Do you care if the dealer's coin is owned by the dealer or consigned?

RYK

I have a few thoughts on the issue:

1. It should not matter as the coin is the coin, no matter who owns it.

2. If a dealer whose opinion I respect thought enough of the coin to buy it on spec, it says something about his/her belief in the quality of the coin.

3. There is always a decent chance that in scenario #2, the dealer bought the coin and upgraded it. Therefore, he/she bought it on spec with the intent of upgrading it and profiting from the upgrade, not the regular mark-up.

4. This leaves us back at #1. "The coin is the coin." I wish someone could translate this into Latin. It would sound far more erudite.

rec78

No, the coin is the coin is the coin and that is all i need. It does not matter who owns it,who consigned it or whatever reason it is there for sale. If i want it, I want it. Prior ownership makes no difference and niether does the dealers opinion. My opinion is the one that counts.

roadrunner

More often than not consigned coins are priced at unrealistic money once the dealer's commish is tossed in. I can't remember the last time I went to a local shop or show and was able to buy a coin that was consigned. Usually the seller says he has no option in the pricing and realizes it's priced out of whack. If the coin was buyable the dealer would just buy it outright.

roadrunner

ColonialCoinUnion

That's a good question.

We will take a coin on memo if 1) Is the kind of coin we believe in and would buy for inventory and 2) if we can offer it at a retail price that makes sense for the item.

Often we are offered coins on memo which are nice, but for which the consignor wants such a steep price that we can't offer them at a reasonable retail. So we don't.

291fifth

In my experience, consigned coins tend to be overpriced.

MrSpud

I have also found that dealers gave me better deals on their own coins that they were selling and would say something like "I can't go any lower on that coin because I am selling it on consignment". I can't always tell if that is just a selling technique to get a higher price or not though, because sometimes when I walk away they give me a slightly lower offer.

Trime

In general, my opinion agrees with others that the dealer has less flexibility with consigned coins. This may not always be the case although if the price is lowered enough by the consigner the dealer may then buy it outright.

BECOKA

I don't usually take that into consideration. Many of the good coins can only be found at auction where many dealers are forced to get them. If it upgrades so be it, otherwise people buying from dealers are forced to pay market pricing (auction) + dealer markup.

Usually worth the markup since most people don't have time to go to different auctions and pick out the nicer stuff.

combatmailman

Thy nummi ecce thy nummi. Cannot remember all my latin, but I beleive it is close.
The coin is the coin

PerryHall

If I like the coin and I like the price, I buy it. Nothing else matters and nothing else is relevant.

Regulated

I have bought plenty of consigned items from other dealers and have been able to make money on them. The coin is the coin, and you may know more than the owner and the dealer with the piece on consignment.

MrEureka

Usually, a dealer will not even tell you the coin is on consignment unless he is either apologizing for the price, explaining that he doesn't know the market for the coin, or encouraging you to make an offer that he can pass along to the owner. So find out which it is and act accordingly.

speety

I don't care as long as the coin is up to my standards and the price is reasonable.

ricko

If the coin and price are right, I will buy... if not, I try to bargain. No movement, no sale. Cheers, RickO

coinkat

Not really... if the coin is attractive and there is a meeting of the minds on the price, that is what matters.

cointagious

<< <i>I don't care as long as the coin is up to my standards and the price is reasonable. >>




You should care if the dealer happens to declare bankruptcy and not pay the owner for the coin.

(Yes, it seems to have happened recently.)

Unknown

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bidask

The coin may be the coin, but what about the terms ( such as return privelage) which may be different between consignor and dealer...or is it fair to assume those terms are always the same as the dealer's other coins being offered?

MrEureka

The coin may be the coin, but what about the terms ( such as return privelage) which may be different between consignor and dealer...or is it fair to assume those terms are always the same as the dealer's other coins being offered?

Excellent question. The answer is that "it depends".

lathmach

I'd feel better about buying a coin owned by the dealer.
If I were to buy something, and within a reasonable period I find something wrong with it, I think I'd have a better chance of returning it and getting my money back.
If a dealer sells a consigned coin to you and has remitted the sellers share to him, how much trouble are you in for if you try to return it and get you money back?

Ray

ttown

It really doesn't matter to me. But just like a consigned car a dealer is going to show his stuff first for max profit. Some dealers won't push a consignment but try to get your money off one of his wears, the other end they may over price them since the owner wants his money and the dealer needs a cut.

Outhaul

When a dealer tells me a coin is on consignment the first thing to cross my mind is that I don't give a ratsazz; I'm doing biz with the dealer, not the consignor. Additionally, if I make an offer and the dealer tells me he'll have to check with the consignor, it's sayonara MF. If you don't have a price down cold with a consignor, go into another line of work. I ALWAYS expect the dealer to know his/her product and be ready to make a deal.

Just my eversohumble opinion...

Cheers,

Bob

Longacre

If it's the coin I want and the price is right, then it does not matter to me.

Boothill40

I'm after the coin not the seller so it wouldn't matter to me.

claychaser

For selling, I am becoming a believer in consigning coins to a trusted dealer and with a clear commission structure, typically 10%, and a clear minimum price that the dealer can work from. As long as upir goal in selling is to get the optimum price, and you can wait for several months for a sale, it works well. Your coins get shown at major shows, and have the benefits of the dealers marketing focus, be it shows, Internet, established customers, and other dealers. Excellent results with both Julian and Wayne Herndon.

ColonialCoinUnion

<< <i>The coin may be the coin, but what about the terms ( such as return privelage) which may be different between consignor and dealer...or is it fair to assume those terms are always the same as the dealer's other coins being offered? >>



Any coin we offer on consignment would be subject to exactly the same terms as any owned coin in our inventory.

RYK

<< <i>For selling, I am becoming a believer in consigning coins to a trusted dealer and with a clear commission structure, typically 10%, and a clear minimum price that the dealer can work from. As long as upir goal in selling is to get the optimum price, and you can wait for several months for a sale, it works well. Your coins get shown at major shows, and have the benefits of the dealers marketing focus, be it shows, Internet, established customers, and other dealers. Excellent results with both Julian and Wayne Herndon. >>



I have also done well consigning coins to a dealer (primarily Doug Winter). Unlike your example, we never really discussed the pricing. I sent him the coins, he did his thing, and I received a check or credit toward future purchases. On some individual coins I have been disappointed, but overall, this has worked very well for me. Usually, one can get more money out of the coin if you do not force the dealer to take it on spec.

OTOH, I would prefer to buy nice coins from dealers that they bought "right", rather than those thrust upon them by another client.

RYK

<< <i>

<< <i>The coin may be the coin, but what about the terms ( such as return privelage) which may be different between consignor and dealer...or is it fair to assume those terms are always the same as the dealer's other coins being offered? >>



Any coin we offer on consignment would be subject to exactly the same terms as any owned coin in our inventory. >>



While that may and should be the case for the initial sale, what happens when, one year later, the buyer, and let's say he's a regular customer, wants to sell the coin back to you? What if the coin is not something you would have bought outright in the first place? It gets a little stickier, IMO.

ColonialCoinUnion

<< <i>OTOH, I would prefer to buy nice coins from dealers that they bought "right", rather than those thrust upon them by another client. >>



Some coins are only available to us on memo and cannot be purchased "right".

A common scenario is for the owner to want to consign to a dealer first, and then if the coin does not sell to consign it to an auction.

We had a case last year where 4 coins were consigned, 3 sold off our list and the 4th was eventually consigned to auction where it brought 25% more than our asking price.

dorkkarl

don't ask, don't tell, don't care

K S

mozin

If a consigned coin is priced right, the dealer will buy the coin. If not, at least I will not expect the dealer to negotiate a price with me. Take it or leave it.

TwoSides2aCoin

I don't care too much, Robert.
It's the commissions that pay the guy dealing it, or a percentage of the sale price. Whether it upgrades or not is not relevant.

The market price is always dictated by those involved in vying for it. The middle man is a working guy.

seemyauction

I try to use the same advise as most of us give......buy the coin not the story.......sometimes its tough when you know who owns the coin and you do not like that person.....


Al

Zoins

<< <i>.......sometimes its tough when you know who owns the coin and you do not like that person..... >>

That's only tough if you're paying strong money. If you're getting a steal, it might make it sweeter