How long should price quotes last?
BLUEJAYWAY
Posts: 10,585 ✭✭✭✭✭
Called 2 local shops to sell silver. 1 quote was for today,firm, not to change before I got there. Other stated could change by time got to shop not necessarily an increase in offer. Most likely to allow for a drop possibility.
Who to consider?
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
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Both policies are fair. The proprietor told you upfront the parameters of the deal, so it is up to you to now determine if you will engage.
In honor of the memory of Cpl. Michael E. Thompson
I prefer the former, but understand the latter.
I don't argue with them as it is what it is, and it is their business model. I take it or leave it, without arguing.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
The best dealer response would be "5% back of current spot" during a volatile market period.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
The LCS by me posts spot in the morning and doesn't change it for that business day.
COPPER is gutter !
Consider an on-site or immediate purchase online quote. PM prices are volatile and sellers honor prices accordingly. Most on-line sellers have an algorithm tied to current spot so that their prices are constantly updated. When you buy from them you get the current sell price.
The East Is Buying Gold. The West Is Buying Time.
I don’t consider a quote by phone to be valid for more than the time it takes for the caller to get to me. That’s fair enough. And still, I get answers like : “I’m thinking about it” , even after the quote.
``https://ebay.us/m/KxolR5
Even as the refinery will pay dealer 10% back ? That could wipe a dealer out pretty quick.
``https://ebay.us/m/KxolR5
Offering a price over the phone is kind of pointless to me if said offer does not allow for the travel time to the shop. Up or down price can't change that much in a 1/2 hour unless a catastrophic event occurs.
And if their
price to buy went up en route would the dealer offer me more for the silver? I think not.
I suppose one could just park their car outside the shop for the day and run in/out every 5 minutes to verify a buy price.😀
Before I call, I jot down the current silver price. When I get to the shop, I check the price again. My assumption is the quote will still be valid if things haven't got crazy. That's always worked out so far. Key word, 'so far'...
Dave
I think it’s the dealers call. I’d be more inclined to deal with dealer 1 but understand why dealer 2 would be reluctant in this market to give a firm price. Some online dealers have a time limit (5 minutes, 10 minutes, etc.) on how long the price for an item in a cart is good for.
At coin shows, when offered a coin for sale to a dealer at his table, I've often heard the dealer say, "My offer is good until you leave my table." In other words, if you then take your coin to get offers from 25 other dealers at the coin show in an attempt to get a higher offer, I may no longer want to buy your coin at my original offer when you bring it back to my table.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Have an offer of $300.00 for a roll of quarters. No slicks. Fair?
And no, this is not a post to sell the roll here.
Melt is currently $348 so your being offered 16% back of spot. Sounds pretty brutal to me but then nobody and I mean nobody is buying junk gutter at the moment. That said I doubt you would find a better offer elsewhere. Life in the gutter as they say. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
I think a better explanation is nobody is paying any numismatic premium on 90% bullion with current high prices. You need to weigh the roll and see if it weights 250 grams to truly = 7.233 troy ozs of silver for $348 melt. If those quarters lost 7% or more of their face due to circulation, that offer is not that bad and maybe 10% of less then melt. If AU then it is a light offer.