Cheaper than eBay
To Bid or to Buy?
We understand that our customers want the best possible deal when making a purchase. Who doesn't? Most people will not pay more than they have to for something, especially if the exact same product is readily and easily available elsewhere.
eBay has made getting a bargain even easier - which is great for some things. You really want a DVD but it costs £17.99 new in store, whereas someone has watched it once and you can buy it secondhand for £3 including postage on eBay. Fantastic! However, this is not always the case. There are some things most people just would not trust buying off eBay, such as a diamond ring? Or designer gear? Or investment gold? Well, most of us wouldn't, purely because it is in our nature to be weary and mistrusting.
Think of the old saying - "If it's too good to be true..." If someone is offering a gold coin for half the worth of the gold, then why would they? They would be better scraping the coin and getting the worth of the gold. So if someone is offering a coin at almost double the worth of the gold, what does that mean? Does it mean the coin is very rare? That it is almost impossible to find? That you were very lucky to stumble across an almost none existant coin whilst browsing on eBay? Unfortunately this is probably not the case. The chances of defrauding innocent people by offering goods at such a low price they cannot miss the opportunity is no longer as easy as it used to be. People are a lot wiser and would rather save their money and purchase something full price, knowing they will get what they want, rather than surrendering half of the money when you will possibly lose it, with nothing to show.
We're not saying that people on ebay are defrauding people, they could very well be selling a genuine item to you, but the way people dishonestly make money has changed. It is better for a seller to actually purchase a product and sell it at a ridiculously high price, making their money legaly. Technically there is no wrong in this, well, we'd argue there is something morally wrong with it. If someone chooses to pay two, three, or even four times the RRP for a product, than that is their choice. The issue is that most people don't realise they are paying so much more than they should be, or if they do, they think it is because they are buying an incredibly rare piece that is going to be even rarer in years to come and worth so much more money than they paid for it. When these people come to sell their purchases on, they think they are going to make a profit, but more than likely are going to be making a loss.
This page is a guide for you, some our customers, some potentional customers, and others just wanting some helpful friendly advice. Should you bid or buy?
Having thought about the dilema consumers face when trying to make a purchase - whether you want to pay more for something or take a risk and pay less for something that could potentially not be genuine - what are you meant to do?
First things first. Do some research. Have a look around our site, and then have a look at our competitors. A good starting point is when looking at competitors is The Royal Mint. We try our absolute best to pass any savings we can onto you. So when we bulk buy from them at trade prices we are able to pass this onto you. We try our best to sell our Royal Mint products for at least 10% less than they are selling them for. For example at the time of writing this The Royal Mint were selling the 2012 Sovereign at a cost of £379, whereas we were selling them at a cost of £280. A saving of £99!
Having said all this, lets track back a little. It could seem that we are offering products at prices too good to be true, and it is understandable that you may be weary. If you are weary, then please remember that we have a working showroom and almost 50 years of experience and happy customers! All of our customers are more than welcome to visit the showroom and pick out what they would like to purchase, and to look through however many products as they like before purchasing. This option is just not available on eBay. Some of the sellers may be registered shops but if you buy through eBay then you do not have the chance or option to view what you are purchasing.
Once you have done some research on what you would like to purchase, then you can head to eBay and look at the prices on there. You can see the difference in pricing. As a rough guide, we tend to pay between 90%-98% of the intrinsic cost of the gold. You will be able to work out how much you would get if you were to sell the product, and determine if you are going to make a loss. Of course you will make a loss based on the same gold price when you purchase and sell, but you will be able to see how much the gold spot price needs to increase in order for you to break even or make a profit.
Prices on eBay Confusing Other Sellers...
There might be a time where you come to sell your collections, or perhaps you have inherited someone elses collection? eBay also confuses people when they wish to sell because the high prices that products are listed for deceive people into thinking their collections are worth that amount. The simple answer is that they are not! As we have been explaining, some sellers are greedy, and list items for very high prices, usually for 'buy it now' in the hope someone does not know they are paying well over the odds for it. When we get a phone call asking for us to purchase something, we are often told "well they're selling on eBay for twice that amount!" When we offer a price. No they are not selling on eBay for that, they are listed for that, and as they are listed for so much more than they are worth, people will not be offered that when they ring us for a quote. You are more than welcome to attempt to sell on eBay but you would need to pay the listing fees and you may not even sell it! We are offering money that will be paid to you right now!
Here's Some of the Research for You...
We've decided to do some of the hard work for you and give you various examples of where prices on eBay are much dearer than ours. There is no need to pay such extortionate prices for products that we sell much cheaper.
2011 Proof Sovereign
2011 Proof Five Coin Sovereign Set
Other Pages of Interest
Here are some other eBay related pages you may find of interest.
Lemmings - Don't Be One
In January 2009m we noticed a number of record prices paid for bog standard Krugerrands on eBay, as high as 27% premium. We are thinking of awarding a prize to the idiot who pays the most ridiculous price.
eBay Scam Example Goingfast3 $1.2 Million Fraud Attempt
We helped to save potential buyers getting ripped off for over $1 million. eBay appears to have done nothing or very little.
New - Buy / Sell Prices on Gold Sovereign 4 Coin Proof Sets
We have recently created a new version of our original Proof Sovereign Sets page, with buy and sell prices quoted.
Selling Gold Coins & Bars on eBay