Dealers and Collectors Burning Bridges
ctf_error_coins
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Say your a specialty dealer and one client takes way, way more time to deal with than any one else ever. Very frustrating. As a dealer when is it time to cut the client loose. You may no longer have this client, but it may be worth the dealers time to do so.
Say you are a collector who constantly badgers a specialty dealer for a way, way better price, intense amounts of information that is easily visible in the coin image and just being a general pain in the ass. How would you feel if that dealer banned you and you now longer had access to their inventory.
Discuss.
3
Comments
It’s fine to fire an unprofitable client, but don’t expect said customer to ever see it your way.
Nothing is as expensive as free money.
I wrote this thread 8 minutes ago.
In the that time the "client" has emailed me 2 more times.
As a collector if I see a dealer with unreasonably high prices I will just move on without inquiry. Only once have I sent a message on eBay about a coin that was wayyy overpriced and they ended up just removing the listing.
As a dealer I think if you have a "problem customer" you should politely, yet without uncertainty, inform them that your prices are what they are and a best price is a best price. A reasonable person should get the message.
Collector, occasional seller
>
LMAO
In today's internet world it is far too easy for both a collector-customer and a dealer to be poor at communicating and giving feedback to the other party. Maybe use the telephone more or some in-person communication when possible.
Sometimes I have to dismiss a patient for whatever reason, and I have never regretted it.
Collector, occasional seller
What seems to work for me, If I give an offer and it is rejected or expires, I just raise the BIN price which results in a sale. Odd but true.
@ErrorsOnCoins Have a little fun - try raising the price of the coin.
This works for sure.
You have to consider how much your time and sanity are worth. The bigger the client, the more you might be willing to put up with.
You should probably part ways since you are sufficiently bothered to ask the question here.
Just be courteous but firm in your dismissal and I think you will sleep better at night going forward!
With a time leach, I'd firmly explain the situation once, and then if nothing changed I'd put a quick end to the relationship. It's just a business decision and doesn't need to be rude or more personal than you want it to be.
It may depend on whether there are any potential knock-on effects. How influential is the client within your customer base? Would cutting that client loose inadvertently lead to the loss of other, more valuable, clients?
Smitten with DBLCs.
They say the customer is always right. But..... do not feel bad to sell to whomever you want to. It's your business. Quietly ignore or use the standard brush-off, "I'll see what I can do" Do not waste anymore time on this customer...not worth it.
If I were that customer, I would tire of waiting for a response and eventually pester some other dealer.
Amen brother!
It's not so much that I'm unwilling to try to help certain people, but the time they consume means that we turn away three or four others. Logic dictates the correct course of action.
x
And you likely netted less when factoring in your labor time.
"Got a flaming heart, can't get my fill"
Always another dealer, always another customer. Both sides need to realize they aren't essential.
Yes time is a major factor with this one client, altho still profitable.
Just wait 'til he returns it.
I never get returns, seriously.
I sell coins people want to keep.
Yet, when the pain exceeds the pleasure…..
"Got a flaming heart, can't get my fill"
Border line right now. I think he knows he is on the edge.
I will keep him for now, he is a repeat PITA profitable customer.
You deal with 1 of 1 coins.
It might cost more to replace the coin.
Then again how hard is he to replace in a niche like errors.
I once stood in awe of a seller at the booth of a flea market coin dealer. He tried down to the last fifty cents to gain a victory on some common date gold. The dealer held his ground much to the anger of the seller. Seller was from another country so I just chalked it up to cultural and begrudgingly admired his skills.
I would have given him the last $10 to just go away, but that day was not his day.
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Replacement cost for error coins have certainly gone up quite a bit in the last few years.
I know I can not replace a 1 of 1 coin, but I can buy another error type altho my cost on those have inflated.
I've had a few hagglers. One was particularly bothersome by repeatedly asking if I could go lower on the price. My response?
"I can go higher."
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Well if I was the customer you’re referring too and saw this thread posted you would not have to worry about my business relationship with anymore .
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I think it is possible to sever a business relationship calmly and with tact. You can't predict how the moment is received. Resentments are a weird dynamic of human nature. Unreasonable customer idiosyncrasies are the challenge of every business model. Good luck. Peace Roy
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I considered that and he may be on here. If so, then Hello.
He does want to buy more from me but he was playing games.
I do not play games.
He now knows that gaming me will cost him.
Except when you raise the price out of spite after a potential buyer fails to accept your offer.
Not out of spite. I reevaluated the coin and thought it deserved a higher price. It is really nice.
I also have higher inflation costs and a higher cost to acquire new (replacement) inventory.
This client also was taking up way too much time in comparison to every other client. My time is not free. I had to price my time into that coin.
It was never about spite.
Are those emails about this thread?
Yeah, they're bitching now wait till they see their face haha
No, funny guy.
I did do an email search for that client. There are over 80 emails from him and many of those have multiple responses.
He has ask the best offer on over 20 coins (I do not offer the best offer feature) and I think never took any offer. Always tried to negotiate on my best price. My best price is my best price, period.
He has bought maybe 3 coins from me.
I spent 20 years as the GM of a 1 of 7 International Heavy Truck dealerships. I constantly had meetings with the owners in this very regard, never won the argument. I tried to make them understand that we were better off with 50 customers buying 1 truck than 1 customer buying 50 trucks. But they continued to pander to the 50 truck customers, not many, but enough that we made very little money on the sale of the truck, maybe 10% on parts and had to give service calls left and right at no profit to us. Whereas, the 50 single truck customers allowed us to make a fair profit on the sale of the truck and 25% or more on the parts and service calls. We also spent tons of money on the presale for these multi truck deals. Do not get me wrong, if as a seller you were making reasonable profit on the large customers sobeit, but we never did. Also, if the large customers became angry over some small thing and left us, we then had to go out and search for the single truck business which we lost kowtowing to the biggies. There are many variables that can change the situation, such as, rebates from Navistar for the over 50 and over 100 truck sales, if you sold 3000 or so trucks a year, which we hardly ever did. There were other benefits such as being able to buy tractor trailer loads of clutches, rearends, transmissions if you were a leading dealer. But I still would rather have the majority of our sales being onesies and twosies than 50. JMO
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
I think this is a decision you need to make for yourself. Every person is entitled to decide who they deal with and who they do not - from either side of the counter.
I am a newer collector (started April 2020), and I primarily focus on U.S. Half Cents and Type Coins. Early copper is my favorite.
Is the error you are discussing the cool 25c off center on straight clip that you had offered for months at $3,500 bin that you recently adjusted price up to $5,000 bin ?
no, the OC on str8 clip was priced up because of absolute rarity and eye appeal.
After watching the recent Heritage Auctions, I beginning to think all of my coins are underpriced.
Errors are cool !
One of these days I might part with some.
It's expensive to buy and hold, though varieties I have been lucky to find I had the foresight to sell sell sell...
... & then buy more errors !
Is this an ebay buyer?
If you're getting a lot of grief before the sale, just think when he owns the coin and you get to deal with after the sale customer service and request for price adjustment and subtle feedback extortion.
Oh what fun.
The best way to put the brakes on this guy is to hold back on answering him for a day or two. When you finally get around to him on YOUR time you can let him know your busy with other customers and your time is very limited. The reason I know this is because I used to be that guy. We live and learn. Self-centered people take around 50 years or so to come around. I'm getting there.
I noticed you referred to the person as a client. That tells me you have made other deals in the past. I have a client who I sell high end fishing tackle to. Our first deal was five figures and no lie it took 8 months of calls, emails, in store hours to close the deal.
This client of mine has very deep pockets but enjoys the negotiation. It sounds like your client enjoys the negotiation. Schedule a specific time for your client to talk in depth about the coin. Also plant seeds in your client's mind about future purchases. This is SALES...not retail when dealing with a client like this. Praise his taste in coins...but remember good taste costs..just like a fine bottle of wine.
I think if you put in the work with this client your time will be well compensated.
You should try working a coin show table for a major grading service.
Inflation costs?
I had recalled the same thing.
Ooops.
I knew that would come up.
That was over a year ago. Many many things changed since then and we are now back to deflation from high inflation.
I was wrong about inflation and I can admit I was wrong.
People forget the rest of the adage, "the customer is always right in matters of taste"
Not sure I see the big deal
Email is for convenience
Flag it and get back to it if and when you want
I made an offer to a seller on eBay for $310. He countered at $370. I came up to $350 thinking this would get it done. He countered at $375 (went up on his counter) I emailed and asked why he countered up?, but went ahead and moved my offer up and he then moved his counter up higher to $380. Seemed to completely negate the normal negotiating process so I just declined and moved on. From his perspective, he must have decided his time to reply to me was causing the price to increase. Ok but he lost the sale. Coin is still just sitting there.
More than once, I've declined an offer and the prospective "buyer" came back with a lower offer. Who knows what people are thinking?
It's all part of the bs of being in business.