Basically did it work out? did you do it yourself or with a auction company? Did you get a decent price?
Man so random question to answer. What it matters if it worked or not? What info will you get. You need to advertise it first, and know the market, the moment, etc. If you throw it in just like that it will likely fail. A better question to ask would be, tips to make the best auction possible, but not to ask just results, as it will somehow affect your own auctions.
Well as someone who has never auctioned a high end item and just sells stuff buy it now sporadically on ebay.
Its a good thing I asked
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Most record prices are established in auctions. Also the best deals I get are almost always through auctions.
It’s just a gamble. High risk, high reward
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I ran one high-value auction a couple years ago. I got exactly what I was expecting in terms of price, but the winning bidder did not pay and immediately requested to cancel. Second chance offer did not go through and I ended up having to list it as a BIN OBO. Quickly sold just around the auction price and that transaction went through smoothly. Keep in mind eBay will do nothing to support you in terms of nonpaying buyers. I actually got a strike on my account or whatever the eBay term is because I was “threatening” in my messages to the buyer to try to get them to pay.
As PFM said, risk vs. reward. To be honest if I were auctioning off high-value items in the future I would just send them to an auction house so I don’t have to deal with the problems. Under $1k I’d take on the hassle myself but for higher value items its not worth my mental energy.
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If your items aren’t actually rare then expect to get less than market value through auctions. Auction only if you need quick money and don’t expect bid wars to happen to drive the price above its average value unless you’re PWCC
You said “high value” but I’m still assuming they aren’t super low pop cards / trophy cards since you would probably explicitly state those monikers if those were the items you’re asking about
Yeah it isnt super super high value but I do expect it to cost more than 1k$, I was planning on doing the auction in a few months or so, so I wanted to get some info beforehand
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I think I will look into pwcc when the time comes. Its interesting to think about advertising for this though. I’m not really sure how to do this without a huge social media presence. I checked the PWCC website but I couldn’t find if they put out like a newsletter prior to their auctions
PWCC has enough people religiously following them that you won’t need to publicize the auction beyond what they do.
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I auctioned off 3 1st ed base blisters last year, all unweighed and varying artworks and got 1100 on 2 of them and I believe 1350 for the charizard artwork. So for me, no it did not work in my favor.
If you are auctioning off items because you need money quick and specifically are auctioning off items that you are counting on getting market value for because you either need that much, or paid that much, you will generally have a bad time.
If you are auctioning off items because you want to clear aged inventory, or have a higher tier item you are just interested in setting a new market price point for (no recent sales), and especially when you’ve got a low cost basis and it almost all will be profit then I would certainly recommend auction.
If you just need money quick though and don’t mind wildly varying prices with respect to “market price” it is an okay solution. Plan for ~10% non pay rates though and potential suspicion of shilling even when you don’t.
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Wut
I’ve used PWCC to auction off some PSA graded cards. Last month I sold a PSA 10 Masaki Alakazam, a PSA 10 Masaki Golem, and a PSA 10 Fan Club Magikarp. The Alakazam went for more than I thought it would, the Golem less and the Magikarp about what I expected. Overall I’m happy with the results since I don’t have time or inclination to list the cards myself. If you are looking to maximize your sell price, you’ll most likely get a better price by listing it yourself on Ebay.
As an aside, I sent in a PSA 10 Masaki Gengar that will be up in the March PWCC sale. We 'll see how it goes. You take what you get with an auction
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Another good rule of thumb:
Search the item you intend to auction for BIN listings. Expect to get no more than 10-20% less than the lowest listed BIN or market price, whichever is lower. Especially for highly traded items that may have dozens of available BIN listings. Exception being high tier. I would confidently put up a PSA 9 base 1st zard or something of the sort and expect to get up to within 5-10% of “market value” or lowest listed BIN whichever is lower.
Auctions for me personally tend to be for more lower condition cards and/or lotted up cards as well. Something that I can’t justify to take the time to list individually and something that has no buy it now analog.
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I have a Base 1st non holo set psa 10 going up in pwccs March auction block if they fix my listing. Also have the ray Giratina lottery promo set going up. You can reference those after the auctions to see how they did based on sold buy it now listings.
I’m personally expecting around 10-15% less than if I had listed them for a buy it now but I value the timing of the sale more than price since the coronavirus threw a large unforseen wedding expense my way haha.