@MasonG said:
How often does a seller ask for an offer but not have any idea about what they're willing to accept in mind? I'd bet practically never.
I see it a lot with estates. It's probably less common with collectors at shows.
Believe it or not, sometimes the best way to lose a purchase is to offer too much.
If you have someone who doesn't really know what their coins are worth but has some kind of ballpark in mind, if your offer is MUCH higher than what they are thinking, they suddenly want to do more research.
All comments reflect the opinion of the author, even when irrefutably accurate.
@sparky64 said:
After a lower than expected offer I told him I wasn't sure, thanked him and left. I returned 15 minutes later ready to sell and he wasn't happy, offered even lower because he said said I was probably trying peddle it around the bourse.
This just seems spiteful on the dealer's part. If it was a good coin at that price 15 minutes ago, it should still be a good coin at that price. Of course, we are human beings and emotions dictate (or at least influence) most of our decisions.
It might not have been spiteful. Often, buyers - collectors, as well as dealers - make fair offers, which are subsequently shopped around. And the seller ends up selling out the person who’d made the Initial fair offer.
For example, dealer #1 offers $2000 for seller’s coin and seller passes. Seller shows the coin to dealer #2 and trying to rip it, dealer #2 offers $1000. Seller tells him that dealer #1 had just offered $2000, so dealer #2 raises his $1000 offer to $2025. Seller decides to sell the coin to dealer #2.
Dealer #1 had made a fair offer, that was used against him by the seller and by dealer #2 (who had not made
a fair offer, initially). This is not an uncommon scenario. Depending upon the situation, I think it’s better if a dealer making an offer lets the seller know that the offer is good, only while the seller is at the table, on the phone, in the shop, etc.
I've had that happen to me a lot. I tell people to get a quote from another dealer without telling them what I offered - that way they can tell if the other dealers are being fair. It helped to have people bring items back and sell to me.
Comments
How often does a seller ask for an offer but not have any idea about what they're willing to accept in mind? I'd bet practically never.
I see it a lot with estates. It's probably less common with collectors at shows.
Believe it or not, sometimes the best way to lose a purchase is to offer too much.
If you have someone who doesn't really know what their coins are worth but has some kind of ballpark in mind, if your offer is MUCH higher than what they are thinking, they suddenly want to do more research.
All comments reflect the opinion of the author, even when irrefutably accurate.
So much drama. Glad I don’t go through all these scenarios.
I've had that happen to me a lot. I tell people to get a quote from another dealer without telling them what I offered - that way they can tell if the other dealers are being fair. It helped to have people bring items back and sell to me.
They have all happened to me. It's not speculative.
All comments reflect the opinion of the author, even when irrefutably accurate.
Never said my post was directed to you.