Tuesday, March 8, 2011

eBay no playground for cheap Silver

The following are the results from a completed item search on eBay. The search term used was "1 kilo silver bar" (I have not cherry picked the results, this was every item that listed as sold in the search). Next to each completed auction figure I have entered the daily price for a PAMP Silver Kilo bar as priced by ABC Bullion on the day and the premium paid by the eBay buyer. Here is their live price link (Link), I was able to retrieve previous days pricing as I am on their daily price mailing list.

As can be seen consumers are paying big dollars for Silver on eBay.

Granted there might be some delays when buying from a dealer, but I would say chances are many of those paying ridiculous premiums on eBay simply don't know any better.



That said there is the odd bargain on eBay. In late January a Queensland dealer offloaded dozens of PAMP 1 kilo bars for less than spot including postage. These were all listed 'Buy it Now' with a very low price. Most of them literally sold within minutes of listing. I know because I was one of the buyers, refreshing the page for the next batch to list.

I know I'm very happy with my 1 kilo PAMPS which judging from the price above are worth around $400 each more than what I paid for them a short 6 weeks ago!


So there's a tip, keep your eye out for newly listed auction that are a fixed price, you never know when a good deal will come along. Just make sure you do your research before hitting the buy button and keep in mind that the deals are far and few between, usually a good dealer will beat the prices being paid on eBay.


BB.

Disclosure: Positions held in Silver. Not investment advice. Do your own research.

2 comments:

  1. Great post, just looking into silver bullion myself and this was very informative, great site!

    ReplyDelete
  2. Thanks KJ, glad you found it helpful.

    ReplyDelete