Hello! I'm new here! Selling silver bullion...

Hi! I am new here, coming from that other auction site. I really like the way that eBid works. I like the looks of it. But what I really like is the community feel to eBid. Everyone seems so willing to help each other out, it's great. If I am able to generate some sales here, I will get the lifetime membership so I can rock that tee-shirt!

So a little about me and what I am doing here. I have been buying and selling silver bullion for the last 5 years or so and recently started trying to buy in larger quantities and sell in smaller quantities to make a little extra money and spread the word about getting into silver as a hedge against inflation. Well, it turned out that I was having to either buy at a market dip and sell at a high point on Ebay, plus a nice mark up to really turn any kind of profit because all of the profit was going to Ebay and Paypal! About the best I can do as a still very small dealer is $0.75 over spot per ounce. Local coin shops sell for $2 over spot but I am not really competing with them, since those people want to walk in, hold what they are buying and plop cash down on the counter and walk out. Internet buyers are different. They seem willing to pay $4 or $5 over spot - I guess just so they can make the transaction from their home or office and have the silver delivered to them. Maybe these folks live in small towns far away from their nearest coin shop - who knows? (I am rambling, but I am getting back around to my point.) If people are willing to pay a premium to buy small quantities of silver online (and I am talking about 1 to 10 ounce transactions), why should all of the profit go to Ebay? I have no problem with them getting a cut and the 3% FVF that eBid charges is very reasonable. After doing the math on a couple of transactions and realizing that the only ones getting anything were Ebay and Paypal, I figured I had better start looking around! So here I am - rambling on like the village idiot.

About me: 44yo male, wife, two kids, dog, reside in Meridian, Idaho

That's about it. Any suggestions to help generate traffic to eBid in general? (Which I would love to see grow!) I'll do my part! Gotta get that tee-shirt! Do you sell bumper stickers too?

Have a great one!

Dave

PS: Here's my first auction!

http://us.nine.ebid.net/perl/auction.cgi/16730273

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Originally Posted by silvermonger

Hi! I am new here, coming from that other auction site. I really like the way that eBid works. I like the looks of it. But what I really like is the community feel to eBid. Everyone seems so willing to help each other out, it's great. If I am able to generate some sales here, I will get the lifetime membership so I can rock that tee-shirt!

So a little about me and what I am doing here. I have been buying and selling silver bullion for the last 5 years or so and recently started trying to buy in larger quantities and sell in smaller quantities to make a little extra money and spread the word about getting into silver as a hedge against inflation. Well, it turned out that I was having to either buy at a market dip and sell at a high point on Ebay, plus a nice mark up to really turn any kind of profit because all of the profit was going to Ebay and Paypal! About the best I can do as a still very small dealer is $0.75 over spot per ounce. Local coin shops sell for $2 over spot but I am not really competing with them, since those people want to walk in, hold what they are buying and plop cash down on the counter and walk out. Internet buyers are different. They seem willing to pay $4 or $5 over spot - I guess just so they can make the transaction from their home or office and have the silver delivered to them. Maybe these folks live in small towns far away from their nearest coin shop - who knows? (I am rambling, but I am getting back around to my point.) If people are willing to pay a premium to buy small quantities of silver online (and I am talking about 1 to 10 ounce transactions), why should all of the profit go to Ebay? I have no problem with them getting a cut and the 3% FVF that eBid charges is very reasonable. After doing the math on a couple of transactions and realizing that the only ones getting anything were Ebay and Paypal, I figured I had better start looking around! So here I am - rambling on like the village idiot.

About me: 44yo male, wife, two kids, dog, reside in Meridian, Idaho

That's about it. Any suggestions to help generate traffic to eBid in general? (Which I would love to see grow!) I'll do my part! Gotta get that tee-shirt! Do you sell bumper stickers too?

Have a great one!

Dave

PS: Here's my first auction!

http://us.nine.ebid.net/perl/auction.cgi/16730273

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Welcome to eBid Dave

That info would be just great on your me page which everyone here feels is very important as a seller to have because most buyers read them.

We have a 'Plug your Auction' forum for members to pimp their store. You are allowed 1 thread and you can bump/update it every 24 hours by responding to yourself and adding new info.

Just holler if you get stuck and ask questions on the appropriate forum with anything, someone is always around to help out.

x

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Originally Posted by jeweleffects

Welcome to eBid Dave

That info would be just great on your me page which everyone here feels is very important as a seller to have because most buyers read them.

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I agree, except perhaps you should leave out your markup amounts. All the other information about yourself would be good.

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Do you sell bumper stickers too?

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Our cars don't have bumpers, so we got window stickers. On the back window and the side windows . . .every time we get in a traffic jam, other drivers get to read them. eBid has other promotional items available, I'm pretty sure bumper stickers among them.

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Originally Posted by TiasTreasures

I agree, except perhaps you should leave out your markup amounts. All the other information about yourself would be good.

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Well spotted Tia, didn't think about that in the rush to respond

:o:D:o
x

Hi Dave! Welcome to ebid. I checked out your auction and it looks great and people were looking already.

I agree about feebay, the fees were at least 25% of my sales, money right out of my pocket. Traffic was great but sellers pay dearly for that traffic. After I left I I opened a website which I also linked to ebid, so get customers from both. All sorts of tricks to selling here, check out the forums for them.They will get you started selling faster.

Very important to contact all your past customers, tell them you moved and encourage them to come here, (and earn buddy points for bringing them over). PP has the emails if you want to compose and send a little postcard to send.Helps all of us to bring in more buyers, espec with the economy the way it is.

I think you hit upon an important point, many of our buyers are from areas that have no specialty stores, shops, auctions etc. I sell vintage linens and almost all my sales are to buyers in tiny little towns (PO clerks always laugh and say "don't they have pillowcases in Yerke MS?"). If you can provide the service of that coin store, why not step right in and do that?

Good luck!

Thanks for the good advice and well wishes!

I don't have a problem with telling anyone my markup. Wholesale silver prices are available anywhere, so acting like it is a big secret is a little silly, no? The rest is simple math. I have no shame about trying to make a little money while meeting the needs of the small volume buyer.

I call them "bumper stickers" - that is the common term in the US for stickers intended for use on a car or truck (lorry). Although my cars have "bumpers" they are plastic, so I put them on my windows - much easier to get off when they fade and peel.

Hello Dave and welcome aboard. If you didn't know you need to contact ebid support and give them your t-shirt size so they can send it to you. (free with seller+) Goodluck with the buying and selling.

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Originally Posted by canuckbid

Hello Dave and welcome aboard. If you didn't know you need to contact ebid support and give them your t-shirt size so they can send it to you. (free with seller+) Goodluck with the buying and selling.

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OP seems only to be seller, not plus, so don't get their hopes up. :)

Welcome to eBid Silver' - happy selling!

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Originally Posted by bykimbo

OP seems only to be seller, not plus, so don't get their hopes up. :)

Welcome to eBid Silver' - happy selling!

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Plan on being Seller+ depending on how this first auction goes.