Storage Auctions
The Marketplace => Selling Venues => eBay => Topic started by: rockin the retro on February 01, 2012, 07:56:00 AM
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I've got quite a bit of scrap silver and gold and have been trying to figure out where to sell it. Pawn shops or the gold buying places always (deeply) undercut. I called a guy from a local craigslist ad that said he pays well for scrap silver. He said he pays $17 per troy ounce. Well when silver was at $30.....that didn't sound to good to me. So I've been watching ebay and prices they are getting are right in line with the (dealer) market. I've pretty much been bouncing from calculator sites and the jack hunt coin broker is the one I finally bookmarked. I use it religiously!
I've been checking weight/prices/market value and I think lb for lb it may be the best best, but........
I've noticed that most folks start many silver scrap lot auctions at .99 and let the buyers do the rest. I'm too cowardly to just step off the ledge. What if I don't get what I want? I've yet to see a lot with a reserve. Doesn't seem that the BIN attracts much attention, perhaps they're asking over market value....
Any of you guys ever peddle your metals on ebay?
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I've got quite a bit of scrap silver and gold and have been trying to figure out where to sell it. Pawn shops or the gold buying places always (deeply) undercut. I called a guy from a local craigslist ad that said he pays well for scrap silver. He said he pays $17 per troy ounce. Well when silver was at $30.....that didn't sound to good to me. So I've been watching ebay and prices they are getting are right in line with the (dealer) market. I've pretty much been bouncing from calculator sites and the jack hunt coin broker is the one I finally bookmarked. I use it religiously!
I've been checking weight/prices/market value and I think lb for lb it may be the best best, but........
I've noticed that most folks start many silver scrap lot auctions at .99 and let the buyers do the rest. I'm too cowardly to just step off the ledge. What if I don't get what I want? I've yet to see a lot with a reserve. Doesn't seem that the BIN attracts much attention, perhaps they're asking over market value....
Any of you guys ever peddle your metals on ebay?
Selling gold & silver on Ebay is too risky for me. Besides, where I live I know atleast a dozen people who will beat each other over the head to buy my scrap. Your area is probably the same, you just have to broadcast at the auctions that you have scrap gold & silver to sell and they should come out of the woodwork for it.
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I wouldn't do ebay myself. Just too much potential to be scammed. Would be easy for them to say "not as described" and get money back plus keep items. Also, this will sound sexist but did you get the prices or your hubby? I ask as I've seen a few dealers lowball or try to intemendate the female customers and then give better prices to men.
Unless you need the cash right now I'd also just horde the silver/gold. Gold has come up but is still down from the summer highs. With China / India maybe going to gold to buy oil I expect the value of the dollar to drop and gold to increase in price. Silver is more of a toss up. I always hold out till $40 or more spot price myself.
On price when you buy it is normally spot + 5-10% premium. When selling it is spot - a %. It's that % that can greatly differ from buyer to buyer.
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I've sold loose earings, broken chains, etc things I've found in lockers on ebay for scrap and have made out pretty well doing so. One thing to keep in mind if your not an active enough seller to get discounts on fees from ebay and paypal your looking at 12.9% or so in fees between both paypal and ebay so make sure your getting at least 13% more on ebay than from a dealer otherwise it's just not worth the hassle and risk of ebay if you could have cash in hand from a gold/silver buyer