April 24, 2008

Ebay Tips #2: Check The Sellers Feedback

Ebay Tips No. 2 Check the Seller’s Feedback First Most of the times we only use feedback for trust and confidence issues but sometimes we could also use this for tactics. If a Seller is selling coins and you suspect that this is his/her first time to sell coins you could confirm this by checking his/her feedback. The reason why this is relevant because most Sellers despite a good number of feedback are not Coin Dealers but Ebay Dealers. What do I mean by Ebay Dealers? These are people who sell everything on Ebay, from nails to airplane. Ebay Dealers and Coin Dealers are different from each despite the fact that they are on the same boat, Ebay. Coin Dealers sells coin on Ebay using coin catalog to set their margin of profit, on the other hand, Ebay Sellers are using capital investment. For example, if a coin Dealer acquired a rare coin for 1$ that has a catalog value of $1000. He might set the starting price for $750 or more based on the rule of catalog. For Ebay Dealers, it’s a different scenario. If an Ebay Seller acquired a coin for 1$, since they are not particularly concerned with the catalog price of the coin even if it is $1000, usually they might set the starting price of the coin from 5$ to $10 just to recover the cost and make decent profits. Most Ebay Dealers are Estate Sellers or Auctioneers. They are selling properties of the parties they are representing so they are on commissions only. Most of these properties are sold just to recover sum of money. Even Coin Dealers buy their inventories from this type of auction. However, since items are not labeled properly and there is no guarantee of authenticity, as buyers you should always come prepared with reference and knowledge before participating in their auctions.

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