OVERPRICED COINS

[avtaxman08]

I have been on Ebay for many years and also sell from 2 different ID yet, I have never priced an item or coin ABOVE its vale. It appears there are many sellers that have coins priced more than 50% ABOVE the NGC or PCGS valued. Then when you ask for a lower acceptable price, they YELL at you and tell you to go somewhere else or, they just BLOCK you. Despite the fact Ebay began as an online auction site for discounted items and STILL to this day is identified the same way, sellers seem to believe they can put any price on an item or coin and hope someone will buy it. despite this delusion, I have NEVER seen an item sell at retail or above its value on this site.

To all those this message applies to, Good luck and I hope you have a day job. Real sad and very arrogant.

[sonomabarn67]

Don't buy those coins?

[tryno2]

Did they sell for 50% above value?  IF so then, that IS the value at least for that sale.  Your idea of the value of anything may different widely from mine, or George's or Jim's or.......    At auction an item is worth whatever someone will pay for it.  It might be 5 times what you say it's worth.  So I'd say don't be so arrogant to believe that YOUR (or some valuation firm's) idea of the value is an absolute fact.  

[waxu_93]

Inflation is very serious in today's world.

and it is understandable that the asking price is high, especially for precious metal coins

[stainlessenginecovers]

Give an example: Coin info and then also give 'where' you are getting your pricing from? If pricing is a book, books age fast. 

[pargran3]

Seller's can try for any price they want. Who are you to determine what a "fair" or "bargain" price would be and why would you be so arrogant to contact sellers and chastise them and try to bully them into a lower price?

Could that your last line would actually apply to you and those like you?

Incredible .

[sangra-104]

Also, you might notice that the coins that appear to be really over priced listings do not sell. They'll sit there for months and months and months and no one buys them because buyers of coins do some research. And it has always been the value of some things with some little pay for it yet. Go to the sold items on your coins and you'll see what the real selling price is on the coins and it's more true. And yes I agree to appoint because some people just ask outrageous prices for coins that the value is just not there. Hope this helps 

[kensgiftshop]

It's their coins and they can ask whatever they want for them.

When you sell an item, isn't the idea to get as much as you can for an item.

Maybe they target newbies that don't know what it's worth, hoping they'll pay those prices.

[sapphire_studio]

Imagine going into a Whole Foods and throwing an enormous temper tantrum because the prices are absolutely ridiculous compared to your normal grocery store you're used to. It's supply and demand and they won't make sales if they price too high. Nobody owes anybody a particular price. All you can do is shop around and Choose Wisely where you decide to buy from. Don't limit your pool of sellers by trying to bully them into lower prices causing them to block you.

[bpaulsen10]

I appreciate that you're outraged over gouging. If I understand your point, it's a moral issue. The majority of people used to care about others taking advantage.

I just came into some coins, know nothing, and want to price fairly. It's so hard to gauge, when I see supposedly mundane coins selling for outrageous prices. eBay says they sold, but it's hard to believe that's true. I can't discern any difference between the ones that sold for ridiculous amounts, and those that were a few dollars. I imagine novice buyers feeling as I do, that I must be missing something special about them.

Honestly, it's hard not to get dollar signs in my eyes. I hit a rough spot, and could really use the money. But, seeing so many in this thread take an "it's their own fault if they get cheated" stance, I just want to throw all of these beautiful coins in the dumpster. It makes me sad that too many would say that I would be stupid to allow myself to experience even worse financial issues, rather than take advantage.

[soh.maryl]

On eBay, as you know, any seller can set his price at any level he wants.

On eBay, also as you know, if/when a buyer sees a price as too high, he can hit the back arrow and find another seller with another item.  

[maxine*j]

This thread is several months old, so I'm not sure the OP will ever see your reply to him.

If you're just looking at Current Listings, remember that the asking price is not the selling price.  Sellers can ask any amount they want, but that doesn't mean they'll ever get it.

If you're looking at Sold Listings, remember that those coins "sold" for that price in the sense that those were winning bids or BINs -- but the buyers likely will never pay for them, and the fact that the items are never paid for isn't shown.

The buyers did get what they wanted to get, though -- a "record" of a sale at that high price. If there is a "record" that something sold for $5000, and I now offer mine at $3800 someone may gobble it up.  No matter that it was never worth more than $1500 on a good day.

It's an old, old ploy to create interest and inflate values and it has been going on forever in the marketplace.  There is nothing new under the sun.

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[maxine*j]

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@bpaulsen10 wrote:

... I hit a rough spot, and could really use the money...

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My advice is to take them to a coin dealer, then.   Get what you can for them.  Or you may find that the dealer will sell them on consignment for you (some will, some won't). 

eBay is not a place to sell if you're in a financial bind, for a number of reasons:  As an infrequent seller, you will be the target of scammers.  eBay will hold your payouts for up to a month.  The Money Back Guarantee for Buyers is pretty much automatic, in the buyer's favor.  Failing winning through the MBG, buyers can do a credit card chargeback for up to six months. 

Most buyers are honest, of course, and eBay is a great place to sell to them -- but only if you have a plan that includes allowing for losses, if you do not need money immediately, if you know what you're selling and selling what you know. 

Good luck whatever you decide to do.

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[tryno2]

You are wrong.  There is a difference between overpriced things like medicine and groceries.  Things that everyone needs and high priced "I want it" items.  Several years ago I bought an advertising item at auction for $5 sellers were happy, I was happy, auctioneer was happy.  I listed it on EBay, it sold for $100+,  I was happy, buyer was happy.  Everyone was happy.  A few months later at a different auction that exact same item (it had a mark on the bottom so yes the SAME one) item sold for $500 plus.  Seller was happy, buyer was happy, I was happy, auctioneer was happy.  So who the heck got ripped off?  If your answer is no one, then you are correct.  ANY other answer is 100% wrong.  

[kuhirs_7]

It’s the reason why the market for coins on this platform is garbage.  Zero legitimacy.  
Ebay clearly is not interested in any kind of vetting process.  The net result is a bunch of hacks who know nothing about coins trying to rip someone off or sheer incompetence.   A state quarter for 2 grand. With supposed errors that in fact are post mint damage.  Gtfo.