what would you do?

mbbiker

When i was at my local dealer today and asked if he had any proof ASE's in stock he pulled out a few 2000's and a few 2002's . i asked him what he wanted for the 2000 and he said 19.95 at that price i jumped on it and asked him to hold if for a few minutes while i ran home to get some cash (i forgot my wallet) When i got back about 20min. later and was going to pay for the coin he rang it up at 32.00. I asked why and he said he looked it up while i was gone and desided he didn't want to get rid of it for 20. is this good business practice? I know i'm never going to shop their again but i was wondering if this happens alot or if it's just him.

cladking

The fact you won't shop there again answers your question.
In all business a seller is expected to honor his quotes and
this goes double in coins.

Placid

Not good business practice in my opinion.
No idea if it happens often.

I would look at something he has that is expensive and tell him you need to go to the bank and get the money to pay for it.
Let him think about the juicy profit he's going to make for awhile then call him up and say you looked it up in your book and decided not to pay that much for it and hang up.

FatMan

My first instinct is that he gave you a price and he should honor that price. However, the reason you jumped on it is that the price was too good to be true and I think you knew it. If he is selling Proof ASEs at less than $20 he isn't going to be in business very long. He should have told you when you came back that he did some checking and he gave you the wrong price. He was wrong to ring it up without telling you the price adjustment in advance.

I'm a business owner (not a coin dealer), and if I were in his shoes I would have tried to split the difference with you. If you didn't bite I probably would have honored the original price. $12 is a small price to pay for the goodwill it would have created. Instead, he has lost the sale and apparently your potential future sales. As well as the sales of the people who you tell your story.

stman

Placid...LOL, now that sounds like something I would actually do.

relayer

I like Placid's idea! Do it!

nwcs

Personally, I believe that to be unethical and bad business. He should honor his original quoted price since that is what he wanted to sell it for. I wonder if he raised the price when he saw you go home for money thinking he could get more out of it?

Wisconsin

My local dealer is the same way. I haven't been there for 10 years either. I guess they can run the business however they see fit, but will just lose some great customers in the process.

Cameo CC

You are only as good as your word - sounds like this local dealer's word is suspect.

Todd

ricko

Mbbiker, The dealer was actually within his rights.. (in most states) to change the price once you left the premises. He was obligated to sell it at the quoted price as long as you were present. Ethically, and from a perspective of customer retention, he should have honored the price... for one coin. I agree though, no return business. Cheers, RickO

hookooekoo

IMHO, the moment you returned to the dealer's shop, he should have admitted his mistake and AT LEAST offered to sell you the coin at no more than his cost.

I do not think it wrong of the dealer to change his price once he realized he made a mistake (quoting a price at below his cost). It can even be argued that you were wrong for trying to take advantage of a dealer's mistake. But there is NO EXCUSE WHAT SO EVER to quote one price, and then ring the purchase up at a different price without some explination FIRST.

drsvenghali

Another reason I only buy supplies (2x2s, safe flips, etc.) from the local dealers.

ccrdragon

He definitely should have explained the problem to you before ringing up the coin and I agree with you - I'd never
set foot in the store again!

Mrpawn

As someone who buys from the public and sells to the same public, I would have honored my quote on the coin even after discovering my error. If you came back with $100.00 asking for 5 (you implied you asked him to hold 1, if I recall) I still would honor the quote for the 1 you asked me to hold and explain the discovery of my error and renew negotiations for any more that you might want. If you had asked for more to be held at that quote and I had agreed (before discovery of error) I still believe that the quote should be honored.

Customer relations are of utmost importance to small business and ethics and honor come into play in this situation as well.

Very unethical to ring up a higher charge on cash register than previously stated. I can understand mistakes and different ways of dealing with them, but actually ringing up a different price than discussed would be business suicide in my area.

Just MHO,
Jr

Dog97

To save keystrokes I agree with Placid & FatMan. Both make good points.

tjkillian

I, for one, would not go back to that dealer. He should have, at least, sold you one for the agreed price. Now if you wanted to buy a hundred, that would be a different story.

Tom

airplanenut

He's cheaper than I am... good ridance!

mbbiker

Update - placid thanks for the great idea

I stopped in today and he had a nice 1928 MS-66 saint for sale (his grading not mine) i asked the price and he said for me only $1,500 sticker price was $2100 i told him to hold it so i could go to the bank pick up some cash and buy it. about 2 hours later i stopped in again (you should have seen the smile on his face) looked at it for a few minutes and desided not to buy it because it wouldn't look good with all my 63's and 64's. Man was he Pissed. It was a blast, last time i go there though, i don't think i'm welcome anymore.

I don't have any saints yet but it fit in so well because if it were to get graded it would grade a 64 (on a good day)

Spooly

You guys are all nuts!

UncleJoe

While I don't condone what the dealer did, he certainly was within his rights.

Opportunity must be combined with preparation and you weren't prepared.

Does everyone else go shopping without money?

I don't think that is how business should be conducted. Your first mistake was shopping without money, your second mistake was asking him to hold the coin.

What do you think he was going to do when you left the store? I have had dealers re-look up prices while I'm standing there let alone if I should leave the premises.

Instead of asking him to hold the coin, you should have just went home, got your money and returned. By showing interest in the coin you just know he had to look it up while you were gone. (I am of course assuming that the price quoted would have still been a profit for the dealer, just not as big a profit)

With all due respect to those that suggested asking for and then canceling the sale of another coin, while it probably felt good at the time, was just childish and does not speak well of one's character.

Learn from the experience, don't sink to someone else's level.

(Can someone lend me one of those heat resistant suits?) Joe.