Is it OK to make a lower offer to an online dealer

rkp

Hi,

I am looking at a coin I like online at a highly respected dealer's website who specializes in early U.S. and usually deals in coins that are in the $5,000 - $50,000 range. The coin I'm looking at is priced about $1,000 and I think its a little on the high side. So my question is, is it OK to make an offer that is 10 - 15% lower than the current asking price. I have only bought coins at auction and at small local shows where haggling is the norm. I'm not sure what the ettiqute is for one of these "elite" dealers and certainly don't want to offend him. I don't want to get a reply like " you are trying to negotiate a coin for this pidly amount? You're lucky I even have such a low priced coin in my inventory!" I would appreciate any comments.

Thanks!

Bayard1908

I recently made a $500 offer on a $550 coin to a dealer exactly like you described. We had never done business before, and my offer was graciously accepted. I think it helped that the coin had been in inventory for about 9 months, lol.

PQType

I picked up a 1876 Trade dollar a dealer was asking $1500 for $1000 the week before christmas. It was late and I thought it may be a good tiome to offer, I had seen it online for at least 2 months. I was surprised he took it ...but very happy.

DUIGUY

Yes, within reason.

This is called collecting.

enzet

Hi rkp,

As long as you ask nicely, I don't think you would get any nasty response. I recently bought an Indian Head Half Eagle for $850. It was priced at $1000 but my initial offer was $825. In the end, the price I paid for the coin was still $200 less than the price guide.

Goodluck on your coin collecting!

Cheers!

pennyannie

RKP- I make reasonable offers all the time, some work and some do not.

ricko

You are entitled to make any offer you so desire. Diplomacy and reason should be your guidelines. The seller is also entitled to graciously turn down your offer - although often, this is accompanied by a counteroffer. Good luck, Cheers, RickO

Greeniejr

Absolutely make an offer. Worst case scenerio is that they say no. If you tell them you are paying with a check or money order the chances of them accepting will be better as they won't be paying the percentages to the card company or Paypal.

ziggy29

Agree with above: Some will entertain offers, and if you get them down on price, return the favor and don't use a credit card. They've already shaved their margin down for you as it is. Could also be helpful in your offer if you stipulate you'll pay cash (or a check).

CaptHenway

We have never thrown anybody out of the store for making a respectful counteroffer, and would naturally extend the same courtesy online.
.
All we ask is that you then honor your offer. We had one guy once who dickered back and forth until we accepted his last offer, at which time he announced that he just wanted to see what we would take for ours before he started negotiating with another guy, but he'll let us know if he still wants it. I told him that the price is now the original price.

TD