Is there an alternative to eBay?

[Lifetime Noob]

Is there an alternative to eBay? I am really tired of jumping through all of the 'hoops' and paying all of the fees required by eBay just to unload some coins!

 

Is there a similar means or place to sell coins without having to go through eBay?

 

Thank you in advance for your advice!

[kryptonitecomics]

B/S/T sections of each coin forum? Personally I vote no as you just can't get the same exposure anywhere else....

[coinman_23885]

I agree that the forums or useful; however, I would suggest considering Great Collections. I have never personally sold through them (I have purchased though), and the prices realized are fairly representative of the eBay going rates from my experience. They only charge a sellers fee of 5% if the item sells less than $1000 (0% if above) and charge a listing fee of $3-5 bucks or so.

[lcoopie]

have the prices realized been reasonable from Great Collections?

[coinman_23885]

I think so, but with the current economy, I would highly recommend that you first look up and follow a few items in the series/date range of the coin that you are looking to sell. You can always add a reserve, and they will relist the item 5 times, I think, without any additional charge.

[lcoopie]

thanks

[rons]

I sold my proof Franklins in September. The local dealer offered me $900 but I got $2800 from Great Collections. They were easy to work with and had a quick payment to boot

[e1cnr]

it depends where you live and the quality/value of your coins

 

 

local/regional coin shows usually have dealers that will buy decent stuff

 

top notch stuff will always do well at auction

 

 

local coin stores may or may not be good outlets

 

 

 

eBay has high cost, but if you get 50% more, it probably worth 10% to eBay/PAYPAL

[mkman123]

Bst of both forums is great.

[brg5658]

I'm torn here. I have taken some certified coins to "in person" coin shows, and the dealers look at me like I am crazy. They usually offer ridiculously low prices, which I understand because they just think of it as another coin they add to their case and must now carry around. As a buyer/collector at shows, I almost only ever purchase raw coins. I can examine the coins in person and be fairly certain I am getting coins which have not been messed with (cleaned, etc). When I say "shows" I am NOT talking about large national coin shows though. I am talking about the monthly VFW coin show, with all local-ish dealers.

 

As others have mentioned, it is almost impossible to get better exposure than you will get on eBay. And, for the most part, I have found that eBay buyers are heavily collectors. Thus, you will get a smattering of dealers bidding but also collectors, and the sale price is usually quite decent. YES, eBay can be frustrating, but in the scheme of things the fees are a pretty small price to pay for the worldwide exposure to millions and millions of people. It is simply true that Teletrade, Great Collections, the coin forum BSTs, Heritage, Stacks, etc. are "niche" coin sale arenas for valuable/rarer coins. These non-eBay venues will likely cover your bases for the people who are likely to want to purchase an expensive or very particular coin.

 

BUT, if your coin is a common, inexpensive, readily available coin then when you use one of these venues (e.g., Teletrade), the only people making money are the auction sites. I have seen coins go on Teletrade for $6, with a BP and shipping of $15+. The point being in that case you as a seller would get $6, but Teletrade gets the "handling" fees. I have NO idea why someone would send coins like this to Teletrade, but they do

 

I really really want to buy something on GreatCollections.com, but the selection is still pretty sparse. I look regularly, and I add things to my watch lists, but the sale prices (or even starting prices) are higher than what I could get a coin for on eBay.

 

In summary, I think that, despite the general dislike of eBay for sellers, it really still is the best place to get the best exposure to collectors for commonly collected coins. I buy almost all of my coins on eBay. A few particular purchases are from Heritage or Teletrade, but I just don't see what I want on those sites (mostly because as compared to eBay, the number of sheer coins offered on those sites is so small).

 

OK, this is a long enough reply...but my recommendation would be to just suck it up and continue to sell on eBay unless you have something really valuable (which I would personally delegate to a proper auction house).

 

-Brandon

[James_OldeTowne]

it is almost impossible to get better exposure than you will get on eBay

That may or may not be true, but you also do not need that much "exposure". A small or medium auction with the right audience can very easily outpace results from eBay, and usually does.

 

The "exposure" on eBay is vastly overrated in my opinion. What good is it for 5,000,000 people to possibly see my offerings on eBay if only nine of them are coin collectors? The biggest benefit to selling there is the (relatively) quick turnaround. One can expect to be funded within days, whereas it can be five to fifteen weeks before an auction company makes good.

 

Kudos to anyone who can maintain profitability after eBay pockets their exorbitant percentage.

[brg5658]

it is almost impossible to get better exposure than you will get on eBay

That may or may not be true, but you also do not need that much "exposure". A small or medium auction with the right audience can very easily outpace results from eBay, and usually does.

 

The "exposure" on eBay is vastly overrated in my opinion. What good is it for 5,000,000 people to possibly see my offerings on eBay if only nine of them are coin collectors? The biggest benefit to selling there is the (relatively) quick turnaround. One can expect to be funded within days, whereas it can be five to fifteen weeks before an auction company makes good.

 

Kudos to anyone who can maintain profitability after eBay pockets their exorbitant percentage.

 

With all due respect James, my comment was completely correct in context. When you take it out of the context of the REST of my comments, what you say is true. But, I also know you're one of the many "angry anti-eBay" people based on many of your previous rant-ish comments over the months READ my entire post, and don't take pieces of sentences out of context of the WHOLE points I made.

 

As for your comment about "exorbitant" percentages, they are comparable to those of auction houses, if not less. As primarily a collector, I usually only have a few coins I would like to move. It is not worth my time and hassle to have to wait for an auction, especially for a common coin, and deal with sending the coin to a "middle man". I can just post in on eBay, sell it within a week, and move on with my life. IF your main involvement in the hobby is as a seller and you move a LOT of coins, then maybe the auction house is the best route for you.

 

-Brandon

[brg5658]

Kudos to anyone who can maintain profitability after eBay pockets their exorbitant percentage.

 

I have purchased many coins from Greg (gmarguli) who sells a lot of world coins on eBay. He runs true auctions (not BIN) and the selection of coins from his weekly auctions is usually better than some of even the largest Heritage auctions. I would love to hear Greg's input here, as I believe he has a very successful eBay selling business.

 

-Brandon

[James_OldeTowne]

I have purchased many coins from Greg (gmarguli) who sells a lot of world coins on eBay. He runs true auctions (not BIN) and the selection of coins from his weekly auctions is usually better than some of even the largest Heritage auctions. I would love to hear Greg's input here, as I believe he has a very successful eBay selling business.

.... and therefore, I would give kudos to Greg !!

 

Brandon, I apologize if I did take something out of context, but I basically felt like you were stating that eBay's exposure is somehow of additional benefit not available at other auction venues. With that, I don't agree, as mentioned above.

 

As to the issue of selling common coins ($1, $2, $5 value, etc.), even there, I am not convinced about how great eBay is. Sure, you might be able to sell a $5 retail coin for $4, whereas a dealer would pay you only $3, but consider the time spent on your eBay sale! It's another reason I bailed.... getting paid the equivalent of $1.50 per hour wasn't something I could accept.

 

You are right... I am an admitted anti-eBay basher... but didn't used to be. Back when margins were fair, and eBay took out about 8%, I was fully supportive of the venue. But when it got to be over 15% margin loss due to their take, I switched sides.

[Hard Times]

I have purchased many coins from Greg (gmarguli) who sells a lot of world coins on eBay. He runs true auctions (not BIN) and the selection of coins from his weekly auctions is usually better than some of even the largest Heritage auctions. I would love to hear Greg's input here, as I believe he has a very successful eBay selling business.

.... and therefore, I would give kudos to Greg !!

 

Brandon, I apologize if I did take something out of context, but I basically felt like you were stating that eBay's exposure is somehow of additional benefit not available at other auction venues. With that, I don't agree, as mentioned above.

 

As to the issue of selling common coins ($1, $2, $5 value, etc.), even there, I am not convinced about how great eBay is. Sure, you might be able to sell a $5 retail coin for $4, whereas a dealer would pay you only $3, but consider the time spent on your eBay sale! It's another reason I bailed.... getting paid the equivalent of $1.50 per hour wasn't something I could accept.

 

You are right... I am an admitted anti-eBay basher... but didn't used to be. Back when margins were fair, and eBay took out about 8%, I was fully supportive of the venue. But when it got to be over 15% margin loss due to their take, I switched sides.

 

James, I have to disagree with you. Last year this time, I decided I wanted to sell some coins. This was after taking some nice NGC and PCGS coins to major shows and getting offers that were not what I was hoping for. So I decided to open an ebay store. In the last year, I sold over 40 coins via mostly BIN/Best offer, and after paying ebay/PP fees, made a 10% profit, and easily 20 to 30% more than what I could sell the coins to dealers at shows, or putting them in an auction for a major auction house. I believe that I did have some of the best images on ebay which I think helped as folks saw what they were getting. I also had an unconditional return policy and believed in the customer first. So I sold everything I wanted to in that year with the exception of 2 coins. These two I sold at the Houston Money Show today for wholesale bid prices, probably less than what I could have made at ebay after fees. But I am closing down the ebay store at the end of the month just a few leftover going up as no reserve auction soon, then finished. I did what I went to do and amazingly, ebay went fine and much better than I could have imagined. But I am collector and not a dealer and I don't see ebay as improving in the future. You get fees of 7 to 11% for ebay/PP, and they are finding even more ways to fee you to death. With the tight margins one needs to sell quality coins on ebay, it is not going to be more viable with more fees to come. But the exposure was amazing and helped me sell successfully no question about it. I just wish a viable alternative would arise that could compete with exposure but with lower fees so my turn around could increase with even more competitive prices.....

 

Best, HT

 

 

[Lifetime Noob]

I completely agree! The fees can be quite a burden! During the most recent spike in silver, when it was about $42 or $43 an ounce, we had eBay selling fees in excess of $2,400 in one month!

 

Ironically, we had also purchased more than $25,000 in the same quarter, which amounts to the maximum $500.00 in earned 'eBay Bucks.' Well, guess what.... eBay never gave us our $500 in eBay Bucks.

 

I will try the B/S/T area of this forum, though I am not exactly sure where it is or of what you all are speaking... Either way, thank you all for the in-put and responses! (thumbs u

[123cents]

Certain type coins will make you more money than selling on Ebay if you consign them to the right dealer.

[Lifetime Noob]

I have decided to take your advice and I have listed a couple of rolls in the NGC Money Market. I guess we will just have to wait and see if anything happens. Thanks Again!

[halfpint]

I completely agree! The fees can be quite a burden! During the most recent spike in silver, when it was about $42 or $43 an ounce, we had eBay selling fees in excess of $2,400 in one month!

 

Ironically, we had also purchased more than $25,000 in the same quarter, which amounts to the maximum $500.00 in earned 'eBay Bucks.' Well, guess what.... eBay never gave us our $500 in eBay Bucks.

 

I will try the B/S/T area of this forum, though I am not exactly sure where it is or of what you all are speaking... Either way, thank you all for the in-put and responses! (thumbs u

 

...here it be deepstrike. and here is another one from ATS.

[Lifetime Noob]

Thank U, I really appreciate the links. I had already found the NGS pages and have posted 2 items there. I will now check out 'Collector's Univ.' Stay Cool

[ultra-crepidarian]

I completely agree! The fees can be quite a burden! During the most recent spike in silver, when it was about $42 or $43 an ounce, we had eBay selling fees in excess of $2,400 in one month!

 

Ironically, we had also purchased more than $25,000 in the same quarter, which amounts to the maximum $500.00 in earned 'eBay Bucks.' Well, guess what.... eBay never gave us our $500 in eBay Bucks.

 

I will try the B/S/T area of this forum, though I am not exactly sure where it is or of what you all are speaking... Either way, thank you all for the in-put and responses! (thumbs u

 

This year, ebay stopped paying referral fees (as much as 3% cash back to buyers) to sites such as Fat Wallet, Ebates and Mr Rewards. In addition, ebay has stopped paying e-bucks (2% cash back to buyers) on bullion purchases. The money they saved is what they are using to lower your listing and sales fees … no wait, they haven’t lowered your fees … so what happened to all the savings? … Oh yea, it went directly to ebay’s coffers … No soup for you!

[ultra-crepidarian]

... I am an admitted anti-eBay basher...

 

Actually, James you are either anti-ebay, or an ebay basher, or pro-ebay bashing … (probably all three ).

 

In any case, I would call your position totally rational given ebay’s business practices. Everything goes fine on ebay until it doesn’t. The vitriolic ebay bashing that is so common among small sellers is born from experience.

[Lifetime Noob]

I know about the rule changes, but we earned the $500 in eBay Bucks BEFORE they changed the policy.....

[Lifetime Noob]

OK, I listed a few items in the 'Money Marketplace' to see what happens... if anything.

 

I have sold 1 item, but overall, response has not been what I thought / expected. A lot of views, but only one buyer and NO ONE is even willing to make an offer on the other three items: One of which is a BU Roll of 1943-D WWII Nickels...

 

I did make a small purchase from another person though...

[Kboy24]

That's a great question my friend!!!