B&M changes price what would you do?

direwolf1972

I spotted a raw 1880 O Morgan that I wanted at a B&M shop out of town a few months ago.

The price quoted was $75.

I didnt have that much on me at the time and asked him if I could call and pay by CC over the phone when I got home.

He gave me his card and I called him later in the week. He told me he'd ship it. I waited and waited. It was never shipped or charged to my CC.

Went back down to Nashville today and stopped by the shop. He still had it around and I told him I'd take it.

I erred by not asking the price again before he rang everything up.

To my surprise the total was significantly more than I thought it would be.

Checked the receipt and he charged me $100 instead of $75.

The price difference isnt that great but I dont think I would have bought it for $25 more than I originally intended.

Would you have mentioned it to him?

Just write him off the coin shops you visit?

Or

Just feel like a fool for not confirming the price he was going to charge?

Wondering what others would have done in a situation like this.

19Lyds

I would have questioned the price increase even after I'd payed.

His response would dictate whether or not I'd write him off.

mrpotatoheadd

<< <i>Went back down to Nashville today and stopped by the shop. He still had it around and I told him I'd take it. >>

Did he know you were the guy from a couple of months ago?

<< <i>I erred by not asking the price again before he rang everything up. >>

Did you ask him about the cc you gave him over the phone to pay for the coin a couple of months ago?

Placid

Considering it was $75 a few months ago I would have verified the price was still $75.

doh

Yeah, I would have definitely brought it up with him when I noticed the receipt. I mean, coins can certainly go up 33% in a couple months, but the guy should tell you or at least make a point of mentioning the price before the sale is completed.

Frankmason

Paul....I just got off the phone with the dealer at that shop....he said he realized that it might be an expensive Vam and knew you just HAD to have it!!!

direwolf1972

<< <i>Paul....I just got off the phone with the dealer at that shop....he said he realized that it might be an expensive Vam and knew you just HAD to have it!!! >>



LOL

yep it is a VAM

Hit List 40 1880 O VAM-7

All of the features show nicely and it might or might not holder as a MS61/62

It has a black streak on the reverse that might earn it a BB

I was comfortable with his price of $75 and taking a chance on it slabbing

with the $25 tacked on there I'm not so sure I did well with the purchase.


In the end I just kept quiet and walked away with egg on my face for not asking the price again before he rang it up.

The reason I asked is I'm sure that some day I'll run into a similar situation where the price suddenly changes. Always good to know what others would do so that i know what would be an acceptable response.

Unknown

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zeus135

Live and learn buddy...........

You paid the price he had on the coin, without negotation. It doesn't sound like you made him aware that you were the same person who wanted to but it previously at an already agreed to price of $25 less. He thought you just saw it for the first time and wanted it bad.

It also sounds like you're OK with the price you paid for it.

jdimmick

The 75.00 was probably the cash price then and there on the spot, not sometime later and by Credit card.

JIM

UtahCoin

I choose A.
"Just feel like a fool for not confirming the price he was going to charge"

Coinhog

If you had paid $75, would you have gone back and told him you cherry picked a Vam 7?


Seems all square to me. Circle of life and all.

garsmith

That is inflation my friend

rjsriv

I can see both sides-- As a buyer you agreed to a price and thus it should be honored. As the dealer if you wait too long and the price jumps and the buyer did not complete the transaction and someone else wanted to pay the higher price for the piece and held it for the buyer and then backed out, the dealer got screwed!!!!

With that said-- If I want a coin and don't have the scratch then I get it within a day or less-- so that this issue doesn't happen!!!!

IMHO

Coxe

Prices change over months. A date like that could have moved in the greysheet. Don't know off hand though. Anyway, you should have worked the price at the point of sale. If you called and gave him the CC later the same day, one could easily argue the contract at the price you got at the shop, perhaps plus something to ship it to you. We all make these sorts of mistakes for sure. I know I bargained a deal at a show and the totaled price was off by $100. Didn't notice it until I was home putting in the individual coins' cost bases into the database and saw they didn't add up correctly. Wouldn't see the guy for 3 months and just wrote it off as a mistake.

sumdunce

The original price may have been a "I want to move some inventory before end of month" sort of thing. The price you paid may be an actual retail for the shop price.

I would have identified myself as the person from a few months ago and inquire why the coin was not billed and shipped to see if the owner would make the same offer on the spot.

V/R



Sumdunce

BigE2

<< <i>Unfortunately bringing up the increase in price now after the fact on the board is definitely not as good as bringing it up back then on the spot with the dealer. >>

Greeniejr

This is a case of not looking before you leaped. Prices change and had you asked, maybe he could have met you part way. We had a bust half on our website a few months back at 1000 bucks and after some strong auction results we raised the price to 1395. Someone emailed me that he had seen it on our site (I believe he is a board member) and that he would like it at 1000 but saw the price increase. We ended up selling it to him at 1300. Once you walk out, any verbal offer made to you is subject to be voided.

dan383

Had he only charged you $65 , would you still be asking questions ??





Dan

TheRaven

I think you should have verified the price of the coin to make sure the price was the same.....

fc

coin pricing can change on a whim with the people selling them.
when someone asks to buy a coin without even asking the price
you will end up getting charged the max the seller can get away
with.

Frankcoins

I wish I could sell my mutual fund for the price my broker told me it was worth 2 months ago....

Arizonadesertrat

I would not say anything. When a coin dealer quotes a customer a price for an item, it isn't good indefinitely.

Some dealers have a "20-20" policy---the quoted price is good for 20 minutes or until the customer moves 20 feet from the dealer's shop or convention table.

coinman420

next time after saying "i`ll take it" try following up with "how much is it"?

fishcooker

Maybe wait a couple months and see if $25 matters.

Unknown

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options26

I agree with realone. Cheap price for lesson learned. We all know what to do next time we are in a B&M.

BlindedByEgo

Jeez - you didn't follow up on his failure to put it on your CC as agreed and then you let him charge $25 more without a peep - how passive ARE you?

To answer your question, were I you, I wouldn't do anything with the seller - however, I would seek counseling or a good assertiveness training program

CaptHenway

You erred in not identifying yourself as the person who had called and given a credit card number to buy the coin, and asking if he had tried the card number. Perhaps he did try and the card had not gone through. This would have given you the opportunity to apologize, and ask if you could still buy it at the same price.

Perhaps there was some other reason why the transaction did not go though. Perhaps he did not wish to pay the shipping on what was supposed to be a "cash and carry" transaction. When you called with the credit card number, did you offer to pay for shipping?

By not mentioning his earlier offer to sell, you effectively voided it.

Sometimes people will come in and ask what we would pay for a coin, and we say "x." Then they get all indignant and say that we had offered them "x+$50" six months ago. Obviously they are hoping that we would name a price higher than "x+$50," which they would then take. By not being upfront and starting the conversation by mentioning the original offer, they void it.

TD