Your thoughts on buying Coins off ebay. Do you think I should do it?

[Iron Patch]

Here you go, why free shipping(and insurance in my case) helps me make more money. First I have to say you have to be a powerseller to get the benefits I do. Ebay currently has 4 ways of judging people called DSR's(detailed sales ratings) that a buyer leaves for a seller. Shipping price is one of those, so even if you aren't a powerseller and are serious about growing a long term business it does still help in the long term. One thing to do before you are a powerseller is split a little of the difference. Charging $1.49 or less for first class is a smart thing to do in my opinion.

Back to DSR's. ebay gives powersellers a discount on FINAL VALUE FEES depending on your DSR's received. No discount on listing fees, featured auction fees, etc.

Ebay gives powersellers a discount, and the higher your DSR's the better the discount. The note at the bottom about free shipping is most of the reason free shipping is making me more money. This is off the ebay website:

If you are a PowerSeller and all four of your detailed seller ratings (DSRs) for the past 30 day period are 4.6 or higher, you qualify for a 5% discount on Final Value Fees
If you are a PowerSeller and all four of your detailed seller ratings (DSRs) for the past 30 day period are 4.8 or higher, you qualify for a 15% discount on Final Value Fees
If you are a PowerSeller and all four of your detailed seller ratings (DSRs) for the past 30 day period are 4.9 or higher, you qualify for a 20% discount on Final Value Fees (the 20% discount will begin to show on your July, 2008 invoice).
EXTENDED THROUGH JUNE! For items sold between October 1, 2008 and June 30, 2009 PowerSellers with high DSRs that qualify for Final Value Fee discounts will get double the discounts on their items sold with free shipping.

Since October powersellers have been getting double discounts on final value fees when they offer free shipping. Ebay keeps extending it, and probably will be again.

I keep my DSR's above 4.9(not easy, especially with coins I might add), so I get a 20% discount off the top for final value fees. On items I offer free shipping, I get 40% off my final value fees, and extra 20% for offering free shipping. I get a hundreds of dollars credited back to my account at the end of the month thanks to the free shipping auctions. I also offer free insurance for a few reasons. The first is I can require insurance, but have found that people might hit you with a lower DSR, even if you offer the actual cost. I have offered optional insurance, but most people won't take it, and if a package gets lost they will hit you where it hurts, and cost you money, with lower DSR's if you don't eat the cost and give a refund.

Insurance can be bought cheaper than through the post office, even if you send USPS! Too good to be true? NOT. Inkfrog.com is where I do my picture hosting for my ebay auctions, and have for many years. They offer insurance, even international to most countries, where the post office won't. They charge 55 cents per hundred, which is a killer deal any way you slice it, and you don't have to pay postage or send through Inkfrog, it is a very cool program.

I hope this helps, and feel free to ask any questions you want about this or anything else to do with ebay.

I also start every item at 1 cent no reserve, even if valued at thousands of dollars, and have proven conclusively that I make more money this way, and the free shipping and insurance has consistently ended higher than auctions without.

So you offer free shipping during a special offer, not on a regular basis... big difference! If you ship mostly within the US you are costing yourself money because it should be fairly easy to keep your DSRs that high evem with a small charge. My numbers basically stay 4.7 4.7 4.8 4.8 and have to deal with sending about 98% of my items outside the country which of course takes much longer on average than state to state. Given what you wrote I see your point, but will still disagree with it being the best thing to do, yes greed is good and as you know Ebay is more a game than anything. Better than playstation... cuz it pays you to play! I am assuming that fact you do a high dollar figure per month it's based on a fairly high number of auctions, if that's the case a couple dollars each sure adds up.

 

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[mrs.oroblanco]

Hey, since you are a Power Seller, can you answer a question for me?

How come most Power Sellers don't leave feedback until I do?

I pay immediately upon purchase - every time, yet, most don't leave feedback until I receive my merchandise and then leave feedback for them.

B

 

[Iron Patch]

Hey, since you are a Power Seller, can you answer a question for me?

How come most Power Sellers don't leave feedback until I do?

I pay immediately upon purchase - every time, yet, most don't leave feedback until I receive my merchandise and then leave feedback for them.

B

Old habits are probably hard to break.

 

[utah hunter]

Old habits for sure, i sometimes fall back into that habit. Now that sellers can't leave negative's for buyers, it really doesn't matter, buyers can't hold people hostage by thrreatening or leaving negative in response to a negative toward the buyer.

The second reason is when you are busy with life, a first job, family, etc. it is easy for a seller to put off leaving feedback until later.

 

[RON (PA)]

If they have the coin that you want at the right price and the seller has good feedback, then go ahead. I have bought a lot of stuff from Ebay, and have never had a problem. Hope it helps.

 

[utah hunter]

IP, for January and February I had $40,000 in sales and averaged $221 per auction. I don't offer free shipping on lower priced items, that is true, it wouldn't be worth it. If my shipping price DSR was the only number keeping me from a bigger discount, lower shipping, even it was already reasonable, to a figure where it might be slightly below my cost.

I do charge shipping to international buyers, which are a small part of my business. They do drive the price up very nicely for me sometimes, even if they don't win.

 

[Iron Patch]

Old habits for sure, i sometimes fall back into that habit. Now that sellers can't leave negative's for buyers, it really doesn't matter, buyers can't hold people hostage by thrreatening or leaving negative in response to a negative toward the buyer.

The second reason is when you are busy with life, a first job, family, etc. it is easy for a seller to put off leaving feedback until later.

I think the new system sucks but as far as feedback goes my leaving it right away actually makes it easy not having to keep track of who left it for me. Before I would get so backed up at times I'd just go in and leave all pos. just to be done with it.

 

[Iron Patch]

IP, for January and February I had $40,000 in sales and averaged $221 per auction. I don't offer free shipping on lower priced items, that is true, it wouldn't be worth it. If my shipping price DSR was the only number keeping me from a bigger discount, lower shipping, even it was already reasonable, to a figure where it might be slightly below my cost.

I do charge shipping to international buyers, which are a small part of my business. They do drive the price up very nicely for me sometimes, even if they don't win.

Ok, seeing your numbers the discount would be big unless your shipping is very expensive. Over $200 per sale is pretty high, you must either be into some real decent grades or gold? Scary what the E takes isn't it.... pretty easy to spend a mortgage payment on fees per month.

 

[utah hunter]

I have bought a local collection of about 200 Carson City dollars, and I do like to lump a variety of dates together. I bought the collection over time, the seller and I made a deal on price, and every week I would spend what I had earned to get more. The coin dealers here are taking huge advantage of people. I have more people wanting to sell to be because of referrals and reputation for paying a fair price that I don't have the time and money to buy all I am being offered.
I have bought about $14,000 worth on tnet since November, but haven't bumped up mya d for the same reason. I still get offers to buy coins quite a bit. I didn't want to build an ebay business, but when my wife booted me out in December it was a good diversion, due to my disabilities I was a stay at home dad. I am fully disabled and then some, so ebay is perfect. I have to stay in bed most of the day, so all this is done from my bedroom believe it or not. I also only have the energy to work about 20 hours a week. I have been blessed to say the least...Ryan

 

[mrs.oroblanco]

I know a seller cannot leave a bad feedback comment or fee in their listings, but I don't see where they cannot leave bad feedback?

B

 

[Iron Patch]

I have bought a local collection of about 200 Carson City dollars, and I do like to lump a variety of dates together. I bought the collection over time, the seller and I made a deal on price, and every week I would spend what I had earned to get more. The coin dealers here are taking huge advantage of people. I have more people wanting to sell to be because of referrals and reputation for paying a fair price that I don't have the time and money to buy all I am being offered.
I have bought about $14,000 worth on tnet since November, but haven't bumped up mya d for the same reason. I still get offers to buy coins quite a bit. I didn't want to build an ebay business, but when my wife booted me out in December it was a good diversion, due to my disabilities I was a stay at home dad. I am fully disabled and then some, so ebay is perfect. I have to stay in bed most of the day, so all this is done from my bedroom believe it or not. I also only have the energy to work about 20 hours a week. I have been blessed to say the least...Ryan

Sounds like it's working very well for you. I too have found myself getting more involved and at this point it's full steam ahead, try to get bigger and make it worth while. Good luck in the future in both sales and health.

 

[Iron Patch]

I know a seller cannot leave a bad feedback comment or fee in their listings, but I don't see where they cannot leave bad feedback?

B

It's against Ebay policy to leave positive feedback with a negative comment. You could be subtle about it, but that would most likely defeat the purpose. If you're a seller on Ebay the only thing you can do is rethink how you work your sales, and suck it up because it's all about the buyer now.

 

[Silver Eagle]

I to have bought many coins from e-bay (some high $$) & agree you shouldn't bid if a good picture is not offered..
Also, beware of unsearched rolls.! Not to many sellers are truly selling un-searched OBW rolls.
Of course, knowing all you can about the specific coin/s you collect can be most helpful as well..

Its a good place to acquire coins IMO..