@TonerGuy said:
What an awesome business! A dealer can cherry pick another dealer for $14,000 in coins, get a couple of upgrades, sell those coins, pay off the $14,000 to dealer one, pocket the coins and sell the ones that didnt upgrade later -- without laying out any money other than the grading fees on 6 coins!
Geez... I gotta become a dealer! Easy money!
Seriously, why do dealers do this ? Are coins really a Net 30 or even a Net 60 business ?
Sorry that happened to you though.
I understand it as AMRC still had the coins, he just set them aside, as he said!
Thank you for pointing that out. My reading comprehensive skills were lacking. lol
@wondercoin said:
Coinkat... you don't see a "problem" with not giving a regular good customer a few days to figure out how he is paying for $14k in coins? Did I miss the part that the dealer backed out of a deal? Wondercoin.
We don't know what terms he asked for. Apparently he left the show with no concern about the "deal" since he didn't get back in touch with the seller.
It is not that complicated or special. We always have dealers come by and pick out a few coins and then ask for an invoice. Invoices are then presented, and at some point (before the end of the show) people settle up. UNLESS there is some other requested agreement.
e.g.,
A dealer and I exchanged some ASE's and Mint Sets. I knew at the end of the deal he would owe me, and I told him DO NOT WORRY about it now. We can settle next time we see each other. It was too minor and we were all too busy to deal with it right then and there.
Another Dealer wanted to sell me more coins than was a good business decision to buy at the moment, and so he offered to give me the coins on "thirty days." They were nice so I agreed.
Another dealer paid me for some coins and asked that I hold the check until XX day. I agreed.
But short of any special considerations, it is understood that everyone settles by the end of the show.
MLAeBayNumismatics: "The greatest hobby in the world!"
Comments
Thank you for pointing that out. My reading comprehensive skills were lacking. lol
Totally unprofessional. What a jerk.
I expect payment at time of purchase - I don't set anything aside for anyone. At a show time is money first payer first serve.
As far as that guy picking them out lol and not coming back - get them upgraded for yourself.
When a big gun dealer comes up to your case like that they looking either buy them for nothing or pickoff for upgrade.
We don't know what terms he asked for. Apparently he left the show with no concern about the "deal" since he didn't get back in touch with the seller.
It is not that complicated or special. We always have dealers come by and pick out a few coins and then ask for an invoice. Invoices are then presented, and at some point (before the end of the show) people settle up. UNLESS there is some other requested agreement.
e.g.,
A dealer and I exchanged some ASE's and Mint Sets. I knew at the end of the deal he would owe me, and I told him DO NOT WORRY about it now. We can settle next time we see each other. It was too minor and we were all too busy to deal with it right then and there.
Another Dealer wanted to sell me more coins than was a good business decision to buy at the moment, and so he offered to give me the coins on "thirty days." They were nice so I agreed.
Another dealer paid me for some coins and asked that I hold the check until XX day. I agreed.
But short of any special considerations, it is understood that everyone settles by the end of the show.