Collectible Stocks and Bonds from North American Railroads
by Terry Cox
Hints for sellers
 

 

Don't be decieved. Selling certificates is not as easy as it seems. Internet auction sites make selling seem deceptively easy. However, I have noticed that many, many rare certificates sell for tiny percentages of what they would fetch in professionally-run auctions.

There are probably many reasons for the descrepancy. However, I think abnormally low Internet auction prices can probably traced to two major reasons:

lack of customers

lack of professionalism

 

 

Availability of customers. Auction sites theoretically offer you millions of potential customers. But only if you properly promote your product.

If you do not promote your own product sufficiently, only ten or twenty people on the whole planet might see your certificate.

The fewer people who see your product, the fewer - and lower - bids you will receive.

You can directly influence the number of potential shoppers by how you describe your certificate. Many people believe they are poor writers. But even if you are a poor writer, here are a couple of hints.

1) Search for people who are already selling successfully. Mimic their descriptions. They have already done the hard work. They know what words sell. Before you ever try to sell a single item, research how other dealers are doing it. Copy their style. Say the same things about your certificates that they say. For ideas, visit the web sites of the people I list on my DEALERS page..

2) Follow the old advertising axiom: "The more you tell, the more you sell." It is a little tricky to figure out how much to write. Admittedly, many people do not read well. Nor do they read critically.

However, there is a substantial evidence to suggest that more is better.

But let me warn you of one thing. No matter what you write, and no matter how clearly you write, there are always going to be some people who will ask for more information. Some who will ask really obtuse questions. That is unavoidable. Just answer their questions kindly, and move on.

Actually the larger problem is from the other kind of potential customers.

The ones who don't write.

Sadly, most people will not write. And they will never bid. Instead of writing and asking you to clarify your description, they will simply move on to other opportunities. For that reason, I beg you -- make your descriptions clear and accurate.

3) Sell where the customers are. There are many online auction sites. But let's face facts. The lasrgest auction site in the world is eBay. So why not sell there? United States = http://www.ebay.com. Canada = http://www.ebay.ca. Germany = http://www.ebay.de.

All these sites are HUGE. So make sure you list your certificates where people will find them. Recommended divisions are Coins>Scripophily>Railroad or possibly Collectibles>Railroadiana>Papers.

Make sure you use the title your offering correctly. Include the railroad name and a short description of the certificate. In your description, make sure your tell everything that you possibly can. Remember, "the more you tell, the more you sell." (It also allows buyers to finds you through the eBay search engine.)

Do NOT be over-emphatic and claim something is scarce, rare, or one-of-a-kind if it isn't. Most certificates, however, can be "nice," "decorative," "early," or "attractive."

Most service providers will allow you to put your scanned images on your own private server space. This allows you to control size and image quality. Talk to your ISP.

Professionalism. If you appear professional, you will generally attract better bids. Everything, from the words you use, to your payment policies will affect how people interpret your professionalism. (Accept all forms of payment including Paypal and/or Billpoint, personal checks, cashiers checks, money orders -- try to lock people out and, believe me, they will stay away!)

Everything you say and do affects how people will view your professionalism. But, the single most important element is visual. You cannot pretend to be professional if your illustrations look amateurish.

Compare your items carefully with other sellers. Are your items bright and attractive? Or dull, dark, crooked, or out of focus? Bad images scream "amateur" so loudly, your bidders will never hear your words. No one will bid as much for amateurish offerings as for professional presentations.

Look at your presentation from your bidder's viewpoint. Maybe even ask someone to critique your offering. Pretend you were bidding on a certificate. Ask yourself, who is likely to settle for less? A professional? Or an amateur?

Offerings from amateurs attract lower bids.

Let me show you a real-life example. The image on the top came directly from an auction listing. I made the image on the bottom by removing the black border, brightening the original, and straightening the image.

I reduced the images for quick-loading on this page, so details are not like you would use on an Internet auction. But, looking at these two images from the viewpoint of a potential bidder, which of these images looks more professional?

I have now looked at well over 10,000 such images. Enough to offer a few suggestions.

Scan your certificates. Do NOT use a digital camera. Find someone in your neighborhood or business to help if you do not own a scanner. The worst images on auction sites come from digital cameras.
Scan against white or light gray backgrounds. Do not use black backgrounds. They make certificates look gray and dirty. Do not use colored backgrounds. They add awful color casts.
Make sure your images are bright. Even entry-level scanning programs allow you to lighten your images and add contrast.

Make sure your certificates are rectangular. Digital cameras distort certificates into trapezoidal shapes.

Show your entire certificates. If your certificates are too large for your scanner, scan them in pieces and patch them together. Again, you have neighbors or business associates with those skills.
Do not scan coupons on large bonds. You are just wasting space. Collectors know what coupons look like.
Do not add extra images of vignettes. You will increase your download time. And you will increase the chances that bidders will "click away."
Do not add images of backs unless there is something very special there. Again, you will merely increase your download time. Collectors seldom care about the backs unless there is an important signature there.
Make download times as short as possible. Generally, include only one image. Aim for 72dpi at about half size. The larger your image files, the longer they will take to download. And the fewer bidders who will wait. Especially if those people come back to auction sites several times to raise or check on their bids.

Always, always, always think about your potential bidder. And never underestimate them.

They have money, but want GOOD deals.
They are impatient.
They are moderately to very experienced.
They already know what is rare.
They already know what is desireable.
They already know what they want
They are not swayed by deceptive sales chatter.

 

 

 
 

 
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