Non-ebay: When you submit an offer on a dealer's website

Bochiman

Do you expect a response if they decide NOT to accept?
How long would you expect to wait?

This is saying you use the dealer's website's method for submitting an offer (ie...it isn't just an email to them with an offer, but you click and submit as per website instructions).


Do you think a day? A few days? A week?

Being the type of person I am, if I submit an offer, I will honor it. However, at what point should I expect my funds are fully back in my wallet and not committed to the offer?


Yeah yeah yeah....one could call, resubmit, email, etc. Not talking that. Just using the tools at hand, what would be the expected protocol of response time?

PerryHall

<< <i>Do you expect a response if they decide NOT to accept?
How long would you expect to wait?

This is saying you use the dealer's website's method for submitting an offer (ie...it isn't just an email to them with an offer, but you click and submit as per website instructions).


Do you think a day? A few days? A week?

Being the type of person I am, if I submit an offer, I will honor it. However, at what point should I expect my funds are fully back in my wallet and not committed to the offer?


Yeah yeah yeah....one could call, resubmit, email, etc. Not talking that. Just using the tools at hand, what would be the expected protocol of response time? >>



The dealer may not be able to quickly respond if he's at a coin show or otherwise indisposed. If you don't hear back from him within 24 hours, you are no longer obliged to honor your offer as far as I'm concerned. In any event the dealer should respond even if it's just to say no to your offer. If he doesn't respond at all, he is just being rude.

crazyhounddog

<< <i>

<< <i>Do you expect a response if they decide NOT to accept?
How long would you expect to wait?

This is saying you use the dealer's website's method for submitting an offer (ie...it isn't just an email to them with an offer, but you click and submit as per website instructions).


Do you think a day? A few days? A week?

Being the type of person I am, if I submit an offer, I will honor it. However, at what point should I expect my funds are fully back in my wallet and not committed to the offer?


Yeah yeah yeah....one could call, resubmit, email, etc. Not talking that. Just using the tools at hand, what would be the expected protocol of response time? >>



The dealer may be able to quickly respond if he's at a coin show or otherwise indisposed. If you don't hear back from him within 24 hours, you are no longer obliged to honor your offer as far as I'm concerned. In any event the dealer should respond even if it's just to say no to your offer. If he doesn't respond at all, he is just being rude. >>



I 100% agree with this.

asheland

I'd say a few days tops.

coindeuce

Even if a dealer has a presence on the internet by way of a website, they aren't very likely to be a Gen-Xer, and they don't carry a smartphone or a laptop or iPad and aren't necessarily checking text messages or email every hour on the hour. I would rather establish initial contact by telephone in every case. In that respect, if they are unavailable by telephone, I would allow for up to 48 hours for a response to an offer.

oih82w8

I would give it a day (24 hours) and then follow-up with a phone call. Sometimes the old fashioned way works and you can haggle in "real time".

Cougar1978

I would simply phone them. If it is a big ticket item and your offer is within a range where they have some room they may be receptive.

I have taken these types of calls from potential buyers occasionally and if the offer is within say 90-95% of my asking price I may take it. Otherwise I would tell them no interest or its priced as marked.

I once had a call from a fellow about a show I would be attending. He said "I see you have a lot of nice World Banknotes. How much could you discount these relative to Krause World Catalog?" I told him on most I could take 10% off and others because of tight margins discount would be lower depending on the note. He met me at my table at the show, was very reasonable to deal with, and a large deal involving many notes was consumated.

It is all relative to how reasonable an offer is and how it appeals to the seller's cash flow needs.

garrynot

Maybe provide a deadline. I am offering $$. I can only wait 24 hours. Thank you.

lasvegasteddy

2 business days should be enough

SeattleSlammer

To answer your first question, yes, I definitely expect a response if they decide not to accept.
Now if you offered $1,500 on a $15,000 coin, then no....but I know that you wouldn't do that.

pennyannie

Monday thru Friday I would think 24 hours is good enough, Saturday and sunday 48 hours.

BAJJERFAN

Or if a dealer is offering this kind of contact then a simple note about when you could expect an answer might be in order.

TopographicOceans

It depends on how bad you want the coin.

You should expect a response in a "reasonable" amount of time. I'd say that would be 2 business days at most.

In order to prevent issues in the future, just add a note saying "my offer expires on mm/dd/yy"
You can always make another offer.

Bochiman

<< <i>To answer your first question, yes, I definitely expect a response if they decide not to accept.
Now if you offered $1,500 on a $15,000 coin, then no....but I know that you wouldn't do that. >>



Nah....I wouldn't do that unless I knew the person and was ribbing them

In this case, and other cases, I will make an offer ~10% of the offered price (where I think it is priced more than a little high).


And, to another question....yes, it does depend how much I want it. Regrettably, there is no coin that I want THAT much. I enjoy them, but they don't run my life. So, if I make a reasonable offer using the tools made available by the seller, then I usually make it and go about my day/time.

It honestly didn't occur to me to even ask this question except I went back to a certain dealer's website, that I hadn't visited for a few months+, and saw a coin that might be interesting. Then, I remembered, after making the offer, last couple of times I did their "make an offer" on the website, I never did hear back from them. That was at least a year ago.

Maybe I will contact them through another means and just ask if the offer is at least received.....if it isn't, then it isn't their bad on communication (their bad on their tools, yes, but not communication). If it was received....well.....
(and, no, while my offers may not be what they want, they have always been at, or around, guide level at a minimum...usually above.....so, I don't think I am lowballing them in a mean way).

Also - timeframe is usually very late at night (or very early in the morning, depending how you look at it) for the offer. This is because due to work, and due to family time, that is the time that I can relax and actually look at coins to purchase. I can do short spurts during the day, but not spend relaxing time until then.
In this case....was late this weekend, so I don't sweat the weekend stuff....people have a life. It's now been 2 business days though, and it is NOT a 1-man shop.

Another bit was mentioned about the value of the coin(s)......from this firm, nothing I looked at/offered was over $800. So, not that big of a ticket (perspectively speaking).

ebaybuyer

a few points to consider, if the coin you are looking at is "priced high" try finding another one, can you find a half dozen more in an hour of looking ? if yes id say the price is high, if you find none in a week of looking, perhaps the price isn't high but your perspective of value is low. some coins are simply not available on the planet at published "values" any astute dealer knows this. often a coin offered by a dealer is not his but rather offered on consignment, the actual owner has final say, and therefore the dealer may need to contact the owner for the ok to sell. if the piece has been languishing in the dealers stock for a while, he will most likely be willing to listen, if the coin is fresh inventory, you may want to wait until it aint before making an offer

Bochiman

A few, from my personal viewpoint, points to consider:

I am not talking about "widgets", which is why even my offer is above "guide" (not graysheet)....aside from EAC, I find the "guide" to be high on what I am looking at. And, when I am looking at prices realized (within last year or so, depending on what I am looking at) and see the buy price for the piece I am looking at to be substantially lower AND my offer is in the middle, then I feel fine with my offer.

Pieces I make the offer for HAVE been there for awhile.

I have no idea if they are consignments or not...I am not looking for a 12-24 hour turnaround (would be nice ) for a reply....just noting that my expectation to even receive a reply at all (hopefully within a few business days, but really, at all) may have been unrealistic to some, if the offer was considered and declined, which is why I asked on the thread.....wanted to know if I was unrealistic in the mindset of the majority.


And, to note as well....I HAVE overpaid for coins (I actually just finished doing an annual update of my inventory/collection XLS and saw more than a few that still aren't up to "guide" price) but I refuse to do it on coins that don't knock my socks off anymore. Did it before and refuse now. The coins are nice, but not THAT nice. If I want to overpay by as much as I have in the past, it better wow me for a LONG time.
I know not everyone feels the same way I do....hence some prices that have gone way up and become unrealistic (certain key dates, certain hyped pieces, coins with gold cac no matter what the coin, "rainbow" toned coins where there is just a sliver, etc). I'm ok with that. I have lost out on coins because of that, but, I have my money to buy something else that pops up.

ricko

24 hours during the business week....48 hours on the weekend.... If a major show is going on, I likely would give a little slack - however, if one is in business and doing business on the net, then they have an obligation to attend to said business. Cheers, RickO

NickDanger

Two business days seems reasonable.
Likewise putting an expiration date on your offer.

PerryHall

I'm not sure putting an expiration on your offer is a good idea. If you put a 48 hour expiration on your offer and the dealer is in the hospital for more than 48 hours or is otherwise indisposed he may not bother to respond to your offer since it expired even though you may still be interested in the coin at your offered price. If he finally contacts you several days after the offer is made you always have the option of telling him that you are no longer interested.

AMRC

I would like a response one way or another, but never have any expectations. It is a crap shoot at best.

If it is a weekend, I would wait until Tuesday. If it is a weekday, I would wait a day and a half before I called.

I generally would only rescind and offer if and when I no longer have an interest in owning the piece. But generally not less than 2 business days.

LindeDad

Why not make the offer good till a set date & time?

SeatedHalf1839

Keep in mind...the numismatic world is full of dinosaurs who are not always tech savvy. I would say 3 days is a good round number...that is longer than ebay gives you. If it will take longer the dealer should probably set an automated email response explaining that he or she is indisposed.

Bochiman

Well, given timezone differences and work, it was hard but I was able to carve out a few minutes to call today, before the end of their workday.
Turns out that my offer was received and SHOULD have been approved with a notice going to me. Nothing in my spam folder or any other type of junk email (we verified the email alias was correct and I have purchased from them in the past, and will again in the future).

Nut of it is - we don't know why I didn't receive notification as I should have but the coin was put aside and my info was in their system and they accepted the offer without me having to re-give the offer or anything else.

This particular dealer(s) is not a dinosaur, nor are they so updated and cool as to only do things the most modern way. They have a good balance. Really nice to work with as well....that's why I was non-plussed at how I hadn't heard back.

For those that may wonder, my offer was ~12.5% under the asking price. I thought it was reasonable and, they apparently did as well. Not sure how long the coin had been sitting there, but it was in their "not a new product" area.

So, all around, both sides are happy and, while I shouldn't have had to make a call, I did. I was luckily able to find a small time block where I could get to the phone and call during their office hours.
Now, I just have to see about a possible crossover....too bad I didn't have it inhand 2 weeks ago when I was sending out my crossovers to PCGS......