|
|
Home | Submit Press Release | Advertise | Submit Website
(EMAILWIRE.COM, May 14, 2013 ) San Francisco, CA -- Within the last handful of years, online auctions by companies like Heritage, Teletrade, and Great Collections were considered the standard bearers for internet purchases. However, in the even more recent history of the endeavor, collectors are shopping not only on hubs like eBay , but finding their ways to small estate auctions smaller portals like Proxibid, iCollector, and AuctionZip.
Quite often, the smaller auctions lack a general detailed information section for the value and standard of the pieces, in contrast to larger companies like eBay.
Apparently, that is actually playing to the favor of sellers. Teletrade shares its recent prices for each of their coins, as well as discloses the price guide values and the general population number. When those generalized numbers are not shared, collectors are more likely to overpay for coins that are found on the smaller companies.
In a test of the phenomenon, one customer purchased 13 GSA Morgan Carson City dollars in a Proxibid. The customer paid for $4,676 for 1881-CC GSA, Seven 1883-CC GSA, and a pair of 1884-CC GSA.
The coins were then sold at a slight overgrading, with the predicted retail around $5,700 on a smaller venue. However, lower PCGS grades due to higher information brought the retail down to $5,094, and when slabbing fees were added to the sales, the profit margin dropped down to $100 in total.
Teletrade does not utilize seller fees, However, it does add a 17.5% buyer's premium that is nearly equal to Manor Auctions 18%. Thus, the tally on the coins were able to gain $4,321 all told at Teletrade. That meant that those buyers were able to take the coins for $355 less than the initial payments for the same coins. Furthermore, the customers share ended up being a mere $3,675 in the end.
While anecdotal studies can be dubious, the basic understanding of how larger and smaller auction areas work, plus the concept of more/less information holds true to common concepts. The more information, the more regulated the price, and less likely one is to overextend.
About Bid-Ninja.com
Bid-Ninja (http://bid-ninja.com/) provides the best in bidding software. Stay ahead of the curve, learn How to Win on Quibids and attain the items you want at the prices you want, today.
Bid-Ninja
Customer Service
4157669098
Support@Bid-Ninja.com 
Source: EmailWire.com
|
|
