@bobsr said:
I set up at different types of shows a lot.
If I had a coin on the table price tagged at $100.00 and someone asked me for "My Best Price" I would respond with $1000.00. That's MY BEST price.
2nd responding to Pittstate03, If I wanted to purchase 3 coins, I would negotiate on coin 1 till I got what I thought was my best price, I would say Ok, I'm not sure, let's set this aside for the moment and look at this coin, negotiate on that one, arrive at a good price, set that one aside and negotiate on the 3rd one , after I had negotiated for the 3 , I would then start negotiations on all three starting with a comment like " I can't seem to make up my mind, take out a roll of cash, and ask how much for all three. If the dealer said $1000.00, I would count out $800.00, pause , look expeictantly at the dealer and innocently ask " how much did you say" and wait, response $ 1000.00, lay down another $100.00 give the dealer the "snake eye look" ask How much? Response $ 1000.00, lay another $50.00 down, give a confidant stare that says I'm done , twinkle my eye , ask How much? Response $1000.00. I would casually say, thank you for your time, It looks like we WON'T be doing business after all, reach for my cash and sadly say, gee that's a shame as I just can't make up my mind. If I've been jovial throughout the negotiation, I've not one time ever left with the money in my hands.
I have alternatively gotten "The Snake Eye" look from several dealers as I've walked away but I was walking with the coins and a few more of My bucks still in my pocket. And truthfully, for $50 or $100, you can glare at me all day long.
Bob Sr CEO Fieldtechs
@MorganMan94 said:
This sounds like terrible advice to me. Sure, if I am buying a car and likely never seeing the salesman again I would consider it, but buying a coin from a dealer I am likely to do business with again no way! Coin dealers do talk, and that sounds like a good way to make a bad name for yourself.
Recently, I've started looking more at auction house archives... the grey sheets are good snapshots in time, but the auction house websites can give you a sense of the over all trend for your particular coin. I'm coming to rely on them more to get a sense of how much a coin is worth in this market.
At that point, I know basically what I'm looking for when I get to a show and about how much I should expect to pay. Now is when I start shopping for eye appeal. When I find something, I ask "how much do you have on this?" If it's not too far off of what I researched coming in, it's a sale, if it's over, it depends on how much eye appeal there is for the grade... problems? etc... oh, and remember... problems don't go away after you buy the coin.
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
@rmorgan said:
I've been visiting local shows for three months now, and I'm still learning, so I'm still asking for advice. ..
When you find coins that interest you, how do you deal with pricing? Do you offer a price? Do you ask what he can do? How often do you just pay without haggling because you find the price reasonable? Is there some dollar amount or number of pieces at which you assume you should get a discount? What if the dealer is displaying coins with no asking price? ...Basically, how do you approach the purchase?
Pull out the trusty ole greysheet. Offer 10% back of bid and if they decline carry on to the next table. If it's a coin you really like it is acceptable to offer full bid. It's definitely a buyers market out there.
@bobsr said:
I set up at different types of shows a lot.
If I had a coin on the table price tagged at $100.00 and someone asked me for "My Best Price" I would respond with $1000.00. That's MY BEST price.
2nd responding to Pittstate03, If I wanted to purchase 3 coins, I would negotiate on coin 1 till I got what I thought was my best price, I would say Ok, I'm not sure, let's set this aside for the moment and look at this coin, negotiate on that one, arrive at a good price, set that one aside and negotiate on the 3rd one , after I had negotiated for the 3 , I would then start negotiations on all three starting with a comment like " I can't seem to make up my mind, take out a roll of cash, and ask how much for all three. If the dealer said $1000.00, I would count out $800.00, pause , look expectantly at the dealer and innocently ask " how much did you say" and wait, response $ 1000.00, lay down another $100.00 give the dealer the "snake eye look" ask How much? Response $ 1000.00, lay another $50.00 down, give a confidant stare that says I'm done , twinkle my eye , ask How much? Response $1000.00. I would casually say, thank you for your time, It looks like we WON'T be doing business after all, reach for my cash and sadly say, gee that's a shame as I just can't make up my mind. If I've been jovial throughout the negotiation, I've not one time ever left with the money in my hands.
I have alternatively gotten "The Snake Eye" look from several dealers as I've walked away but I was walking with the coins and a few more of My bucks still in my pocket. And truthfully, for $50 or $100, you can glare at me all day long.
Bob Sr CEO Fieldtechs
This sounds like terrible advice to me. Sure, if I am buying a car and likely never seeing the salesman again I would consider it, but buying a coin from a dealer I am likely to do business with again no way! Coin dealers do talk, and that sounds like a good way to make a bad name for yourself.
I agree 100%. You will be treated as you treat people for the most part.
I would much rather be in the dealer’s good graces. I have a much better chance to see the A material that never seems to make the case.
Plus the better the relationship the better the odds they know the look I want.
@illini420 said: "That said, if you're quoted a price you think is really fair or even a bargain, you should jump on it and don't give the dealer too much time to think about going the other direction with the price! This is especially true if you're cherrypicking a variety. Close the deal ASAP and be happy!"
...and make sure the coin is in your hand and you keep it in your hand!
I wanna LOL at this but I won't! Most collectors offering nice coins across the table at shows want at least greysheet these days! It takes pretty much a 20% margin these days IMHO to pay expenses. Will you sell your coins to a dealer for 30% back of greysheet? I pay well over greysheet for nicer tougher stuff!
@rmorgan said:
I've been visiting local shows for three months now, and I'm still learning, so I'm still asking for advice. ..
When you find coins that interest you, how do you deal with pricing? Do you offer a price? Do you ask what he can do? How often do you just pay without haggling because you find the price reasonable? Is there some dollar amount or number of pieces at which you assume you should get a discount? What if the dealer is displaying coins with no asking price? ...Basically, how do you approach the purchase?
Pull out the trusty ole greysheet. Offer 10% back of bid and if they decline carry on to the next table. If it's a coin you really like it is acceptable to offer full bid. It's definitely a buyers market out there.
@air4mdc said:
If the coins aren’t priced it’s for a reason. The dealer wants to size up his customer.
I find no other reason except for the dealer to use this tactic for his financial gain.
Always negotiate or “haggle” for what you believe is the best price your willing to pay.
Learn to walk away as well.
Use price guides ( Grey Sheet, PCGS and NGC) , EBay and auction houses as your price guides.
I don't price my coins because the prices change frequently, and I don't want to keep putting them in new flips or 2x2s. Nothing to do with "sizing up a customer". I let them know up front why there are few items with prices, and that if there is something they are interested in, to let me know and I will shoot them a price.
@jmski52 said:
It's my money and I figure that it's good anywhere, so if I like the coin I'll ask if he can take a bit less. If not, I thank him and tell him that I'll think about it for awhile.
If I do like the coin, I'll compliment him on the coin before I leave the table and walk away.
I'm then free to think about it and make a decision about whether I should come back and offer a different price, accept the price he quotes me, or simply move on.
This is assuming that the coin is still there. I have had several people want to look around, then come back realizing the price I asked was the lowest on the floor, finding that out too late.
@thefinn said: "I don't price my coins because the prices change frequently, and I don't want to keep putting them in new flips or 2x2s. Nothing to do with "sizing up a customer". I let them know up front why there are few items with prices, and that if there is something they are interested in, to let me know and I will shoot them a price."
I feel your pain and I probably would do the same thing. However, I normally will not look at any type of collectable including coins that does not have a price. I like to buy things that catch my eye and don't wish to waste my time or the dealers. If I see something special I'll ask and probably haggle.
@jmski52 said:
It's my money and I figure that it's good anywhere, so if I like the coin I'll ask if he can take a bit less. If not, I thank him and tell him that I'll think about it for awhile.
If I do like the coin, I'll compliment him on the coin before I leave the table and walk away.
I'm then free to think about it and make a decision about whether I should come back and offer a different price, accept the price he quotes me, or simply move on.
This is assuming that the coin is still there. I have had several people want to look around, then come back realizing the price I asked was the lowest on the floor, finding that out too late.
When I sold coins a long time ago, if someone who's attitude rubbed me wrong came back to buy a coin they had passed on previously, I told them it was sold! Didn't help the bottom line but it sure was fun.
@jmski52 said:
It's my money and I figure that it's good anywhere, so if I like the coin I'll ask if he can take a bit less. If not, I thank him and tell him that I'll think about it for awhile.
If I do like the coin, I'll compliment him on the coin before I leave the table and walk away.
I'm then free to think about it and make a decision about whether I should come back and offer a different price, accept the price he quotes me, or simply move on.
This is assuming that the coin is still there. I have had several people want to look around, then come back realizing the price I asked was the lowest on the floor, finding that out too late.
When I sold coins a long time ago, if someone who's attitude rubbed me wrong came back to buy a coin they had passed on previously, I told them it was sold! Didn't help the bottom line but it sure was fun.
I hate to admit it, but I have done the same. I have a good reputation for offering items at prices as fair as I can offer. I have a few customers that don't even ask me about prices. If they see something they want, they just tell me they will take it, or ask me to pull it and they will come and pay later. They don't even ask a price.
Here's an example of a negotiation that I did with a dealer who I like at the last show I attended:
Me: what's your best price on that coin?
Him: (after looking at his sticker and guide) $325.
Me: but greysheet ask is $260.
Him: And retail is $300. Can you do $275?
Me: sure, I can do that. (We shake hands and say thank you to one another).
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
Buy like a wholesaler and treat the bundle as close-out would get you the best deal.
But don't be a Jack@55 by offering 50% of whatever the seller quote if you're clueless of current market value.
@air4mdc said:
If the coins aren’t priced it’s for a reason. The dealer wants to size up his customer.
I find no other reason except for the dealer to use this tactic for his financial gain.
Always negotiate or “haggle” for what you believe is the best price your willing to pay.
Learn to walk away as well.
Use price guides ( Grey Sheet, PCGS and NGC) , EBay and auction houses as your price guides.
I don't price my coins because the prices change frequently, and I don't want to keep putting them in new flips or 2x2s. Nothing to do with "sizing up a customer". I let them know up front why there are few items with prices, and that if there is something they are interested in, to let me know and I will shoot them a price.
Thanks for mentioning 2X2 flips, I could see where this could be a problem and potentially increase the risk of a staple scratch. I had slabs on my mind when I responded to this post.
However, I feel not having a price on a coin at a show or online is a poor business decision. And it does enable a dealer to “size someone up”in a business transaction. I’m not saying this happens.
I’m also referring to coins worth several hundred dollars and up.
if someone who's attitude rubbed me wrong came back to buy a coin they had passed on previously, I told them it was sold! Didn't help the bottom line but it sure was fun.
Comments
Agreed. This reads like a “what NOT to do list”.
Recently, I've started looking more at auction house archives... the grey sheets are good snapshots in time, but the auction house websites can give you a sense of the over all trend for your particular coin. I'm coming to rely on them more to get a sense of how much a coin is worth in this market.
At that point, I know basically what I'm looking for when I get to a show and about how much I should expect to pay. Now is when I start shopping for eye appeal. When I find something, I ask "how much do you have on this?" If it's not too far off of what I researched coming in, it's a sale, if it's over, it depends on how much eye appeal there is for the grade... problems? etc... oh, and remember... problems don't go away after you buy the coin.
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Pull out the trusty ole greysheet. Offer 10% back of bid and if they decline carry on to the next table. If it's a coin you really like it is acceptable to offer full bid. It's definitely a buyers market out there.
The whole worlds off its rocker, buy Gold™.
I agree 100%. You will be treated as you treat people for the most part.
I would much rather be in the dealer’s good graces. I have a much better chance to see the A material that never seems to make the case.
Plus the better the relationship the better the odds they know the look I want.
Me: Would you take $x for this coin?
Dealer: No, I would take $y
Me: Not even if I threw in - this (whips out a bottle of Grey Poupon)
@illini420 said: "That said, if you're quoted a price you think is really fair or even a bargain, you should jump on it and don't give the dealer too much time to think about going the other direction with the price! This is especially true if you're cherrypicking a variety. Close the deal ASAP and be happy!"
...and make sure the coin is in your hand and you keep it in your hand!
I wanna LOL at this but I won't! Most collectors offering nice coins across the table at shows want at least greysheet these days! It takes pretty much a 20% margin these days IMHO to pay expenses. Will you sell your coins to a dealer for 30% back of greysheet? I pay well over greysheet for nicer tougher stuff!
I don't price my coins because the prices change frequently, and I don't want to keep putting them in new flips or 2x2s. Nothing to do with "sizing up a customer". I let them know up front why there are few items with prices, and that if there is something they are interested in, to let me know and I will shoot them a price.
This is assuming that the coin is still there. I have had several people want to look around, then come back realizing the price I asked was the lowest on the floor, finding that out too late.
@thefinn said: "I don't price my coins because the prices change frequently, and I don't want to keep putting them in new flips or 2x2s. Nothing to do with "sizing up a customer". I let them know up front why there are few items with prices, and that if there is something they are interested in, to let me know and I will shoot them a price."
I feel your pain and I probably would do the same thing. However, I normally will not look at any type of collectable including coins that does not have a price. I like to buy things that catch my eye and don't wish to waste my time or the dealers. If I see something special I'll ask and probably haggle.
When I sold coins a long time ago, if someone who's attitude rubbed me wrong came back to buy a coin they had passed on previously, I
told them it was sold! Didn't help the bottom line but it sure was fun. 
I hate to admit it, but I have done the same. I have a good reputation for offering items at prices as fair as I can offer. I have a few customers that don't even ask me about prices. If they see something they want, they just tell me they will take it, or ask me to pull it and they will come and pay later. They don't even ask a price.
Here's an example of a negotiation that I did with a dealer who I like at the last show I attended:
Me: what's your best price on that coin?
Him: (after looking at his sticker and guide) $325.
Me: but greysheet ask is $260.
Him: And retail is $300. Can you do $275?
Me: sure, I can do that. (We shake hands and say thank you to one another).
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
Buy like a wholesaler and treat the bundle as close-out would get you the best deal.
But don't be a Jack@55 by offering 50% of whatever the seller quote if you're clueless of current market value.
Thanks for mentioning 2X2 flips, I could see where this could be a problem and potentially increase the risk of a staple scratch. I had slabs on my mind when I responded to this post.
However, I feel not having a price on a coin at a show or online is a poor business decision. And it does enable a dealer to “size someone up”in a business transaction. I’m not saying this happens.
I’m also referring to coins worth several hundred dollars and up.
I fear you may never have sold a coin!
Nothing sells until the buyer and seller agree on a price. Sometimes the price on the sticker is acceptable, sometimes not.