Thinking about starting auctions at $5 instead of $.99

[Joe Sermarini]

I am thinking about changing the starting price to $5.  Too many lots are not getting prices that are reasonable for the consignors and I think a higher start might help. 

[Jay GT4]

I think that's a good idea. 

[Curtis JJ]

Speaking against my own interests, I would've definitely bid $5 for this Chalkis Chalkous that I just got for $0.99.

(With the BCD tag! Ex "Mid-90s Central Greece" -- apparently a hoard, based on other tags of coins with the same patina.) Not the most attractive coin, but most of these ones look like this, it fits my collection, and the reverse is actually not bad in hand.

I felt rather guilty buying it for that price. For $5 I would bid on literally any number of these that exist. If I wasn't there, I guess it'd have gone unsold. But that's probably true at either starting price.

[Joe Sermarini]

I paid $13 for that Chalkis coin.

[Ken W2]

Sometimes I'm AWOL for a while, so maybe I just didn't see, but it seems these auctions were fairly recently resumed ?  I noticed them several weeks back and check regularly now.  I think it would be entirely reasonable for the min. bid to be $ 5.00.  Of course, you'd like to make money on every or most sales, but wnen that's not possible you should at least be able to defray your costs somewhat.  After all, those of us buying ancient coins aren't making a choice between that and buying food or another necessity-- if I really wanted a coin it would't matter the slightest to me whether I bought it for 99 cents or $5. Heck Joe, you can't even buy auctioned lots of decent uncleaneds anymore for 99 cents each and haven't been able to for a long time.       

[Virgil H]

I would be completely behind the move to $5.00. I haven't tried any coins on Member's Auction since my first one because $0.99 is just too low. As a seller, I would actually like the option to start higher if the seller wants. Worst case is no one bids. The one coin I have sold there was a disappointment and I haven't tried again. I realized that I would rather have kept the coin than sell it at that low a price. I do realize that auctions are risky for sellers, especially with low starting prices. And this can depend on many factors, I get that. But, when I sell on EBay, I set minimum starting prices. Note I haven't tried selling coins on EBay at all, I am talking other things from time to time. I am done selling stuff for $0.01 or actually anything under $5.00 plus shipping. We have had this discussion about books. If I can't get at least $5.00, I just won't bother. I need a minimum or it isn't even worth my time.

Thanks for considering this feedback.

Virgil

[Virgil H]

I realize I didn't really finish my thoughts. My previous post was more as a seller. Yet, I am usually a buyer at the Member's Auction and my answer is the same. I have rarely gotten a coin there for less than $5.00, but I think I got one very recently for $5.49 and maybe once I got one for $3.49 IIRC. Anyway, I would have bid $5.00 for those and every other coin I have bought there. If I won't do that, I wouldn't bid at all and there are plenty I never bid on, as with any auction. I do feel I have gotten some real bargains from Member's Auctions and have actually felt sorry for the seller at times as I felt sorry for myself with my one attempt at selling there. LOL. Most auction houses have minimum bids, some too high resulting in an unsold, but it at least it doesn't make a seller actually lose money. What I really hate is when I lose money on an EBay auction if I screw up on postage or don't properly calculate packaging costs because margins are so insane and their fees so high. That is one thing that is so nice about Member's Auction for both buyer and seller as it is a service Forum provides and I, for one, appreciates the lack of buyer's fees, etc.

Virgil

[Bill W4]

$5 seems reasonable.  If a coin is worth less than that, it belongs in the give away bin.  Can't even buy a candy bar for $.99.

[Molinari]

I am thinking about changing the starting price to $5.  Too many lots are not getting prices that are reasonable for the consignors and I think a higher start might help.

That is one of the main reasons I’ve never listed here. I would certainly reconsider if the start were $5.