EBay selling
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13 posts in this topic

Greetings. I'm not sure if this is the right forum for this question, but I def am a newbie.

I recently read an article that described a big study that they did on selling coins on eBay.

They studied a lot of different variables such as what kind of photos sold best, etc.

One of thier findings was that starting a coin auction with a 99 cent minimum sold the best.

I don't know about you, but I would be leery of putting a 99 cent minimum on a coin that can easily fetch hundreds.

The thinking here is, if the coin really is worth a lot, potential buyers will know this, and bid the price up to fair value.

I'm don't feel so keen on this practice of putting a 99 cent minimum on a valuable coin.

I think that I would put a minimum somewhere around what I think is fair value for the coin.

How do you feel about this?

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19 minutes ago, Bubblebling said:

Greetings. I'm not sure if this is the right forum for this question, but I def am a newbie.

I recently read an article that described a big study that they did on selling coins on eBay.

They studied a lot of different variables such as what kind of photos sold best, etc.

One of thier findings was that starting a coin auction with a 99 cent minimum sold the best.

I don't know about you, but I would be leery of putting a 99 cent minimum on a coin that can easily fetch hundreds.

The thinking here is, if the coin really is worth a lot, potential buyers will know this, and bid the price up to fair value.

I'm don't feel so keen on this practice of putting a 99 cent minimum on a valuable coin.

I think that I would put a minimum somewhere around what I think is fair value for the coin.

How do you feel about this?

The only thing you can do if u have a coin worth $500 and say it sells at auction for $20 is cancel the sale. More than likely you are still going to be forced to pay final value fees and you will get a negative seller rating from the winning bidder which is really bad because nobody will buy coins from someone with a bad seller rating. But you are correct this forum probably isn’t the best place to ask this question because in all of your other post here you are not willing to listen to anyone!

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From what I have understood from all of your questions that you have been posting are that:

1. You do not know much about coins!

2. You want to start a coin business but don't know how to start.

3. You do not know what kind of coins to sell.

4. You have know idea how auction venues work.

5. Are you familiar with taxes and a business?

I have a really bad feeling that you are going to loose a lot of money if you don't start getting some knowledge on coins, the coin market and auction venues. It seems that you are wanting people here to tell you how to start a business! You may need to find a family member or friend that has a business so you can get an idea of all the legalities and consequences of starting a small business. I can tell you right now that I would not patronize your business as you don't really know anything about the business you want to start. I hate to sound harsh, but you need to start doing some homework yourself than relying on strangers on an internet forum!

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1 hour ago, KyCoinKollektor said:

The only thing you can do if u have a coin worth $500 and say it sells at auction for $20 is cancel the sale. More than likely you are still going to be forced to pay final value fees and you will get a negative seller rating from the winning bidder which is really bad because nobody will buy coins from someone with a bad seller rating. But you are correct this forum probably isn’t the best place to ask this question because in all of your other post here you are not willing to listen to anyone!

Thank you KY. Your advice is well received, I assure you.

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Hi BSShog. No, you do not understand. I must come across as a Dumbo. I'm not nearly as clueless as you think. And I am learning on here. And I do lots of studying and homework every day. No, I am not asking anyone to tell me how how to start and run a business. Where do you come up with this stuff? Not to brag, but I graduated business school with honors. And I have years of business experience.

Sorry, BSShog, but you are way out in left field about me. Sorry I come across so clueless. I have Asperger's syndrome. Maybe this is why.

And I know that I am different. Outspoken, confident, independent, etc. 

I'm not suggesting that the way these folks are doing business is wrong. Becoming outdated prob, but not wrong.

I study coins every day. Honestly, I don't know where you come up with all this stuff about me.

And I wouldn't care the least if you dont want to do business with me.

To be honest, I do think that some folks on here, maybe not you, are a little concerned about an upstart like me, AI, etc. They prob been doing business thier way for the last 30 years or so. They can't imagine anyone or anything being more efficient than they are. Esp a dumb computer, that doesn't know anything about coins like they do.

Anyways, just wanted to let you know that you got it all wrong. I do make my own rules, tho. I'm even going to make my own price guides. I make my own key dates too. Etc. Heaven forbid! This is numismatic treason!

It should give me a competitive edge, tho. I think outside the box. Remember Henry Ford.

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11 minutes ago, Bubblebling said:

Hi BSShog. No, you do not understand. I must come across as a Dumbo. I'm not nearly as clueless as you think. And I am learning on here. And I do lots of studying and homework every day. No, I am not asking anyone to tell me how how to start and run a business. Where do you come up with this stuff? Not to brag, but I graduated business school with honors. And I have years of business experience.

Sorry, BSShog, but you are way out in left field about me. Sorry I come across so clueless. I have Asperger's syndrome. Maybe this is why.

And I know that I am different. Outspoken, confident, independent, etc. 

I'm not suggesting that the way these folks are doing business is wrong. Becoming outdated prob, but not wrong.

I study coins every day. Honestly, I don't know where you come up with all this stuff about me.

And I wouldn't care the least if you dont want to do business with me.

To be honest, I do think that some folks on here, maybe not you, are a little concerned about an upstart like me, AI, etc. They prob been doing business thier way for the last 30 years or so. They can't imagine anyone or anything being more efficient than they are. Esp a dumb computer, that doesn't know anything about coins like they do.

Anyways, just wanted to let you know that you got it all wrong. I do make my own rules, tho. I'm even going to make my own price guides. I make my own key dates too. Etc. Heaven forbid! This is numismatic treason!

It should give me a competitive edge, tho. I think outside the box. Remember Henry Ford.

Key dates are key dates - you can’t “make” your own. It’s comments like you made about them, which cause readers to think/know you don’t know what you’re doing. And you need not believe me, but no one here is concerned about an “upstart” like you. If they were, perhaps they wouldn’t be trying to help you.

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21 hours ago, Bubblebling said:

It should give me a competitive edge, tho. I think outside the box. Remember Henry Ford.

So far, nothing resembles a competitive edge, or any other kind of business edge. You're clearly not "thinking outside the box" Rather, you demonstrate a confused fog - almost obsessive - about what you want to do and how to accomplish it. Attempts to help you understand reality facing you are routinely rejected. Nothing you've written offers any support to your claims, " I graduated business school with honors. And I have years of business experience."

If you are an adult with Asperger Syndrome [aka: autism spectrum disorder (ASD) per DSM-5], then you are already aware of the limitations and perceptual difficulties. It also suggests that suggestions made by folks here might be futile.

I will not say more; that could be counterproductive and possibly damaging.

Edited by RWB
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From a seller with good feedback, with well written descriptions, excellent photos, in the proper categories, coins will normally reach their true value.  Starting an auction at it's full value or what you feel will be it's full value is a sure way to drive bidders away.  

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23 minutes ago, Lancek said:

Wow, some not very welcoming posts.  I hope I can do better.  This seems like a great forum for this question.  Don't cancel a sale early in your ebay career.  Negative feedback like that, without lots of other positive feedback to make up for it, well, you're dead in the water.  Plus ebay keeps track of that kind of stuff.  

And the point of Ebay is that you don't need to have a lot of biz knowledge to make some sales.

When you're just starting out, leave the .99 cent starts to people that have thousands of feedback.  Especially high priced coins. You might not draw in enough bidders to drive the coin up to its full value.  I tried the all .99 cent starts one week.  I've got 100% positive feedback, but only about 90 at that time.  Sold 10 items, but only 2 at full retail.  3 way under.  The only good thing that came out of it was that it did draw people in and a few Buy it Now items also sold.

And you don't have to do all one way.  List a few mid priced coins at 99, see how if goes.  Even some ebay sellers with 200k feedback only start some of their coins at 99.  My local coin shop sells most of his stuff on ebay.  He has moved away from .99 cent starts entirely.

Starting at full value isn't going to lead to many sales either.  Don't use the reserve price option.  People hate that.  If you have a min you want, start it there.  But start some other stuff low.  See what happens.

 

 

 

You might want to reference all the other posts that the OP has started before you draw the conclusion that he hasn't had any positive/welcoming posts. 

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Back to the OP topic 

Every 99c I did I lost money so I do not do it ( Business sense :-) ) 

I go on margin and you cannot lose ( of course YOUR margin plus 10% for ebay and 3.3 percent for Paypal) 

Then there are those you just start at melt and see where it goes as long as you purchased right  :-) 

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1 hour ago, jgrinz said:

Back to the OP topic 

Every 99c I did I lost money so I do not do it ( Business sense :-) ) 

I go on margin and you cannot lose ( of course YOUR margin plus 10% for ebay and 3.3 percent for Paypal) 

Then there are those you just start at melt and see where it goes as long as you purchased right  :-) 

Long time no see my friend!

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