EBAY SELLING

[pennynoob]

I have been buying on ebay for a long time and i recently read on another forum about a guy who would buy bulk coins or single coins under red book and then put them right back up on ebay and make profit. I am trying to decide whether to do this. Last night a 1919 Walking Liberty half dollar was 16$ with shipping and i thought about getting it but didnt. Anyone share their experiences doing this or just suggest doing it or not

 

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[Iamrussell]

Youve gotta find great deals to be able to sale on ebay imo because of their fees- im not saying you cant do it but the fees plus shipping charges(unless you charge for shipping) have always detered me from selling on ebay

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just keep stacking, just keep stacking, stacking stacking stacking

 

[pennynoob]

Do you do buying and selling on eBay right now?

 

[Iron Patch]

Even under Redbook price can only guarantee you make a profit in one way, and that's that you're listing your coins at fixed prices. And the problem with that is you're almost certainly going to be putting way more into it than you'll see sales, so that's something to think about. Going the other route running auctions the main problem is once you add in the fee, it will often take you close to break even. For myself I use a combination of the two, but I have a lot of experience and know which are safe to auction, and what ones I need to set the price on and wait. There's actually quite a bit to it how I do things, but even after 13 straight years ebay changes so much, even from week to week, a strategy has to be a simple one that is proven and usually works.... and that is just another way of saying you need to find the right balance.

Nothing even comes close to experience so it's best to just stick your nose in and see how it goes, and learn from what you do right, and especially from what you do wrong.

 

[Iamrussell]

Do you do buying and selling on eBay right now?

As stated I dont sell because of their fees- I do buy now and then when I can find a good deal and I always buy items that have free shipping

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just keep stacking, just keep stacking, stacking stacking stacking

 

[Generic_Lad]

The problem is, Redbook prices don't always reflect what the market will do and eBay does. Sure, there are some coins that go cheap only because they were incorrectly attributed, put in the wrong category, etc. but most of them accurately reflect what the market is willing to pay. Sure, sometimes it might work but I don't think it would be a reliable plan. Indeed most coins I see on eBay go -much- higher than what I can get them at my LCS, although your results may be different.


When buying coins for potential profit (rather than simply loving the coin) you need to know:

1) How quick of a turnaround time can you get your capital back. If you're spending $300 on a coin to sell for $400 but it takes you 2-3 months, you might be better off to buy several low-valued coins with quicker turn around times that give you less profit, but you can do them more often.

2) If a coin is priced below Redbook it might have a problem that you're not seeing. What problems are associated with this "cheap" coin (weak strike, unattractive toning, artificial toning, PVC damage, cleaning, polishing, misattributed, bent, holed, etc.) and how will this affect your selling.

For me, the best place to buy coins cheap and resell them are auctions, not coin auctions but just normal estate auctions. Sure, you've got some auctions where everything will go 2-3x redbook, but then you've got others that the auctioneer has no clue what anything is worth. Stuff like silver Kennedy half dollars being sold like common clad, foreign coins going dirt cheap, rare varieties that go unrecognized, good coins buried beneath junk in lots, etc. Between that and trolling the junk/melt piles at my LCS, I can eBay enough coins to let me expand my collection.

 

[coinguy*matthew]

Many of us who do this will not give our secrets up that easy...........................you have to know what it is you're buying and that won't come easy. You will certainly lose some money before you gain anything, its the price of admission, good luck.....