@MFeld said:
When someone asks me for my best price, I give it to them. The problem is, if the person doesn’t know me and how I do business, they don’t believe me. At least, not at first. 😉Here’s a real-life experience...
Many years ago, when I was working for Pinnacle Rarities, we were at a Long Beach show. A dealer stopped at our table and asked me for my best price on one of our coins. I quoted him my best price. He countered. I declined his counter. Over the course of the next day or so, he tried at least three more times to buy the coin for less than my best price. He was unsuccessful each and every time. Finally, he asked me why I wouldn’t budge on the price. I told him something to the effect that “I realize you didn’t know me before now, but when someone asks for my best price, I give it to them.” He bought the coin at my original “best price” and while we didn’t do a lot of business, he didn’t counter my “best price” again. 😉
I am frequently asked my best price which I will gladly give. Sometimes it might be the list price, but whatever comes out of my mouth is the best number. On more than one occasion I've been at a show and have encountered Mark's experience. Politely repeating my best price multiple times and politely declining multiple counteroffers can get aggravating. I once lost my patience and the guy came back to the table for probably the fourth time. When he asked again, I raised it $100.
Did he pounce on it, before you raised it another $100?😄
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I think where there is miscommunication between us is regarding the adjective "best". If you ask for a price (not best) then you can counter as you wish (in my view). You can say "will you take X" assuming you are willing to buy it at that price. Or, you could ask "do you have any room in the pricing?" which the dealer can open the door to ask what is your offer.
Of course, before even engaging in pricing, you should have some idea of a range that is acceptable to you. If the coin is especially nice, the dealer will have it priced accordingly and this coin may be outside of your anticipated range.
This is my experience from attending many large shows.
Thanks for the explanation. As I said, I never go to shows so I defer to you and others who do to know what's the proper etiquette for buyers and sellers alike. I agree that a seller should stick by what he says and if you ask him for a price and he gives you one and you guys haggle, that's cool and it gives the seller a chance to decide what he wants to let it go for at that moment. If he says it's his best price, then he shouldn't move down from it and the buyer shouldn't ask him to.
@abcde12345 said:
For me it is when a dealer or collector spells Nickel, "Nickle".
It's when a dealer or collector states in a thread, "AT!" when the coin is naturally toned.
It's when a new collector asks for an opinion. A dealer will offer insight that is logical.
This new collector will then argue needlessly in opposition (when everyone else reading the dealer's opinion knows he is correct).
An example of this is a coin that is post-mint damaged and the new collector believes he has the find of the century and when a seasoned dealer states why this isn't so, will bicker back instead of showing a semblance of gratitude.
Yours?
I don't think that all hat and no cattle refers to any of these things. To me it means a coin dealer [or anyone for that matter] who is a million dollar dealer wannabe. I got 10 ms 1893-S Morgans in the safe back home when in reality all he has is a roll of circ 1881-S coins. Just a big blowhard. Has not much to do with his her knowledge, but their inventory, finances and connections. Most of what's being described is better categorized as Ahole.
The phrase equates to "All talk, no action".
Misspelling nickel hardly fits that description. In fact, none of the 5 things in the OP fit that description.
I agree, but think it's been a good thread as its evolved.
I wish I had a nickle for every time someone misuses "its" vs. "it's"...
Misspelling nickel hardly fits that description. In fact, none of the 5 things in the OP fit that description.
When I conceptualized this thread it was more thinking in lines as a collector (I've never been a dealer). I am pleased though this thread as morphed into a topic that is more interesting and revealing though.
@abcde12345 said:
For me it is when a dealer or collector spells Nickel, "Nickle".
It's when a dealer or collector states in a thread, "AT!" when the coin is naturally toned.
It's when a new collector asks for an opinion. A dealer will offer insight that is logical.
This new collector will then argue needlessly in opposition (when everyone else reading the dealer's opinion knows he is correct).
An example of this is a coin that is post-mint damaged and the new collector believes he has the find of the century and when a seasoned dealer states why this isn't so, will bicker back instead of showing a semblance of gratitude.
Yours?
I don't think that all hat and no cattle refers to any of these things. To me it means a coin dealer [or anyone for that matter] who is a million dollar dealer wannabe. I got 10 ms 1893-S Morgans in the safe back home when in reality all he has is a roll of circ 1881-S coins. Just a big blowhard. Has not much to do with his her knowledge, but their inventory, finances and connections. Most of what's being described is better categorized as Ahole.
The phrase equates to "All talk, no action".
Misspelling nickel hardly fits that description. In fact, none of the 5 things in the OP fit that description.
I agree, but think it's been a good thread as its evolved.
I wish I had a nickle for every time someone misuses "its" vs. "it's"...
Thanks and its (😉) been edited.
New contraction and use of it's to mean "it has" instead of "it is;" my mind is totally blown.
I used to set up next to Arnie Margolis of Error Trends Coin Magazine
at FUN shows.
He would have someone ask about a coin in his case, he'd price it,
(let's say it was $40), and when the 'buyer' would say "What's Your
Best Price?" he'd say "$45 - you didn't say best for who, so that's best
for me"
It actually brought a smile to their faces, and opened the door for
a bit of conversation, banter, and a deal in many cases.
Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
@abcde12345 said:
For me it is when a dealer or collector spells Nickel, "Nickle".
It's when a dealer or collector states in a thread, "AT!" when the coin is naturally toned.
It's when a new collector asks for an opinion. A dealer will offer insight that is logical.
This new collector will then argue needlessly in opposition (when everyone else reading the dealer's opinion knows he is correct).
An example of this is a coin that is post-mint damaged and the new collector believes he has the find of the century and when a seasoned dealer states why this isn't so, will bicker back instead of showing a semblance of gratitude.
Yours?
I don't think that all hat and no cattle refers to any of these things. To me it means a coin dealer [or anyone for that matter] who is a million dollar dealer wannabe. I got 10 ms 1893-S Morgans in the safe back home when in reality all he has is a roll of circ 1881-S coins. Just a big blowhard. Has not much to do with his her knowledge, but their inventory, finances and connections. Most of what's being described is better categorized as Ahole.
The phrase equates to "All talk, no action".
Misspelling nickel hardly fits that description. In fact, none of the 5 things in the OP fit that description.
I agree, but think it's been a good thread as its evolved.
I wish I had a nickle for every time someone misuses "its" vs. "it's"...
Thanks and its (😉) been edited.
New contraction and use of it's to mean "it has" instead of "it is;" my mind is totally blown.
At the end of the day each is acting in their own best interest, emotion just gets in the way of a potential sale or purchase
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@ReadyFireAim said:
Talking to a dealer is like asking a drunk person for directions.
It might be entertaining but it's probably not worth the effort.
My purchases all come from auctions.
It's probably where the dealer's coins end up after the show anyway.
If you really feel that way, you need to get out more. There are lots of lousy dealers, as well as great ones and everything in between. Just like in other professions.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@ReadyFireAim said:
Talking to a dealer is like asking a drunk person for directions.
It might be entertaining but it's probably not worth the effort.
My purchases all come from auctions.
It's probably where the dealer's coins end up after the show anyway.
The only difficulty with this thought process are the coins you miss out on. If you carry your logic to
the next level, the coins being auctioned off are the coins all other collectors passed on at the shows.
Strike up a relationship with a dealer (or two) and watch your world of collecting enhance as really the relationships we build
with other like minded individuals pays off in dividends you never can achieve otherwise.
The few times I have bought coins from dealers at shows, I have looked through their coins, picked the ones I like, most of the time the prices is marked, I ask for his best price, if the best price is lower than his marked price, I am happy and buy the coins. I know I may be over paying, but I am not buying super duper expensive coins and I have a pretty good idea of what the coins are worth, so I don't mind over paying a little. Less stress this way.
@MrEureka said:
The first thing that comes to mind is when a potential buyer asks for "the best price" and responds to it with "I'll think about it". A serious buyer doesn't ask for the best price until he's ready to make a decision on the spot.
I had a bunch of 90% for 15 face on Ebay and all I got was questions on my best price.
My best price is 5 bucks back of everybody else.. holy crap. Like how greedy can you be if 25% back isnt enough? I'm happy to block people like this.
How it really goes...
Dealer rips some widow.
Sends coins to PCGS & then through the CAC machine.
Makes a guess who will pay the most & runs down the line from fat cat to sucker.
Attends a show and schleps them around hoping for a miracle.
Sells them at an auction for hot dog money.
@ReadyFireAim said:
Talking to a dealer is like asking a drunk person for directions.
It might be entertaining but it's probably not worth the effort.
My purchases all come from auctions.
It's probably where the dealer's coins end up after the show anyway.
Just out of curiosity, what is your profession?
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
My experience with dealers has been largely positive. If they take the time to talk and are engaging I am more likely to buy something from them. If they blow me off, it is there loss because I am there because I have money to spend on my hobby
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@Crypto said:
I can't believe that there are some (want-to-be) dealers on here that brag about rips and what not. Even if it is off Ebay, If you'll rip off other sellers especially normal people just moving coins, you'll rip off your customers. Even if you see it as open combat, it shows low IQ and morals to brag about it and then to brag about threatening to sue the seller if they backed out of you ripping them off. The type of guy who gets smacked around in real life so they pick on the weak. No respect as a dealer or a man for those types.
Remember that guy who bragged about getting a 1oz Gold Eagle at a garage sale for under face value? I'm glad he didn't stick around.
Comments
Did he pounce on it, before you raised it another $100?😄
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Thanks for the explanation. As I said, I never go to shows so I defer to you and others who do to know what's the proper etiquette for buyers and sellers alike. I agree that a seller should stick by what he says and if you ask him for a price and he gives you one and you guys haggle, that's cool and it gives the seller a chance to decide what he wants to let it go for at that moment. If he says it's his best price, then he shouldn't move down from it and the buyer shouldn't ask him to.
Successful BST transactions with: Cameonut, Rob41281
Virtue is it's own reward...
When I conceptualized this thread it was more thinking in lines as a collector (I've never been a dealer). I am pleased though this thread as morphed into a topic that is more interesting and revealing though.
New contraction and use of it's to mean "it has" instead of "it is;" my mind is totally blown.
I used to set up next to Arnie Margolis of Error Trends Coin Magazine
at FUN shows.
He would have someone ask about a coin in his case, he'd price it,
(let's say it was $40), and when the 'buyer' would say "What's Your
Best Price?" he'd say "$45 - you didn't say best for who, so that's best
for me"
It actually brought a smile to their faces, and opened the door for
a bit of conversation, banter, and a deal in many cases.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
I can’t take credit for that. See here: https://speakspeak.com/grammar-articles/its-is-has-difference
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
At the end of the day each is acting in their own best interest, emotion just gets in the way of a potential sale or purchase
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
Talking to a dealer is like asking a drunk person for directions.
It might be entertaining but it's probably not worth the effort.
My purchases all come from auctions.
It's probably where the dealer's coins end up after the show anyway.
My Saint Set
If you really feel that way, you need to get out more. There are lots of lousy dealers, as well as great ones and everything in between. Just like in other professions.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The only difficulty with this thought process are the coins you miss out on. If you carry your logic to
the next level, the coins being auctioned off are the coins all other collectors passed on at the shows.
Strike up a relationship with a dealer (or two) and watch your world of collecting enhance as really the relationships we build
with other like minded individuals pays off in dividends you never can achieve otherwise.
The way it frequently works is...
The few times I have bought coins from dealers at shows, I have looked through their coins, picked the ones I like, most of the time the prices is marked, I ask for his best price, if the best price is lower than his marked price, I am happy and buy the coins. I know I may be over paying, but I am not buying super duper expensive coins and I have a pretty good idea of what the coins are worth, so I don't mind over paying a little. Less stress this way.
I had a bunch of 90% for 15 face on Ebay and all I got was questions on my best price.
My best price is 5 bucks back of everybody else.. holy crap. Like how greedy can you be if 25% back isnt enough? I'm happy to block people like this.
I mean, I get it, tho. But come on.
.
.
How it really goes...
Dealer rips some widow.
Sends coins to PCGS & then through the CAC machine.
Makes a guess who will pay the most & runs down the line from fat cat to sucker.
Attends a show and schleps them around hoping for a miracle.
Sells them at an auction for hot dog money.
My Saint Set
Just because you think something is so doesn't make it so. Sorry to hear you have had so much trouble with coin dealers.
Just out of curiosity, what is your profession?
My experience with dealers has been largely positive. If they take the time to talk and are engaging I am more likely to buy something from them. If they blow me off, it is there loss because I am there because I have money to spend on my hobby
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
Don’t encourage him! 😂
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Remember that guy who bragged about getting a 1oz Gold Eagle at a garage sale for under face value? I'm glad he didn't stick around.
Collector, occasional seller
My Saint Set
I am from a farm state and never heard this phrase. Look forward to using it though. Reminds me of my favorite golf phrase:
Dresses 70. Talks 80. Shoots 90.
"Look up, old boy, and see what you get." -William Bonney.