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A dealer with nothing but net priced inventory - your perception?

halfcentmanhalfcentman Posts: 1,498 ✭✭✭
in U.S. Coin Forum
Years ago when I was avidly purchasing quality, vintage sportscards, I used to deal with a gentlemen named Paul Lewicki. In the mid 1980's, he had a very simple policy: Under $500.00: everything is as marked. $500.00 or over, 10% discount.

Keep in mind, the stuff you could buy for $500.00 back then was unreal.

I have seen few coin dealers do this, and there were when I was a kid so I do not remember their names (I am 44).

What is public perception of this from those of you who do shows? Would this dissuade you from doing business with someone, or would you find this kind of static business model refreshing, up front, and void of BS??

I am pretty horrible at judging these kinds of things, so I would welcome your input.

Thanks, and have a nice evening.

Greg

Comments

  • llafoellafoe Posts: 7,220 ✭✭
    I wish everything was net priced!
    WANTED: Cincinnati Reds TEAM Cards
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭
    My input? I don't care how a dealer prices his coins- all I care about is my cost. Price at $250, sell for half off or just mark the coin $125 in the first place, it's all the same to me.
  • AnkurJAnkurJ Posts: 11,370 ✭✭✭✭
    Any coin dealer can overprice things and then mark a discount. I would rather deal with someone honest who gives reasonable prices. Personally, I think net pricing is just an excuse to overprice.
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • RYKRYK Posts: 35,800 ✭✭✭✭✭
    If the final price is acceptable, what's the difference how you got there?
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • messydeskmessydesk Posts: 20,299 ✭✭✭✭✭
    As a buyer, I always ask the price unless I see a sign saying everything is net priced. This often results in someone behind the table getting on the phone to get a price, so seeing net prices would save me a lot of time.
    John
    Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
  • rainbowroosierainbowroosie Posts: 4,875 ✭✭✭✭


    "If the final price is acceptable, what's the difference how you got there?"


    That's what counts...


    image
    "You keep your 1804 dollar and 1822 half eagle -- give me rainbow roosies in MS68."
    rainbowroosie April 1, 2003
  • ArizonaJackArizonaJack Posts: 4,029 ✭✭✭


    << <i>If the final price is acceptable, what's the difference how you got there? >>


    yep
    " YOU SUCK " Awarded 5/18/08
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭
    Rethinking my original post, since I typically buy world coins, I actually prefer sellers who mark their coins at catalog and offer a discount from there as opposed to determining for themselves what the "real" retail price should be.

    So I guess that's a flip-flop for me.
  • PerryHallPerryHall Posts: 46,832 ✭✭✭✭✭
    I have no interest in playing pricing games with dealers. Just tell me your best price and I'll either play or pass.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • PerryHallPerryHall Posts: 46,832 ✭✭✭✭✭


    << <i>Rethinking my original post, since I typically buy world coins, I actually prefer sellers who mark their coins at catalog and offer a discount from there as opposed to determining for themselves what the "real" retail price should be. >>



    Aren't they determining for themselves what the "real" retail price should be when they determine what discount they give you?

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • PTVETTERPTVETTER Posts: 6,024 ✭✭✭✭✭
    I try to give my best price first and stick with it. I have lost sales but have no reason to give my profit away to someone I don't even know and does no other business with me.

    My best customers know I price fairly and there in NO problem with them.

    Why is it the everyone expects a discount?

    It always for better or + grades they want

    I can get more from dealer in most cases so I wholesale more now, dealers win and the retail customes looses since the wholesaler pays more.
    Pat Vetter,Mercury Dime registry set,1938 Proof set registry,Pat & BJ Coins:724-325-7211


  • habaracahabaraca Posts: 2,049 ✭✭✭✭✭
    Ran into a dealer at the Springfield IL. show this weekend that priced that way...

    Probably 90% of his inventory had NET on them and to me a collector he said that was the price
    no lower..... maybe to a bulk buyer or dealer he might offer some discount don't know...

    His NET seemed to be Gray Sheet bid...... I did get a nice 1834 O-114 in NGC 40 real nice original crusty Lady.
    Very pleased with the purhase....

    Also knew not to haggle so made it a bit easier,, either I was willing to pay the NET or not......
  • penny4yourthoughtspenny4yourthoughts Posts: 155
  • jesbrokenjesbroken Posts: 10,600 ✭✭✭✭✭
    Whenever I buy a car, a piece of property, or a coin, it is the same. I know what I will pay and that is what I will pay. I never "have to have it" which will put you at the seller's mercy. Be willing to walk when the price is not as you are willling to pay. The same for a dealer, know what you wish for the coin and ask it, if the buyer can't buy it, then they will move on. Neither wins when the sale ends and they are not satisfied. If a coin is priced within 10-20% of what I will pay for it, I will make an offer, if not I won't bother the seller with what they would obviously consider a lowball offer. If the seller has the coin marked up for plenty of room for a trade or discount, they lose to me because I will not make an offer. Then that's just my opinion.
    Jim

    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
  • BillJonesBillJones Posts: 34,796 ✭✭✭✭✭
    I don't care what their policy is, I look at the item, decide if it fits in my collection and if the price is fair. If it is, I'll buy; if it's not I'll pass.

    The late Steve Tannenbaum priced almost everything at 10% off the price marked. It worked fine with me.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • LakesammmanLakesammman Posts: 17,460 ✭✭✭✭✭
    If everything is 10% off, why not just mark it so?? It's just a mind game, making the buyer think they got a deal.
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    Retail sales make one learn to watch the bouncing balls.
    image
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • BillJonesBillJones Posts: 34,796 ✭✭✭✭✭


    << <i>If everything is 10% off, why not just mark it so?? It's just a mind game, making the buyer think they got a deal. >>



    As a retired dealer I can tell that the first question that comes out of most tire kickers mouths is, "Can you do any better." Most buyers seem to expect a "discount." Rather play hardball with the prices I found that it was better to just put a little room in the marked price. And if they bought the item at the price marked, I'd mark down a bit. Sure, I might have lost of revenue doing that, but it got me some repeat customers too.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • fastfreddiefastfreddie Posts: 2,904 ✭✭✭✭✭


    << <i>

    << <i>If everything is 10% off, why not just mark it so?? It's just a mind game, making the buyer think they got a deal. >>



    As a retired dealer I can tell that the first question that comes out of most tire kickers mouths is, "Can you do any better." Most buyers seem to expect a "discount." Rather play hardball with the prices I found that it was better to just put a little room in the marked price. And if they bought the item at the price marked, I'd mark down a bit. Sure, I might have lost of revenue doing that, but it got me some repeat customers too. >>



    Wish you were still active and I could afford the quality that you have always sought out in coins and tokens.
    It is not that life is short, but that you are dead for so very long.
  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭
    Too much thinking. You like a coin and price and the last $50 makes a difference then just move on. Don't try to get into the dealer's head. Keep him out of yours. Just pay what you want for what you want or walk on.

    Whatever you do, don't negotiate. It's a sign of weakness and an invitation to be taken advantage of.

    image
    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭
    So simple. So few chances to negotiate.

    Whatever makes you think you have any better idea what it's worth than he does? Bluesheet says you should pay WHAT?

    I show someone (a dealer) a better date Saint in 64. Quote $9500 with 64 bid at 7500 and 65 bid at $32K. "Is that your best price?" "No, my best price is the 11K I paid, but it didn't grade what I expected".
    BTW, closed the deal at $9100

    He flipped it the next day for $9400 and bought me Starbucks.

    A shame you missed this bargain.

    Just walk on......

    Yeah, I have an attitude. Want to make something of it?



    image
    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • jmcu12jmcu12 Posts: 2,452 ✭✭✭
    I would agree with the sentiment that you either like the price or not. Move on if you dont.
    Awarded latest "YOU SUCK!": June 11, 2014
  • MikeInFLMikeInFL Posts: 10,188 ✭✭✭✭
    The price is the only thing that matters. How a dealer gets to that price matters not.
    Collector of Large Cents, US Type, and modern pocket change.
  • Walkerguy21DWalkerguy21D Posts: 11,697 ✭✭✭✭✭
    I see a few dealers at the bigger shows do this routinely. I rarely find anything to purchase from them.....of course, maybe the 'good stuff' was already picked over
    during dealer set up. The concept of net pricing doesn't bother me though. And like someone else said, I prefer that to gross overpricing listed, but then willing to come way down to sell a coin. I'm sure I've passed up good coins knowing what I know about some dealers now, previously thinking we were way too far apart when in reality he was willing to deep discount it from his bs price.
    Successful BST transactions with 171 members. Ebeneezer, Tonedeaf, Shane6596, Piano1, Ikenefic, RG, PCGSPhoto, stman, Don'tTelltheWife, Boosibri, Ron1968, snowequities, VTchaser, jrt103, SurfinxHI, 78saen, bp777, FHC, RYK, JTHawaii, Opportunity, Kliao, bigtime36, skanderbeg, split37, thebigeng, acloco, Toninginthblood, OKCC, braddick, Coinflip, robcool, fastfreddie, tightbudget, DBSTrader2, nickelsciolist, relaxn, Eagle eye, soldi, silverman68, ElKevvo, sawyerjosh, Schmitz7, talkingwalnut2, konsole, sharkman987, sniocsu, comma, jesbroken, David1234, biosolar, Sullykerry, Moldnut, erwindoc, MichaelDixon, GotTheBug
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>

    << <i>Rethinking my original post, since I typically buy world coins, I actually prefer sellers who mark their coins at catalog and offer a discount from there as opposed to determining for themselves what the "real" retail price should be. >>



    Aren't they determining for themselves what the "real" retail price should be when they determine what discount they give you? >>

    I didn't really explain it very well. I need to know how the price I'm paying relates to the catalog value, so my first question is "Are these priced at catalog?" If so, I'll ask if the prices are net, or is there any room for a discount? And if the latter, I'll try to get a rough approximation of what percentage it might be. That way (if the marked prices are current catalog prices) and the dealer will offer 15-20% (or whatever) off, I can figure which coins will be profitable for me. Some coins, I'd need to buy at half catalog to make anything on, but others, I can pay over catalog and still do okay.

    Bottom line- I need to know where the "starting point" is- and that's the catalog value. If the dealer prices things based on his own idea of what the coins are worth, I have no way of relating them to catalog values. And with four centuries of world coin catalogs being about 12" of telephone book thickness pages, there's no way to memorize pricing for all but the tiniest number of coins- I'm certainly not going to be carrying them around with me. image
  • lkeneficlkenefic Posts: 8,562 ✭✭✭✭✭


    << <i>If the final price is acceptable, what's the difference how you got there? >>



    image
    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
  • pennyanniepennyannie Posts: 3,929 ✭✭✭
    I do not care how they price it, best price, lowest price, 25 percent off, 1/2 price, list plus 10, etc. I still want another discount. image
    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"
  • PerryHallPerryHall Posts: 46,832 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Rethinking my original post, since I typically buy world coins, I actually prefer sellers who mark their coins at catalog and offer a discount from there as opposed to determining for themselves what the "real" retail price should be. >>



    Aren't they determining for themselves what the "real" retail price should be when they determine what discount they give you? >>

    I didn't really explain it very well. I need to know how the price I'm paying relates to the catalog value, so my first question is "Are these priced at catalog?" If so, I'll ask if the prices are net, or is there any room for a discount? And if the latter, I'll try to get a rough approximation of what percentage it might be. That way (if the marked prices are current catalog prices) and the dealer will offer 15-20% (or whatever) off, I can figure which coins will be profitable for me. Some coins, I'd need to buy at half catalog to make anything on, but others, I can pay over catalog and still do okay.

    Bottom line- I need to know where the "starting point" is- and that's the catalog value. If the dealer prices things based on his own idea of what the coins are worth, I have no way of relating them to catalog values. And with four centuries of world coin catalogs being about 12" of telephone book thickness pages, there's no way to memorize pricing for all but the tiniest number of coins- I'm certainly not going to be carrying them around with me. image >>




    How relevant are catalog prices? Are they very accurate and up to date?



    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>How relevant are catalog prices? Are they very accurate and up to date? >>

    Not always accurate or up to date, but that's what a lot of people use anyway. For items you don't have any experience with, it's all there is to go on- you have to start somewhere. Once you figure out where it's safe to vary from catalog prices, there are opportunities.
  • CameonutCameonut Posts: 7,383 ✭✭✭✭✭
    You guys got it all wrong.

    Just tell your wife that you got the coin on sale for 10% off and she will approve of all your purchases! image

    “In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson

    My digital cameo album 1950-64 Cameos - take a look!

  • mozinmozin Posts: 8,755 ✭✭✭
    I don't mind net pricing at all. If the coin is priced right, I buy it. Haggling about the price of a coin I select is not something I enjoy. Many dealers will become suspicious that they are being cherried by a serious collector of a series, so they tend to hit a higher price.
    I collect Capped Bust series by variety in PCGS AU/MS grades.

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