Author Topic: Sellers announce ebay cheap auctions in advance for stable & predictable pricing  (Read 1375 times)

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Offline badon

If dealers will give CCF members some advance warning about what they plans to sell in cheap auctions each week, we will have the time we need to shuffle our purchasing priorities and accumulate some bidding money. If sellers start routinely announcing their auction plans at this forum a week or more in advance, I think it would be very good for the market.

Instead of the volatility typical of thinly traded, illiquid coins, we can improve price predictability and stability because people will have a larger window of time with more choices in how they spend their money. With no advance notice, auction prices are probably dictated in part by paydays, as opposed to true market values. Most people in the West get paid once every 2 weeks, typically on the 1st and 15th of each month. So, if an auction ends close to a payday, auction prices are more predictable than if the auction ends far from a payday.

People are expected to pay promptly after winning an auction. Within 1 to 3 days is customary, and anything much longer than that should be with the permission of the seller. If sellers are communicating their auction plans, both with each other, and with potential buyers, they can jockey for position in the calendar space to avoid cramming too many auctions in one place. For example, if seller A is planning an auction for the same coins as seller B, announcing their intentions gives them the opportunity to adjust their schedule so they aren't competing with each other during the same payday time-frame.

A common complaint of buyers is that there are too many good coins all at once. If those buyers fear the possibility of winning too many auctions, they end up bidding LESS on a ALL of them. Those same buyers will be willing to bid MORE only if the auctions are spaced out far enough away from each other that they can bid strongly on both of them - and then pay for them with income from 2 different paydays, instead of trying to pay for both of them with income from only 1 payday.

Communication is the key. Sellers need to announce their auction plans in advance. We can experiment with using the CCF calendar to help coordinate ebay auctions. Jeru and myself can help put items on the event calendar. After we do some experiments with this, I can add features to the forum to better facilitate auction schedule coordination.

I'm hoping the end result will be stable, predictable pricing. Predictable pricing is good for everyone, but most of all it is reassuring to buyers who want to know they are both paying a fair price, and they can sell for a fair price too.

When is the best time for a cheap auction to end? On paydays! When is the other best time? Weekends! I just noticed something about the month of October. Both the 1st of the month and the 15th of the month (paydays) fall on weekends! I think October is going to be a lot of fun for everyone in this market.

Offline badon