✨ Auctions ... How do we raise exposure?

[Panda6Pack]

For those of you who follow me, you'll know I'm facing some family issues back at home, which are making me refocus my priorities and I am having to scale down my precious metals collection. 

I've been running auctions non stop now but am noticing very little participation. Auctions have been closing well below my cost  and market value and the same few (which are very much appreciated) are winning these auctions. At this point I'm taking a loss on most auctions. 

How do we get more people on the forum to participate?  

I thank you all in advance for your assistance. 

as an example ... 

 

Edited October 6, 2023 by Panda6Pack

[monkey]

It might not just be exposure, the markets have slowed some what and I think the PM's spot price falling at the moment are encouraging folk to hold on until it looks like a bottom is in.

Having said this, have you advertised your auctions on you tube? or reached out to other silver forum members with channels to see if they are willing to promote your auctions? I get the feeling TSF community may pull together and help get some eyes on your auctions? Just a thought

[BLOOMMAN101]

there is no way to place a maximum bid on this site you have to keep returning here to check your bid, people forget and /or away from their screen at the close. On eBay, you can place your max bid and forget about it.   just my 2p worth

[Panda6Pack]

1 minute ago, BLOOMMAN101 said:

there is no way to place a maximum bid on this site you have to keep returning here to check your bid, people forget and /or away from their screen at the close. On eBay, you can place your max bid and forget about it.   just my 2p worth

This is true ... the best way to translate that for these auctions is to accept commission bids. Not sure if TSF rules allow for that. I'll check. 

[LiquidMetalsUK]

Silver prices are down with a few sellers sonwhow managing to sell at crazy low prices. Great for those stacking but obviously not for those selling. I used to bring In lovely usa premium items but got to the point last year where I was breaking even at best so now I don't do it anymore. Just bring in stuff for my own collection. Occasionally have a couple extras but rarely get any interest on listings. It's not the auctions just people not paying the premiums these days. They want cheap cheap cheap  

[Scuzzle]

If you need a certain price for your silver best just to put it up with an asking price and only revert to the auction if you get no takers.  It's just the nature of auctions especially when running one on a site where everyone knows the price of silver throughout the years and is looking for a bargain.  I must admit personally there has been a few items I would have liked but just thought i would wait until nearer the time and then completely forgot about it.  

[TheShinyStuff]

I don't know how may items I've seen listed for auction and thought 'I'll keep an eye on that' and then totally forgot about it...

Personally I'd just list for sale, as previously mentioned, most people on here know exactly what something is worth, and everyone wants a bargain. Times are also tough for some at the moment.

You could invite sensible offers if no interest in a day or two.

This is why I generally only buy generic bullion unfortunately.

[ArgentSmith]

These particular items sold for aprox spot plus 26% plus post, thats where the market's at for used bullion, little fomo or supply chain issues now. I would agree people skirting VAT doesn't help with premiums.

[Junior]

Speaking in Canadian dollars here (CAD) with no VAT attached.

If I see spot price of silver at $30 an ounce and a dealer is offering a 10 ounce bar for $360 ($36 per ounce), then as a seller of a similar/same 10oz silver bar, I would list the bar at $330. This keeps the price attractive as it is below what the dealer would sell it for and you won't lose your shirt by selling it below spot price. Just my thoughts @Panda6Pack

[Junior]

Whatever products you are trying to sell to generate some cash, see what dealers are selling it for and go slightly below their cost.

[Panda6Pack]

35 minutes ago, Junior said:

Whatever products you are trying to sell to generate some cash, see what dealers are selling it for and go slightly below their cost.

That can work sometimes - But I need to be mindful of my own cost. I need to watch other sellers who are "skirting VAT" as was mentioned above. As I buy legally with VAT (when coming from overseas), It makes most auctions a loss for me. So sales posts it is. Lot slower, but it is what it is.