In the prior 90 days, Ebay sellers have sold just 17 five-figure CAC coins. I suspect that Great Collections has sold hundreds of times as many without any risk of fraud or other loss to the consignors. With by far the lowest selling fees in the business (hence their $243 million in annual sales).
And I “suspect” that Great Collections hasn’t sold “hundreds of times as many” (as EBay’s 17) five-figure coins during the past 90 days. Doing the math, “hundreds” (which would be two-hundred or more) times 17 would amount to 3400 coins, at a minimum. For that matter, I “suspect” that they haven’t even sold “dozens” of times as many (as eBay’s 17).
However, I know of a different auction house that has sold well over 300 five-figure coins since the start of the year.
And yeah, HA is there, too. I have heard that they did $336 mil in coin auction dollar volume last year versus GC's $240 mil. But GC's consignors' fees are the lowest of any firm of which I am aware.
And you can probably add Stack's to the list although I do not have a clue about their actual dollar volume. And maybe Legend?
But again, Ebay pales in comparison.
As an occasional seller, while GC is a wonderful firm, I haven’t had them give me more than the hammer price, while HA, Stacks, and Legend do. So even though buyers (like me) will often reduce their max hammer bids more with a higher bp, that difference is minimized to the seller who receives more than the hammer from the other auction houses.
As such, to ME (and many others like me), the size of the bp is not a factor in my decision as to where I buy or sell my coins at auction.
I buy and sell at all of the above auction houses mentioned, plus DLRC. I occasionally buy at eBay, but will no longer sell there. While my limited sales on eBay have NEVER been problematic, I’ve read too many true horror stories here about “kookie” buyers. I always try to avoid trouble.
I have a little auction that gets strong prices-so long as the coins warrant them.
Ebay is not a place to attract top buyers. If anything its bottom fishers and newbies. The dealers on ebay are more like scamsters-in my opinion. They are looking for victims.
Huh? Most of the country's largest and most reputable dealers sell coins on Ebay. Are they "scamsters"?
And Ebay has brought my firms many big spenders, most of whom buy directly. Ebay is a good tool for attracting wealthy customers, just as full-page Coin World ads used to be.
You should try listing coins on Ebay, not that you need any more success (save some for we po folks).
Ebay front line customer support is outsourced , offshored, and is totally empowered for the buyer, as long as you know the right trigger phrases. They ordered me to give a refund, and took it out of my funds anyway. Luckily there is a high value frauds team overseeing this whole process. and they overturned the “verdict”. By the wsy the only way to get ahold of an actual ebay employee is thriugh online chat or the eBay for business group on Facebook.
P.s.I’m pretty sure that other place we sell to in Irvine is totally legit and one of the best coin dealers out there. And I’m not even going to start ranting about the fakes, I have had 2 raw coins kicked back from PCGS as counterfeit’s , one was a gold dollar with a cast look to it in retrospect,the other more surprising one was an Isabella quarter in AU condition. Both bought on eBay by me, eager amateur. I have a friend who bought a 1911-D quarter eagle in an NGC slab MS-62 who wanted to trade it with me but my radar said no way he bought it from a guy with a Russian-sounding name off eBay 2-3 years ago and I think he’s now gone. The best lesson for anyone buying on eBay is that no sale is truly final until180 days have passed. That’s how ,long the charge back window stays open.so when a friend makes a dumb purchase i inform him of this , because truly 99% of people are honest.
Years ago, a very old man tried to cheat us out of thousands of dollars via a primitive scam, claiming that he had mailed us something that he had not sent. But he unintentionally admitted his deceptions in one of his rambling handwritten letters, possibly because he subconsciously felt guilty. We submitted the evidence to the postal inspectors but never heard back, probably because it did not meet the $50,000 threshold.
But again, video recordings are the way to go. Then it ain't he said, she said, and/or the criminal said.