Recently, a friend inquired about to help her brother sell his collection on Lladro glass figurines on eBay. They are expensive glass collectibles and i also knew nothing about them – but I do not have to. The principles for selling expensive collectibles on eBay are similar, regardless of what is being sold.
Obviously, like any eBay auction, the seller must have a strong listing with great pictures. This really is always true regardless of what the items are. Expensive collectibles offer splendid opportunities, but additionally need special precautions.
1. Price: decide the lowest amount you will accept for each and every figurine and set that price as a reserve. Make your opening bid absurdly low – yes, absurdly.
Example: if you’ll accept $1,000 – make your opening bid $25. There isn’t any risk in this, as you don’t have to sell unless the bidding reaches $1000, but the low price attracts buyers, (assuming there is certainly demand, of course).
Taking a look at completed eBay auctions enables us to track prices, Repeatedly we learn that starting the purchase price in which the seller hopes it’ll end is not a wise tactic.
As an example, a seller wants to get $750 for his figurine. A dent bid of $750 won’t attract nearly as many buyers as an opening bid of $25 and – surprisingly – the lower bid more often than not gets higher prices. There’s some psychology at the office using the cheap price. May possibly not make logical sense, but it’s the fact of life on eBay.
2. Devote space in your auction listing explaining the method that you will pack your item to ensure safe transit. That is essential because within the back of every buyer’s thoughts are the dread of getting a package that rattles. A collectibles buyer will finally be thinking of the hassle she’ll have to proceed through – and the possible loss of purchase price – if her item is broken. She needs to know that the seller has carefully considered this matter and contains an answer.
3. For the protection of both of you, insist that the client purchase appropriate insurance. Don’t allow this to be a choice. You certainly do not want the liability of a broken collectible that costs hundreds of dollars. In fact, if an individual objects to spending money on insurance, this could come to be a warning sign. An authentic collector is extremely eager to add to her collection and wants her figurine to be protected.
4. We are able to safely assume that every Internet buyer has heard stories of fraud on eBay and elsewhere online. Therefore, anything you are capable of doing to prove the authenticity of your collectible is worth your time. Will there be a marking on the bottom? Have you got the first box or another container? Is there a label? Will there be certificates of authenticity or an appraisal with a respected organization? If the solution to any of these is “yes”, then be certain to emphasize your authenticity in your auction. Capturing of your proof is particularly effective.
5. I can’t suggest offering a warranty except inside the most general way – that is, you, the seller, are being truthful about the product. Anyone bidding over a collectible is knowledgeable and so they are fully aware what they’re buying so there should be no reason for coming back. If someone expresses dissatisfaction and mails your merchandise back, there’s every likelihood of it being broken. You don’t want the trouble of trying to collect on broken merchandise or putting yourself right into a litigious situation with someone who refuses to believe that the collectible was broken via return shipping.
Also, you do not need to take a loss of profits on your eBay fees, that will be substantial if the price is high.
6. With a really expensive item, always offer the choice of an escrow service – on the buyer’s expense, of course. They could not take want this particular service, but make certain they have the choice. You, of course, know that your items are legitimate, nevertheless the buyer isn’t so certain. eBay recommends an escrow service that can be acquired to all members.
7. If you’re willing to ship worldwide, you will need to take special steps to protect yourself. In the usa we’ve AVS (Address Verification System) that offers some protection. An extremely large portion of the fraud suffered by buyers occurs away from Usa and you’re simply justified in protecting yourself. Losing buying price over a $5 item isn’t such a problem – but a $1,000 collectible absolutely does matter.
Your bank can counsel you around the time it will take to verify foreign funds. Be certain to let any prospective buyer know in your auction that you will see a delay if they are outside of your country. Don’t let your merchandise out of your hands unless you are sure!
If you follow these ‘rules’, the possibilities of selling your expensive collectibles at the maximum prices is going to be greatly increased.
Alvaro Medez is currently writing interesting content articles related to different topics including articles on auctions
