What is the Best way to sell an expensive coin on ebay? Other Options?

[holycowsincanada2011]

I am a new seller (3 months) and need some advice. I have listed two gold coins for sale as fixed price listings with OBO option. Now, I am reconsidering taking those listings off after I read the horror stories about scam buyers on eBay and other online market places.

1) how do I ensure I am protected as a seller from spurious buyer claims like INR, Item was damaged or Item was not authentic, etc.

2) is sending by USPS by Priority Mail Express with insurance for full value and signature confirmation adequate?

3) can I offer local a pick? If so, what are the absolute must-dos?

4) I purchased these from the Ottawa Royal Canadian mint. I have the original numbered certificate of authenticity that comes with it. How else can we prove that this is an authentic coin?

5) if possible, I want to sell this as "absolutely no returns" - is that even possible to enforce? I guess I am also worried that buyers will want to return a fake coin after purchasing this from me? 

Several questions like the above have me worried a lot.

any advice and input from experienced ebayer would be greatly appreciated. Many thanks in advance

[retrose1]

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@holycowsincanada2011 wrote:

Agreed.

i am just surprised that ebay has become such a successful online marketplace without a modicum of protection for sellers against unscrupulous buyers

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You are a fine example of what is making ebay successful now - new seller listing high dollar items totally unaware of the risks or how to protect themselves.

Experienced sellers often will either face the risks when listing high dollar items or avoid them altogether.

[holycowsincanada2011]

I have ONE figure that I can put in that covers express shipping and full insurance to ALL countries. Not sure what else I can put in and still be covered for a sale, say, to Sri Lanka.

i agree it is too high for shipping to U.K. I will just lose out on buyers from there.

I put out a post asking about the GSP input before listing, but got no response. I am still trying to figure it out.

[holycowsincanada2011]

I was aware of the risks. That's why I was around in these forums to learn more. I should have done that "before" listing though - I give you that.

Back to general selling on ebay, this whole premise of "list only what you can afford to lose" is not something I realized what selling on ebay was about. I still find it shockingly unacceptable.

[retrose1]

The thing so many people forget is that ebay is a business out to make money for themselves - first - last and always.  So everything ebay does is to benefit their bottom line.  Unfortunately, ebay stopped thinking long term a long time ago, tossing anything up to see if it will stick and then changing before anything has a chance to succeed.

Unfortunately for sellers, ebay considers them replaceable.  For every seller that leaves in disgust because they have been ripped off big time - ebay believes, because it always happens - there are more new sellers to take their place.  And these new sellers don't know any better and are easily manipulated by ebay suggestions into listing high dollar items, generating high final value fees for ebay, and not realizing the risks until it is way too late.

I have sold on ebay for a lot of years - I used to list high dollar items and sell them with no problems, now because of more and more policies that favor buyers, I list low dollar low risk items for just some extra cash.

[inthepastcollectibles]

I have sold many coins, the most expensive was for $7,500, so I think adding my 2 cents is valuable.  If it's not been said, registered mail is the best way to go.  Then add "restricted signature confirmation", which requires the USPS to "only" deliver to the addressee and the addressee MUST SHOW valid identification (such as a driver's license or passport) to retrieve the item (valid ID to the post office is government issued ID with Photo).  It's a little pricey, but if the transaction goes south you are covered and it will automatically start a "criminal investigation" by the USPS.  It can be scaring using eBay to sell expensive things, but an ounce worth of prevention far outweighs a pound of cure.  If you need further information on "how to do", please feel free to private message me.

[holycowsincanada2011]

Has anyone here used the ebay valet program to sell high value items. Are some of the risks mitigated when we use them?

[duggmills]

Shipping to UK:

One pound four ounces from  America to UK with insurance for a $1600 item is $104.65.

This is via USPS Global Express Guaranteed and requires a larger size box rather than a small box than than item would need domestically. No other forms of USPS shipping allow this amount of insurance.

I based my search on a 10" x 6" x 8" box which affords the added value of being less likely to disappear somewhere in the system. 

Now, add 10% of that USPS price when invoicing the buyer to cover the zero effort commission on shipping eBay helps itself to right off the top. 

Your listing should announce this shipping adder and should also remind the buyer that customs, VAT, duty and other associated charges are the responsibility of the buyer as are delays in delivery for their failure to pay and pick up the item.

Now shipping becomes $115.12, not $22.50 as claimed by what's his name.

By the way, I wouldn't want a buyer  who thinks you should put yourself at total risk because he or she thinks your shipping should be what they think it should be.

[holycowsincanada2011]

Thanks for your valuable input. Much appreciated.

The only piece of the puzzle now is "how do I ensure the buyer can't claim that I sent him a large pebble in a small box"

[holycowsincanada2011]

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@duggmills wrote:

By the way, I wouldn't want a buyer  who thinks you should put yourself at total risk because he or she thinks your shipping should be what they think it should be.

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Spot on. I personally pay no heed to the quoted shipping cost, but look at the list price +shipping. If I think that's reasonable, I buy it. If not, I move on.

[sam9876]

 "how do I ensure the buyer can't claim that I sent him a large pebble in a small box"

You can't.

[holycowsincanada2011]

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@duggmills wrote:

Your listing should announce this shipping adder and should also remind the buyer that customs, VAT, duty and other associated charges are the responsibility of the buyer as are delays in delivery for their failure to pay and pick up the item.

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I missed this in my listing. Have used similar worded caveats in my other listing before. Thanks for pointing it out.

[kclim0828]

DON'T.

[gracieallen01]

Personal opinion - find a good coin dealer with a high reputation.

If it is bullion, then you will get the current, less his percentage.

If it is a collectible, and it is a good dealer, you will get very close to book and if it is rare, you will probably get book or better.

Just from personal experience.

[ted_200]

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@holycowsincanada2011 wrote:

Thanks for your valuable input. Much appreciated.

The only piece of the puzzle now is "how do I ensure the buyer can't claim that I sent him a large pebble in a small box"

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You can't, which is the problem. 

There was someone posting here regularly several years back who sold a U.S. $20 gold coin ($2K ballpark transaction), they got a dispute, the buyer sent back a common $1 coin.  The odds of a problem are fairly low... but someone could claim a minor flaw not visible in the photos, return a loonie to you, and eBay will claim they don't protect against "faulty returns". 

I would not go anywhere near the GSP or the eBay Valet with an item like these either.  I'd be looking for an in-person in cash deal on coins like these, with no venue or payment processor fees involved.

[oaklandmaryland]

This is why I stopped selling my coins on Ebay. Got too many returned with replaced junk coins and the buyers got their money and the good coins for nothing. Sell them via the newspaper, coin shows or conventions for cash and walk away smiling.