Author Topic: New eBay fee structure - coin selling fees going higher  (Read 8170 times)

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Offline Honus

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New eBay fee structure - coin selling fees going higher
« on: March 19, 2013, 12:17:40 PM »
I hope this isn't the wrong place to post this thread.  I just received notice from eBay about the new Spring 2013 Seller release, in which they're updating many different policies and their fee structure.  Just speaking in terms of what's relevant to this forum, the flat-rate final value fee for coins will now be 9%.   So, for example, a $2000 gold panda that currently costs a seller $82.70 in Final Value Fees will cost $180 in Final Value Fees starting May 1.  This is a huge increase, and I'm sure most sellers won't eat the fees, they'll have to raise their eBay prices to account for the increase (that's what we're going to have to do on all of our 18K jewelry and timepiece listings).  Fortunately, we've transitioned much of our business to our own website, and I know many of the larger dealers here on the forum have done the same.  But I'd like to get the reactions of other forum members, who are also non-casual eBay sellers, about how they see this impacting their eBay coin business.
Eric Liquori
Anvil Fine Wares
www.anvilfinewares.com

Offline Russ 736

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Re: New eBay fee structure - coin selling fees going higher
« Reply #1 on: March 19, 2013, 12:45:00 PM »
I am not a huge Ebay seller but I won't be selling any higher valued coins on Ebay after May 1. It will also effect any purchases I make as the sellers will have to raise prices to offset the additional selling costs. I don't think anyone has mentioned this but our friends at NGC are adjusting their pricing on April 1 too.

Russ

Offline Panda Halves

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Re: New eBay fee structure - coin selling fees going higher
« Reply #2 on: March 19, 2013, 01:04:20 PM »
CCF Auctions and Buy/Sell are still free.
PH

Offline Birdman

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Re: New eBay fee structure - coin selling fees going higher
« Reply #3 on: March 19, 2013, 01:08:32 PM »
I hope this isn't the wrong place to post this thread.  I just received notice from eBay about the new Spring 2013 Seller release, in which they're updating many different policies and their fee structure.  Just speaking in terms of what's relevant to this forum, the flat-rate final value fee for coins will now be 9%.   So, for example, a $2000 gold panda that currently costs a seller $82.70 in Final Value Fees will cost $180 in Final Value Fees starting May 1.  This is a huge increase, and I'm sure most sellers won't eat the fees, they'll have to raise their eBay prices to account for the increase (that's what we're going to have to do on all of our 18K jewelry and timepiece listings).  Fortunately, we've transitioned much of our business to our own website, and I know many of the larger dealers here on the forum have done the same.  But I'd like to get the reactions of other forum members, who are also non-casual eBay sellers, about how they see this impacting their eBay coin business.

Wow, I hadn't crunched the numbers.  That is significant.  As an occasional seller on eBay, I will keep this in mind.  It will definitely affect the math on whether it makes sense to sell on eBay versus on the Chinese Coin Forum or directly to a dealer.

Offline Honus

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Re: New eBay fee structure - coin selling fees going higher
« Reply #4 on: March 19, 2013, 01:54:11 PM »
Here's a link to eBay's own fee calculator, which they've updated so that you can see how much fees are now, and how much they will be after May 1.  

http://pages.ebay.com/sellerinformation/news/Feecalculator.html#

As you'll see, the fees change dramatically for items $1000 and over, less so for items under $1000.   For those sellers who focus on 1/10 or 1/20 coins, or silvers, the increase may not hurt so much.
Eric Liquori
Anvil Fine Wares
www.anvilfinewares.com

Offline GDG's

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Re: New eBay fee structure - coin selling fees going higher
« Reply #5 on: March 19, 2013, 02:03:37 PM »
Between ebay and their paypal fees you get slaughtered. They've already cornered everyone into offering free shipping too.

Right now they do reach a much greater buyer/seller base then elsewhere. Auction houses have been doing this for years and they're

still in business. There needs to be greater competition to get prices lower not higher. I almost always buy directly from dealers I

know and trust.

Offline Honus

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Re: New eBay fee structure - coin selling fees going higher
« Reply #6 on: March 19, 2013, 02:12:51 PM »
Between ebay and their paypal fees you get slaughtered. They've already cornered everyone into offering free shipping too.

Right now they do reach a much greater buyer/seller base then elsewhere. Auction houses have been doing this for years and they're

still in business. There needs to be greater competition to get prices lower not higher. I almost always buy directly from dealers I

know and trust.

I think I'll probably work to create a new section on our website for the coins I sell, and sell my coins directly rather than through eBay.    I'd been thinking about it anyway, but this fee change will probably force it. 
Eric Liquori
Anvil Fine Wares
www.anvilfinewares.com

Offline GDG's

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Re: New eBay fee structure - coin selling fees going higher
« Reply #7 on: March 19, 2013, 02:22:19 PM »
I think I'll probably work to create a new section on our website for the coins I sell, and sell my coins directly rather than through eBay.    I'd been thinking about it anyway, but this fee change will probably force it. 

I'm with you Honus. There is only so much you can squeeze out of a collector who tries to hone his collection with a few sales or a small dealer.

Well deserved applaud for bringing this up. :thumbup: :thumbup: :thumbup: :thumbup:

Offline silverstar1

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Re: New eBay fee structure - coin selling fees going higher
« Reply #8 on: March 19, 2013, 02:54:00 PM »
Thanks for the info, it seems ebay news is always bad news, this time bad for both buyers and sellers. Hopefully someday there will be some competition but for now there is really nothing else that draws such a large base of people.

Offline Honus

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Re: New eBay fee structure - coin selling fees going higher
« Reply #9 on: March 19, 2013, 03:03:09 PM »
Thanks GDG  ;)

And you said it Silvertstar1...if you think the math is bad in the coin category, you should see how much the fees are increasing for watches and jewelry.   For example, on a $2000 pre-owned Breitling watch, the current Final Value Fee for a pure auction would be $61.85.   As of May 1, that same exact $2000 watch will have a Final Value Fee of $180.   That's almost a 200% increase.   For many large jewelry and watch dealers on eBay, this is nightmare-news.   
Eric Liquori
Anvil Fine Wares
www.anvilfinewares.com

Offline ghostrider80811

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Re: New eBay fee structure - coin selling fees going higher
« Reply #10 on: March 19, 2013, 06:16:21 PM »
I hate the eBay pricing structure but love the buyer protection.  Will this effect my sales?  Hell yes!  I will think long, hard, and exhaust other buying/selling avenues before I ever put expensive things on eBay.  One solution to this could be bitcoins.  Im still reading up on bitcoins but it does seem controversial and promising at the same time if that made any sense?  There's an option to use an independent escrow (buyer and seller protection) and there's a hedging  option in order to lock in current currency rates since rates seem to fluctuate wildly sometimes.  There are definitely pros and cons to this.  Maybe someone on this board can chime in with more experience.  The only big downside I see as someone here mentioned is the customer base of eBay.  This has the potential to save us all a boat load of money on fees and remain anonymous.  From what I have read bitcoin uses the same crypto tech as major banks and originally developed by the US Navy.  I would always put coins on CCF any day before posting on eBay.  Does anyone know of other good eBay competitors out there? Furthermore, if someone is tech savvy one may be able to make an auction site specifically for MCC? Then again a cost/benefit analysis should be done along with more research. 

Offline KeyDate1/2ozPandas

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Re: New eBay fee structure - coin selling fees going higher
« Reply #11 on: March 19, 2013, 06:44:24 PM »
EBay and Paypal are too high for me to sell on there now, after the increase forget about it.  The only fee reduction is for non-store holders with fixed priced items priced over $10,350 or store holders with auction priced items over $11,400, for which the new fee will be capped at $250.  So unless you are selling very expensive items you fees are going up big time.  Also keep in mind if you sell more than $10,000/month using paypal, they will place a reserve requirement of 6%-10% of your daily volume and hold it for 90 days, so effectively with eBay fee (9%), paypal fee (4% for international), paypal reserve (10%) and shipping fee+insurance (1%-2%) you are at almost 25% in fees and holdbacks, vs 0% if you sell to known collectors, investors and dealers.  This will make it very difficult for new collectors to buy at reasonable prices because most inventory will be sold among existing relationships at fair prices, while only overpriced merchandise will be found on eBay.     

Arif

Offline GDG's

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Re: New eBay fee structure - coin selling fees going higher
« Reply #12 on: March 19, 2013, 07:53:14 PM »
One thing good about ebay is the Auction venue of selling. A Buy it Now may turn people off and remain unsold. If one wants to roll the dice a true Auction, even with a fair reserve, will sometimes show a very good results. Of course the problem remains the vigorish. I have listed coins here that never had a nibble and sold on ebay for a good price. So there will remain pros and cons but another viable venue to sell P.M. coins besides ebay would do wonders for the entire numismatic field.

Offline Gilmore

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Re: New eBay fee structure - coin selling fees going higher
« Reply #13 on: March 19, 2013, 09:15:05 PM »
Here's a link to eBay's own fee calculator, which they've updated so that you can see how much fees are now, and how much they will be after May 1. 

http://pages.ebay.com/sellerinformation/news/Feecalculator.html#


From the link above:
"New standard fees will be effective April 16 and new fees for Stores subscriptions will be effective May 1"


Offline Honus

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Re: New eBay fee structure - coin selling fees going higher
« Reply #14 on: March 19, 2013, 09:39:35 PM »
From the link above:
"New standard fees will be effective April 16 and new fees for Stores subscriptions will be effective May 1"



Yes, thanks for the clarification Gilmore.  I assumed - and this may not always be the case - that sellers that do any kind of volume would have a store subscription, at even the Basic Store level (that's what we have).  But as you've pointed out, for those people who sell casually and don't use an eBay store, their fees kick in even sooner.  Thanks for that.
Eric Liquori
Anvil Fine Wares
www.anvilfinewares.com