Crazy Buyers!
Published by Larry on Tagged Selling Detector Finds
I am flabbergasted, astonished, amazed and just cannot believe the prices people will pay for coins and metal detecting equipment on Ebay. I love the Ebay marketplace and this article is not critical of the program or process. It is beyond my understanding that people will pay three or four times the original price of items that are offered routinely on Ebay.
Last night I checked out the outcome of a 14 inch Garrett search coil, for a vintage late 1970′s VLF Deepseeker unit, that was listed at $5.95 and shipping. I have a couple of these detectors with multiple coils and just last week purchased an identical coil (on Ebay) for approximately $30. I was the first bidder on this new listing and no one else placed a bid for more than four days of the six day listing. Six hours before it closed the bid was only $10.50 and it progressed to over $72.00 with less than ten minutes remaining. Then a bidder placed a bid for $400.00 and another behind him at $405. This coil (brand new) sold for less than $150.00 and commanded a selling price of over $400.00 on this auction. Remember, I purchased one last week for $30.
I will gladly take $405.00 for the vintage coil, two other coils and the great metal detector that goes with it. In fact, I have a 1985 up-grade Master 7 Deepseeker with target ID and three coils (11, 8, 4 inches) on this blog with a buy now option of $210.
Last week someone paid $450.00 for the Garrett Deepseeker VLF vintage detector on ebay with just an eight inch coil. A late 70′s detector that sold for $499.00 is pulling nearly the original price. This is not just the vintage Garrett detectors that are bringing big prices, but the Fisher 1265 & 1266, White’s 5900 & 6000 DI’s as well as vintage Bounty Hunter Barons and Compass Coin Scanners. A year ago these same detectors could be purchased at much lower prices.
A similar trend is taking place in coins being sold, but what amazes me most is the fact that a metal detector coin find will frequently bring higher bids than same type non-dug items. Common date Indian Head Cents are bringing four dollars plus shipping. Coins that can be purchased from coin dealers for about a buck. One seller lists three or four dug Spanish coppers with a reserved price of about ten dollars. That would be a fair market price for the coins but bidding frequently moves the coins at about $22-25 per set.
One hundred dug wheat cents obtained a seller more than $13.00 and $3.95 shipping. Seventeen cents per penny for common date dug Wheaties is almost unbelievable. I have over 20,000 of these coins and at this price two hundred dollars worth of copper pennies would bring more than a two thousand dollar profit on Ebay.
Buyers do not appear to be very savvy about metal detector and coin values or just maybe they are “crazy ” buyers and money comes too easy. It appears to be an excellent time to sell quality used and vintage metal detectors and coin finds made with them. Go Ebay!
June 26th, 2008 at 11:51 am
Interesting perspective on EBAY Larry.
I’m a bit of an EBAY addict and have observed two types of buying types. First there’s the folks who know what they want, research and have an idea of what they will spend for it. They will often watch many items, bidding along the way and have the trait called PATIENCE…that is – they don’t need it right now and can pass on an item when it reaches beyond their price range. They simply look for a similar, lower cost item and begin again.
Then there’s the large group of EBAYers without this PATIENCE. Those who want it RIGHT NOW at all cost!!! And many of them get hooked into the tennis-match bidding war. As prices escalate into the stratosphere, maybe it even becomes personal for them to claim that item today. They’re fun to watch of course, and make great customers too. ($) I also believe the money doesn’t seem real to people since they never have to reach into the wallet for it. The digital aspect of PayPal removes them a bit from the actual value equation. They lose a bit of common sense or frugality.
The world has never seen anything like EBAY before, people can at last sit back in their underwear on their couches and seemingly attend an auction at Christies or browse a garage sale around the world.
Dan
June 26th, 2008 at 1:38 pm
Thanks Dan for sharing your insight. I would like your permission to add your thoughts to an article I am doing for a couple article directories. Will give proper credit for your insight.
Larry
June 28th, 2008 at 11:57 am
Thanks & sure thing Larry.
And please put me in your monthly drawing.
September 29th, 2011 at 8:42 am
And hear i thiught i was giong crazy..about E-Bay prices….u hit the nail squar….but i still love browsing the metal detectors.thanks again for your insight