Author Topic: 12 things I learned from losing money selling coins and precious metals on ebay  (Read 1030 times)

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Offline numistacker

Re: MCC LIST #183, move from LBC and continuation here at the CC forum:
I had a clear out and decided to list some ebay cheap auctions this week on some duplicates in my collection.

The starting price was .99c on ebay USA and I am happy to ship anywhere in the world from USA or UK.

2016 Year of the Monkey FAN shaped Lunar coin NGC Graded PF69 Box COA Silver
2016 Year of the Monkey FAN shaped Lunar coin NGC Graded PF69 Box COA Silver

2015-Lunar-Series-Year-Sheep-Goat-China-NGC-PF69-S10Y-Silver-1oz-Proof
2015 Lunar Series Year Sheep / Goat China NGC PF69 S10Y Silver 1oz Proof

2011-Lunar-Series-Year-Rabbit-NGC-PF70-S10Y-Silver-1oz-Proof
2011 Lunar Series Year Rabbit NGC PF70 S10Y Silver 1oz Proof

China-2016-Panda-1g-10-Yuan-Gold-Coins-One-Sheet-10-pcs
China 2016 Panda 1g 10 Yuan Gold Coins One Sheet (10 pcs)

Nanjing-Mint-2016-Panda-Copper-China-Coin-Non-Fiat Coin-NGC-PF69-Early-Releases-Box-COA
Nanjing Mint 2016 Panda Copper China Coin Non-Fiat Coin NGC PF69 Early Releases Box COA

2008 Lunar Series Year Mouse Rat China NGC MS69 S10Y Silver 1oz Low Mintage Rare
2008 Lunar Series Year Mouse Rat China NGC MS69 S10Y Silver 1oz Low Mintage Rare

2014-China-Non-Fiat Coin-Coin-18-Lohan-Arhat-Riding-a-deer-Brass-NGC-PF69-Matte
2014 China Non-Fiat Coin Coin 18 Lohan - Arhat Riding a deer Brass NGC PF69 Matte

2016 Nanjing Auspicious Coin Non-Fiat Coin TRIMET PF69 NGC Mandarin Duck and Swan China
2016 Nanjing Auspicious Coin Non-Fiat Coin TRIMET PF69 NGC Mandarin Duck and Swan China

2013 Year of the Snake Silver Proof Lunar China Coin with Box and COA
2013 Year of the Snake Silver Proof Lunar China Coin with Box and COA

Re: MCC LIST #183, move from LBC and continuation here at the CC forum:
Better buy up the tangible assets that ^^^ numistacker is selling, because this is coming to town near you one day.  Never in history has every fiat currency in the world been backed by nothing but the good will and faith of the govt...once confidence is lost, game over.  when?  I don't know.  And YOU don't know.  And THEY don't know (the Hodges of the world - they talk out of their arse).  But better to be a few years early than 10 minutes late. 

http://www.zerohedge.com/news/2016-10-31/i-feel-pablo-escobar-venezuelans-resort-weighing-cash-hyperinflation-builds

Re: MCC LIST #183, move from LBC and continuation here at the CC forum:
[...] I just had a conversation in Freenode ##economics about all the stuff myself and everyone else here is buying. numistacker complained about the low prices his cheap auctions got on ebay, and then he lists more? Why? I'll tell you, he's getting good deals himself, and now he has to pay for them. This is the calm before the storm. It has happened before, and last time it happened, we saw 400% gains compounded every 6 months on top coins. That's why sellers on ebay right now don't care if they lose money. They need cash. They need to buy as much as they can get, as soon as possible.

[...]

I am still a big believer in precious metals (PM) generally for the future and the battle at present is with short term factors like the devaluation of sterling. At present the $ is very overvalued and this is not likely to subside short term but medium term may well be a different story. The Brexit effect on the UK £ makes it risky short term to invest in bullion though Numismatic items may be good value so shield sovereigns and some pandas can represent good value as can some pre-1933.

I have not dented my core collection really or sold gold except at the periphery at this point. I have been looking at items that i may have bought too many of or items that I no longer wish to chase. Most of my Non-Fiat Coins have been kept and I have sold a couple of the Nanjing Pandas at 69 while keeping the 70's. I have 2 more of mine in grading and I am hoping that these will both be 70's ))..

Low start auctions?

Why?

Yes as Badon says I was not happy with the outcome of a couple of non-fiat coins I sold recently but I do believe in low start auctions. Why you may ask quite reasonably?

1. They are fun for the seller and buyer
2. They express a real price for many items (high start auctions not as well)
3. They give the market confidence and build transparent price history
4. They show the sponsors/distributors real pricing data and show them if they have priced too expensively or too cheaply for some items. This is great information for us all as we NEED to know that it is possible to get cost + 15% on any item we buy just to break even (for eBAY sales at least)
5. By logging watchers on .99c start sales you can gauge the interest in specific items like no other way.

The downside is also there unfortunately too.

1. Some items are not known and so have few watchers
2. There is a risk of something selling far too cheaply or at a loss

What have I learned?

I have learned that low mintage is VERY important when it comes to resale
I have learned that items where news has been extensively shared online have a much more liquid market
I have learned that expensive PM items are very safe generally to sell at low start as there is always large interest
I have learned rare items are better sold low start as with little price history setting a Buy-It-Now price can be problematic.
I have learned that where there is lots of price history and many comparative sales a high price auction can be less heart damaging, and setting about 15% less than the average selling price leaves just enough room for multiple buyers to show an interest.



Edit by badon: medal = non-fiat coin.
Edit by badon: Added quotes and quote links after splitting to new topic.
Edit by badon: A several minor edits and typo fixes to aid machine translations.
« Last Edit: 2016 Nov 02, 02:54:01 PM by badon »
 
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Offline badon

 

Offline badon

EXCELLENT post numistacker. I spammed it all over the forum so as many people as possible can find it. GREAT JOB! This post is SO important, because almost everyone talks mostly about buying, and there is very little information about selling. This information is a fantastic bite-sized list of tips and important things to know when the time comes to sell. Knowing these things in advance can help people prioritize purchases, and decide what exactly to buy or not buy, depending on their future intentions for selling those purchases.
 
The following users thanked this post: numistacker

Offline numistacker

It is amazing how different the number of watchers is between coins. Watchers signify the volume of buyers, the level of interest, the quality of your title, the attractiveness of your price and the extent to which others believe they can make money in the future on what you are selling in the present.

Offline badon

A lot of dealers will put Buy-It-Now listings on ebay solely to count watchers. I pay attention to watcher counts when I'm cruising ebay to get an impression of what the market is doing, so if one person lists stuff to count watchers, everyone can count watchers too. ebay has a newer feature that will tell you how many people viewed or watched an item in the previous 24 hours, so you can quickly see if some market sector is suddenly getting a surge of interesting. It's very helpful to have this information, even if I have no intention of buying anything while I'll looking at stuff on e bay.
 

Offline perfulator

A lot of dealers will put Buy-It-Now listings on ebay solely to count watchers. I pay attention to watcher counts when I'm cruising ebay to get an impression of what the market is doing, so if one person lists stuff to count watchers, everyone can count watchers too. ebay has a newer feature that will tell you how many people viewed or watched an item in the previous 24 hours, so you can quickly see if some market sector is suddenly getting a surge of interesting. It's very helpful to have this information, even if I have no intention of buying anything while I'll looking at stuff on e bay.

Not sure if it has been mentioned before, but this gives you a regional overview of top wathced listings:
http://www.watchcount.com/#serp