Slight variation on Lori's coin shop etiquette question...

MastaHanky

Lori asks if it's ok to haggle a bit with coin dealers. It's generally acceptable, especially when you have a strong relationship with the dealer you're working with.

But what about the case of Internet dealers?

For example, L & C Coins has a few coins on their website that I would be interested in, but they are priced a bit higher than what I want to pay.

Even though I have never ordered from them before, and most likely will never step foot in their shop, would it be unethical to call or e-mail them and see if they can do better on the price? E-mailing them seems impersonal...they won't know if the person they're dealing with is some punk who's trying to milk them or if they're genuinely interested.

Furthermore, whenever I negotiate, I usually ask for a better price, rather than making an offer that I feel is fair. It seems kind of odd e-mailing them to see if I can get a better price.

Opinions?

hjohn74

I've tried e-mailing a dealer concerning his/her prices. I did not have much luck; however, the dealer was very responsive. The coin happened to be $100 dollars over greysheet, so I asked if he would let it go for something less than $100 over greysheet. Needless to say, he turned my offer down and six months later the coin still sits on his website.

OnlyBuffalos

I think L & C Coins also has a coin shop. If you were in their store wouldn't you ask for a better price? Why shouldn't you ask for one if the only thing different is the method of sale?

Many internet sites, including L & C Coins, have a telephone number listed. Why not call them, ask if this is a good time to talk about some coins you are intested in, and if not when is a good time to call back.

Tell the seller who you are, your collecting interests, ask for more relevant information about the dealer, etc., and "bond" with the seller. At this point politely ask if there is some way you could get a better price on the coins you are interested in. If the dealer is reluctant, and he deals in coins you are interested in, you might also ask if he could offer you a better deal down the line if you purchase X-dollars in the future.

A slightly different approach especially if the possibility exists that you may want to make multiple purchases from this dealer because he sells coins that you collect, is to first purchase a coin at full retail, inspect it when it arrives and if it meets your criteria, then call the dealer and tell him that you are pleased with your purchase and potentially will do more acquisitions from him. At this point follow the scenario outlined in the previous paragraph.

If the seller has no phone, no store, send an Email and ask if a better price can be had. The worse that can happen is a deal cannot be struck. You still can purchase the coin if you like -- nothing lost. If it is a coin you must have but just do not want to pay the current price, wait it out. If the coin is still in his inventory, say 3 months later, try again. He may have changed his mind.

matteproof

While proper etiquette suggests that an offer should be thoughtful and researched, it is the one making the offer who determines what he is willing to pay. A Seller should be thankful when someone makes an offer for a coin they are offering. This is especially so when the coin is overpriced to begin with. If a Seller does not like an offer, he can either counter it or simply refuse it. Only a truly unprofessional Seller would become insulted by an offer (all he needs to do is simply reject it). Indiciations of interest are extremely VALUABLE unto themselves. I have found that Sellers who become insulted by offers are often the most outrageously LOW when making their own offers to buy. Beware of wolves in sheeps clothing.

matteproof

dwood

I've dealt with L and C before, only over the Internet and phone. They are fine folks, and I bet they'd happily entertain an offer. They are an excellent source for Lincoln prrofs, for those interested.

braddick

MastaHanky- The only change I'd make via email is instead of asking for a better price and leaving the negotiations open ended, I'd offer a firm price.
They're in the business of selling coins and you're in the "business" of buying them- they won't be insulted if you're within 10%- 20% of their asking price.

izzy452

I always haggle, what can you loose ? Generally 5 to 10% below their price is a good start. Works for me.


Walt

Barry

I've haggled with both David Lawrence and B&M over the phone. Never hurts to ask (politely).
Regarding L&C, I had a bad experience with them, getting cleaned/overgraded coins. No problem with the return.

tjkillian

I live only four blocks from their store and they don't take walk ins! You have to make an appointment with them. Their prices are higher than I'd like to pay. I've only seen them sell raw or modern slabs. Marginally friendly.

Tom

rkfish

Good question!

I buy and sell over the internet and "haggle" on both ends of the spectrum!
Sometime you may get a better price....sometime not! If it's a piece for my collection
it will be purchased even if the "price" stays the same......but I still ask.
A better price for me is great and if it's something I plan on re-saleing it makes
for a better price for my customer!

Personally, I think it's part of the business! but don't "expect" a better price
just because you ask.......but if you don't ask you'll never get one.

So yes! ask!