Being on a dealer's want list

Bochiman · November 13, 2012 2:07PM

I appreciate some of the dealers I deal with.....and am happy to give them want lists.
There are some others though, one in particular, that I get a dry chuckle from whenever I get email from them about my want list with them........it is usually for a coin that I have seen on another dealer's site (different dealers at different times) for less money.

Point in hand....just got an offer to buy a coin (that I have filled the slot for recently) and thought to myself "wow....that coin looks familiar......wonder why...".....I took 2 minutes to go through half a dozen dealer sites that I frequent and, low and behold! There is the exact same coin for hundreds less, still being offered. Coin is 100% the same coin.

Yep...I know there is value, I know everyone needs to pay their bills, etc etc etc.

Still, kind of rubs me the wrong way to see the exact same coin offered to me for hundreds more than I, as an informed consumer, could find myself and buy direct.

Sorry if this is ranty, but I know others have likely run into this as well and I just want to let folks know to do due diligence when being offered a coin.....some are truly "fresh and new" and some are not but some dealers just wnat to tell you that.

DeliaBug · November 13, 2012 2:16PM

Was the mark up more than what would be approprate as a finders fee? It is a want list and he found it for you, so.......

mrpotatoheadd · November 13, 2012 2:33PM

As it appears from your post you're not likely to buy anything from that particular dealer, sounds like you should probably tell him to stop looking for things on your want list.

Bochiman · November 13, 2012 3:48PM

<< As it appears from your post you're not likely to buy anything from that particular dealer, sounds like you should probably tell him to stop looking for things on your want list. >>

Taters....you shouldn't make assumptions. You are usually wrong

I have bought, and will continue to buy, items that they have that I want. However, I do do due diligence and when a dealer "borrows" a coin to sell, and it ISN'T specifically for me (ie...still being sold and it is offered to more than myself), then I am less likely. Also, in this case, the slot was already filled in my list. Would it kill me to not buy from this dealer again? Nope. Again, would I buy from them if they had the coin I wanted at a price I was ok with? Yep. That's why I check the website.
Again...you really should assume

<< Was the mark up more than what would be approprate as a finders fee? It is a want list and he found it for you, so....... >>

Depends...what's "appropriate"? I have paid much less for other reputable dealers who did a lot more to find me a coin. I don't mind paying a fair price, nor do I mind paying for a service.
It's just when it seems a little "spongy" that I don't like it.

Elcontador · November 13, 2012 5:56PM

Based on my experience, I find want lists to be a waste of time. Once every handful of years a dealer I know will find a coin I have been looking for.

ambro51 · November 13, 2012 9:58PM

Probably the "want list" works best between a well networked dealer who has access to material "not formally for sale" and is your wide ranging eyes and ears. I agree it's dumb to pay dealer x a fee because he took a few minutes to google your coin and seen dealer y has it for sale. You're padding his pockets there. BUT if that dealer does his homework and ferrets out a hidden or superior piece he earns his fee

messydesk · November 13, 2012 10:27PM

I would think a polite reply to dealer X saying that you already saw the coin when dealer Y had it on his website and that it wasn't for you would be a gentle whack upside the head that would tell dealer X to do more for you than search others' websites if he wants your business. If, on the other hand, dealer X is a real jagstein, then he'll do you both a favor and stop trying to service your want list altogether.

BillJones · November 13, 2012 10:34PM

One mistake that some collectors make with want lists is that they spread them out to too many dealers. That can work to your disadvantage because if an item is really hard to find, those dealers might end up competing with each other to get it, which could drive up the price to you. There is also the risk two dealers will get the same item, and then you will have to tell one of them "No" which can hurt your credibility.

I did a lot of want list work when I was a dealer. Sometimes it is really hard work because you have track down items that are not easy to find. Also the dealer has to maintain records to develop shopping lists and want list match files. This involves time and effort that many dealers don't want to expend. When I was collector I had trouble finding dealers who would provide want list services effectively.

Given the effort, the dealer is doing you a service when he fills your want list. Yes, you might find the item yourself for less money, but remember that you had to travel to a show to find it, which costs money, and spend YOUR TIME, which might be more valuable doing something else.

As a collector I've used a couple of dealers for want list services over the years. I never had more than two dealers looking at once, and usually it was only one. I did not "broadcast" my want list to a lot of people.

barrytrot · November 13, 2012 10:40PM

I would certainly remove that person from my "want list" holders and I agree with BillJones, my belief is 1 dealer has your want list for a particular coin. Naturally if you have some coins that one dealer specializes in and others that another dealer specializes in, creating 2 separate lists makes sense, but each coin should be on a single "want list" for best results.

PerryHall · November 13, 2012 10:40PM

Are coins that are on a want list usually priced at or above full retail since the dealer knows that you need the coin for your collection?

LanceNewmanOCC · November 13, 2012 10:58PM

<< Was the mark up more than what would be approprate as a finders fee? It is a want list and he found it for you, so....... >>

+1

so long as the mark-up is fair, of course fair is debatable.
.

Lakesammman · November 14, 2012 12:08AM

Works well if you specialize in a small area and work with the specialty dealers. You just won't see the coins they handle any other way.

I used to put THEM on MY list - would call them the day after every major show.

yellowkid · November 14, 2012 12:19AM

Perhaps I'm too picky, but I've never had any luck, in any collecting field, with "want lists." Maybe if you are filling holes in an album then something someone else finds for you is all right, but if you want the best looking pieces be prepared to pay a steep premium. and then it may still be a coin that doesn't appeal to you.
As an antique dealer anytime I have had something that someone else has told we they "had to have," when I find one, and the cost doesn't seem to matter, they don't need it any more. Better to have a relationship where the dealer knows your field of interest and that something might appeal to you.

mrpotatoheadd · November 14, 2012 12:20AM

<< Taters....you shouldn't make assumptions. You are usually wrong

>>

I wasn't assuming anything. You wrote:

"I appreciate some of the dealers I deal with...
There are some others though...
Yep...I know there is value, I know everyone needs to pay their bills, etc etc etc.
Still, kind of rubs me the wrong way...
I just want to let folks know to do due diligence when being offered a coin.....some are truly "fresh and new" and some are not but some dealers just wnat to tell you that."

Your above comments sure don't make it sound like you're particularly enthusiastic about doing business with that dealer, and that is what I was responding to. Kind of hard to comment on things you didn't say (like maybe "I have bought, and will continue to buy, items that they have that I want", for example), wouldn't you think?

edited to add... I'm not trying to give you a hard time here. As I said, my first post was a response to what you wrote. If you had also mentioned that you have done and continue to do business with the dealer, I would not have posted what I did.

lkeigwin · November 14, 2012 12:47AM

<< I would think a polite reply to dealer X saying that you already saw the coin when dealer Y had it on his website and that it wasn't for you would be a gentle whack upside the head that would tell dealer X to do more for you than search others' websites if he wants your business. If, on the other hand, dealer X is a real jagstein, then he'll do you both a favor and stop trying to service your want list altogether. >>

Lance.

mrpotatoheadd · November 14, 2012 1:11AM

<< I would think a polite reply to dealer X saying that you already saw the coin when dealer Y had it on his website and that it wasn't for you would be a gentle whack upside the head that would tell dealer X to do more for you than search others' websites if he wants your business. >>

How do you know dealer X didn't do "more for you than search others' websites"? Is it not possible that dealer X actually talked to dealer Y in a search to find the coin?

ahopewell55 · November 14, 2012 1:24AM

At the recent ANA Show in Philadelphia this past August, I went to a well-known dealer's table to look at a coin that was on his web site. I knew what he was asking there and also on Collectors Corner. He offered me a price a couple of hundred dollars above that. It was not a negotiation ploy, that was his best price . So I left. I won't buy from him now. Don't these guys know that everything is on-line? They must think we're stupid or incredibly naive.

ahopewell55 · November 14, 2012 1:25AM

Oh, and the coin is still on his web site at a lower price than before.

LindeDad · November 14, 2012 1:51AM

If you had already filled the hole why was it still on a want list?
If you can find it why put it on a want list seems like showing your hand at the table to me.
As for one dealer trying to sell another's inventory it's done quit often it seems, and yes usually at a higher price than one usually wants to pay.

Elcontador · November 14, 2012 1:53AM

<< At the recent ANA Show in Philadelphia this past August, I went to a well-known dealer's table to look at a coin that was on his web site. I knew what he was asking there and also on Collectors Corner. He offered me a price a couple of hundred dollars above that. It was not a negotiation ploy, that was his best price . So I left. I won't buy from him now. Don't these guys know that everything is on-line? They must think we're stupid or incredibly naive. >>

Wrong - everything is NOT online. Most material I look for is NOT online. One of the few times dealer contacts have worked for me led to my purchasing the AU Bust $ I was trying to buy for eight years. The coin was never listed anywhere.

RYK · November 14, 2012 2:28AM

<< 

<< At the recent ANA Show in Philadelphia this past August, I went to a well-known dealer's table to look at a coin that was on his web site. I knew what he was asking there and also on Collectors Corner. He offered me a price a couple of hundred dollars above that. It was not a negotiation ploy, that was his best price . So I left. I won't buy from him now. Don't these guys know that everything is on-line? They must think we're stupid or incredibly naive. >>

Wrong - everything is NOT online. Most material I look for is NOT online. One of the few times dealer contacts have worked for me led to my purchasing the AU Bust $ I was trying to buy for eight years. The coin was never listed anywhere. >>

Agree. Many of my best purchases, over the years, never made it to a website.

BillJones · November 14, 2012 3:47AM

<< 

<< 

<< At the recent ANA Show in Philadelphia this past August, I went to a well-known dealer's table to look at a coin that was on his web site. I knew what he was asking there and also on Collectors Corner. He offered me a price a couple of hundred dollars above that. It was not a negotiation ploy, that was his best price . So I left. I won't buy from him now. Don't these guys know that everything is on-line? They must think we're stupid or incredibly naive. >>

Wrong - everything is NOT online. Most material I look for is NOT online. One of the few times dealer contacts have worked for me led to my purchasing the AU Bust $ I was trying to buy for eight years. The coin was never listed anywhere. >>

Agree. Many of my best purchases, over the years, never made it to a website. >>

All web site listing, like "Collectors Corner" do is give you a possible lead to an item. It's worked for me a few times, but most of the time it's just a matter of going from table to table at a show and getting lucky. I've also checked a dealer's web site before a show to see if he has anything I want. Sometimes that ends up in disappointment because it gets sold before I can see it.

magikbilly · November 14, 2012 4:12AM

I never talk about what I really want, or my logic etc.

Eric

Cakes · November 14, 2012 4:19AM

<< I appreciate some of the dealers I deal with.....and am happy to give them want lists.
There are some others though, one in particular, that I get a dry chuckle from whenever I get email from them about my want list with them........it is usually for a coin that I have seen on another dealer's site (different dealers at different times) for less money.

Point in hand....just got an offer to buy a coin (that I have filled the slot for recently) and thought to myself "wow....that coin looks familiar......wonder why...".....I took 2 minutes to go through half a dozen dealer sites that I frequent and, low and behold! There is the exact same coin for hundreds less, still being offered. Coin is 100% the same coin.

Yep...I know there is value, I know everyone needs to pay their bills, etc etc etc.

Still, kind of rubs me the wrong way to see the exact same coin offered to me for hundreds more than I, as an informed consumer, could find myself and buy direct.

Sorry if this is ranty, but I know others have likely run into this as well and I just want to let folks know to do due diligence when being offered a coin.....some are truly "fresh and new" and some are not but some dealers just wnat to tell you that. >>

Not ranty and I can totally relate. If someone is asking for your want list you expect them to be looking out for your best interest, not to take advantage of you.

Bochiman · November 14, 2012 4:21AM

<< If you had already filled the hole why was it still on a want list?
If you can find it why put it on a want list seems like showing your hand at the table to me.
As for one dealer trying to sell another's inventory it's done quit often it seems, and yes usually at a higher price than one usually wants to pay.

>>

Do you update your want list every day? I don't.
I also don't mind if I get offered a dupe, if it looks better and the price is right.

As for finding it and asking "why put it on a want list?", you, like MrTaterHead, are making quite a few assumptions......ever gone after a coin that you can't find in the grade you want, then see a handful of them in a short period of time after a long drought of none? I have....more than a few times.

Never ceases to amaze me when folks can't take what is written, at face value, and have to go negative and make assumptions. A lot of assumptions.

mrpotatoheadd · November 14, 2012 4:29AM

<< Never ceases to amaze me when folks can't take what is written, at face value, and have to go negative and make assumptions. A lot of assumptions. >>

I didn't assume anything. I responded directly to what you wrote in your first post. Not what I thought you were thinking or what I thought you might write later or anything. Just what you wrote. I can't help it if that bothers you.

Bochiman · November 14, 2012 4:49AM

<< 

<< Never ceases to amaze me when folks can't take what is written, at face value, and have to go negative and make assumptions. A lot of assumptions. >>

I didn't assume anything. I responded directly to what you wrote in your first post. Not what I thought you were thinking or what I thought you might write later or anything. Just what you wrote. I can't help it if that bothers you. >>

Again, you are assuming. Doesn't really "bother" me. Just par for the negative course from some.
I understand that having seen many replies by certain folks to all manners of threads.

You responded to my post the way you wanted. Nowhere did I say I wouldn't buy from them. I said it rubbed me the wrong way, and it does. Ever had to work with people that rubbed you the wrong way? Did you refuse to go back to work?

As with most things, lot of ways that things can go, but what I type is the way it went. From there, it is anyone's guess how things go in the future....which is why you shouldn't assume (I know...I know....you don't think you did assume....we get it already

).

mrpotatoheadd · November 14, 2012 5:20AM

<< You responded to my post the way you wanted. >>

??? What's unusual about that? Don't you reply to posts the way you want?

<< Nowhere did I say I wouldn't buy from them. >>

My point exactly. You didn't say it and I didn't respond to what you didn't say. If you had mentioned that you would buy from them, my response (if any) would have taken the additional information into consideration and would most certainly have been different.

<< I said it rubbed me the wrong way, and it does. >>

My comment accepted that claim at face value.

<< Ever had to work with people that rubbed you the wrong way? >>

Yes.

<< Did you refuse to go back to work? >>

No, but I'm not seeing the point. You don't work with/for the dealer, do you?

<< As with most things, lot of ways that things can go, but what I type is the way it went. >>

I didn't say it didn't.

<< From there, it is anyone's guess how things go in the future....which is why you shouldn't assume (I know...I know....you don't think you did assume....we get it already

). >>

You are, of course, free to assume that I'm assuming something I'm specifically telling you I'm not if that's what makes you happy.

edited to add... just to be clear, my original post in this thread was a conclusion based on the facts you presented. If you had presented different facts, I would likely have reached a different conclusion. And had I imagined facts that you did not present and based my conclusion on those imagined facts, that would be an assumption.

Being on a dealer's want list

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