Recently, a friend asked me to help her brother sell his collection on Lladro glass figurines on eBay. They are expensive glass collectibles and that i knew nothing about them – but I don’t have to. The principles for selling expensive collectibles on eBay are identical, regardless of what’s offered.
Obviously, like any eBay auction, the seller should have an effective listing with great pictures. This really is always true regardless of exactly what the merchandise is. Expensive collectibles offer splendid opportunities, but also need special precautions.
1. Price: decide the cheapest amount you will accept for each figurine and hang up that price as a reserve. And then make your opening bid absurdly low – yes, absurdly.
Example: if you may accept $1,000 – make your opening bid $25. There isn’t any risk within this, because you don’t have to sell unless the bidding reaches $1000, nevertheless the good deal attracts buyers, (assuming there is demand, of course).
Considering completed eBay auctions enables us to track prices, Again and again we learn that starting the cost the location where the seller hopes it will end is not a wise tactic.
For 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 low bid almost always gets higher prices. There is some psychology at the job with all the cheap price. It might not make logical sense, but it’s the reality of life on eBay.
2. Devote space in your auction listing explaining the way you will pack your item to ensure safe transit. This is critically important because within the back of every buyer’s mind is the dread of finding a package that rattles. A collectibles buyer will finally be thinking of the trouble she’ll have to undergo – and also the possible loss of cost – if her item is broken. She needs to know that the seller has taken into consideration this matter and contains a remedy.
3. For your protection of both of you, insist that the buyer purchase appropriate insurance. Don’t allow this to be an alternative. You actually don’t need the liability of a broken collectible that costs hundreds of dollars. In fact, if a customer objects to spending money on insurance, this might often be a warning sign. An authentic collector is very eager to add to her collection and wants her figurine to be protected.
4. We could safely assume that every Internet buyer has heard stories of fraud on eBay and elsewhere online. Therefore, whatever you can do to prove the authenticity of your collectible is well worth your time. Is there a marking on the bottom? Are you experiencing the first box or other container? Is there a label? Will there be a piece of paper of authenticity or an appraisal by a respected organization? If a better solution to any of these is “yes”, then be sure to emphasize your authenticity in your auction. Taking pictures of your proof is especially effective.
5. I don’t suggest offering an assurance except in the most general way – that is, you, the owner, are telling the truth about the product. Anyone bidding over a collectible knows and therefore they are fully aware what they are buying so there shouldn’t be reason behind coming back. If someone expresses dissatisfaction and mails your merchandise back, there is certainly every likelihood of it being broken. You do not want the trouble 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 do not need to take a loss on your eBay fees, that will be substantial if the purchase price is high.
6. Having a really expensive item, always offer the choice of an escrow service – in the buyer’s expense, of course. They could not take want a reverse phone lookup, but make certain they’ve got the choice. You, of course, know that your merchandise is legitimate, however 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 need to take special steps to protect yourself. In the usa we’ve AVS (Address Verification System) which offers some protection. An extremely large portion of the fraud suffered by buyers occurs outside the Usa and you are justified in protecting yourself. Losing the acquisition price on a $5 item isn’t this type of problem – but a $1,000 collectible absolutely does matter.
Your bank can help you about the time that it will take to verify foreign funds. Make sure to let any prospective buyer know in your auction that you will see a delay if they’re outside of your country. Do not allow your merchandise out of your hands until you are sure!
If you follow these ‘rules’, the probabilities of selling your expensive collectibles at the maximum prices will be greatly increased.
Alvaro Medez produces interesting articles dealing with various topics which include auctions articles
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