How do you handle hagglers at shows?
Cougar1978
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Considering competition from other sellers for certain coins (US &World) can be fierce:
Haggling one has to be careful - quote too high lose the sale, quote too low not good for P&L.
Room for discount or something like: “already at best price, “it’s just $5 over what have in it”, that’s the lowest the consignor will go”,etc. or just leave enough room in original price quote so could come down some if haggling.
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I use one of those fly swatter electric tennis rackets.
I don't like haggling. Please note that I am not saying I view it as wrong, I just don't like engaging in it. If someone asks if I have room or whatever on a coin I will give them some type of answer that reflects what I am feeling at the moment, but that is the only answer they will get. In other words, if I get more requests about reducing a price I simply thank folks for their time and wish them well and put the coin away.
I've likely lost some sales and perhaps made some sales with that approach, but it allows me to enjoy my time more.
In honor of the memory of Cpl. Michael E. Thompson
"The principle of never accepting the first offer is fundamentally about creating space to explore these hidden reservations."
the22laws.com
I normally leave room to haggle, and would imagine other sellers do too.
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Not being a full time dealer or setting up at shows, I can tell you some of my toughest experiences was professional dealers haggling with me when trying to buy my coins, rather than collectors.
I don’t have prices on coins but a sell code and cost code on back of coin. This allows me flexibility especially considering mkt conditions and if a frequent big spender customer always wants 10 Oct off price quoted.
Yes other dealers, players may try to lowball, quote the sheet etc.
Other players, Dealers / I don’t care who they are or owe them anything except behave in a professional manner. Now if I am in the green, looking for cashflow - I might consider taking that deal offered by the dealer especially if the item been in inventory awhile. However if their offer is just too low just politely decline, stuff them in the backfield. They will try tricks like “well your competition over there has it for less.” Well that may be true but that could be a low end coin. In one instance I told this dealer guy “it’s already at my best price.” He walked off in a huff. I then went to that guys table that had the coin (his example) and it was a C coin by far. Players will try to rip you with all kinds of tricks.
I had a guy at my table in Mexico City haggle over a couple of Pesos (1 Peso = 5 US Cents) after already having given him a good discount. That pissed me off on principle since someone who can afford coins can surely afford a few Pesos.
Some folks "virtually haggle" by giving you a large banknote and forcing you to make lots of change (which I usually don't have). As I've gotten older, I have stopped accommodating them unless I can do it easily.
But I generally build some room into my asking price on the back of the coin and generally go with round numbers.
Agree how obnoxious they want low ball you on cheap stuff. Junk box sales can pay table expense if I have a good show on that stuff.
Yes on low ticket junk box stuff I might sometimes give them 10pct off but that’s it lol. Usually round down to even dollars if any discount at all (jb stuff). Guy picked out $8.75 junk box stuff rounded down to $8, he was happy.
As a seller, most dealers break out the grey sheet. Most of my collection are varieties and or nicely toned coins, which I find hard to sell to dealers over grey sheet, who do not specialize in such. There are occasions though that deals can be made. I have had a couple of collectors, who were gawking when my coins are out on the table in my transport/storage trays, approach me after I leave a dealers table and make a sale. Negotiating and persistence can pay off.
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You’d have to be a dumb-ass if you accepted a dealer’s first offer. Never have I done that. I check prices on line, such as PCGS price guide and CAC price and pop.
It’s equivalent to purchasing a new car. Do I pay the dealer’s first quote? Absolutely not! I’m not one to lowball in a ridiculously low offer, but I expect to pay, what I believe to be a fair price. I don’t want to steal a coin, as it is usually a compromise. Sometimes I may pay price guide, sometimes more, sometimes less. We both have to feel comfortable about the sale.
When the coin is already fairly priced, do you ask for a lower price?
No, I don’t. I pretty much deal with 2 brothers at a monthly local show, who only sell PCGS graded coins. Their prices are somewhat higher than I would pay, but they have very nice material and if it’s close to Price Guide, I’ll pay it. If it’s hundreds or thousands higher, we negotiate.
I'm not a fan of haggling. I'll play or pass as a buyer, and I'll quote you my price as a seller. If someone is buying or selling a bunch of things, sure, Ia discount could be reasonable. Selling a bunch of things at once is always nice. But I'm not going to argue with you for a one-off sale or purchase.
I actually made someone an offer on eBay just yesterday, for the first time probably in several years. The seller on eBay bought something at Stack's, then marked it up 4x, and now it's 2 years later and they're still trying to find a buyer. And the slab has a big crack in it now, that wasn't there in the Stack's listing. I offered them 2x of what they paid to Stack's, and I thought that was generous. They disagreed. Maybe I'll try them again if they still don't have a buyer after another couple of years.
I'm super bad at it. I just hate haggling. It's why I usually drive a new car for 15 years.
I'll usually say ''Nice coin. So what's your best price in this one?' I'll listen and then decide. No counteroffer. Just Y/N after that, and then I move on. Time is precious, and I don't want to waste their time.
Dave
Usually not.
A couple times when I was getting a good deal but then pushed it, the dealer checked “the sheet” and realized that the coin was under priced, end of negotiations.
A dealer friend years ago told me when offered a good deal, keep your poker face, keep your mouth shut, and just say that works. Don’t dicker, don’t gloat, just pay and move on.
A couple of months ago, I had an offer on an eBay lot that included a bunch of silver coins where I never updated the price after the recent runup in silver. It wasn't originally figured as a bullion lot, and I overlooked it. There was about $125 melt value in the lot, my listed price was $50 and the prospective buyer offered $30. I raised the price and declined the offer. The prospective buyer messaged me and asked if he could buy for the previously listed price. Sorry, no.
Young Numismatist • My Toned Coins
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As Warren Buffett says:
“Pigs get fed and hogs get slaughtered.”
If you feel the price is fair, then you should pay it.
As a buyer, I only Haggle when the price is completely out of line…
When I sell, I offer it at a fair price, so I don’t negotiate a lot.
If you’re looking for a rip or you’re a greedy wholesaler, then you should just move along, as I don’t fool with those types of people anymore.
I don’t sell a lot these days, but when I do, I like to sell to serious collectors and not other dealers. I’m not responsible for their bottom line. Especially, when they’re looking for a 50% to 100% profit margin.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
The example that still bothers me is when I sold a nice duplicate tough date large cent to a major EAC dealer. He examined it multiple times with different magnifiers, checked several different guides, consulted his helper, and chiseled me down to the last nickel, taking nearly 15 minutes, to where I was not going to go any lower and was ready to leave. He finally pulled the trigger and wrote me a check.
I saw him again a few weeks later and he had the coin marked up >3x what he paid for it.
I had a similar situation happen to me about seven years ago. It left such a bad taste in my mouth that I vowed that it would never happen again…and it hasn’t. This guy told me I was asking too much and argued with me for over 10 minutes with all of this BS rationale and finally paid me half of what I knew it was worth. I saw it in his case a week later for more than double what he paid me. His last words to me were: “you don’t have to sell it”. He knew he was taking advantage of me, when I was at my weakest moment.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I once saved $25,000 by stating simply “I’m going to buy this coin anyway but can you do anything on the price”?
I once saved almost $15,000 by purchasing from an ethical dealer rather than bidding on a comparable coin at auction. Bidding wars are real and can be brutal. It could’ve been even more than that, because you never know how high the winning bidder was willing to go.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Completely out of line, I consider there to be no hope and move on.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I start out with my research of “recent” auction sales (including GC, which has to be done separately) and if I decide the coin is already fairly priced, I do exactly as @tradedollarnut said above (but my purchases are at a shallower end of the pool than his). I say I’m putting my cards on the table, and buying this coin, but would greatly appreciate getting it at their very best price. Virtually all of the time they offer it at a slightly better price (roughly 5% - 10% less). Once they give me “that better price”, I NEVER ask “Can you do $50 less?”.
Sure, I may be paying a bit more than an excellent haggler, but at the end of the transaction with my method, I feel good, and I’m sure the dealer feels good! THAT’s one way of establishing a positive relationship with a dealer!
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Im not a dealer so im at the other end of the table.
So as a "haggler" I keep it real simple.
I ask "what's your best price"?
If they say thats about the best I can do and the coin is $60 as an example I might push it and say can you do $55. Looking for 10% off of a price is not rude.
If a coin is priced right I just buy it.
Student of numismatics and collector of Morgan dollars
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Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7 JWP BruceS bigjpst
JWP
Let me rephrase that…’significantly more than I’m comfortable paying.’ Obviously, when he’s asking beyond the moon and the stars; It’s time to move on..😉
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
One of the recent Cabbage Coin podcasts devoted significant time to discussing this topic. I found it informative. Here’s the YouTube link. The full episode it worth it, but the relevant portion starts at about minute 36:00.
Nothing is as expensive as free money.
Funny car story. I am handicapped and need an old school gunboat sedan for the leg room and for ease getting in and out. For this reason I have been driving a series of Mercury Grand Marquis since the late 1990's. Of course they discontinued them around 2011, but my third one was a nice low mileage used one that I got many years worth out of before it was damaged in a hailstorm. My insurance company totaled it out and wrote me a check but let me keep it, so I kept driving it for a while but started looking for another one.
One day back around 2020 I got a notice from CarFax that a dealer in my region had just gotten in a 2004 with about 42,000 miles on it. I called and asked if I could come and take a look at it and was told yes. Went there with my wife as a spare driver, took a test drive and said "How much," since they had not yet listed it with a price. The salesman I was working with said $9,000 and I said "I'll take it." They had previously told me that they would not take my old one as a trade-in since it had been totaled out.
I must have sounded too eager because the salesman said he had to go "Talk to the Manager," and he came back and said that he had given me "the wrong price" because it was the deluxe edition and the price was $11,000. I told him that he had quoted a price and that I had accepted it without making a counter offer (which I remembered from my course on Business Law in Business School) and that we had a contract. The bastiges spent half an hour trying to get me to pay more than 9, but I held my ground and bought it for 9 and then garaged it for two years till my damaged one gave up the ghost.
P.S.: It probably was worth the $11K, but because I knew NOT to dicker I got it for $9K.
Watch Shaquile O'Neal as the "Final Manager" -- hilarious (from "Fresh off the Boat")
https://fb.watch/GIHhEBFpZ2/
Always ask for the "Final Manager", ie., the manager's manager's manager.
We loved the Grand Marquis. I wish that we knew that they were going to be discontinued in 2011. We would probably have bought a couple and held them until the old one died.
I generally tell the dealers what I am looking for and what my budget is. If they can work with me, great, and if not I move along. If a coin is right at my upper range I will generally ask what their best price is….and many of the times I walk away with a new purchase. I think most dealers can see the interest and excitement when I find something I like, so they are happy to work with me and see their coins go to a good home. I’m not there to waste anyone’s time. I have always been treated nicely and with respect….and have a few nice coins to show for it. 😉
Yeah, that’s just a greedy buyer… Very uncool.
You definitely did the right thing!
My YouTube Channel
I like that attitude!
And you are certainly picking the nice coins!
Similarly I am always happy to pay for quality, myself.
My YouTube Channel
Me asking about a coin I'm interested in at a coin show:
Me: I really like the coin, what's your absolute bottom price?
Dealer: $400
Me: thanks, but I'll pass.
Dealer: OK, how about $375?
Obviously $400 wasn't his absolute bottom price. Sometimes a dealer will haggle with himself.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
I don't really haggle. When at a show I pull out the greysheet and typically offer bid. If dealer doesn't like it, I simply move onto the next. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Ideally transaction should be viewed as a win for both sides. I've bought one coin from a forum member. I asked for slight discount to which he agreed but then paid his ask price anyway since the difference was only $100. I might want to buy from him again and don't want to come across as a cheapskate. It is a coin with virtually no comparables available anywhere else. I've seen one somewhat better in 20+ years.
Do any of those dealers offered bid let the item go? CDN Bid bid is a wholesale price. CDN CPG is market sell. Coins that are PQ may trade higher. CAC items listed jhigher. Not to exclude the premiums on super toners. Perhaps if some low end coin languishing in inventory for ages one might blow it out at bid.
As far as somebody (at my table) pulling out the sheet trying to buy at bid (lol) I just ask “ Do you have one sell at that.” Or just tell them I am not a wholesaler, or it’s already at our best price / or make counter offer. One local show table fee is $150. That’s the most I am going to eat for that show. I will enjoy the free food, coffee, pick up some good buys (whosaler), get some good retail sales, and enjoy the show. The dealers can visit the whosaler get what they need before the public is let in. My first stop after setup. In summary may discount an item (haggling from buyer) assuming in the green. Not set in concrete.
Hagglers certainly a part of the scene. I usually see if they have something to sell me. I instruct my assistant l (she knows the cost codes and is good at sales, in addition to security) to see if price above cost can be negotiated, then she consults me for final approval let it go.
I’ve bought coins at Bid, or very close to, many times, and not because that was my offer. It was priced that way to me. Smaller dealers not on the national circuit etc that pay 10-20% back (or more) seem happy to sell at Bid.
Obviously at a show like FUN with national dealers selling exceptional coins with stickers etc I certainly wouldn’t expect to pay Bid.
I typically don't haggle at shows... I'll ask a dealer for their best price and either take it, or leave it. I've also learned that certain dealers will increase their "best price" if you walk away from their previous "best price"... lol...
Other than that, the best way to deal with a Hagler is Sugar Ray Leonard...
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An old-school dealer once gave me these words of advice:
Einstein’s view of God was non-traditional and pantheistic, focusing on the harmony, order, and intelligibility of the cosmos rather than a personal deity. His quotes reveal a profound respect for the universe’s mysteries, a belief in rational laws, and a moral philosophy grounded in compassion and understanding, bridging science and spirituality.
“My religion consists of a humble admiration of the illimitable superior spirit who reveals himself in the slight details we are able to perceive with our frail and feeble mind.”
Albert Einstein (14 March 1879--18 April 1955)
If I am in the green I will consider the offer. Cash flow at shows is a must. If too low may make a counter offer. Then if no go adios. Some shows it’s obvious the people coming in don’t have any money. Others can be a good selling show.
Some hagglers can be obnoxious (pushy low ballers). Just be polite and send them on their way.
In quoting prices one can leave haggle room.
The haggler's first offer has to be respectable for there to be any haggling. Some people start with an obscenely low offer fully expecting that they will be able to get the coin exactly midway between the marked price and the first offer.
Using rounding to simplify the math, (and since I retired in 2010), I remember having a $20 priced at $2200 when melt was $2000. Joe Schmuck come up and offers $1800, expecting to get it for $2,000. I put the coin back in the case, lock the case and return to my NYT crossword puzzle. He is offended that I will not haggle with him.
When selling, I enjoy a little haggling, but a low ball offer is insulting.
When buying, I haggle, unless it's WAY overpriced - any idiot can pay full retail.
That's a solid discussion on negotiation. The story about the CC morgan - the dealer hurt his own chances by upping the offers - the seller was the strong interest and got greedy thinking they could get a lot more. They definitely ended up paying more than they could have.
I personally just ask about their best price. Lots of sellers, pawn shops, etc. price things way over market and there is no reason to haggle with them.
Last week I had someone wanting pictures of the edge of a Bust half, never had anyone ask that. Followed by a low ball offer and an insinuation that it was at least made of silver.
A lot of my buying at a certain show is from wholesaler (before public comes in). so of course no haggling.
Ronnie says he just bumps price a tad up on stuff in case of haggling - “they want play games well me too”
Many generally leave room for pricing that will offset the hagglers. Not to worry / It’s all just fun and games. Good news - many hagglers in dark on coin pricing. This was evident with this one guy who always wanted 10 pct discount on anything quoted so knowing that… don’t let them talk you way down. Another response - Maybe give them 5 pct off and say “that’s the lowest the consignor will go.”
Just have a couple of play calls to offset their haggling. You could say that’s just $5 over what have on it, that’s the lowest the consignor will go, or make counter offer.
I consider it rude for a "buyer" to counter my "best price". You're basically calling me a liar. If someone counters my best price, I've actually revoked the offer on occasion. You asked my "best price", I gave it.
All comments reflect the opinion of the author, even when irrefutably accurate.
People do that on ebay all the time. They ask for an offer, i give it. They counter. I reject it. They offer to "split the difference". I always counter with the original price. On occasion, I've countered higher and offered to split the difference. They don't find it funny.
All comments reflect the opinion of the author, even when irrefutably accurate.