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Ebay question...sorry!

12 posts in this topic

I'm selling a bunch of coins on Ebay for the first time, and I've had several bidders email me to ask for my reserve prices. Is this common? Should I give them the reserve prices or not? Is there any benefit or detriment to doing so?

 

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Don't do anything to dampen bidder interest/activity. If you reveal your reserve in advance, then that may shy off some bidders. Then, that may shy off some others who may have bid just because they get caught up in the moment.

 

If I were you, I'd open the bidding at a number that you're ok accepting if you only got one bid for that lot. And, I'd do it w/o BIN or reserve.

 

Good luck!

 

EVP

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Well, usually I don't have reserves in my auctions because I think it deters people from bidding (imagine their perspective bidding and waiting only to find out they didn't win even if they were the high bidder). I don't see any single answer to your problem, as it's really just a personal decision. Many bidders want to know the reserve in order to determine whether to bid at all (if you set a reserve insanely high, they won't waste their time) others want to avoid the instant jump to the reserve with their max bid (if someone bids $10 with a reserve at $100, the bid stays at $10, but if another bidder bids $110, the bid won't just increase one increment, say to $11, it will jump all the way to $100). Some people actually post what the reserve is in their descriptions, others hold tight to their reserve amounts. So it's really up to you, if you feel comfortable telling the reserve than do it. To me that's not really an ethical issue like ending an auction early because someone made you an offer (I think that's unfair to other bidders). The only thing that would be unethical in your case is to selectively disclose the reserve, so if you tell one bidder, tell any others that ask. Just my 2c, not sure if it helped.

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Don't be sorry, this is the forum for eBay questions. Now, had you asked this in the coin forum we'd have come after you...

 

Reserves suck and they are rarely met. They also cost a lot of money. Without a doubt I have had my best luck selling coins without a reserve and starting at 1c.

 

Provided they are not esoteric coins, your best bet is to sell them without a reserve and starting at 1c. Advertise your auctions here and fellow forum members will bid them up.

 

If you do use reserves and people ask (which they always do), feel free to tell them. Or give them an idea - it's less than $600. I *very* rarely use reserves, but when I have I'll usually tell anyone who wants to know. Sometimes I'll even put it in the auction. VERY rarely will I not say what the reserve is.

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The more valuable ($ wise) coins withstanding, my best luck or selling price has always come from low starting bids without reserves. I am afraid sometimes to do this as I don't want to lose on an aucton, but it usually works. Fair market value or more is usually realized. As far as disclosing your reserve...if it was me I would disclose it in the description for all to know. A reserve for me is a way to list an item I am sure will sell, without having to pay for the listing fees if it dosen't. Hope I have helped.

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I agree with the above comments. That is I've done better with no reserve. Then when I tried reserves they cost me less than they do now. Anyway when I did try it I was asked what my reserve was. I always told them what it was. I didn't have a buy it now so if they wanted it they could bid the reserve and it would be like a buy in now in that they would have the winning bid.

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I've bought lots of stuff on ebay and am now taking a turn at selling, mostly to pay off my ridiculous credit card bill I incurred from my new coin "hobby" (some call it a "problem"). I only have 2 listed with reserves, and I think I'd be fine disclosing what they are. The other coins I listed at a fair price, usually just what the grading cost me as a start that way if there is only one bid I'm not hurt too bad.

 

I have a lot of silver eaglesand stuff listed now, I submitted rolls of inherited coins to NGC and am selling off the lower grade coins (68)- I also have a complete proof set 1999-2003 and quarter proof set listed, as well as a whole bunch of morgans (that I bought myself, my family would freak if I sold off the inherited ones), some key dates, graded by ANACS.

 

A lot of the morgans have "problems" and stem from my earlier months of ignorance, but they're still cool.

 

Please take a look and see if you're interested...also, I'd like to know if you feel I need to add or detract from the text of the add to make it more "honest." confused.gif If this link doesnt work, one of the item numbers is 3907345548 smile.gif

EBAY Listings

 

Thanks!

-Jill

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I do better starting at zero and setting a Reserve than I do starting at a higher price (usually near the what your would set as a Reserve). I get more activity that way....

 

jom

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I'm always a little put off by the reserve "fee." If the item doesnt sell you lose your fee, but if no one bids you only use your listing fee (and you can relist and get a refund with a lower start price). But I also guess I'm selling really low level stuff crazy.gif

 

I'm not sure of the legality of this (watch me get kicked off the boards in my first week) but it seems that a lot of the people on this board sell on ebay. Perhaps if there was a board with updated REALISTIC (not like the PCGS price guide) selling prices (start, reserve, goal) we might be able to get a better idea of value... acclaim.gif

 

Jill

Current Ebay Listings

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I'm "put off" by the reserve fee too but it is necessary. You have to consider ALL costs when you buy or sell.

 

I'm not sure of the kinds of coins you sell but if you want realistic prices you can use a number of sources:

 

Gray Sheet

Blue Sheet

 

My favorite is the Heritage Auction Archives. Great info there....

 

Now whether these help you in the coins you sell I don't know. But when I BUY the sources above help me quite a bit.

 

jom

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I've been selling on Ebay since 1999 and most of my auctions have a reserve. I start at a low price, research the value of the coin and put a reasonable reserve on the coin. At most 3-5 coins in all those years didn't meet reserve. The last one that didn't I sold on the PCGS board for $715 and my reserve on Ebay was $700.

 

If you sell nice coins, describe them properly and offer them at a reasonable reserve they sell. In fact I am surprised how many times they sell way over my reserve. It's usually all about the coin.

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