Your opinions sought on a very favorable BST deal.

coindeuce

This is an all positive thread FYI.



I bought a raw coin recently from a forum member, in which the member knew reasonably well what they were selling, by my observation.

The item didn't generate a cat fight among members for the opportunity.

It just came back from our host with a nice number (which I expected BTW after taking delivery) on the holder, which translates to a large spread over what it would be valued at for one grade point less.

I expect to try to surprise the seller with a split on the profit upon resale.

What in your opinions is a reasonable split percentage wise ?

braddick

Only if you believe the coin, if returned altered by PCGS would have allowed you a return with the seller would I then consider paying an additional premium.
Otherwise, the seller could have easily submitted and subsequently sold the coin for market value vs the avenue he took (selling it to you raw).

Personally, as you took the gamble I wouldn't think further compensation is necessary.
Winning a large jackpot in Vegas doesn't give me pause to then consider giving the house a portion of those winnings back.

Jinx86

Sometimes just being a repeat buyer. Ive had many happy customers come back to me on BST and look/ask for things. That to me is more important than a few extra bucks.

I did receive a gift card from a forum member at one point as a gift. It was quite heart warming.

oih82w8

I agree with braddick, you took the chance, now reap the bennies.



I had a similar BST with a forum member, we both knew that it was undergraded as a PCGS AU53 CAC Green Bean and I bought it as such. Cracked it (The only one that I have felt comfortable doing so far) and it came back PCGS AU55. I just got it back today from CAC...Green Bean as a AU55 this time around.



Now that you the attention of some forum members...let's see what ya got!

roadrunner

Careful that whatever you "offer" that the seller looks upon it as "not enough" and that you ripped them. They may hold it against it you forever. I don't think I'd bother other than to pay it back by purchasing other items from them (without potential) as time goes along. That way you'll solidify your relationship with them....and may even get more opportunities down the road. I've sold lots of coins with eyes wide open "knowing" that they had no potential for a big score. Yet in some of those cases that's exactly what happened for the next owner. The TPG's can bestow gifts too. Crack the coin out and try it again. If it still comes back the higher grade, then you really did rip it.



I had a raw pop top once that graded MS64 for me. I felt it had a 65 shot so I cracked it and tried again. This time MS63. I got chuckles from some of my "mentors." When I offered the coin to one of them at 63+ money ($4500) they wanted nothing to do with it. That same person resubmitted it for me purely out of convenience. It then came back MS65, pop 1, finest known and 4X the price I had just offered it to them ($15K-$18K). They felt entitled to some of those gains because they submitted it for me. I didn't see it that way at all. In fact, in the 65 holder they offered me 2/3 of market value because they knew the history and therefore it was only a 64+ coin at best to me or them....lol. I did not sell them the coin since it was $5K less in my pocket. We parted ways soon after that.

OPA

Hypothetically....If you purchase a winning lottery ticket from your weekly shopping grocery store, would you split your winnings with them? Of course not. Uncle Sam will take care of that just like he will when it's time for you to you sell your item.

coindeuce

All good advice here. In retrospect, I did take a sight unseen gamble on the purchase, as the difference in market value relates precisely to the spread over one grade point. I'll accept the old adage of risk vs. reward applies here.

Cougar1978

Zero to previous owner, the profit is all mine, I am the new owner of the coin - otherwise would not have bought it.

Any profit for prior owner was his to make or lose while he owned the coin.

TopographicOceans

I'm looking forward to receiving a check for 80% of the profit once you sell our newly slabbed coin.

panexpoguy

If you feel it would be the right thing to do to share in your windfall, then do so. The good feeling will last much longer than the cash difference would.

SeattleSlammer

I expect to try to surprise the seller with a split on the profit upon resale.


You're a good egg.
But the surprise part just went out the window.

keets

the grading "game" being what it is, I think your willingness to even consider sharing some of the upside speaks well of your character and the seller should be grateful for whatever you send him.

Walkerfan

Originally posted by: keets

the grading "game" being what it is, I think your willingness to even consider sharing some of the upside speaks well of your character and the seller should be grateful for whatever you send him.

Boosibri

Decent advice. Zero split.

Pokermandude

You spent the time, effort and money to submit it. It happened to turn out favorably.

You don't owe the previous owner anything.

mariner67

I once sold an item on the BST quickly because I needed some fast cash, should have researched it a bit more…the buyer did inform me that when graded it was worth a lot more than price asked/paid.
He never offered any kick back of profit and I did not expect any.
You took the gamble, you win.
Simple as that.
You should be commended for your "thought" however.
JMHO.

Bochiman

A few thoughts....



* It's cool that you were thinking that way

* If it had a return privilege, and if you would have returned it when you received it from the seller, for any reason that was appropriate, then it wasn't really "sight-unseen gamble"....your risk was small to none if there was a return available.

* If you are keeping the coin for your collection, then I think there is nothing due, as the value may go up, or may go down.

* If you are flipping it/selling it soon, then, while there is likely zero expectations from the seller, sending something may be cool and appreciated. Depends what the delta is....a 10% bit on a $3000 difference is a nice $300 that was unexpected. $10 on a $100 delta is not that big of a deal.



Your transaction, your decision though

VanHalen

Okay I give. Is this a $6000 coin in 65 that you bought for $400?

pocketpiececommems

If you sold a MS64 coin on eBay and it got cherry picked and submitted again and came back as a 66 worth 20K would you expect part of the profits

jesbroken

If you paid the seller what he/she was asking and you were happy with the sale and the seller was happy, all is well. Unless the difference was tremendous and the seller had missed the variety or such, I would not muddy the water with splitting your good fortune for the risk you took.

Nice of you to wish to do what you felt right, but I do not feel it necessary.

Jim

USMarine6

I'll share a short story that happened to me recently.

I work as a sub contractor and like most do side jobs at night and on the weekends. I quoted a guy $1700 to install skirting on his mobile home. He thought the price was more the reasonable and told me to go ahead and do it. He left for the day and wrote the check saying that he wouldn't be back until late long after we would be done. The job went very smooth and I used a lot less material than I thought I would.
The next day I returned with a check for him for $100 and told him that I had overcharged him. He kinda chuckled and said that he appreciated the honesty and that I should put the check back in my wallet. We had a hand shake and I left.
The day after that I received 3 calls from people in the mobile home park to work on their homes. Just food for thought that might relate to your situation.

DollarAfterDollar

The seller really has no reason to "expect" anything however, you're desire is to do the right thing. There are advantages to doing just that.

Examples:

The seller might contact you first before doing anything with future coins he think you might like.

The seller might provide education or experience that could prove helpful in some unexpected way in the future.

The seller might tell others of your honesty and in doing so might drive more business.

There's little downside.

BAJJERFAN

Originally posted by: OPA

Hypothetically....If you purchase a winning lottery ticket from your weekly shopping grocery store, would you split your winnings with them? Of course not. Uncle Sam will take care of that just like he will when it's time for you to you sell your item.

Some people reward the person who sold the ticket to them. The lottery pays a commish to the selling business.

DollarAfterDollar

I recently posted a Proof set on E-Bay for a friend. A totally random shopper noticed that one of the coins was a very rare re-cut die variety.

I told the person that I'd verify, encapsulate and reward him for his input after sale.

I intend to do exactly that, and it's not even my coin.

BAJJERFAN

Originally posted by: coindeuce

All good advice here. In retrospect, I did take a sight unseen gamble on the purchase, as the difference in market value relates precisely to the spread over one grade point. I'll accept the old adage of risk vs. reward applies here.

Did you possibly out yourself by posting about it here?

Outhaul

Originally posted by: braddick
Only if you believe the coin, if returned altered by PCGS would have allowed you a return with the seller would I then consider paying an additional premium.
Otherwise, the seller could have easily submitted and subsequently sold the coin for market value vs the avenue he took (selling it to you raw).

Personally, as you took the gamble I wouldn't think further compensation is necessary.
Winning a large jackpot in Vegas doesn't give me pause to then consider giving the house a portion of those winnings back.

Many years ag, I sold a forum member a Lexington/Concord for MS-63 money in an NGC 63 holder. I knew it looked a little better but I didn't bother resubmitting because the spread wasn't worth it.

He sent it in and it came back in a 66 holder. While I didn't expect anything out of it, he really didn't have to rub it in my face every chance he got.

Bottom line, if I sell you a coin and you resubmit it, I don't give a furry rat's bee-hind about your windfall. I don't wanna know.

Cheers

Bob

OPA

Originally posted by: BAJJERFAN

Originally posted by: OPA
Hypothetically....If you purchase a winning lottery ticket from your weekly shopping grocery store, would you split your winnings with them? Of course not. Uncle Sam will take care of that just like he will when it's time for you to you sell your item.

Some people reward the person who sold the ticket to them. The lottery pays a commish to the selling business.

Some people also collect "pet rocks." True, the lottery does pay a commission to the OWNER of the business, but not to the selling clerk.

Sonorandesertrat

You purchased the coin at an agreed-upon price. You then sent it in, thinking it might grade X---doing this ALWAYS entails a risk. The previous owner did not share in that risk by sharing grading costs with you. Therefore, you have no ethical duty to give him any of the reward. If the coin had X-1 or X-2 or worse, would you have gone back to the prior owner and asked for money back? Not unless this was part of the purchase agreement.

That said, 'playing nice' would win you brownie points, perhaps early shots at nice coins in the future.

Wingsrule

Ask him/her their favorite charity and make a donation in their name.

BAJJERFAN

Originally posted by: OPA

Originally posted by: BAJJERFAN

Originally posted by: OPA

Hypothetically....If you purchase a winning lottery ticket from your weekly shopping grocery store, would you split your winnings with them? Of course not. Uncle Sam will take care of that just like he will when it's time for you to you sell your item.

Some people reward the person who sold the ticket to them. The lottery pays a commish to the selling business.

Some people also collect "pet rocks." True, the lottery does pay a commission to the OWNER of the business, but not to the selling clerk.

Some winners also tip the selling clerk!

BryceM

If you decide to do something like this, I'd do it quietly, discretely, and not make much noise about it. It's a nice gesture, but at this point some of the altruism will be tarnished. I've been in similar situations, and after much thought, decided it was probably better to just enjoy it. No good deed goes unpunished, and trying to be nice can actually create problems or feelings of distrust where there really shouldn't be any.

Catbert

Act on your instincts. Ask seller for a specific charitable interest and donate in the sellers name.