eBay and cashing in on the cache

[MiddenMonster]

There is a specific reason for my asking this. A few days ago I found an "art cache". Some neighbors were moving and they left behind 5 pieces of framed art. Of the five, four were pretty much run of the mill reproductions, but the frames were decent so I'm not complaining. The fifth piece however, was a limited edition lithograph (very nicely framed) that was signed and numbered by the artist. For those interested, it was Tucker Smith's "Return of Summer", 210/1000. With that number it's obviously not an artist's proof, but I did some investigating and found out that the print can pull in about $800 at auction. An image, but not of my copy can be viewed here:

http://www.snowgoosegallery.com/artists_images/smith_t/returnofsummer2.jpg

While I'm comfortable letting it hang on my wall, I would also be very comfortable selling it if the price is close to the $800 auction value. Friends suggested that I try eBay, which I have never used before with one exception: I used a relative's account to put in a bid for Beekrock's "Mystery Suitcase" before it was pulled. So now I turn to the experts here. Is eBay a good route to go if one wants to liquidate an art cache? I thought it was free to list items, and started the registration process, but it looks like there are all kinds of fees that I wasn't aware of--insertion fees, sliding final value fee table, reserve fees, etc. I'm very privacy and security minded, and don't like to give out account numbers and personal information when I don't have to. Do people here agree that eBay is the best way to go, despite the fees? And if so, what's the best way to set up an account and method to pay the fees? What are the ups and downs of using eBay as a seller? If eBay isn't the best way to sell this, what is? I've thought of consignment at a local gallery, but galleries can take up to 30% when it sells.

This is easily the most valuable cache I have found. I just wish it was buried or hidden behind a wall so the story would have been more exciting.

Middenmonster

 

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[BADDOG]

I sell a lot on eBay. It is a good outlet for hitting a lot of people that are specifically interested in what you have to sell. As far as the fees, no matter where you sell something you will have fees, whether private auction , classifieds, storefront, etc. I think eBay's fees are pretty reasonable. I also accept Paypal, there goes some more of your money. The way I would look at it is, how much did it cost you... If it sells for $800.00 and you have to pay even $30.00 (which I don't think it would be) that's not a bad deal. As for giving out your personal information, you do that everyday anyway. Your bank account number and routing number are on every check you write, you give your credit card number everytime you use that. Best advice I can give you when entering your personal information look at the URL and make sure it says "https://..... the "s" means it is a secure site and your information will be encrypted. NEVER click on a link that gets e-mailed to you telling you your account will be closed if you don't respond or to fill out a survey and they will give you $20.00...now to credit the money we just need your account number, last 4 of social, mothers maiden name, etc
There are also places that will sell the item for you such as Auction Drop (any UPS store), however their charge will be close to 30 percent. It is very easy to sell on eBay, you can even set a reserve (will cost a little extra) to assure you get what you think it's worth.

Good Luck And HH

BADDOG

 

[MiddenMonster]

I sell a lot on eBay. It is a good outlet for hitting a lot of people that are specifically interested in what you have to sell. As far as the fees, no matter where you sell something you will have fees, whether private auction , classifieds, storefront, etc. I think eBay's fees are pretty reasonable. I also accept Paypal, there goes some more of your money. The way I would look at it is, how much did it cost you... If it sells for $800.00 and you have to pay even $30.00 (which I don't think it would be) that's not a bad deal.

I agree that in the broad picture the eBay fees are probably on the low end of the spectrum. In looking at their site there would be $4.80 for the insertion fee, and I had heard that listing an item was free, or at least used to be. Was this the case? I've also heard horror stories about the problems people had on both the buying and selling side of the coin. What is your experience with eBay in terms of problems? What are the biggest problems I should look out for if I go the eBay route?

As for giving out your personal information, you do that everyday anyway. Your bank account number and routing number are on every check you write, you give your credit card number everytime you use that.

I get around that by paying cash for just about everything. I write less than 20 checks a year, and use my credit card less than 5 times a year, if that. I had to get a debit card to pay for my monthly website costs, even though I offered to pay a year in advance. In regards to eBay, I don't like their privacy policy because in accepting their terms you agree to let them send you targeted marketing and promotional information. If I decide to sell the print I will probably end up using eBay, but I don't like the song and dance they seem to make you do. Since you sell a lot on eBay, how many times have you listed an item and lost the insertiion fee because it didn't sell? I guess I'm just a cheapskate because I don't like the idea of paying for something that didn't sell, but it is cheaper than a classified ad in the paper that doesn't sell.

 

[gldhntr]

i tried several limited edition signed/numbered prints by several artists, and also several original oils and acrylics on e-bay....averaged getting 1/4 to 1/2 of actual value, only after listing several times...most of the originals were never looked at but 1-2 times..........for instance a bob timberlake artist proof from 1970s framed/matted and in perfect condition went for a little over 425.00, only after listing it several times, and leaving in my store several months,,,,valued at 1200.00 plus being a proof.....i got several offers of 150.00 to 300.00 on it.........personally i would look at a different route........gldhntr

 

[BADDOG]

Between mine and my wifes accounts we have probably sold around 600 items. I normally go out to garage sales on the weekend and pick up stuff for under $10, that way if I make a bad buy I'm only out a few dollars. I sometimes get lucky and buy something and make a very good profit (ie.paid $15 sold $1100, paid $20 sold $640). Just recently I picked up a spa heater for $10 and sold it for $240 and the same week I got a rainbow vacuum for $2 and sold it for $170. They don't all go like that but I normally start them out at what I paid for them and see where it goes.

In looking at their site there would be $4.80 for the insertion fee, and I had heard that listing an item was free, or at least used to be

As for the insertion fee you used to be able to get that refunded if your item didn't sell.

From your experience is there a best way to 'sell'

a lot of large dollar items are put in the featured items which list them ahead of the normal listing and also in the normal listing. Of coarse this is extra. I never use it because when I go looking for something I skip the featured items as they usually aren't your best deals. I also buy a lot of stuff on eBay, everything from razor blades to cologne to ink for my printer as well as some large dollar items.

What is your experience with eBay in terms of problems?

No different than dealing with the general public. I have had very few problems, horror stories, maybe. I once purchased a motherboard and CPU at a great price (whats the old saying, if it sounds to good) I paid quickly and waited, nothing. Turns out this guy did this to a lot of other people. I paid through PayPal with a credit card, so I just went to the credit card co and said I never received it and they refunded my money.

If your buying READ the entire auction before you bid.

If your selling be as honest as possible and list all details concerning your auction. Pictures, lots of clear pictures. Think about it if you were buying something for hundreds of dollars wouldn't you want to see what it looked like?

I love it. My little hobby allows me to get some of the toys I might not have been able to get. By the way my first detector came from eBay it was flawless. Second one I put an ad in the classifieds, "looking for a great detector cheap" I got a XLT with pinpointer, headphone, hard cases, etc for $400.00.

I feel like I'm trying to sell you guys on eBay. For me its been worthwile and a lot of fun.

Any other questions feel free.

Good Luck and HH

BADDOG

 

[ZumbroKid]

If you dig it out of the ground it will sell. Sometimes the frame is worth more.

 

[slotman]

Hi! you might try craigslist.org craigs list is in most major citys and you can list an item for free even with pictures, unlike an ebay auction where the bidder is bound to purchase the item they bid on, craigs list is more like the classified section of a paper online with pics, just an idea...ebay works good too, the wife and I have been selling for years although the ebays fees are fast approaching not being worth it! Slotman

 

[gldhntr]

thanks slotman,,,,,,,,,,,,gldhntr

 

[MiddenMonster]

Hi! you might try craigslist.org craigs list is in most major citys and you can list an item for free even with pictures, unlike an ebay auction where the bidder is bound to purchase the item they bid on, craigs list is more like the classified section of a paper online with pics, just an idea...ebay works good too, the wife and I have been selling for years although the ebays fees are fast approaching not being worth it!

Thanks. I didn't think of craigslist for this, even though I used it (unsuccessfully) to advertise a vehicle a few months ago. Yesterday a friend told me that Google was going to be getting into the auction business and competing with eBay. So maybe the competition will force eBay to do something about their fee schedule, especially if Google is free. On the downside, Google is close to being spyware when it comes to collecting and retaining the personal information it collects. That's one reason I set up Netscape so that cookies are stored only in virtual memory, and never saved when the browser is closed.

 

[Siegfried Schlagrule]

for a short time ebay was free if you started the auction at less than a dollar. On any given day ebay scores 160 million hits. The next largest is yahoo with a couple hundred thousand. This new google list will have at most a thousand or so people going there per day. The more traffic to the site the better you will do. If you want to list your item for 35 cents plus the sales commision list it for less than $10. If you put it with a high start you will pay a high listing fee and also keep many people from getting attached to your item and wanting it. I will go over 1000 on positive feed backs with no negatives in the next week or so. I think my current rating is 985. For art and high dollar items you need to post pictures which will add to your costs. I don't post any pictures and rarely kowingly sell expensive items. exanimo, ss

 

[Siegfried Schlagrule]

CZ, And I was treating you with kid gloves on the off-chance that you might be a veteran. Oh well. For most people I would answer their questions via a private message but I sense a wide application here. Many folks may benefit from my answer so will do it publicly. You ask specifically about objet d'art. I will answer about art and all rarities. The quickest way to sell for top dollar and highest prices is to go through the major auction houses such as Sotheby's and Christie's. For truly rare items they will give you an advance payment against the expected selling price. They also buy for their own accounts. The downside is that you will be out the amount of their commission. The upside is that they will attract the high dollar buyers that we all dream of doing business with. Another benefit is that they have the experience to spot fakes and the reputation that buyers have faith in their judgement. Typically they will realize more than 100% higher bids from their clients than what you can obtain. In coins the top buyers are Bowers & Merena and Superior coin Gallery. Those folks who you see selling the great rarities are also selling other key and semi-key coins. Wouldn't it be nice to have the loser on the 1913 V-nickel start bidding on your coins as a consolation prize? All that money and nothing to spend it on but your stuff. To obtain the services of those folks just give them a call and follow their instructions on photos etc. Even if they are not interested they will frequently give you a ballpark appraisal for free. I hope this helps. As to my intelligence. I was killed twice in 2001 by the hospital and fried with those electric paddles. I'm nowhere near as bright now as I used to be. exanimo, ss

 

[MiddenMonster]

I will answer about art and all rarities. The quickest way to sell for top dollar and highest prices is to go through the major auction houses such as Sotheby's and Christie's. For truly rare items they will give you an advance payment against the expected selling price. They also buy for their own accounts. The downside is that you will be out the amount of their commission. The upside is that they will attract the high dollar buyers that we all dream of doing business with. Another benefit is that they have the experience to spot fakes and the reputation that buyers have faith in their judgement. Typically they will realize more than 100% higher bids from their clients than what you can obtain. In coins the top buyers are Bowers & Merena and Superior coin Gallery. Those folks who you see selling the great rarities are also selling other key and semi-key coins. Wouldn't it be nice to have the loser on the 1913 V-nickel start bidding on your coins as a consolation prize?

Sounds great. It wouldn't bother me a bit if my Tucker Smith LE was bought as a consolation prize by someone who was outbid on a Jackson Pollock. But I would imagine that a Southeby's and Christies has a threshold for items they auction. I doubt they would consider handling the lithograph I have, or anything I would be likely to obtain.

 

[Siegfried Schlagrule]

CZ, When I got back to work and could quit living on $34 a week disability pay I began playing the lottery again. I noticed that two weeks in a row my numbers from the previous draw were coming in. I bet every combination of those numbers and lost on every ticket. . On a positive note gold is reaching all time high territory this year so my next big hit will more than break me even. As a general rule dowsing does not work for future events. The further out you go the worse the results. Sometimes you can consistently dowse what the weather will be the next day. exanimo, ss