7 Tips for Selling Expensive Collectibles On eBay
by: Sydney Johnston
Recently, a friend asked me to help
her brother sell his collection on Lladro glass figurines on eBay.
These are expensive glass collectibles and I knew nothing about them
- but I don't have to. The principles for selling expensive
collectibles on eBay are the same, regardless of what is being sold.
Obviously, like any eBay auction, the seller must have a powerful
listing with great pictures. This is always true regardless of what
the merchandise is. Expensive collectibles offer splendid
opportunities, but also need special precautions.
1. Price: decide the lowest amount you will accept for each figurine
and set that price as a reserve. Then make your opening bid absurdly
low - yes, absurdly.
Example: if you will accept $1,000 - make your opening bid $25.
There is no risk in this, because you don't have to sell unless the
bidding reaches $1000, but the low price attracts buyers, (assuming
there is demand, of course).
Looking at completed eBay auctions allows us to track prices, Again
and again we learn that starting the price where the seller hopes it
will end is not a wise tactic.
For instance, a seller wants to get $750 for his figurine. An
opening bid of $750 won't attract nearly as many buyers as an
opening bid of $25 and - surprisingly - the lower bid almost always
gets higher prices. There is some psychology at work with the cheap
price. It may not make logical sense, but it's the reality of life
on eBay.
2. Devote space in your auction listing explaining how you will pack
your item to ensure safe transit. This is critically important
because in the back of every buyer's mind is the dread of receiving
a package that rattles. A collectibles buyer will inevitably be
thinking of the hassle she will have to go through - and the
possible loss of purchase price - if her item is broken. She needs
to know that the seller has carefully considered this issue and has
a solution.
3. For the protection of both of you, insist that the buyer pay for
appropriate insurance. Don't allow this to be an option. You
definitely do not want the liability of a broken collectible that
costs hundreds of dollars. In fact, if a customer objects to paying
for insurance, this might possibly be a red flag. A genuine
collector is very eager to add to her collection and wants her
figurine to be protected.
4. We can safely assume that every Internet buyer has heard stories
of fraud on eBay and elsewhere on the Net. Therefore, anything you
can do to prove the authenticity of your collectible is well worth
your time. Is there a marking on the bottom? Do you have the
original box or other container? Does it have a label? Is there a
certificate of authenticity or an appraisal by a respected
organization? If the answer to any of these is "yes", then be
certain to emphasize your authenticity in your auction. Taking
pictures of your proof is especially effective.
5. I don't suggest offering a guarantee except in the most general
way - that is, you, the seller, are telling the truth about the
product. Anyone bidding on a collectible is knowledgeable and
therefore they know what they're buying so there should be no reason
for a return. If someone expresses dissatisfaction and mails your
merchandise back, there is every likelihood of it being broken. You
do not want the hassle of trying to collect on broken merchandise or
putting yourself into a litigious situation with someone who refuses
to believe that the collectible was broken via return shipping.
Also, you don't want to take a loss on your eBay fees, which might
be substantial if the price is high.
6. With a really expensive item, always offer the option of an
escrow service - at the buyer's expense, of course. They may not
take want this service, but make certain they have the option. You,
of course, know that your merchandise is legitimate, but the buyer
isn't so certain. eBay recommends an escrow service that is
available to all members.
7. If you're willing to ship worldwide, you need to take special
steps to protect yourself. In the US we have AVS (Address
Verification System) which offers some protection. A very large
portion of the fraud suffered by buyers occurs outside the United
States and you are justified in protecting yourself. Losing the
purchase price on a $5 item isn't such a big deal - but a $1,000
collectible absolutely does matter.
Your bank can advise you on the time it will take to verify foreign
funds. Be certain to let any prospective buyer know in your auction
that there will be a delay if they are outside of your country. Do
not let your merchandise out of your hands until you are sure!
If you follow these 'rules', the chances of selling your expensive
collectibles at the highest possible prices will be greatly
increased.
About the author:
Learn how to sell on eBay with 16 hours of online instruction taught
by a 10 year eBay veteran. Own an eBay business instead of an eBay
hobby.
http://auction-genius-course.com
Circulated by Bandoni Media
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