|Forum Home > General Discussions > the unofficial "cranko" interview that nobody gives a damn about|
Some of you have asked me some these questions via text, email, phone, in person, chat, and maybe in a forum. The questions may be in a different form or format, but the information is the focus. Some questions I have added myself. I have designated you/interviewer as the person asking the question, and me/cranko Some of my responses may not be the exact same, but they are not lost in translation I can assure you that folks. Here we go:
You : Where is the name "cranko" derived
cranko/Me : My brother and I would be sitting downstairs in the living room, our mother would walk down the stairs during the morning, and she would be complaining about something. We were sitting downstairs saying, "Uh oh, here comes "cranko"! It became my handle/eBay identity by coincidence. But she is the original "cranko", and I am the "son of a cranko".
You: Why does bidding remain low the entire week within your eBay auctions, it goes up in the last few hours, and even higher in the last few seconds to some extreme price from the last price?
Me: Most of the bidding you witness in the last few seconds are not bids placed in real-time. The bids are preloaded into auction sniper programs such as "justsnipe" as an example, and you/I see all the bulk of the bidding at the end. I have used a sniper program for almost two years, it saves me loads of time when I am buying coins, and allows me to set a budget. Some bidders place nominal bids instead of putting something on their watch list, it's best to ask other ebayers their behaviors, and not me. I am not them, and they are not me in buying terms. It takes only two people to make the price grow, and only those two buyers know their limitations. Markets can be unpredictable, and buyer sentiment could change within in seconds. I buy coins from eBay, and other venues with calculated budgets. If the price goes over my budget. I walk away from the auction/deal, and move on.
You: Do you use shill bidders for your no reserve coin auctions?
Me: I have NEVER used shill bidders for my coin auctions, it's against eBay policy, and my policy as well. I would rather melt all my coins than participate in artificial price fixing or collusion. I don't believe in it, and have done everything in my power to "block" unscrupulous bidders within my auctions. I am not a market maker, but blocked some buyers as precautionary measures to let the market flow naturally. The market dictates the price ultimately at the end of the day if something is to be sold/bought. There is not much more I can do but only to be on the lookout, and be cautious. If my auctions are "shilled", then why are repeat buyers giving me feedback over and over, buying over and over for which I am grateful, and why have I not been suspended by eBay for this activity for the last 17 months auctioning coins at no reserve? I was accused of shill bidding when I sold clothing no reserve as well from time to time by competitors. My competition would get less for the same product, and they couldn't ever understand why. That's not my problem, and maybe they should learn to compete better. I believe selling is a science, and it must always be tweeked.
You: What price do you think I should pay for a coin?
Me: Pay what you feel is within budget. I am not a speculative price guide, and I know what I will pay for my own risk decisions. When the risk idea goes bad at the end of the day I have the luxury of blaming one guy. Me.
You: Where do you source your coins from? Who is your supplier?
Me: If I told you that then I would create competition for myself, and that's not prudent for my business.
You: What you are doing is not hard, it's easy, and anyone can do what you do.
Me: Yes. Anyone can do it, but it varies by everyone how it's done. Do what I did. Give up your job, risk it all without any direction, and turn it into a passion/job. It's not as easy as one may think. I work 65+ hours on coin related matters every week, and have for the past two years. My risks can go bad at anytime, don't do what I did, and I have had good luck as well. Luck has to prevail at times to stay in this business.
You: You were a waiter?
Me: Yes, I was for many years, and I formulated my past ebay clothing business with another waiter. I have also held positions as a Trust Portfolio Manager, Bartender, Gameroom Attendant, Licensed Insurance Agent, Licensed Investment Representative, and Customer Service.
You: Did you attend college, and if so what did you study?
Me: I did go to college, most of my time in college was spent partying, shooting pool, playing cards, and chasing girls. But, I studied Marketing, and really enjoyed case studies. I apply many principles of Marketing to eBay.
You: What is your realistic acceptable price for your coins in the store?
Me: Make me a realistic offer, and you will find out my selling price. Everything is for sale, and the store is set up to accept offers.
You: When did you start selling coins full time?
Me: I started selling coins September of 2010, but full time was January 2011
You: When did you start selling graded British India coins?
Me: June 2011
You: Will this be your career for the unforseeable future?
Me: For now it is, but that may change with a better opportunity. I'm always looking for a better opportunity.
You: Why do you start most of your auctions at .01 or no reserve?
Me: I've had this strategy in place for 10 years+ with most of my auctions, and I may have items in the future which will be in a buy it now format. Bottom line is that it's up for sale, and whatever it sells for it sells for at the end of any given day.
You: You sell mainly coins of India.
Me: Yes for the time being, and I sell other countries as well.
You: Why don't ship coins to India.
Me: I cannot expose myself to financial risk to fulfill collector needs. My apologies in advance.
You: How do you know what something is worth or what may be it's value?
Me: Data points are very important to get a benchmark price, but illiquid markets are tougher to judge. Everybody has a price they are willing to pay, and the secret as a salesman is finding out what that price may be. Many times I am guessing right along your side, ans speculative markets fluctuate wildly.
You: What are your thoughts about speculation?
Me: Be prepared to take substantial losses before you gain profits, and knowledge. It's a grueling learning process that may take many years or decades to fine tune. Be prepared to adapt to anything at anytime, and study well.
You: Thanks for your time
Me: Thanks for your questions
Sanjay C. Gandhi
You must login to post.