Simply how bad of an idea is it to utilize Ebay for buying silver or gold?
Let me put it this way: when even Ebay discourages users from this practice, thats a quite bad indication.
Okay, so you select not to purchase gold on Ebay, but what about offering it? And when offering gold or silver, you desire to sell with small margins.
Ultimately, the concern with Internet services such as either Ebay or Craigslist is that they are Amateur Marketplaces run by anybody, whether they understand about organisation or not. Offering an item that method suggests being either too lazy or ignorant to offer it in a correct context, or that the item should not really crucial. On Ebay, anything goes.
Selling an item that way recommends being either too lazy or ignorant to offer it in a correct context, or that the item must not really crucial. The more valuable the product being offered is, the more most likely it is for the sale to be colored with drama. As youve no doubt chose up by now, purchasing and selling gold is made complex and not a venture for amateurs, so why effort to make a sale using an Amateur Marketplace?
Finally, its worth absolutely nothing that Selling Gold is a lot various than offering books or old CDs. The more valuable the item being sold is, the most likely it is for the sale to be colored with drama. There will be disputes over fees and shipping expenses and whether or not the product was correctly promoted. In other words, greed and the worry of being ripped off might have too much of a heavy impact on both celebrations for things to run smoothly, and Ebay does not want to be held accountable for what might potentially be a big dispute. As youve no doubt got by now, purchasing and selling gold is made complex and not an endeavor for beginners, so why effort to make a sale using an Amateur Marketplace?
Ebay features a whole page explaining the risks of being utilized for offering and/or buying gold. They do not straight forbid the practice, but they clearly understand that all the hassles included can be a nightmare and can make them responsible.
As discussed in our Craigslist post, last sales of gold and silver must never ever be made over the Internet. In reality, one could argue that Ebay is even worse than Craigslist because here the precious products from an unstable market are auctioned off. Envision you are at a public auction, bidding on a painting. The bids naturally keep rising; first it is $100, then $200, etc, and will just increase as more bids can be found in. At the exact same time this is going on, the actual worth of the paintings changes on a momentary basis. Unexpectedly it is at $150, then it goes higher, than lower, and all the while your quote only continues to rise. So you stop bidding at $200, just for the value to all of a sudden skyrocket to $350.
Okay, so you pick not to buy gold on Ebay, but what about selling it? And when selling gold or silver, you want to sell with little margins.
You understand; its close to impossible to hold a reasonable auction for gold. You will wind up paying whatever the winning quote is, not what the actual value at the time of the last sale will be. This, added to the basic concerns of not understanding if the gold product is fake or if the seller is a truthful individual, in addition to not necessarily being able to contact him straight, all make for an undependable system.
You want this exchange to be a healthy dialog between buyer and seller, and not be held behind the Mask of Anonymity that the Internet conveniently supplies. Its not uncommon for sellers to suddenly vanish. On a number of events I have actually bid on a product on Ebay where it looked like I will win, only for the auction to suddenly be canceled simply before it ended. It would appear that the seller realized that things werent going his way and quickly bailed out just before he would have been stuck going through with the sale. This is the equivalent of a shop declaring to have the product you desire and providing to offer it, just to physically disappear prior to the final sale is made. Would you wish to do business with a shop that can go out of existence anytime?