15 Watchers and a question

[coinbug]

I have a rare token with 15 watchers on eBay (buy it now). My buy it now price is at the high end of its auction range (around 4K). Is that enough interest to make it worth putting on auction? I guess there's no downside to that if I put a decent reserve price on it?

My other option is to send it to an auction company that will advertise it and likely realize a good price.

Is there a downside to having it on eBay for lo these many months and then sending it to an auction house?

 

Amazon Forum Fav 👍

DR.ÖTEK Metal Detector, Waterproof Gold Detector, Pinpoint & Terrain Modes, Professional Metal Detector - Grab it through Amazon!

[Diver_Down]

You will have to pay to put a reserve on it, but in my experience, I shun auctions that play the reserve game. The bidder won't know until they place the first bid when they will be alerted that their bid didn't meet the reserve. In those instances, I won't play the game. Now, if you send it to an auction house, you will still pay for a reserve in addition to the higher consignment fee. If you are certain that the consignment fee will be less than 13% and the auction house has a proven track record to realizing top prices, then I would just consign it with the auction house.

It sounds like you know what it is worth, and others also know what it is worth. The difference between what you think it is worth and what the buyer thinks it is worth would explain why no-one has bought it outright. Sellers always want the most and buyers always want a good deal. Do you have authenticated and graded? Or is it raw? When dealing with the high value coins/tokens, buyers want the assurance. If it isn't authenticated and graded, then you should pay for that expense. If you don't, then you should be willing to accept less than top dollar.

If you are willing to accept less (it still might realize the top value when the auction ends), then revise your current listing with the watchers. Start your auction with what you willing to accept without dealing with reserves. And leave your BIN price at the top value.

 

[coinbug]

I do have it authenticated and graded. That's the first thing I did when I purchased it.

That makes sense to start my auction with the lowest price I'll take. If it doesn't sell I can leave it with a BIN price or send it to the auction house.

Thanks!

 

[Paleo_joe]

Lower your BIN every week until someone bites. Auctions typically go for 20% less than a BIN.

Commission at an auction house will be closer to 33%, but I have almost always netted out more than on ebay. Sometimes much more. Buyers with thousands of dollars like to see what they are buying. The downside is you wait for your money. And you have to find an auction house who’ll take your item

 

[GibH]

I agree Diver Down. Reserve auctions tend to have significantly less bids.

 

[jeff of pa]

if I understand What your thinking, greed will get ya.

You could end up with a token, that's not worth all the hype.

I found out a long time ago, book values and values to buyers
are almost never close.

Personally I Take what I can get & Lick my Wounds Later on What If.

Funny Thing, I Was never able to Buy things with "What If's"

 

[Carlitosway2]

Try buy it now with best offer, it will give you a decent round about what people are really willing to spend. Most watchers are just curious if it does sell. I have a million dollar Ferrari on my watch list and I surely can’t afford that but curious to see who will.

 

[flinthunter]

I used a reserve once on an Ebay auction for a Yeoman Redbook. I told everyone up front in the description that there was a 300 dollar reserve on it. It didn't seem to bother anyone about the reserve because I had about 6 bidders on the book. I did put the reserve a bit lower than what I thought the book might bring just so it wouldn't scare potential bidders off. I think telling everyone before hand what the reserve price was, helped the auction. It went very well.