Education on Comic Collecting: Auction Site Buying and Selling Best Practices

[sterlingcomics]

OK, so I think we have some of the major topics covered. Refer to the Education on Comic Collecting: Topics thread for more information. Again, this thread is dedicated at capturing the information and expertise of this community as it pertains to information perceived as important to most collectors.

 

This topic: Auction Buying and Selling Best Practices.

 

I personally think there is a TON of information shared on these boards on a daily basis...and can cover a range of information. Let's use this thread to discuss best practices as it pertains to buying and selling comics via auction sites. This is the easiest thread to start from the series, which will probably have lots of information.

 

Possible Topics

 

Selling

• Gaining trust in the community
  
• How to use auction features effectively
  
• Handling customer requests effectively
  
• Shipping charges

Buying

• Making the assessment
  
• Expectations of grading
  
• Bidding Best Practices
  
• Knowing your seller
  
• Recognizing auction RED FLAGS

Have at it!

[tth2]

This feels like deja vu all over again, but here goes:

 

Sunday's usually the best night to end an eBay auction. Unless the Sunday falls during a long weekend. The auction ending time should be late enough so that it's also night, and not just evening, for the west coast crowd. Remember that if you end an auction at 9 pm EST, that's only 6 pm PST, so you might miss some potential west coast bidders who haven't gotten home yet.

[sterlingcomics]

Sorry for the repeat...it will be easier to sift through information if it is localized in one thread...

 

Auction RED FLAGS

• Seller has private feedback
  
• Seller is selling comics for a third party.
  
• Seller gets defensive for reasonable requests for additional information.
  
• Mystery box auctions or unclear contents of mass number of comics
  
• No return policies

Others?

[sterlingcomics]

Buying: Making the assessment

• Make sure you have a large enough scan to ascertain grade.
  
• If large scan is not available, and scans can't be made available, consider passing on the auction.
  
• On average, comic sellers on eBay overgrade. Take this into consideration when placing your bid.
  
• Keep in mind that some defects will not show through on scans...trusting the seller (or at least recommended from a fellow collector) goes a long way here.

Others?

[tth2]

When bidding on Heritage, or any other auction site that charges a buyer's premium, FACTOR THE PREMIUM INTO YOUR BID.

 

The formula to determine this is:

 

Bid = A / (1 + B)

 

where

 

A = Amount of money you're willing to pay

B = buyer's premium

 

So, if the amount of money you're willing to pay ("A") is $1000, and the buyer's premium ("B") is 19.5%, then you divide $1000 by 1.195, which results in a bid of $836.82, which will result in a purchase price, inclusive of buyer's premium, of $1000.

[sterlingcomics]

Selling: Shipping Charges

• Consider using the built in auction features that can automate shipping charges to various locations.
  
• If charging flat rate, take averages of shipping product to various locations so the pricing is reasonable.
  
• If shipping outside of the country, educate yourself with the various charges, forms, and services from your local postal authority.
  
• UPS and FedEx are typically cost prohibitive when involving cross-country shipments...costs may be justified based on value.
  
• It is reasonable to include costs for packing materials..."reasonable" being a key word.

Others?

[sterlingcomics]

Selling: Handling customer requests effectively

• DO reply to requests within 24 hours of being posted.
  
• DON'T ignore or provide incomplete answers to questions posed.
  
• DO be courteous and professional with all responses.
  
• DON'T get emotional, or flame potential bidders, as this will alienate them and earn you a spot as a seller to avoid.
  
• DO try to provide as much disclosure as is being requested buy the potential bidder.
  
• DON'T dodge questions posed as this will look suspicious to the bidder, and isn't good practice.

Others?

[sterlingcomics]

Selling: How to use auction features effectively

• Auctions tend to get more bids on auctions with no reserve. Unless there is a significant investment you wish to protect, no reserve / low starting bids work at providing excitement and interest with collectors.
  
• Consider using "Make an offer" if your fixed price is a little high.
  
• Do take advantage of special offers, such as 10cent day...just keep in mind that everyone else will be doing it too.
  
• Support for PayPal payments make an impact on bids placed...keep this in mind.
  
• Consider having a web designer/graphical artist create a special logo for your business/moniker to provide a unique look that will make you recognizable.
  
• In making your template for your items, make information easy to read and organized (charges, returns, etc) so bidders know what to expect.
  
• Consider using Buy It Now at a reasonable price to pressure bidders to get it before a bid is placed or a reserve is met.
  
• Using the built in shipping features make it convenient to pay for shipping using funds received from your auction.

Others?

[Johnny G]

Sterling,

 

ALL very good points so far.

 

Keep up the good work!

 

John

[sterlingcomics]

Well, this isn't the world according to Sterling. If no one wants to contribute, I might as well cancel the effort.

[Timulty]

Disclose your shipping costs. If you are charging $6.00 for priority envelope let them know you are also covering insurance, supplies etc. People love to think you are overcharging them but most of the time, the seller is lucky to break even.

[Davenport]

My 2 cents... When shopping keep in mind:

 

1. "Professional " grading criteria has never been published.

 

2. Label grades are a single point-in-time assessment. Books can have different label incarnations.

 

3. "Gaming the system" is very profitable, and there are professionals working it.

 

4. Educate yourself and be careful.

 

[alecholland]

Other Auction RED FLAGS

 

Small or blurry image scans. Especially on higher grade books.

Statements such as Item sold As Is (goes along with no return policy).

 

Sometimes it is a good idea to check who else is bidding on item being sold. If they also have private feedback, it could be a red flag as well. I've seen plenty of sellers that have several Ebay Identities bid on their own auctions to drive up the price.

[backtomarvel]

Check seller's feedback and read between the lines. Buyers are generally scared to leave negative feedback so as not to receive a "retaliatory neg" so many hide their true assessment in generic feedback.

 

"Item arrived on time" isn't glowing feedback from a buyer and I take as a caution.

 

I zero in on specifics, especially "quick shipping" ... "Item as described" ... "would buy from again."

 

I also check the feedback amount received from the person sending the feedback ... specific, endorsing feedback from someone with 400 feedbacks themselves means more to me than specific, endorsing feedback from a buyer with 10 feedbacks.

 

Barring large, hi-res scans I usually grade a comic one full grade below what they're saying and bid at a percentage of guide.

 

I also pass over any seller who demonstrates shipping profiteering, even as far as not to bid building in the inflated price. It bugs me that much.

[sterlingcomics]

good items gang. Let's keep it up. I want this information to be as exhaustive as possible. We are the self proclaimed experts here...let's show it!

[alecholland]

For buying:

 

Barring large, hi-res scans I usually grade a comic one full grade below what they're saying and bid at a percentage of guide.

 

I do the same thing even with hi-res scans I always assume they are at least one full grade below what the seller states, especially on Ebay. The percentage is usually also based on whether I have purchased books from them before or not and know how they grade.

 

Also, a bidding rule I use is to only bid on one book/auction from a seller I haven't purchased from before. Even if they have several books I want, I still only win one to see how their grading is. If grading is good, I add them to my favorite sellers list and try 'em out again.

 

For selling:

 

Regarding shipping, I just found out something about FEDEX the other day which I think is important to note. Even though you can insure a package for any amount with FEDEX and they charge you for it, if it get's lost or stolen they only pay up to a $100 for the loss. So, if you were to sell a $1500 book and something happened to it, you would only get $100 from FEDEX to cover your loss. Anyone selling high dollar books should take this into account if shipping via FEDEX.

[Mr. Zipper]

As a seller, address all the pertinent and hot button issues in the item description. You MUST be more descriptive than a simple grade assignment. Very often, mid and lower grade books technically allow certain flaws that some collectors may wish to avoid.

 

* Is the book restored? How thoroughly has it been checked and if it is restored, to what degree? I often suspect sellers who don't mention resto might be trying to get away with the old "I never said it wasn't" defense. Clearly state return policy if restoration is discovered.

 

* Always note hidden yet serious flaws - rusted staples, tape, detached centerfold, interior tears, coupons cut, toning to inside cover, poor page quality, musty smell, etc.

 

* Scan the book against a background which provides good contrast at the edges and corners.

 

* For expensive books, offer a photo of the book opened so buyers can see the page quality, centerspread, etc.

[Hobo]

Sellers:

 

I like to offer a money-back guarantee upon the return of the same book in the the same condition. It's the closest I can come to "being there" like at a convention.

 

Know how to ship. I know I beat this horse on a regular basis, but it just won't die. I still get books shipped to me in manilia envelopes with no sandwich reinforcing (not by anyone I've bought from on these boards )

[Norrin_Radd]

Sorry for the repeat...it will be easier to sift through information if it is localized in one thread...

 

Auction RED FLAGS

• Seller has private feedback
  
• Seller is selling comics for a third party.
  
• Seller gets defensive for reasonable requests for additional information.
  
• Mystery box auctions or unclear contents of mass number of comics
  
• No return policies

Others?

 

The litmus test I've heard many, many members state is...

 

[*]Request to pick the comic(s) up in person. If they refuse, pass on that sellers auctions.

 

Other red flags often mentioned...

 

[*]Seller does not take PayPal or other credit card payments (which offer atleast some buyer protection), only money orders.

[*]Seller only posts small scans and will not provide larger scans/pics of the comic.

[Point Five]

Check seller's feedback and read between the lines. Buyers are generally scared to leave negative feedback so as not to receive a "retaliatory neg" so many hide their true assessment in generic feedback.

 

"Item arrived on time" isn't glowing feedback from a buyer and I take as a caution.

 

I zero in on specifics, especially "quick shipping" ... "Item as described" ... "would buy from again."

 

I also check the feedback amount received from the person sending the feedback ... specific, endorsing feedback from someone with 400 feedbacks themselves means more to me than specific, endorsing feedback from a buyer with 10 feedbacks.

 

All great points regarding feedback...and here's one more: check a seller's Feedback Left for Others when contemplating a large purchase. Many buyers don't leave negs or neutrals for fear of retaliation, so the feedback a seller left for their buyers can be extremely revealing...in addition to revealing transactions gone sour, it will also give you valuable clues as to whether the seller can even form a coherent sentence. Communication is everything!