ebay

'Holy grail' Michael Jordan card sells for $350,100, setting eBay record

A winning bid of $350,100 secured a rare Michael Jordan basketball card on eBay Wednesday night after a flurry of bids raised the price by nearly $150,000 in the final two minutes.

“In the world of trading cards this is a ‘true holy grail,’ ” Brent Huigens, CEO of PWCC Marketplace, said in a statement through eBay. PWCC handled the auction on behalf of a private owner.

“Most advanced investors have never seen one before and this was the first copy we’ve handled in 20 years,” Huigens said.

Just 10 of the Bulls legend’s 1997-98 Precious Metal Gems (PMG) Green cards were made as insert cards for Skybox’s Metal Universe packs, and this card — No. 6 of 10 — is one of only three PMG Greens known by experts to have been graded by the Professional Sports Authenticator (PSA) service.

PWCC Marketplace

The Michael Jordan PMG Green basketball card (front and back).

The Michael Jordan PMG Green basketball card (front and back). (PWCC Marketplace)

According to a representative for PWCC, the sale doesn’t become official until the bidder pays, likely by Friday.

“I believe it’s the highest-selling Jordan card of all time,” said Rich Mueller, editor of Sports Collectors Daily. “His rookie card, even a PSA 10, (which is) gem mint, there aren’t a ton of those around, typically sells for $20,000-$25,000.

“There have been other pieces of Jordan memorabilia — game-worn shoes, important game-worn jerseys — that have sold for pretty strong prices. But in terms of cards, that’s unprecedented.”

Heritage Auctions sports consignment director Nick Cepero called the final bid “pretty remarkable.”

“That’s what happens with eBay sales, the all-out warfare happens in the last 30 seconds,” Cepero said.

Skybox intentionally limited the number of “insert” or “chase” cards they produced to entice collectors and NBA enthusiasts to buy the full Metal Universe packs. The company made 90 of the PMG reds — one is currently listed on eBay for $175,000 — and 10 of the greens.

Precious Metal Gems 1997 for other players also fetched some eye-popping bids Wednesday night, including Jordan’s teammate, Scottie Pippen, whose card went for $22,300, as well as cards for Tim Duncan, Allen Iverson, Grant Hill and Antoine Walker. Those cards also were managed by PWCC and likely came from the same collection, Mueller said.

PWCC Marketplace

The Scottie Pippen PMG Green basketball card (front and back).

The Scottie Pippen PMG Green basketball card (front and back). (PWCC Marketplace)

But the Jordan PMG Green’s $350,100 haul still stands out, and some collectible experts believe it’s the third-highest ever among basketball cards, behind a mint-condition 1969 Lew Alcindor rookie card by Topps and a 1948 George Mikan by Bowman, also a rookie card.

In 2015, Baseball Card Exchange listed a Jordan PMG Green, No. 1 out of 10, on eBay, but pulled it from the site after it reached $91,300 because of issues vetting the bidders. It was later sold privately for “a small six-figure sum,” according to a release from eBay.

Also, eBay confirmed that Wednesday’s Jordan auction, which also had to be relaunched with pre-approved bidders, set a new record as the most expensive basketball card sold through its site.

“If you were the one to pull one out of a pack, it’s like winning the lottery,” Cepero said.

Mueller added, “I’m still kind of shocked. That’s a really huge price. There’s an awful lot of Jordan cards that are numbered to 100 or less. There are one-of-one Jordan cards and other insert cards from the ’90s that have a little game-worn jersey piece that don’t even approach that figure.”

Mueller called it a perfect storm: Jordan collectors have a ravenous reputation and the ’97-98 PMGs have their own cult following.

Mueller added that nostalgia also could be a big factor. Many of today’s top collectors were kids in the ’90s, and now they’re older “and they’ve got this disposable income.”

The Jordan card could have a domino effect on the price of other rare basketball cards, he said.

plthompson@chicagotribune.com

Twitter @_phil_thompson

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11 tips to make more money on eBay

Whether you're looking to set up an online business or you just have a pile of clothes you're hoping to turn for a profit, learning how to sell your stuff online can be a valuable and lucrative skill. Using eBay, one of the world's largest e-commerce platforms, you can sell just about anything, with a few notable exceptions.

Business Insider spoke to experts and online sellers about some of the best tricks for selling items on eBay.

Clear, high-quality pictures are extremely important

When photographing the items you'll sell, take shots from multiple angles.Reuters/Jason Lee Buyers can't touch the item that you're selling, so they rely on images to help them decide whether or not to make a purchase. It's incredibly important to make sure shoppers have as much information about your product as possible and high-quality photos are one of the best ways to differentiate your item's listing from similar ones.

"To maximize visual appeal, include multiple photos of the item from different angles. [Take photos] in good lighting with a plain background. For example, photograph clothing on a hanger, dress form, or mannequin. For shoes, photograph them from the top, sides, and bottom of soles," Sam Bright, vice president of merchandising at eBay North America, told Business Insider.

If the item is pre-owned, include photos of any flaws or scuffs that you have described in the listing. Editing photos to brighten them or remove shadows is okay, but make sure the finished images that you post are accurate representations of the item you are selling.

Make sure you're using the best type of listing for each item you sell

Determining the best way to list an item will help you to increase your chances of making the most money from a sale. Bright said you should sell your items at a fixed price using the "Buy It Now" feature when you know the market value of your item. This can be an efficient way to make a sale because many shoppers won't track an auction for something they can instantly buy from another vendor.

However, he said rare or special items without a defined market value are good candidates for auction-style listings where demand can drive up the price. Users can also utilize eBay's pricing recommendation feature to better figure out how to list their item and what to sell it for.

Strategically time and schedule your auctions

You might make more profits during certain days of the week. Stuart C. Wilson/Stringer/Getty

If you're selling items using an auction-style listing, timing is crucial. You want to maximize the number of eyes on your products by running auctions during peak traffic times.

"Peak eBay traffic is especially high on Sunday evenings. Take full advantage of this traffic by setting up seven-day listings that begin and end on a Sunday night," Alison Garrison, senior director of creative and marketing services at e-commerce platform Volusion, told Business Insider.

Be sure to monitor your auctions to see if your experience differs. For example, if you find that your market is more active in the middle of the week, time your auctions accordingly.

Check out your competitor's prices in order to gauge your own items' values

You can better understand how much your item is worth by looking at how much it has sold for on eBay in the past.

"Determining your item's value will help ensure you are in line with competitors and [have] set up your listing for success," said Bright. You can search for active listings on the site and filter the results by "sold items" to see what your item or similar items are selling for across the platform.

Keep in mind that there are some categories of items that are always in demand

According to Bright, handbags are popular on eBay. Eduardo Parra/Getty

With around 179 million shoppers on eBay worldwide, the platform sees buyers with all sorts of interests, but there are certain types of items that shoppers almost always demand. Bright said some items that sell often include sports trading cards, watches, smartphones, video games, and handbags.

If you're struggling to generate a profit on eBay, it might be worth selling items that fall under categories that almost always have an audience.

Carefully craft the title of your listing

Creating an effective title for the item that you want to sell impacts how your item will appear in search results.

"Include important keywords such as the brand name, size, or other necessary descriptors that a buyer might be looking for [in order] to increase the chances of a shopper finding your item," said Bright. Don't forget to also include these major details in the listing's description. The more information you can give your shoppers, the better.

Keep an eye on what's trending in fashion and pop culture

Listing culturally relevant items on eBay is a good way to increase traffic to your page. You may earn more money if you are listing items that are trending on social media or are associated with celebrities.

"Shoppers tend to turn to eBay for items that reflect what's happening in the world. For example, after celebrities like the Kardashians were seen wearing bike shorts, sales for this style spiked 27% on eBay. When LeBron announced he was taking his number 23 from Cleveland to Los Angeles, searches for his new Lakers jersey soared," said Bright.

If you notice a certain color or style keeps appearing in a fashion magazine or on popular Instagram accounts, it might be worth stocking your ecommerce page with more products related to that trend.

Never underestimate the power of a good reputation

Buyers might be more likely to purchase items from you if you've got a high seller rating. Getty/Ki Price

Keep shoppers coming back to you by providing good customer service. If your reputation as an eBay seller is poor, shoppers may think twice before purchasing items from you.

"The better your rating as a seller, the more inclined buyers will be to shop — and become returning customers," said Bright. Be prepared to answer buyers' questions promptly and ship sold items as soon as you can to generate positive feedback and boost your reputation as a seller.

Don't be shy about asking for feedback from buyers

Even happy customers sometimes need to be reminded to leave positive feedback, so don't be shy about following up with buyers.

"Feedback is very important and it's used by eBay to determine where you should rank in the recommended listings. Ask, ask, ask until you get feedback. Do it politely and not annoyingly, but ask just the same," Jeremy Fisher, creator and host of the personal finance podcast, "The Aworkening," told Business Insider.

The key is not to pester shoppers or clog their inbox with emails. Send customers a brief note thanking them for their purchase and asking them to leave you a seller rating.

Factor the cost of shipping into the product's price and then offer free shipping on your listing

Shoppers might appreciate seeing the "Free Shipping" label on your item, even if the item has a higher price with shipping built into it. Getty/Chris McGrath

If you're looking for a way to increase shopper satisfaction and simplify the payment process for your customers, consider factoring the cost of shipping into an item's price.

"Customers love to see that 'Free Shipping' label and they're more likely to purchase because they feel like they're getting their money's worth," marketing blogger and online seller Taylor Mack told Business Insider.

Although the actual cost of purchasing and sending out the item is the same to you and the buyer, customers might feel more motivated to make a purchase if they don't have to pay a separate shipping fee.

Personalize your shipments with freebies and handwritten notes

Shopping online can be a fairly impersonal experience, so connecting with your customers through thoughtful gestures may help your eBay store stand out from the rest.

"When someone buys a product, be sure to include a business card or thank-you note in their package. That way, they're much more likely to remember your brand and purchase from you again," said Mack.

You can also consider sending free items or samples with your shipments to make your customers feel appreciated. It could also make them more likely to leave you positive feedback.

Akron, Warren businesses feel energized, better off after year-long Retail Revival partnership with eBay

AKRON, Ohio -- After a year of online retail training, eBay on Thursday wrapped up its Retail Revival effort to help entrepreneurs in Akron and Warren modernize their businesses.

The outcome? Tens of thousands of transactions resulting in hundreds of thousands of dollars injected into local businesses through their online storefronts.

“I think it’s very, very important that we pay attention to our small businesses, which I think are the lifeblood of our economy,” Akron Mayor Dan Horrigan said Thursday at a “sellerbration” ceremony at The Well Community Development Corporation. “It doesn’t just end with Retail Revival.”

eBay announced in January 2018 that Akron was the first American city selected to launch its Retail Revival effort. Since then, more than 100 Akron and Warren businesses have partnered with eBay to boost their online presence.

The sellers were guests of honor at Thursday’s event, which commemorated a year of entrepreneurs working with eBay to enhance their online stores.

“They went through two months of pretty intensive training with eBay’s customer service team,” Chris Librie, head of Global Impact and Giving at eBay, told cleveland.com. “For 12 months, they had access to our concierge service where you pick up a phone and somebody can answer your questions.”

Each business owner also received a complementary store subscription for the past year, and even if they don’t opt to pay for a subscription, their products and services will still be listed for free on Akron’s Retail Revival aggregate site.

Along with the support and services, the Retail Revival program helped expand the reach for local businesses, since eBay has 179 million customers, Librie said.

“You can stay local but sell global,” Librie said of the online storefronts.

Businesses also can make sales around the clock, which prompted the slogan, “Akron is always open on eBay.” Warren has signs bearing a similar motto hanging around their city, Mayor Doug Franklin said.

The Retail Revival partnership was transformative for Ramahn Wilder and his apparel business, We Care Tees, which he started in the fall of 2017.

“I’ve always been a creative,” Wilder said. “I would just make t-shirt designs. It’s just something I love to do.”

Wilder, who lives in Akron’s Goodyear Heights neighborhood, designed a t-shirt that said, “Akron: the heart of the heart.”

“People say Ohio is located in the heart of America, and Akron is kind of located in the heart of Ohio,” Wilder said. “A few weeks later, Hurricane Harvey hit, and it clicked.”

Wilder created WeCareTees.com, produced his t-shirts and worked with the American Red Cross to donate 100 percent of his profits toward Hurricane Harvey relief efforts.

Now he donates 10 percent of his proceeds toward organizations including Splash.org, United Disability Services of Akron, East Akron Development Corporation and his women’s athleisure line benefits the Cancer Research Institute.

“Not only do you get a nice, cool design, but also that design is supporting a nonprofit,” Wilder said.

After only a couple months of running his own website, Wilder heard about Retail Revival one night on the news, turned to his wife and said, “I think I’m just going to give it a shot and apply to be a part of this.”

Wilder went into his home office, typed up his application and was elated when he was accepted a few days later.

“I’ve learned a lot about selling online,” he said of the eBay partnership. “It has allowed me to grow.”

eBay awarded Wilder with the Community Champion Award at Thursday’s event.

“Many of the sellers have been able to expand their businesses and that either means hiring people or opening brick-and-mortar [stores] where they didn’t have one before, or adding product lines and new services to their businesses,” Librie said.

Over the past year, Retail Revivals have sprung up in Lansing, Michigan, Wolverhampton in the UK, Halifax in Canada and most recently in Greensboro, North Carolina.

“We cannot view technology or e-commerce as damaging to brick and mortar stores, but that we should use it as a tool and a positive force to allow our small businesses to compete in the global economy,” Warren Mayor Doug Franklin said. “We must embrace, promote and invest in the new technologies and innovations that are out there to help out business community.