Wednesday, February 27, 2013
DO YOU GET 'FAIR MARKET' PRICES WHEN SELLING WITH AN ONLINE AUCTION SERVICE?
Over the years I have had many clients come in with their items, wanting to sell their old watches or jewels and always wondering how they could get the best price for them. It is somewhat confusing for them, especially with all the TV and radio ads for gold buyers recently especially since the price has climbed substantially. The options, in my opinion are simple. It's all about 'time'. That is the most important factor in the equation. If you have an item that you 'have' to sell right away you will end up selling for the lowest price. It may be the highest offer you have had between dealers but it will be much lower than what you could get if you had more 'time' to sell. I often suggest internet auctions such as 'eBay' to clients that come in with either signed pieces of jewellery or timepieces. Just recently we had an amazing result on eBay for one of my clients. The auction was for a very nice 14k gold Waltham pocket watch. The market for pocket watches is slow and therefore dealers are very hesitant to offer anything more than roughly 80% of it's gold value (after deductions for the movement etc.). In this case it would have been approximately $600-. When my client came in I suggested 'eBay'. We agreed on a starting price of $999- and I listed the watch. The auction ended and the watch ended up selling for over $2,000- with tons of interest. This is one of those instances where a little 'time' = a lot of 'money', literally!
Internet auctions have proved to be a reliable and effective way of selling certain items, as long as they are listed for sale by a dealer who has a good track record with eBay and where the bidders are confident in the description by the seller. Very important!
Get in touch with me and make an appointment to bring your old unwanted jewels or watches and lets have some fun on eBay!
For more information: 416-434-0499 or firstname.lastname@example.org