Have you ever avoided selling a coin just to spite a bottom-feeder?

Longacre

Has anyone had to sell a coin (for financial reasons or some other reason), and then decided against it, just to spite a "bottom feeder" who was trying to get a sharp deal on the coin? In my day job (other than posting on these boards ), we are in a joint venture with a partner that we can't stand. The JV partner wanted to buy us out. My COO said although we are losing money like crazy, and we would like to get out of the JV, he just refuses to sell to our partner because they are "bottom feeders". Does anyone have a similar experience in the coin context?

Myqqy

You mean like keeping "nice" kennedies instead of selling them to Russ?

robertpr

Russ isn't a bottom feeder, he's a wannabe.

jdsinva

I had some raw CC Morgans I took to the coin club to try and sell in the club auction. I wasn't looking to get rich, just to try and make a little money and give some other collectors the opportunity to get some CC Morgans below retail. Unfortunately I had no takers at my reasonable prices. Afterwards, another club member approached me and wanted to buy them for $25 less each than what I had on them. I told him my original prices were quite generous for the coins and that I'm going to sell them on eBay for even more money since no one wanted a bargin at the coin club. I did sell the coins on eBay and each one brought about $50 more than for what I originally tried to sell them.

pharmer

<< <i>Has anyone had to sell a coin (for financial reasons or some other reason), and then decided against it, just to spite a "bottom feeder" who was trying to get a sharp deal on the coin? In my day job (other than posting on these boards ), we are in a joint venture with a partner that we can't stand. The JV partner wanted to buy us out. My COO said although we are losing money like crazy, and we would like to get out of the JV, he just refuses to sell to our partner because they are "bottom feeders". Does anyone have a similar experience in the coin context? >>




No. Sounds like an attitude that may have some relationship to the "we are losing money like crazy" situation.

longtimecollector

Hey.... I lose money on EVERY sale........... BUT........... I make it up in VOLUME !!!!!

Barry

1. If you did some work rather than post all day, your company wouldn't be losing money.

2. I didn't know lawyers called each other bottom feeders.

(edited for typo)

kranky

At a show once, I was browsing a table and at the next table over, I overheard a customer trying to negotiate down the price on a coin. Dealer quoted $80 and the customer went into a lengthy analysis of the coin's faults and said he couldn't possibly go more than $55. Dealer said $75 was the best he could do on the coin. The customer went through the same long laundry list of problems with the coin, and then said he would be willing to go $60. The customer made it sound like the coin was one step up from melted slag.

The dealer said OK, how about $90? The customer complained that was higher than the original quote. The dealer came back with, "Yes, but you've insulted my coin so badly I need additional compensation for emotional suffering."

RYK

The customer complained that was higher than the original quote. The dealer came back with, "Yes, but you've insulted my coin so badly I need additional compensation for emotional suffering."

Longacre

<< <i>1. If you did some work rather than post all day, your company wouldn't be losing money. >>




Overall the company (including JV losses) has $150 billion in revenues. Our actual tax rate is a mere 17.4%, and my segment's tax rate is a tiny 10.8%. Most individuals pay higher rates than this, on much smaller incomes. I think I am doing my job.