Hypothetical, sort of : If a dealer lists a coin at $1000, how will he react if you offer $700? $50
Barry
Posts: 10,100 ✭✭✭
A take-off on Coinguy1's thread.
I believe most dealers would laugh, curse you out, or ignore such an offer. What do you think?
I believe most dealers would laugh, curse you out, or ignore such an offer. What do you think?
0
Comments
- Whether he's listing a $1000 coin, a $700 coin, or a $500 coin for $1000.
- How long he's been sitting on it.
- If he's a jerk.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
roadrunner
<< <i>Today, they will probably quickly reject your offer. If the market slows down they might consider it. >>
Smart man here.
There can be many reasons that a dealer will sell something less than priced.
No one should be offended by truly serious offers.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
If it's a very liquid coin that is fairly regularly selling for close to $1000, offers of $500 or $700 would be met with the somewhat more polite equivalent of "pound sand." If it's not a very liquid coin, $700 may approach a reasonable offer, at least as an opening overture for a $800-850 purchase.
If I only had a dollar for every VAM I have...err...nevermind...I do!!
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I went to buy a car, made a rediculously low offer because I really couldn't see myself spending that much money on a car. The dealer immediately came down $8,000.00. I bought the car instantly.
I have some antique clocks for sale on ebay with best offer option. People will offer $150.00 for a $1,200.00 clock. Absurd. I wouldn't bother answering. I am certainly not going to take offense by it, that would be as ridiculous as their offer.
I've put in best offers on this one ebay dealers coin auctions, and have been ignored. I followed that with a phone call and had a perfectly pleasant transaction. Perhaps they were too busy to see the initial offer, or is was just too low.
Generally though, I will only offer what I think a coin is worth. Not much less. I will pay more if I really like the coin.
I will never offer 50% the value of a coin since I believe that is ridiculous and insulting, however, I don't think a dealer should be insulted by ridiculous offers. Just ignore them or say no. Simple. If someone becomes a nusiance doing that, they deserve a little talking to, an education.
I've bought coins at the price a dealer asked for even though I knew I could get it for less, but that was in good faith for possible future purchases.
Ultimately, if you find a dealer you like, I don't think you should ever have to haggle on a coin or ask for price reductions (maybe in the beginning it could be ok, especially if your low on cash and can't afford that little extra extravagance), but if a dealer kept selling me coins as a loyal customer without some appropriate reduction volunteered by him/her, I wouldn't go back. That's just my style.
I have 'tested' dealers with a low ball (NOT a rediculous low ball)if their coin was overprice, and if treated without respect, I won't develop a relationship with them.
So I think I've tried most everything. I think the bottom line advice for you is this. Know what the coin should go for. Make your offer that is reasonable. Develop a real relationship with a dealer and you will be rewarded. Bargain coins are useless. A good price is another story. Dealers have to make money. This is how they make their living. Good dealers have good taste in coins and should be rewarded for that. There are some really, really nice, fair dealers out there, don't be a jack ass with them or they'll quickly lose interest in you.
edited to add:
the haggling I mentioned with the antique chair was appropriate for the situation. It all depends on the venue. e.g, some used carpet dealers will sell you rugs at over 100% of what they should and haggling is the way with them, I myself can't stand it. But I'm not going to buy a rug at way over twice what I SHOULD be paying for it, so if I want one, and it's a haggling kind of dealer, I'll haggle, even though I hate it. With coins, I just can't get into that kind of stuff. You've got to be informed so you KNOW if that $1,000.00 coin is worth $1,000.00. If the coin is PQ, you KNOW it's worth more that what non PQ coins of the same grade would go for. It's just sometimes that 'amount' of money becomes one of debate. Is that haggling? In cases like that, sometimes a 50% reduction may not be rude or ridiculous but when you do low...low ball like that, you're always taking the chance of making an ass out of yourself, unless you securely know how to determine what his/her take on the coin is going to be at the original price. Sometimes that's not so easy to determine, as you do not know what the dealer had to pay for it. I think there are enough people out there who will walk all over you if they can, just don't be uninformed, find someone you can trust and that shouldn't happen. If the coin is 1k and you're wondering if you should offer 50% or 30% less and don't know WHY and if that is FAIR, then you shouldn't be making an offer on the coin.
edited: spelling
Your clocks and your answer rocks!
<< <i>Your clocks and your answer rocks! >>
flip out. just politely smile and say no thanks is what i would
expect.
anything else and i will just walk away.
other people had great answers. good thread.