Responding to dealers offers.....

Cockney

I hate haggling....my question is......assuming a dealer is asking $1000., whats a reasonable offer (by percentage) that wont be considered offensive?

goose3

who cares? do they care if they offend you with their ridiculous offers?


Seriously though if I find something I like and want that a dealer or even a forum member has, I will politely ask them their best price on the item, delivered/insured.

Regulated

I always base my offer on what I think the piece is worth; to wit, if I think something is worth $1,000 to buy and it is marked $1,000 or under, I buy it.

DaveG

I think it really depends on what the coin is and what time of the market it is. It also depends on how good a relationship you have with the dealer.

You have a lot more leverage in a cold market than you do in a hot market.

If the coin is really desirable, the dealer might not budge at all.

My technique (if you want to call it that) is to ignore the price on the 2x2 and simply ask "What's your best price?" If I think the coin's worth it, I buy it, if not, I pass.

If you want a more complex answer: You need to know what Grey Sheet Bid is and how the coin trades compared to that Bid. You also need to know what Trends (Coin World's Coin Values) for the coin is. You should probably know what the coin sold for over the past six months according to the Heritage archives. You also need to know if the coin is PQ for the grade or not. Then, you need to know if the dealer is a "retail-type" dealer or a "wholesale-type" dealer. Finally, you need to know if the dealer enjoys haggling or not. (Oh, and you also need to know if the dealer thinks that another buyer will come along in the next five minutes.)

Once you know all those things, you'll know how much to counter with.

Connecticoin

<< <i>I always base my offer on what I think the piece is worth; to wit, if I think something is worth $1,000 to buy and it is marked $1,000 or under, I buy it. >>



Exactly. There is no rule of thumb. If the coin is underpriced, quietly pay what is being asked, and run like heck when you get the coin in your hot little hand. If the coin is overpriced, offer what you think it is worth, or a little less -- you will quickly get a feel for what the dealer thinks it is REALLY worth by the response.

Cockney

The dealer in question is top notch and I trust him......I went with Gooses suggestion...thanks for the help

PerryHall

I always ask: "What's your best price?" I then "play" or "pass". I also hate to haggle.

SamByrd

if I see a coin I want with a higher price then i want to pay I will often make a reasonable offer, most often i walk away with the coin. I would have no problem if i wanted a coin that was 1000 and I thought was worth to me 900 or so offering 850 the dealer will most of the time come back and tell you how nice the coin is and he will take xx for the coin, the key is to be respectful to the dealer and other customers and not offer obsurd prices or talk about where you can get one cheaper,