@jmlanzaf said:
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.
The same thing happens to me a couple of times a year.
@jmlanzaf said:
On occasion, I've countered higher and offered to split the difference. They don't find it funny.
I've done this before but never heard back from the "buyer".
I go to a lot of shows and never ever pay asking price. I collect Morgan Dollars so there are always many dealers to choose from. I usually offer 85-90 % of asking price and if the offer is declined i move on,no harm no foul.
I find i have the best luck with my offers late in the day,on the last day of the show
Many times I may quote a price like for example $120 they come back with a counter offer, I may just simply say “I said it’s $120 (haggling burnout).
This one show the table fee is $150. That’s the most I can lose. But the psychology can be the walkup buyers have no idea what the price should be or any concept how to price coins, hence the haggling. On that scenario sellers may quote the price little bit higher (play game) then if haggling then room at least get the price they want.
I think a lot of them I encounter at shows are incompetent about pricing or want buy wholesale. I am not a wholesaler lol. If they want to buy like a dealer take a table at a show.
With my Accounting background I know exactly what I need to get for sales to offset fixed opex plus have a successful show in the green.
At shows I am commonly a buyer and infrequently a seller.
I avoid haggling as I view it as disrespectful to the dealer. When serious about an item I will ask for the seller's price. If I view the price as fair I will agree to the purchase price. If I think the price is a bit high I will make a note of the table location-item specifics-cost and tell the dealer that I will keep that item in mind. It is not uncommon that the dealer will then offer a better price. Those unsolicited reductions often result in my purchases. If I believe the seller's first offer is too optimistic I thank the dealer and move on but never criticize the seller's proposed price.
@MorganFanatic said:
I go to a lot of shows and never ever pay asking price. I collect Morgan Dollars so there are always many dealers to choose from. I usually offer 85-90 % of asking price and if the offer is declined i move on,no harm no foul.
I find i have the best luck with my offers late in the day,on the last day of the show
Good to know. If I raise my prices by 20%, I'll accept your offer and you'll happily pay more than my asking price.
All comments reflect the opinion of the author, even when irrefutably accurate.
@MorganFanatic said:
I go to a lot of shows and never ever pay asking price. I collect Morgan Dollars so there are always many dealers to choose from. I usually offer 85-90 % of asking price and if the offer is declined i move on,no harm no foul.
I find i have the best luck with my offers late in the day,on the last day of the show
Good to know. If I raise my prices by 20%, I'll accept your offer and you'll happily pay more than my asking price.
@jmlanzaf you don't believe this actually happens already?
So if a dealer has quoted a price that is 20% higher than a more realistic price it's rude to ask for a best price?
I think it's common to see overpriced coins expecting a negotiation.
Added: So do you think that a collector should pay this 20% high retail price if they want the coin.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7 JWP BruceS bigjpst
JWP
@Morgan13 said:
I think it's common to see overpriced coins expecting a negotiation.
It's this belief that finally encouraged me to increase my BIN eBay prices. They're still not overpriced (half my listings sell at the listed price), but I set them higher than I used to. I'd prefer to not play the game, but enough buyers are insisting on it anymore that it's financially imprudent not to.
@OnlyGoldIsMoney said:
At shows I am commonly a buyer and infrequently a seller.
I avoid haggling as I view it as disrespectful to the dealer. When serious about an item I will ask for the seller's price. If I view the price as fair I will agree to the purchase price. If I think the price is a bit high I will make a note of the table location-item specifics-cost and tell the dealer that I will keep that item in mind. It is not uncommon that the dealer will then offer a better price. Those unsolicited reductions often result in my purchases. If I believe the seller's first offer is too optimistic I thank the dealer and move on but never criticize the seller's proposed price.
Comments
Sometimes when people ask my "best price" I'll mess with them by saying best for who? best price for me or best price for you??
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
The same thing happens to me a couple of times a year.
I've done this before but never heard back from the "buyer".
I go to a lot of shows and never ever pay asking price. I collect Morgan Dollars so there are always many dealers to choose from. I usually offer 85-90 % of asking price and if the offer is declined i move on,no harm no foul.
I find i have the best luck with my offers late in the day,on the last day of the show
Many times I may quote a price like for example $120 they come back with a counter offer, I may just simply say “I said it’s $120 (haggling burnout).
This one show the table fee is $150. That’s the most I can lose. But the psychology can be the walkup buyers have no idea what the price should be or any concept how to price coins, hence the haggling. On that scenario sellers may quote the price little bit higher (play game) then if haggling then room at least get the price they want.
I think a lot of them I encounter at shows are incompetent about pricing or want buy wholesale. I am not a wholesaler lol. If they want to buy like a dealer take a table at a show.
With my Accounting background I know exactly what I need to get for sales to offset fixed opex plus have a successful show in the green.
I would never survive in the Turkish bazaars, I hate haggling.
If the price is a couple of hundred dollars and I like the coin, I just buy it. I have money and they are in the business of selling coins.
If I buy multiple coins from a seller, I will ask for a "best price" or a group buy discount. I usually get 5-7% and that is great.
I welcome them if they buy in the green (positive p&l). Gotta move them.
At shows I am commonly a buyer and infrequently a seller.
I avoid haggling as I view it as disrespectful to the dealer. When serious about an item I will ask for the seller's price. If I view the price as fair I will agree to the purchase price. If I think the price is a bit high I will make a note of the table location-item specifics-cost and tell the dealer that I will keep that item in mind. It is not uncommon that the dealer will then offer a better price. Those unsolicited reductions often result in my purchases. If I believe the seller's first offer is too optimistic I thank the dealer and move on but never criticize the seller's proposed price.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
March of Time - 27 Centuries in Gold
https://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=36590
Good to know. If I raise my prices by 20%, I'll accept your offer and you'll happily pay more than my asking price.
All comments reflect the opinion of the author, even when irrefutably accurate.
@jmlanzaf you don't believe this actually happens already?
So if a dealer has quoted a price that is 20% higher than a more realistic price it's rude to ask for a best price?
I think it's common to see overpriced coins expecting a negotiation.
Added: So do you think that a collector should pay this 20% high retail price if they want the coin.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7 JWP BruceS bigjpst
JWP
It's this belief that finally encouraged me to increase my BIN eBay prices. They're still not overpriced (half my listings sell at the listed price), but I set them higher than I used to. I'd prefer to not play the game, but enough buyers are insisting on it anymore that it's financially imprudent not to.
As a dealer I don't find it disrespectful at all
Micah Langford - https://www.oldglorycoinsandcurrency.com/