime in their aluminum holders, I am going to complete the set by getting the Merc and Rosie in the plastic World's Fair Holders.  There is a set on Ebay right now, but the Rosie one looks like a dog or cat chewed on the edges a bit, maybe even a teething ring?  Who knows, but it is thrashed.

 

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