Author Topic: TUTORIAL: How to avoid being a bad SELLER  (Read 10716 times)

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Offline Panda Halves

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TUTORIAL: How to avoid being a bad SELLER
« on: December 15, 2012, 02:56:36 AM »
1: Certification numbers MATTER
As a buyer, collector, and infrequent seller of certified coins I can tell you that the certification number is what matters in certified coin transactions. As a seller; when you provide a prospective buyer with a certification number, then the buyer is buying THAT coin. Not a coin similar to the coin, not a coin with a preconceived variety that may or may not be like the coin with the certification number but the buyer is buying a very specific coin that is viewable on a Registered coin Database. The buyer can see the official photos from the grading company and compare them with any information the seller provides to determine if the coin has any flaws, features, or special characteristics which make it worth purchasing. This metric applies to ALL Certified coins from the most inexpensive to the most expensive.

2: Failing to deliver coins is BAD for the market
Holding back coins and making partial shipments is a horrible practice. The bottom line is that sellers don’t know what impact a single seemingly insignificant coin may have to another collector or especially a dealer. Perhaps the $200 coin failed to deliver upon is the last piece of a $200,000 deal that the dealer needs to close on to deliver a lot of coins to a client. Thus, what the potential seller sees as a $200 error may cause exponentially greater financial problems for the other party.

3: Learn from your MISTAKES
If a seller cannot afford to make $500 mistakes that result from sending the wrong certification numbers then said seller should double-check details before sending certification numbers. It is the seller’s responsibility to protect inventory, ensure accuracy, and deliver coins as agreed upon.. It doesn’t matter if the seller chooses a wife, daughter, or crazy uncle Earl to send certification numbers and verification information, if this person is acting as a trusted agent for the seller then the deal should stand. If the seller cannot afford for a trusted agent to make a mistake then the seller should take the time to send the information personally.
Sometimes mistakes happen and this is when it is time to own up to the mistake and do the right thing and not the most profitable thing. By doing the right thing sellers can establish fantastic reputations. Sellers who don’t own up to mistakes don’t have a chance to learn from them are hence are more apt to make future mistakes. I typically avoid dealing with these types of people.

 N40

Offline SANDAC

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #1 on: December 15, 2012, 11:58:02 AM »
Well said.

One point I like to add is to put some efforts into communication.  In this e-commerce age, we are what we write.  Buyers can easily be turned off by flippant comments regardless of how good a merchandise may look.
« Last Edit: December 15, 2012, 12:06:49 PM by SANDAC »

joeman

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #2 on: December 15, 2012, 12:43:37 PM »
 :lol:just to present the flip side of the coin, everything you said has a fair degree of accuracy, but take one to thing into account ,mistakes are made ,intent is everything in a transaction, honesty by both BUYER and seller are paramount ,and since you readily admit being a infrequent seller , I might offer you some tutoring, As a seller you do not amass literally 100,s of 100% positive feedbacks and hundreds of delighted buyers in a difficult,stringent selling environment like e bay,without going above and beyond for your customer,s and 1000,s of transactions outside of e bay with the huge amount of delighted buyer ,But when a buyer clearly buys something at a price and then believes he can scam something else for the same price that is simply wrong and we revert right back to rule #1  honesty by both BUYER and seller are paramount

Offline Birdman

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #3 on: December 15, 2012, 01:37:19 PM »
1: Certification numbers MATTER
As a buyer, collector, and infrequent seller of certified coins I can tell you that the certification number is what matters in certified coin transactions. As a seller; when you provide a prospective buyer with a certification number, then the buyer is buying THAT coin. Not a coin similar to the coin, not a coin with a preconceived variety that may or may not be like the coin with the certification number but the buyer is buying a very specific coin that is viewable on a Registered coin Database. The buyer can see the official photos from the grading company and compare them with any information the seller provides to determine if the coin has any flaws, features, or special characteristics which make it worth purchasing. This metric applies to ALL Certified coins from the most inexpensive to the most expensive.

2: Failing to deliver coins is BAD for the market
Holding back coins and making partial shipments is a horrible practice. The bottom line is that sellers don’t know what impact a single seemingly insignificant coin may have to another collector or especially a dealer. Perhaps the $200 coin failed to deliver upon is the last piece of a $200,000 deal that the dealer needs to close on to deliver a lot of coins to a client. Thus, what the potential seller sees as a $200 error may cause exponentially greater financial problems for the other party.

3: Learn from your MISTAKES
If a seller cannot afford to make $500 mistakes that result from sending the wrong certification numbers then said seller should double-check details before sending certification numbers. It is the seller’s responsibility to protect inventory, ensure accuracy, and deliver coins as agreed upon.. It doesn’t matter if the seller chooses a wife, daughter, or crazy uncle Earl to send certification numbers and verification information, if this person is acting as a trusted agent for the seller then the deal should stand. If the seller cannot afford for a trusted agent to make a mistake then the seller should take the time to send the information personally.
Sometimes mistakes happen and this is when it is time to own up to the mistake and do the right thing and not the most profitable thing. By doing the right thing sellers can establish fantastic reputations. Sellers who don’t own up to mistakes don’t have a chance to learn from them are hence are more apt to make future mistakes. I typically avoid dealing with these types of people.

 N40

Good insights, on several specifics, PH.

That general rule to "treat people the way you'd like to be treated" also applies.


Sometimes mistakes happen and this is when it is time to own up to the mistake and do the right thing and not the most profitable thing.

Doing the right thing might also end up being the most profitable thing...in the long run.

I'm scared to add up how much I've ended up spending with some sellers  :scared: , because I keep writing them check after check after check.  When the service and selection are good, a buyer keeps coming back for more.  And they recommend that seller to other buyers...

Offline dynamike51

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #4 on: December 15, 2012, 02:12:44 PM »
1: Certification numbers MATTER
As a buyer, collector, and infrequent seller of certified coins I can tell you that the certification number is what matters in certified coin transactions. As a seller; when you provide a prospective buyer with a certification number, then the buyer is buying THAT coin. Not a coin similar to the coin, not a coin with a preconceived variety that may or may not be like the coin with the certification number but the buyer is buying a very specific coin that is viewable on a Registered coin Database. The buyer can see the official photos from the grading company and compare them with any information the seller provides to determine if the coin has any flaws, features, or special characteristics which make it worth purchasing. This metric applies to ALL Certified coins from the most inexpensive to the most expensive.

2: Failing to deliver coins is BAD for the market
Holding back coins and making partial shipments is a horrible practice. The bottom line is that sellers don’t know what impact a single seemingly insignificant coin may have to another collector or especially a dealer. Perhaps the $200 coin failed to deliver upon is the last piece of a $200,000 deal that the dealer needs to close on to deliver a lot of coins to a client. Thus, what the potential seller sees as a $200 error may cause exponentially greater financial problems for the other party.

3: Learn from your MISTAKES
If a seller cannot afford to make $500 mistakes that result from sending the wrong certification numbers then said seller should double-check details before sending certification numbers. It is the seller’s responsibility to protect inventory, ensure accuracy, and deliver coins as agreed upon.. It doesn’t matter if the seller chooses a wife, daughter, or crazy uncle Earl to send certification numbers and verification information, if this person is acting as a trusted agent for the seller then the deal should stand. If the seller cannot afford for a trusted agent to make a mistake then the seller should take the time to send the information personally.
Sometimes mistakes happen and this is when it is time to own up to the mistake and do the right thing and not the most profitable thing. By doing the right thing sellers can establish fantastic reputations. Sellers who don’t own up to mistakes don’t have a chance to learn from them are hence are more apt to make future mistakes. I typically avoid dealing with these types of people.

 N40


PH:

Well stated. Apparently, "someone" is not heeding your advice, though.   :(

Offline yennus

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #5 on: December 21, 2012, 07:48:02 PM »
Yep, that golden rule is... golden :)

"treat people the way you'd like to be treated."

Offline akdreamer

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #6 on: April 08, 2013, 12:14:52 AM »
Thaqnks for the posting... I am thinking of selling the coins I have posted on here for sale on this site... can you offer me any suggestions on selling on this site?

Offline BobW

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #7 on: April 08, 2013, 12:50:51 AM »
A good seller includes an invoice with his shipment. The invoice should include a line by line entry for each item. Each item should be described and the price paid. The seller should include his name and address. Please also include the buyer's and address.

It takes little effort to create a professional looking invoice and is a ready reference should the buyer choose to buy more items from you.

A copy of an eBay generated invoice meets the minimum requirement.

Offline pandalover

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #8 on: April 15, 2013, 05:50:54 AM »
This post should pin to top and every seller on here should read this before listing their items.

A forum member just send me a coin with cert no different from the one talked during the conversation.
It is sad that seller do not ask for my consent and make decision on his own.


Offline Silver bullion boy

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #9 on: August 24, 2013, 10:01:14 AM »
Very well put, business is a serious matter and should be treated that way!

Offline jwa1inv

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #10 on: November 24, 2014, 06:00:48 PM »
Each sale is a negotiation.
The FULL terms of the sale need to be understood and agreed by both buyer and seller,
especially the description. Returns policy should not be overlooked.
No one sided, hidden changes to the deal are allowable, especially once shipping happens.
If buyer or seller insists on a change in terms, the other must agree or there is no deal.
Transparency of the terms of the deal is very important for trust and expectations.
Everything in writing is best.

Quality of shipping matters also. Seller should provide tracking information and secure
packaging with minimal movement of coins/capsules or slabs inside of shipping box.

Offline KeepOnTrying!

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #11 on: July 09, 2016, 05:44:00 PM »
Thanks for the above posted information on important aspects of coin sales.

I plan to start selling some of my extra coins and medals on eBay. This is an attempt to make my Collection “self-fund” additional coin purchases!

I respectfully solicit advice from forum members on how to avoid problems with eBay sales.

I want to make sure I don’t cause any problems with the transactions and buyers. At the same time I wish to avoid problem buyers/sales.

Finally, I would like to know, before committing myself to this project, what eBay fees and fee structure look like. Do you pay eBay to host your merchandise whether or not it sells? Are there annual fees and other hidden charges I should be aware of? From my experience with setting up other businesses I want to avoid getting scalped.

I do not have any experience of selling on eBay so I truly will appreciate your words of wisdom and advice.

Thanks and Best wishes.

KOT!
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Offline silverpv

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #12 on: July 09, 2016, 06:36:57 PM »
If you are going to sell some medals on ebay, get a monthly subscription to an ebay store to drop your percentage from 10% to 6%. You will have to sell $400 /mo to break even and anything over 400 is money in the bank.

Offline KeepOnTrying!

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #13 on: July 10, 2016, 12:09:58 AM »
If you are going to sell some medals on ebay, get a monthly subscription to an ebay store to drop your percentage from 10% to 6%. You will have to sell $400 /mo to break even and anything over 400 is money in the bank.

Thanks for that important piece of information. +1  N40

I'll have to take that into consideration when signing up. However, this means that I have to maintain an inventory month to month although another option could be to close the store when I don't have inventory, to avoid charges when nothing is being sold. I don't know how that works but I'll learn!
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Offline silverpv

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #14 on: July 10, 2016, 12:13:07 AM »
You can do it on a month to month basis. So your best bet is to get it all ready to go right away.

Offline KeepOnTrying!

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #15 on: July 10, 2016, 12:19:09 AM »
You can do it on a month to month basis. So your best bet is to get it all ready to go right away.

Ok. Will do. Thanks again!
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Offline Vredaren

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #16 on: July 10, 2016, 04:49:30 AM »
If you are going to sell some medals on ebay, get a monthly subscription to an ebay store to drop your percentage from 10% to 6%. You will have to sell $400 /mo to break even and anything over 400 is money in the bank.

Wow, I didn't know that, thanks for the information!

Offline Vredaren

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #17 on: July 10, 2016, 05:05:47 AM »
If my math isn't incorrect though - at 6% fees instead of 10% fees it should be a bit more than $600 in sales to save money if your subscription is $25/month. It also appears that the prices differ depending on which country you reside in.

Offline jc888888888

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #18 on: July 10, 2016, 06:48:44 AM »
I would suggest you sell to USA only .... or at the very least screen your international buyers very carefully as previously reported here... I did not follow my own advise once and it cost me close to $1000  feedback matters!  check you buyers feedback it is easy to spot a less than desirable buyer .....  pay a little extra shipping (insurance) to protect yourself   anything over $275   get a signature confirmation

Offline NBM

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #19 on: July 10, 2016, 09:27:56 AM »
Would it be possible to sell through an established dealer on consignment?
If so what would a fair fee be to pay for this service?

Offline KeepOnTrying!

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #20 on: July 10, 2016, 10:09:45 AM »
I would suggest you sell to USA only .... or at the very least screen your international buyers very carefully as previously reported here... I did not follow my own advise once and it cost me close to $1000  feedback matters!  check you buyers feedback it is easy to spot a less than desirable buyer .....  pay a little extra shipping (insurance) to protect yourself   anything over $275   get a signature confirmation

Thanks for suggestions. I shall restrict my market to the USA. Life is already complex without adding the variables and vicissitudes of international transactions. I am also thinking of using Paypal only.
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Offline jwa1inv

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #21 on: July 10, 2016, 04:45:04 PM »
I only use Paypal for EBay transactions as therocket. I like their record keeping.
Using their invoices for off EBay deals is excellent, too, as buyer
protections come with those deals provided you follow their guidelines.

You might want to look into EBay TurboLister 2 software to keep
a database of your listings ready to go. It enables you to update
listings edited offline to EBay or update them all at once or synchronize your
Turbo Lister 2 records with the changes you made to your listings on EBay online.
I have not used this software lately but found Turbo Lister quite helpful in the past.
I feared that I would soon have to rewrite a bunch of my old EBay listings
until I realized that I had them in Turbo Lister 2. I have been goofing off
lately but may list more later this year and plan to use the software much more.
Unsold listings are held on EBay itself, but not for very long.

Best of Luck with EBay/Paypal!
They take their cut, but can be worth it at times.

Offline KeepOnTrying!

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #22 on: July 10, 2016, 08:27:12 PM »
Thanks jwa1inv.
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Offline silverpv

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #23 on: July 10, 2016, 09:01:45 PM »
If my math isn't incorrect though - at 6% fees instead of 10% fees it should be a bit more than $600 in sales to save money if your subscription is $25/month. It also appears that the prices differ depending on which country you reside in.

You are correct. They recently increased the price for month to month.

Offline KeyDate1/2ozPandas

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #24 on: July 11, 2016, 04:19:57 AM »
I had yearly contract for the store at $16/month, didn't list anything for the last 12 months so I cancelled the store, now ebay send me all kinds of incentives to list at reduced final value fees.  The current promotion is $1 final value fees for the first 5 items sold, others include $50 to $100 cap on final value fees.  I would recommend you get a store for a month or two and then cancel it and wait for a promotion, then list your items.

I listed 24 items today in under 1 hour, the new listing page is very easy to use and allows you to crop pictures. 

Offline Honus

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #25 on: July 11, 2016, 05:15:49 PM »
I know it's been covered before, but maybe it bears repeating from time to time...  If you want to broaden your market and reach international buyers, don't be afraid to require bank wire transfers.   Reputable buyers - meaning buyers who have been around the block, and who are working with some affluence - are more than comfortable using bank transfer.  In our own business (we sell jewelry, average transaction around $1500) we now receive $4 in bank wires & cashier's checks for every $1 we receive via PayPal or credit cards - this crossover, where "old school" methods of payment eclipse PP/CC - happened for us back in 2013 and it's been that way ever since.   We do give a 2% discount for cash, but otherwise we don't push bank wires on our customers - we give them the option, and more and more are abandoning the use of PayPal and Credit Cards.   I would never have predicted this, and I'm still often shocked at the ratio, but it's happening.   Point is, don't be afraid to ask for bank wires - if you're dealing with the "right" buyers, the kind of buyers you want to build a small online business around, they'll be more than happy to work that way. 

Of course, as everyone is very well aware, several excellent members of this forum have built successful online businesses using only old-school payment methods so I'm not telling you guys anything you don't already know.  But it may still surprise some people, because it has surprised me, that plenty of buyers are happy to transact without PayPal being part of the process as long as the trust is there.
Eric Liquori
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www.anvilfinewares.com

Offline jwa1inv

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #26 on: July 11, 2016, 06:26:58 PM »
I had yearly contract for the store at $16/month, didn't list anything for the last 12 months so I cancelled the store, now ebay send me all kinds of incentives to list at reduced final value fees.  The current promotion is $1 final value fees for the first 5 items sold, others include $50 to $100 cap on final value fees.  I would recommend you get a store for a month or two and then cancel it and wait for a promotion, then list your items.

I listed 24 items today in under 1 hour, the new listing page is very easy to use and allows you to crop pictures. 

I have encountered similar incentives to those before when I cancelled my store. The increase to $25 per month subscription makes another store cancellation
pretty attractive. Good idea!

Offline KeepOnTrying!

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Re: TUTORIAL: How to avoid being a bad SELLER
« Reply #27 on: July 11, 2016, 10:21:55 PM »
I know it's been covered before, but maybe it bears repeating from time to time...  If you want to broaden your market and reach international buyers, don't be afraid to require bank wire transfers.   Reputable buyers - meaning buyers who have been around the block, and who are working with some affluence - are more than comfortable using bank transfer.  In our own business (we sell jewelry, average transaction around $1500) we now receive $4 in bank wires & cashier's checks for every $1 we receive via PayPal or credit cards - this crossover, where "old school" methods of payment eclipse PP/CC - happened for us back in 2013 and it's been that way ever since.   We do give a 2% discount for cash, but otherwise we don't push bank wires on our customers - we give them the option, and more and more are abandoning the use of PayPal and Credit Cards.   I would never have predicted this, and I'm still often shocked at the ratio, but it's happening.   Point is, don't be afraid to ask for bank wires - if you're dealing with the "right" buyers, the kind of buyers you want to build a small online business around, they'll be more than happy to work that way. 

Of course, as everyone is very well aware, several excellent members of this forum have built successful online businesses using only old-school payment methods so I'm not telling you guys anything you don't already know.  But it may still surprise some people, because it has surprised me, that plenty of buyers are happy to transact without PayPal being part of the process as long as the trust is there.

Thanks for that great contribution. I will start off with PayPal but if I continue for more than a few months other payment options you highlighted could come into use. I have certainly paid for coins by check several times now and never had a problem.

Best wishes.
KeepOnTrying and Never Give Up!
That lion is also after you!