Best way to sell your PMs?

[jim4silver]

Best way to sell your PM's?

I am considering setting up an ebay account (I don't know if that is what you call it) to have a means to get the best return on some PM items I have accumulated over the years. I have some semi numismatic items that I see selling on ebay for multiples more than what my local guys will pay me. For example, I lucked into a dozen or so 1997 silver Maples in the plastic sheets recently (the lowest year mintage for Maples) for the "regular" price of new Maples, but I see on ebay they sell for 50 to 60 bucks per coin (or more). I have some other stuff like that I may sell and put the proceeds into bullion to increase my "stack", etc., such as older Kooks, Libertads, Pandas, etc.

I was wondering if anyone here sells on ebay or amazon.com and has any insight they would like to share. I don't want to mess with Craigslist, etc but want something where there is some protection for the seller but gives me national exposure to potential buyers. I don't have a problem with 10% fees or commissions since I will still be making some good $$$$. I am more worried about getting ripped off by the buyer. I plan on selling small lots per sale (less than 100 bucks) so hopefully will not get screwed too bad if a deal goes sour.

Thanks for any insight.


Jim

 

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[TheCoinKid]

If you haven't already done so, check out "Garage Sale Finds", subsection "All Things EBay", here on TNet. Other than the 10%, or so fee, the common complaint seems to be the bias towards the buyer in dispute resolution.

I've dabbled in EBay selling as an avenue to dispose of culls/duplicates from another obsession of mine, knife collecting. Didn't make any great amount of money, but did accomplish my goal of ridding myself of some items at reasonable sales prices. Never had a problem one, but my sales items were such that they appealed to a fairly narrow group of collectors; Ones you really wouldn't expect to have problems with.

As a buyer, I've had 600+ transactions and haven't been ripped off yet. Some were less than perfect, but none that were terribly bad.

TCK

 

[pronghorn]

. I am more worried about getting ripped off by the buyer.

Jim

On all my 16 or so purchases on ebay, I had to pay before the item was shipped, so I think the only way a buyer can rip you off is by claiming they didn't receive the item or that it is not as described. Delivery conformation should take care of the receiving problem. I would do a little research on other ebay sellers to see how they deal with buyers claiming items are not as described, disclaimer type stuff. I don't know, I can't get by their high fees, I believe you have to use paypal now (ebay owns paypal) and they charge another 3+ percent I heard.

 

[dirtdigginfool]

Ebay is a great way to get rid of stuff..in a hurry, that you have multiples of or just plain want to make go away. I treat it like a yard sale..put a reasonable price on it and make it disappear. DO check out the buyers feedback and be prepared to answer questions that you have the answers to in the auction..Their fees are closer to 15%, but then again..you will definitely sell it versus hanging onto it forever, or having some kook from Craigslist want to trade you a broken shotgun for it. Ebay is a great tool, I have bought/sold hundreds of items and have only occasionally been dissatisfied, and in that ONE case, Ebay administrators stepped in and made it right. Good luck!!...ddf

 

[Diggin-N-Dumps]

You could spend the 25 bucks and sell on here

 

[jim4silver]

Thanks all for the good advice!

 

[Diver_Down]

Sorry for the late response, Jim. But look into local/regional auction houses. In many instances, coins will go over and above what you might realize on eBay. Auctioneers have a sliding scale for consignment rates, but rarely advertise a special rate for coins/currency. You have to inquire about the rate. In every instance except for 1, I pay a fixed 10% consignment rate and the other is 12%. These auction houses are aware of eBay fees and realize that they lose out on consignments that are very easily sold online. When they can assemble a catalog with coins and currency, they end up with more attendees/bidders. It puts bodies in the gallery. The plus side besides higher realized prices is not dealing with shipping, negative feedback, etc. With the auction houses, I drop off the consignments and forget about it until I get my check.

 

[pronghorn]

I donated 4 Morgans to a local charity auction that sold for $105 each, granted it was for charity, but I have seen some people pay way above true value at our regular local community auctions.