Auctions vs. Buy it Now
I have a few pieces which are rare and attempted to put them on sale. While a lot of watchers no buyers. To be truthful I did not want to sell at that sale price anyway. Should I try an Auction with a reserve that satisfies me. I really don't want to sell the piece but know I must. When I do searches I cannot find another and it is a signed Capodimonte Maggioni artwork.
37 comments
simba6
·1 year agoIf it did not sell at the lower price, either it's over priced or you have to wait and try again in hopes of different buyers. A reserve is a waste of fees. Just start the auction at a price your happy . Many buyers will not even bid if there is a reserve as they don't want to play guess the price.
meme6253
·1 year agoI agree with mr_lincoln on this one, That seems to be your Best option, It is hard to get rid of some of your favorites, I can fully understand that, Good Luck!!
mustang707
·1 year agoI agree with @Anonymous about the AI description. You say it's signed but I think you mean to say it has a maker's mark or a hallmark. If it's signed that usually means a signature. And as @pennpicker said it does appear you are missing parts. Look at the description for the UK one. Granted, it's a little sparse but tells me more than your description.
jdbelt1960
OP1 year agoIt is signed by Maggioni. It is faint but inscribed behind the chair where it should be. It is trademarked as a Capodimonte.
an-57470
·1 year agoLose that ridiculous AI “fluff†description and write your own.
tobaccocardyahoo
·1 year agoA month ago I might have answered as @onefootflipper did.
I have had a run of good luck recently with some auctions, not only did more items sell than I expected, but some sold for substantially more than the Terapeak past sales information presented.
I would have left money on the table has I done my usual pricing for BIN.
onefootflipper
·1 year agoAuction format is like sending in sports cards to get graded. You might come out on top of any given transaction, but if you do it enough times the variability will smooth over and you will end up worse off then if you had just used buy it now for everything.
Thus you have to be incredibly selective.
This is an example of something I would auction, the rare cockpit variant of the classic Sinistar arcade game. There hasn't been one on ebay in at least 3 years and I know for a fact there are a huge number of well off collectors of arcade equipment willing to place bids on this thing deep into the 4 figure range even if it was broken. Less than 200 of these were made, there are probably less than 20 of them left in the world. Most of which are already in high end collections and are unlikely to come to market anytime soon. And these cannot properly be reproduced or restored from empty shells as there are a bunch of parts specific to this machine that no one reproduces.
Here is an example of something I would not auction, the more common version of the same game. These tend to bring $1500-$2000 and are available enough that it is unlikely one would get bid out of the usual range. I would just put the $2000 on it as buy it now. They made 5,000 of these things and they can be fully restored even if turned into another game or even if just an empty shell. There are likely somewhere between 1000 and 2000 examples of this thing left in the world.
christworks
·1 year agoThe only time you should use an auction is if there is low supply, high demand, and you don't know the market value of the item. Otherwise, you are often leaving money on the table.
As far as all your watchers, many of them are likely other resellers, waiting to see if you reduce the price so they can scoop it up and resale it here, or elsewhere.
I'm also confused as to why you say you "are not trying to get rid it." If you are listing it, then you clearly are trying to get rid of it. You need to commit to selling it, or not list it at all. Otherwise, you will regret it and the money you get won't matter. It is okay to hold on to things. If you need the cash, find something else.
soh.maryl
·1 year agoPerhaps the OP meant that he's not desperate to get rid of it or needs to sell it so badly that he will take almost any offer.
jdbelt1960
OP1 year agoI for sure am not desperate to sell it. I have some items to bring to a porcelain expert and will delist this for a minute. I am glad for pennpicker to show me that listing. That is the only other one now I know of and it is great to know about the needle and thread. I want it perfect.
mam98031
·1 year ago@jdbelt1960
I wouldn't recommend a reserve. Buyers really don't like them and they cost you more to list. You should figure out what your rock bottom price you would accept for the items and start the auction for that amount. But be reasonable. If you rock bottom is to high, you won't get any interest in the auction.
Make sure your listings are complete with good descriptions and clear pictures.
Do a 7 day auction. They get the most action IMHO.
Make sure you have your Buyer Requirements set up to have buyers provide payment info before they can bid.
jdbelt1960
OP1 year agoI just tried another search and only comes up with my piece.
bonjourami
·1 year agoVintage collectibles have taken a beating on Ebay in the last few years, an oversaturated category, with millions of listings.
jdbelt1960
OP1 year agoSome commenters said my item is missing things. Others said they found it overseas. I have done searches and not found another. If someone finds it please send.
pennpicker
·1 year ago@jdbelt1960
https://www.ebay.co.uk/itm/157203906936?mkevt=1&mkcid=1&mkrid=710-53481-19255-0&campid=5338722076&customid=&toolid=10050
jdbelt1960
OP1 year agoThank you. That is only the second I have seen next to mine and truthfully I wondered if she was supposed to have thread and needle. I have to visit a porcelain specialist for another piece so will probably pull this piece.
pennpicker
·1 year agoLooks like it would not be too difficult to duplicate and replace the needle and thread for your figurine, if one had the aptitude for such things. The other seller posted good photos to work from.
And as mentioned, they are not competition since they do not ship to the USA so yours is still the only one available here. Tack on what it would cost to ship that here if they did and you are not far off the mark.
jdbelt1960
OP1 year agoThe point is I have not found another figurine like it to set a price point. It is unique and vintage.
a_c_green
·1 year agoOkay, understood, so this comes back on you to determine how much you would like to get for it. That's your opening price.
I would not suggest making this a BuyItNow, however (either with or without an auction). If yours is One Of A Kind (for whatever reason), and your listing clearly shows that, then you want to give someone with deeper pockets a chance to win it, and not simply sell to the first guy who happens to notice the listing and knows what he's looking at. You need to give people a chance to compete for the item if that's the only one of its kind.
Forget the Reserve; that's just not happening. It will cost you money and deter bidders who either don't want to mess around with trying to meet a Reserve or simply don't understand what a Reserve is, and think they won because they were lead bidder, then discover otherwise after the auction is over. (This includes bidders who don't bother to read the listing in full.)
Write your own description (do not use the AI tripe), take sharp photos of all details (especially flaws), and good luck. Once that first bid comes in, later ones can only go higher. Do not be talked into ending the auction early; that simply means that your interested party is afraid that the final sale price will go higher than he can afford.
12345jamesstamps
·1 year agoBuy it now or best offer.
You obviously want a certain price for it.
This gives you an idea if there are any interests out there.
Might get watchers as well that might show it could sell at the right price.
Auction with a reserve...nope.
To get rid of it...start auction at .01...otherwise, you be wasting your time.
jdbelt1960
OP1 year agoI am not trying to get rid of it. It is a valued piece and I want the best price for it.
jdbelt1960
OP1 year agoI have had plenty watchers but people are not interested in paying for art figurines. Some are. I am not trying to just get rid of it.
mr_lincoln
·1 year ago@jdbelt1960
It sounds like you have a small group of potential Buyers for that piece. That is not a bad thing but it may take longer to sell it and numerous times relisting it Auction style, I do that all the time. After the first listing cycle you might get messages with folks wanting to offer you less for it ... stick to your guns, eventually one of them will simply decide they want it and win the auction.
mr_lincoln
·1 year agoHi @jdbelt1960
I sell a lot auction style and it is good for OOAK items as well as rare and unique pieces. You do NOT want to use the Reserve price feature, they charge you a fee every time you list or relist the item and you don't get the fee back.
Your starting auction price should be an amount you are willing to sell the item for on one bid. More bids means more money.
-Use the 10 day auction cycle and start it on a Wed or Thurs ... it will get two weekends of exposure and end on a weekend (Sat or Sun) when many items sell because lots of folks are at home.
a_c_green
·1 year ago@jdbelt1960 : That's it (above), in a nutshell. Your minimum acceptable selling price is where your auction should start. No reserve; that's just a way to waste money on needless fees. Good luck.
jdbelt1960
OP1 year agoDo you think setting a high auction starting price (which is still lower than I paid) is the way to go. I may get more serious buyers.
mr_lincoln
·1 year ago@jdbelt1960
When I sell auction style the starting price covers my cost, eBay fees and my target profit margin.
I have started auctions for several hundred dollars and one started at over $ 1700. Right now my higher end items have sold out ... all sold via Auction format.
reallynicestamps
·1 year agosetting a high auction starting price (which is still lower than I paid)
Dealers buy low and sell high.
Collectors buy high (retail) and sell low to the secondary market.
A higher resale price is usually only inflation not actual value.
Auctions are only open for seven days.
Fixed Price is open for 30 days and relists automatically until sold.
Which is most likely to be found by the buyer?
jdbelt1960
OP1 year agoYou are correct. I also collect coins since I was young. Over the years I learned quite a bit or where to get information. Now with the porcelain (which I know nothing about) I would rather recognize value. PennPicker was great in pulling another example as I searched (but not internationally) for a reference. That is how we learn. Darn the Michelangelo ( I think it is) has broken arms and is worth millions.
onefootflipper
·1 year agoAn auction with a reserve is a wonderful way to both not sell your item AND pay a reserve fee.
Auction is almost never the correct choice for anything unless you need it gone in 10 days.
The most a signed Capodimonte Maggioni piece has gone for in the last 3 years is $110. The unsold ones at $20 tell me that while yours might be special, the demand is just not huge.
jdbelt1960
OP1 year agoWell although there are some Maggioni's selling inexpensive there are some lesser older creations selling for a better price. Yes I realize porcelain figurines are a hard market as well as Rembrandts or other great artists. Young people aren't into the value of art. But there are still some people who recognize it.
pennpicker
·1 year agoAgree, using a reserve for this is a bad idea.
Same figure with a more detailed base is on the UK site now for about $221 but they do not ship to the US. Listed less than two months ago.
pennpicker
·1 year agoIt also appears your example is missing the original needle and thread so you may wish to revise your description.
jdbelt1960
OP1 year agoThere is no needle or thread. Please show me if you know otherwise.
jdbelt1960
OP1 year agoI have not found it but $221 could be a good price in the UK. In the US it would be higher.
onefootflipper
·1 year agoActually it looks a lot better if I take the word signed out of the search string, much wider range of sale prices.
However I am nearly always of the opinion that auction is the wrong choice almost all the time, and that reserve fee is brutal.
chapeau-noir
·1 year agoMan, I get so tired of this.