When selling to a dealer, should you sell all at once, or slowly feed him the coins?
Longacre
Posts: 16,717 ✭✭✭
When selling coins to a dealer, what factors should you take into consideration in terms of timing (let's leave credit worthiness out of the mix for now)? For example, say you have 5 coins worth $10,000 each. Do you think you get a better deal if you slowly sell the coins individually to the dealer, or is it best to sell all 5 at once for $50,000? I would think that it also depends on the dealer. If you are dealing with a smaller dealer, he might not want to put out $50,000 for one deal, and might appreciate being able to buy one coin at a time, selling it, and then buying the next one from you. I assume that if you sell to a large organization like Heritage, then it might not make a difference because the buyers at Heritage probably have trouble seeing over the mountains of money available to make coin purchases. Does anyone have any thoughts on what is the better approach and whether the timing/quantity of your sales affects the kinds of offers you get?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
People tend to want deeper discounts on groups of coins so counterintuitively the sum of the parts will probably bring more than the whole.
Also, many mainstream dealers I've had private coversations with are moving away from "expensive" inventory that they need to sit on for a long time to make a profit. Instead they're moving to things that are more liquid so as not to have empty kegs with no dry powder
if you go to try to sell coins to a coin buyer that does not have the capital,resources/contacts you will never get what you want and it will be a hassle
if a coin buyer truly is a dealer with buyers he can and will come up with the monry and if your offer is fair and you got good scarce in demand coinage to sell then you will have no problems selling your coins for waht you want as long as it is a fair martket price and also priced at where the dealer came also make some dollars
this is why it is the ultimate thinb to buy from an advanced collector that has good truly scarce choice coinage
and this scenerio i have personally seen and experienced many MANY times over in the coin game
so only collect undervalued opportunity classical coinage with GREAT EYE APPEAL and you will do well
if you do not believe me just read q david bowers new book from whitman
the experts guide to collecting rare coins
eliasberg ford and pittman did it so can you!!!!!!!!!!!!!!!!!!!!!
TorinoCobra71
"Feed Him Slowly"
<< <i>if you do not believe me just read q david bowers new book from whitman
the experts guide to collecting rare coins
eliasberg ford and pittman did it so can you!!!!!!!!!!!!!!!!!!!!! >>
I think David was teaching this same lesson over thirty years ago.
I used it for the most part and the hobby has been very kind to me.
As far as selling to a dealer, I have found that groups create more interest.
Can also see that some deals may be to big for a dealer.