Newbie question of the day

Okie

Do you negotiate purchase price with a dealer?

Do you just buy at the asking price if it seems fair, or do you use that as a starting point?

My stance is a fair price is whatever the buyer and seller agree to. Similar to buying a car or house. Am I wrong?

Outhaul

Yes
Yes
Nope

Russ

Yes.
Yes.
Agreed.

Russ, NCNE

paigowjohnny

Yes
Sometimes (but would not be a petty jerk in the negotiations if the dealer isn't gonna give)
Agreed

Lori

I asked the same question when I first started. My first visit to my local coin shop was exciting except I paid full sticker price on what I bought. I later asked the forum if I should make an offer on coins. Everyones answer, YES. Since then I make offers and get the coins for much less. Ocassionally they say they can not take any money off the price. It doen't hurt to ask, might save you a buck or two.

Lori

ldhair

Negotiate. Just be friendly. It's part of the fun.
It's nice to have both sides happy at the end.

I want the dealer to stay happy with our dealings.
I find this helps me get first pick when something really cool comes in.

jeffnpcb

Before you start bargaining, know what your after and write down several prices from the grey sheet and several retail values. The tough part on raw coins is being able to tell the grade regardless of what is written on the flip or 2X2!
Happy hunting and don't go in blind!

boz

Ask, Ask Ask!!!!! I just had a seller take $1000.00 off a coin. He admitted to wanting to make a killing on a KEY date Morgan.

cladking

Depends on the buyer and seller. Most sellers are happy to give substantial
discounts to people who are buying significant numbers of coins or coins of
great value. As a rule of thumb, never offer less than 50% to a dealer unless
you've done some business. Look at ones that you can almost pay his price
and make your BEST offer. It helps if you can start at full price on a few. Don't
bury yourself though because some sellers won't budge. I prefer to avoid ne-
gotiating and just offer my best price pretty much all the time, but will occasionally
bend a little to bail the dealer out of a mistake.

RGL

Find some local coin shops and let it be known you a nice guy and a serious collector ... start out with a few smaller purchases at full retail until they get to know you. After awhile, just innocently ask, even it the coin is marked, how much do you want for this? After awhile, at least in my experience once the dealer gets to know you, he automatically will quote you prices below "sticker."

fcloud

My first few visits to a store, I don't negotiate. Most dealers will automatically adjust the price down from what is marked.

One dealer I do enough business with, he just gives me his best price right off the bat (it is nice when you get to this point with a dealer).

I always bargin while at shows. If a dealer at a show won't budge, I'll move on, and try returning later, if the coin is still there, sometimes they are more willing to deal later in the day.


To make a long story short, you are right on all three accounts!