Some dealers may offer coins to other dealers at a lower price when a future reciprocal kindness is anticipated. It's called doing business. There aren't many collectors who would warrant these terms.
isn't this an explanation of why we should establish a good relationship with a dealer, only in reverse??
As a collector, I look first for the coin. Then the price - If it is reasonable, I buy.. if not, I will ask once for a better price. Then, either buy or walk. Wholesale, as a term, is not really relative to the coin market in it's original context. Like many words, it has come to mean something totally different. Now it just means 'much cheaper'.
There are rip off dealers... some, not the majority. All are in business to make a profit...That is to be expected. How much profit is basically up to the market. The 'market' is the buyer - each and every collector and other dealers. I read here that the business is down for sellers/dealers. Well, I am not looking for a lot of coins - however, the one's I am looking for have not yet been hit by the 'down' hammer. It would be nice to get a 'deal', however, for me, the 'deal' will be getting the coin I want at a fair price (fair being acceptable to me). Cheers, RickO
As others have mentioned I do not feel I am entitled to anything. My definition of “retail” is what I would expect pay for a coin at a B&M, coin show, a dealer’s website or in many cases at a Heritage auction. Wholesale is what I can sometimes buy on GC or eBay that are low start bid auctions, and on Heritage when the seller has not set a reserve/buy back price, and I win the auction for less than “retail”.
If I decide to sell the coins purchased at retail (per the definition above) I know I will most likely never sell that coin at that price or above it. The final sale price may get close to what I paid but after the eBay fees, PayPal fees, and shipping I will have lost money on the deal. So for me to pay retail it has to be a really nice coin or a coin I need but does not come up very often at that price/grade.
Personally I am not looking to make a profit on the coins I purchase for my collection, but if I need to sell for an emergency or to supplement my retirement I would prefer to not have to take a beating when I sell. A 10 to 15% loss is realistic and acceptable- but beyond that it would hurt. I sense this is why some posters on the forum are justifiably concerned about the future of the coin market, especially if they are purchasing mainly 4 to 5 figure coins.
Comments
Some dealers may offer coins to other dealers at a lower price when a future reciprocal kindness is anticipated. It's called doing business. There aren't many collectors who would warrant these terms.
isn't this an explanation of why we should establish a good relationship with a dealer, only in reverse??
Wait, wut? AS a collector I'm not suppose to ever look to get a discount?
Seriously?
As a collector, I look first for the coin. Then the price - If it is reasonable, I buy.. if not, I will ask once for a better price. Then, either buy or walk. Wholesale, as a term, is not really relative to the coin market in it's original context. Like many words, it has come to mean something totally different. Now it just means 'much cheaper'.
It would be nice to get a 'deal', however, for me, the 'deal' will be getting the coin I want at a fair price (fair being acceptable to me). Cheers, RickO
There are rip off dealers... some, not the majority. All are in business to make a profit...That is to be expected. How much profit is basically up to the market. The 'market' is the buyer - each and every collector and other dealers. I read here that the business is down for sellers/dealers. Well, I am not looking for a lot of coins - however, the one's I am looking for have not yet been hit by the 'down' hammer.
As others have mentioned I do not feel I am entitled to anything. My definition of “retail” is what I would expect pay for a coin at a B&M, coin show, a dealer’s website or in many cases at a Heritage auction. Wholesale is what I can sometimes buy on GC or eBay that are low start bid auctions, and on Heritage when the seller has not set a reserve/buy back price, and I win the auction for less than “retail”.
If I decide to sell the coins purchased at retail (per the definition above) I know I will most likely never sell that coin at that price or above it. The final sale price may get close to what I paid but after the eBay fees, PayPal fees, and shipping I will have lost money on the deal. So for me to pay retail it has to be a really nice coin or a coin I need but does not come up very often at that price/grade.
Personally I am not looking to make a profit on the coins I purchase for my collection, but if I need to sell for an emergency or to supplement my retirement I would prefer to not have to take a beating when I sell. A 10 to 15% loss is realistic and acceptable- but beyond that it would hurt. I sense this is why some posters on the forum are justifiably concerned about the future of the coin market, especially if they are purchasing mainly 4 to 5 figure coins.