APMEX in trouble?
VanHalen
Posts: 3,945 ✭✭✭✭✭
With Pamp 1oz bars for melt delivered on eBay? You gotta wonder: Pamp at melt delivered
Under melt with cc/eBay Bucks/etc.
Under melt with cc/eBay Bucks/etc.
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how many of the 1oz AGEs did they sell?
I'm not seeing it. Their cheapest 1oz AGE on ebay was the 2014 at $1301 and change. The PCGS weekly which came out today quoted AGEs as of today at $1225.75; kitco's quoting spot at $1193.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>moving inventory just as they always do. Low profit/high volume on this item. Probably bought big quantity at low price. >>
Might be high volume but there's no profit to be had here. Even if bought a month ago at melt ($1150) these would be being sold at a loss after only 4% eBay/PayPal fees + S&H.
<< <i>ebay has to be subsidizing this.
how many of the 1oz AGEs did they sell? >>
1551 IIRC
<< <i>he last time they had 1 ounce AGEs for about $10 over like that I got my 2 pretty quick.
I'm not seeing it. Their cheapest 1oz AGE on ebay was the 2014 at $1301 and change. The PCGS weekly which came out today quoted AGEs as of today at $1225.75; kitco's quoting spot at $1193. >>
That was on Nov 7th when they last had that deal. $1190 a pop.
I'm nibbling in gold, so this 1oz is too big of a bite for me. Otherwise I'd be in for 2.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Also, there is no way Apmex is paying regular store FVFs. They surely have a special deal with Ebay to greatly reduce their fees, probably to virtually nothing. Similar to a large/famous coin collection being sold by an auction house with no seller's fees. Ebay will get a lot of extra business for their other listings by having Apmex on board offering deals like this so often.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>Wow cheap!!! >>
Not hardly. Unless you are selling to someone like yourself you're at least $15-$20 in the hole if you could sell right now. After their last offering of AGEs a month ago, I was in the hole before they even hit my mailbox. One has to think long term tho. I expect that gold will hit $1,000 before it hits $1,300.
Beats the crap out of paying $1367 tho.
<< <i>Also, there is no way Apmex is paying regular store FVFs. >>
That is for sure.
....after having two coin buys from two different sellers get canceled in the last couple of weeks, I have become skeptical.
<< <i>Apmex is definitely not in trouble. The proof is that I got my decorated tin full of flavored popcorn this week. >>
Mine is due to arrive today. A nice bonus, though not as nice as the free silver provident sent me last year.
<< <i>
<< <i>Also, there is no way Apmex is paying regular store FVFs. >>
That is for sure. >>
They may have gotten a special price on the gold too.
I knew it would happen.
<< <i>
<< <i>
<< <i>Also, there is no way Apmex is paying regular store FVFs. >>
That is for sure. >>
They may have gotten a special price on the gold too. >>
This wouldn't be possible without ebay owning PayPal.
Ebay has to be eating all fees on this at minimum, FVF + PP, and then there is shipping and overhead on these on APMEX's end. Maybe APMEX is eating that as customer acquisition costs.
Dont' think of it in terms that this is the only item they sell. They make a KILLING on other stuff, so sell these at cost to free up cash to purchase 2015 ASE & AGE's.
If I worried about making a profit on every item I ever tried to sell and wouldn't sell without doing so, I would not have sold as nearly much as I have. When you buy something for $22 and sell it for $210 and get lucky enough to do that a few times, some on an even bigger percentage... then sell other things at a measly 3-5% profit on a more often basis, I can lose a couple bucks on something that has gone stale and I just want out of it to free up the cash.
APMEX does this, but on a much larger scale, that's all.
Fortuna 1 oz on eBay by MCM
<< <i>You guys are funny with this one.
I got 50 sweet latina breastises in 48 hrs from the A. If order delivery stops wake me up with this concern. >>
No kidding
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Or... may be the usual drop in metals prices on Monday and they have a heads up!! Seem to always work out that way.
<< <i>If I recall, Apmex does quite a bit of inventory clearing out about this time of year. So may be related to that... getting cash flow ready for the new year.
Or... may be the usual drop in metals prices on Monday and they have a heads up!! Seem to always work out that way. >>
What is the interest cost of a short term business loan for $500K vs selling 1000 or more ounces of gold at a loss per ounce? Keep in mind we know nothing about any incentives that APMEX may have had from PAMP nor would there be any assurance/s that APMEX would have sold them all at regular pricing by year's end.
Under spot is always great.
<< <i>Sale is over. >>
Almost....1 hour to go with over 2300 sold....(APMEX)
<< <i>If I recall, Apmex does quite a bit of inventory clearing out about this time of year. So may be related to that... getting cash flow ready for the new year.
Or... may be the usual drop in metals prices on Monday and they have a heads up!! Seem to always work out that way. >>
Not on ebay but on the regular site they called it the IRS . Inventory Reduction Sale.
I'm not sure if they did it last year though.
Is it just me or have they trimmed their inventory a bunch or what?
<< <i>
<< <i>Sale is over. >>
Almost....1 hour to go with over 2300 sold....(APMEX) >>
Clicked on the wrong link.
Liberty: Parent of Science & Industry
<< <i>It's really got to be scary holding that much metal with the market awash with it (it's for sale all over the place, look around), hard to blame them for selling as fast as they can before it drops more >>
A hedge position would offset the risk.
<< <i>APMEX sale still going on ... now until 12/20....& they only report # sold in the last 24 hrs... Interesting. >>
You mean 12/10 no? Right now it's 2 days and 17+ hours to go.
Buy tonight and be in the hole as early as tomorrow morning.
<< <i>
<< <i>APMEX sale still going on ... now until 12/20....& they only report # sold in the last 24 hrs... Interesting. >>
You mean 12/10 no? Right now it's 2 days and 17+ hours to go.
Buy tonight and be in the hole as early as tomorrow morning. >>
Nope...My Watch List indicates: Dec-20,10:18 AM PST
<< <i>it shows 4255 sold >>
almost 355 troy pound...or 5 million $ worth.
<< <i>
<< <i>
<< <i>APMEX sale still going on ... now until 12/20....& they only report # sold in the last 24 hrs... Interesting. >>
You mean 12/10 no? Right now it's 2 days and 17+ hours to go.
Buy tonight and be in the hole as early as tomorrow morning. >>
Nope...My Watch List indicates: Dec-20,10:18 AM PST >>
Mine does too, but I don't think that means much. The 2+ days remaining is now gone from the listing. The issue I have with these is that gold is likely headed lower and most places you can sell them too will offer you less than spot, plus you may have to plan for $20 or so for shipping.
hedge by selling silver futures contracts.