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I'm thinking of selling some silver, as it has doubled, and I'm thinking it's due for a huge drop. I'd rather not stick (completely) around for the ride.

Who do you sell to, if you sell, and why?

Here are the options I see:

APMEX
Craigslist
E-Bay
Local Dealer
Here

between ebay and paypal you'll lose a pretty big cut. id make that my last option.

if you went local or with craigslist you wouldnt have to hassle with shipping.

just curious - how big of a "huge" drop do you forsee?

HelloMeteor wrote:I'm thinking of selling some silver, as it has doubled, and I'm thinking it's due for a huge drop. I'd rather not stick (completely) around for the ride.

Who do you sell to, if you sell, and why?

Here are the options I see:

APMEX
Craigslist
E-Bay
Local Dealer
Here

Id try listing here

If you are selling enough, I'd try Tulving. http://tulving.com/New%20Pages/shipping_silver.html I bought from them, and I'd sell to them too.

It seems like you'll get the most off ebay, but after fees and more fees... Online forums are your best bet

I sell predominatly to either members here, or when I sell my "scrap" from producing ingots/jewelry/bad coins/etc I use Market Harmony exclusively. http://marketharmony.net/

aloneibreak wrote:just curious - how big of a "huge" drop do you forsee?

Why would you take the buying and selling advice, or market-timing speculation of any member here... over doing your own research and forming your own opinion? There are hundreds of websites and thousands of articles devoted to the cause and effects of our current mess, and the potential adverse consequences. Read them, consider the implications, and beware the ramifications. HOLDING gold and silver, and constantly accumulating more, is the answer that you'll discover by intense study of the consensus of advisors and analysts who do this professionally... not trying to outguess the markets to attempt to make short-term gains in PAPER!! The day will come when you're smug about your little gain, and then the market explodes, supplies dry up, and you can't get back in at ANY price. Don't think it can't happen. Even when the price dropped to $9 an ounce, you couldn't find supply for less than $13 or so. You have to let go of your mental perceptions that box you in. Stop thinking about where silver was and has been over the prior months, and change your focus to where silver will be in the coming years. The entire world is competitively devaluing their currencies so your focus should be there. If you honestly think that the dollar will stabilize, and that govt/FED efforts to "stimulate" the economy will have the desired effect... then go ahead and sell off your core holdings of real money for Monopoly bills. But, if you don't foresee any end to the constant influx of newly-created money injected into the economy (QE2, anyone?) and the inevitable eventuation of hyperinflation, then buy silver and gold hand over fist... and don't worry about the temporary ups and downs caused by temporizing weak hands.

I just sold a 10 oz. bar on e-bay on Saturday night. It went for $265 + shipping, but the fees were $32. I still got slightly over spot and I bought the bar for about 150 so I really should not complain, but 32 bucks to the corporation is rather painful. I will still use e-bay but I think I will start trying to use other venues like on this forum. I also sold 3 one oz. .999 rounds last night on fee-bay and got 26,27, and 28 bucks for them + shipping so there is some benefit to selling to that global market. I never sell much of my little hoard but I like taking some profits on the highs and making larger purchases during dips. I still buy during times like now but only real good deals, like from some of the other members of this forum. So even when hyperinflation really kicks in I will be sitting pretty.

This site is scheduled to go live in early 2011

www.spotmex.com

If you want to sell fast then I suggest you go to a local dealer. Keep your sale below $10,000 for security reasons.

You only have 2 posts here and being so new your credibility as a seller would be in question. No disrespect intended but facts are facts.

beauanderos wrote:

aloneibreak wrote:just curious - how big of a "huge" drop do you forsee?

Why would you take the buying and selling advice, or market-timing speculation of any member here... over doing your own research and forming your own opinion? ]

believe me ive done my own research. and i see no possible reason for much of a small dip - let alone a "huge" drop.

which is why i was curious as to how this new member had reached that conclusion.

Nickelmeister wrote:This site is scheduled to go live in early 2011

http://www.spotmex.com

Wonder who is behind the new site... and what they'll get out of it? I can see how something like this could become instantly popular if it's well run and the fee structure is less expensive. Ebay won't like it though. Wonder if they would let you make Paypal payments on a competitive site?

I think it'll start free to get people on board, then add some sort of small fee.

I subscribed to be notified when it launches. It could be awesome or terrible depends on how it is operated as far as the reliability of tHe site and whether they will insure the transactions if it's going to become mainstream. There has to be a competator to paypal sooner or later..

aloneibreak wrote:between ebay and paypal you'll lose a pretty big cut. id make that my last option.

if you went local or with craigslist you wouldnt have to hassle with shipping.

just curious - how big of a "huge" drop do you forsee?

I'm a regular know nothing. Just looking at the charts, any time silver has gone up this much in this short of a time, it' has consistently corrected by a fairly large amount.

If I can sell, and then rebuy the same amount of silver for less than I sold, I would view it as a significant success.

beauanderos wrote:

aloneibreak wrote:just curious - how big of a "huge" drop do you forsee?

Why would you take the buying and selling advice, or market-timing speculation of any member here... over doing your own research and forming your own opinion? [/img]

Because my own opinion is my own, and as such subject to my own prejudices. Other people offer other viewpoints which may, or may not be valuable. I'm not so knowledgeable of these things to think that my own thoughts can't be improved by the insight someone else might be able to offer.

beauanderos wrote:

Nickelmeister wrote:This site is scheduled to go live in early 2011

http://www.spotmex.com

Wonder who is behind the new site... and what they'll get out of it? I can see how something like this could become instantly popular if it's well run and the fee structure is less expensive. Ebay won't like it though. Wonder if they would let you make Paypal payments on a competitive site?

Thanks for the Spotmex link and this topic.

I face a similar situation, I've bought a lot lately (before it went to $23) and need to sell a bit before the holidays are upon us.

I'd like to sell here, but fear my newness/trust will be an issue. What is the best way (short of shipping before payment) to go about establishing oneself as an honest trader on these boards? Does eBay feedback or ANA membership count for anything?

do some deals where you ship and agree to pmt upon receipt. then ask for feed back.

ebay feedback will help you.

like LT said you may have to ship a few small lots first.

work your way up to bigger deals.

could also have a 3rd party on here hold payment.

Well, actually I've never sold a thing but for buying my choice has always been a local dealer or contact for security reasons. I've only used AMPEX, etc. for certain small orders that I just could not find locally. It's just been the last two weeks that I've bought from a member here - just had to be observe enough to feel comfortable with it - have to add that the member feedback area helps. I've passed on a number of items in the "Buy" section that I was interested in, but not familiar enough with the person selling it - I'm certainly not saying those members are not trustworthy, but the comfort level wasn't high enough for me. The early advice about starting with smaller sales is good, the more money involved the higher the comfort level needs to be - at least for me. I wouldn't worry so much about sending $50 to someone sight unseen, but $1000 is a different story.

In short as far as selling here, start small, set up a feedback area, and complete your deals in a timely manner. Heck, once the purchases I made are complete I'm planning on starting a feedback area for me even though I only buy. That way, if I do decide to offer something to sell at least members can see I do have some sort of track record in completing deals.