For fun: Ut oh - an "argument" with a forum member over how much commission to charge him

coinguy1 · August 27, 2006 12:34PM

I just sold a coin for a forum member. Unfortunately, we didn't have a precise agreement in place in advance, regarding how much commission I would charge him.

After I sold the coin, I quoted a commission amount , but his proposed number was $175 off of mine/different. I countered at $125 off of his original number and he then countered my counter at $25 off of my counter.

He has "threatened" to tear up my check (in payment for his coin, less commission) if I don't go along with his demands.

What shoud I do? Does/should it matter if I want to charge him more or less commission than he wants me to?

Leiana · August 27, 2006 12:37PM

You probably should have decided ahead of time.

-Amanda

robertpr · August 27, 2006 12:39PM

Judging from your cutsie pie language and the big smiley in your thread title, I'm assuming you want to take less commission than the consignor insists you should.

I am also assuming that since you did not specify so, this is not a hypothetical.

Tell me Mark, am I off on my assumptions?

curly · August 27, 2006 12:40PM

Mark,....You sure do come up with the posers. I would say just try to come up with the best price that is agreeable to both and then agree to not do business with each other again.

Hey...option two, if it is possible to get the coin back, then send it back and wish him well.

a039 · August 27, 2006 12:41PM

Wow, not a hypothetical for the first time! Your the extremely intelligent worldly coin dealer so its your fault for not laying down the ground rules in the first place. The choice to do further business with the client is of course yours.... Ok- I got played like a fiddle!

Bear · August 27, 2006 12:41PM

Coinguy, If I know you, probaly charged the fellow

much less then the fellow wants to pay you for your

efforts. I would suspect that the fellow is very pleased

by your efforts. Split the difference between what you

want to charge and the amount the person is wanting

to pay you.

Bunker · August 27, 2006 12:41PM

Judging from your cutsie pie language and the big smiley in your thread title, I'm assuming you want to take less commission than the consignor insists you should.

IGWT · August 27, 2006 12:41PM

I take it that he wants to pay a greater commission than you charged. I say you should let him curry favor except on coins where I want first shot.

CarlWohlforth · August 27, 2006 12:42PM

Good one! You are in the driver's seat. If he tears up your check that is a big heart ache, right? Not! Look, you are willing to work a compromise. You both know you will need to make prior arrangements if you both ever do a deal again (not likely!). This scenario boils down to who is willing to give up the other's business first.

FatMan · August 27, 2006 12:42PM

<< He has "threatened" to tear up my check (in payment for his coin, less commission) if I don't go along with his demands.

>>

Looks like a big plus for you.

Tsk, tsk, tsk...not getting all the ducks in row prior to a transaction, shame on you.

Peaceman · August 27, 2006 12:43PM

Seeing you agreed to sell the coin and did not provide the seller informationon about the cost of the consignment..... I think you know the rest...

ColonialCoinUnion · August 27, 2006 12:43PM

For an issue of this magnitude (assuming you didn't leave all the zeros off in your example), I'd tell the client that this one time I will take his counter of your counter but that you normally (always, just like every other dealer in the industry) charge x% for consignment sales and that any future consignment will be at that rate.

OK. Problem solved. When's lunch?

ANACONDA · August 27, 2006 12:43PM

What shoud I do?

Move in his direction to encourage repeat business. Don't lose a client over one deal. Besides, you're a lawyer and should know that you should have hammered the agreement before selling his coin.

CarlWohlforth · August 27, 2006 12:46PM

OK, I just read the other replies. If he is really willing to rip up your check because it is too big then I really would not know how to proceed. You can't force another person to take more dough if they don't want it. You could offer to donate the difference to a mutually agreeable charity. Yeah! That's it, donate the diff to a charity!

I believe the scenario that Mark paid too much is possible based on personal experience....

roadrunner · August 27, 2006 12:46PM

Since it wasn't discussed a fair number needs to be settled on. If me, I would take the $125 and leave it at that. There may be future deals if you decide to do so, that you can set firm numbers beforehand. I have similar floating deal with a friend who gives me a number that is fair. Circumstances vary from coin to coin. I've always had a hard time swallowing the 10% (or even 5% "commish
rule"). I took all the risk in the coin and now someone goes shopping with my coins while they shop theirs at the same time.
In the majority of the cases it adds very little time to the dealer's route but gives him some added benefits at no real cost.
Those same coins, often bring more business/exposure to said dealers, increases their contacts, and the buyers think those dealers are the source of these coins in many cases.

$50 is not worth fighting over imo.

roadrunner

Ricke · August 27, 2006 12:47PM

I dunno - but I question your decision to make your private dealings a public matter on a message board you (and your customer) frequent.

Regardless of 'not exactly naming names', it comes across as rather poor taste to some of us other members, and makes other people wonder if their dealings with you will be made a 'hypothetical' public post.

Some folks don't like that.

IGWT · August 27, 2006 12:49PM

<< I dunno - but I question your decision to make your private dealings a public matter on a message board you (and your customer) frequent.

Regardless of 'not exactly naming names', it comes across as rather poor taste to some of us other members, and makes other people wonder if their dealings with you will be made a 'hypothetical' public post.

Some folks don't like that. >>

Yes, the reputations of two people are about to be ruined because both are too reasonable and generous.

Russ · August 27, 2006 12:49PM

I went through this exact thing with another forum member when a coin sold for way, way more than either of us anticipated. He beat me in to a compromise of about three times my usual fee.

Russ, NCNE

Fairlaneman · August 27, 2006 12:51PM

I do not think you were born yesterday so this argument is hog wash.

If the argument is not hog wash well just maybe you were born yesterday.

Ken

Ricke · August 27, 2006 12:52PM

<< Yes, the reputations of two people are about to be ruined because both are too reasonable and generous. >>

My bad, I misread the issue.

tjkillian · August 27, 2006 12:52PM

Because of the way you worded the problem, I would assume he is trying to give you more than you normally charge, and you are refusing to take the additional money. You do have that problem. I remember that I tried to pay you for work you did for me and you refused. Since I did not have my rifle with me, I could not force you.

I would take the additional money and give a nice coin to a YN.

Tom

coinbuf · August 27, 2006 12:59PM

<>

An excelent suggestion. BTW Laura indicated that you were banned in another thread??

Chris

IGWT · August 27, 2006 1:00PM

-- "My bad, I misread the issue." --

Coinguy intended you to misread the issue. He obviously needs a new outlet for hijinks because the First Strike is off limits now.

TwoSides2aCoin · August 27, 2006 1:01PM

what he considers a fair price for your work obviously is a lot different than what you thought

No offense, but he's holdin' the check , Mark. Whatever anyone thinks, you are at his mercy and generosity.

numobri · August 27, 2006 1:06PM

If the person is willing to give you FREE money,take it.I HATE IT when people refuse MY free money.

If the person wants to give you less,take what you can get and call it quits with said client.

JMO

Brian

coinguy1 · August 27, 2006 1:11PM

<<. BTW Laura indicated that you were banned in another thread??

>>

I saw that. Laura is obviously occasionally a bit behind the times, despite her best efforts and her large network of contacts/sources.

RYK · August 27, 2006 1:15PM

And now for my side of the story:

I memo'ed a coin to Mark for $2500, to be sold at or around $2750. The coin sat for a while, and Mark sold it for $2550. He told me he would send me a check for $2475, if that was okay. I replied, "Absoultely not! If you send me a check for a penny more than $2300, I will tear it up. You deserve at least 10%.

"

Mark replied that his final offer was $2425--take it or leave it. My reply was that I would not take a farthing more than $2400.

And then this

thread.

Everyone here knows that Mark is a good guy, and I hate to see him get stiffed--especially by himself and on my behalf.

Bear · August 27, 2006 1:16PM

We shouldnt tolerate reasonable and generous people.

After all, we all have our reputation of vicious, money pinching

double dealing sidewinders to uphold.

coinguy1 · August 27, 2006 1:18PM

<>

Robert, if that is correct, then you have just settled our argument - you will be getting a check for $2500 and not an anything less.

Russ · August 27, 2006 1:18PM

RYK,

I'd like to note that I'm not the hardass Mark is, so I'll be happy to let you win any similar arguments.

Russ, NCNE

Bochiman · August 27, 2006 1:19PM

Word of advice to those that don't know Mark well or how he posts things....

He is one of THE most upstanding guys, won't rip someone knowingly, bends over backwards for people, and yet, still likes to fun people

RYK · August 27, 2006 1:19PM

Robert, if that is correct, then you have just settled our argument - you will be getting a check for $2500 and not an anything less.

RIIIIIIIIPPPPPPPPPPPPPPPPP!

TwoSides2aCoin · August 27, 2006 1:27PM

Mark, do you do lawns ?

coindeuce · August 27, 2006 1:32PM

Huh? My initial thought before watching this issue get bandied around was- ruhroh, Mark has befallen hisself with an insidious conspiracy to gain more consignment business...

robertpr · August 27, 2006 1:42PM

<< Robert, if that is correct, then you have just settled our argument - you will be getting a check for $2500 and not an anything less.

RIIIIIIIIPPPPPPPPPPPPPPPPP!

>>

Robert, rather than ripping the check, just send it to me.

majorbigtime · August 27, 2006 1:46PM

<< What shoud I do?

Move in his direction to encourage repeat business. Don't lose a client over one deal. Besides, you're a lawyer and should know that you should have hammered the agreement before selling his coin. >>

Sage advice, counsellor!

deansmint · August 27, 2006 1:49PM

Shameless self-promotion anyone???

roadrunner · August 27, 2006 1:52PM

There are a few good guys out there like Mark (VERY few though) that hate to see their clients lose money or not make something on their coins. They'll bend over backwards, even cut their own throats (not literally) to help them out.

Still, I think 10% is a bit stiff when applied across the board. Mark was very generous as well as realistic in this case. Making 10% on a $100 coin is probably not enough, but 10% on a $10,000 or even $2500 coin is a different story. Your table fee at a large show can be covered on a few quick $2500 sales at 10%. After selling a few $10,000 coins that you have on consignment, you're making real money!

How come RYK seems to be at the center of all these thought provoking weekend threads???

roadrunner

Oldnewbie · August 27, 2006 2:08PM

<< Shameless self-promotion anyone??? >>

Yep, but Mark is a guy that needs to be in full veiw of all the newbies that venture on to these boards.

This hobby needs more "Coinguy1" dealers. Period.

deansmint · August 27, 2006 2:20PM

<< 

<< Shameless self-promotion anyone??? >>

Yep, but Mark is a guy that needs to be in full veiw of all the newbies that venture on to these boards.

This hobby needs more "Coinguy1" dealers. Period. >>

No contesting that, from what I have seen it seems as though he is nothing but a stand up guy. But to post how how little you charge on consignments and how your willing to turn away money for the sake of your clients best interest seems a little more like advertisement to me, kind of like tooting your own horn for everybody to hear.

dizzyfoxx · August 27, 2006 2:26PM

Sorry to hear this Mark. It's a tough situation, but I would hope the individual would see his/her way clear to work it out with you amicably.

michael · August 27, 2006 2:36PM

<<. BTW Laura indicated that you were banned in another thread?? >>

I saw that. Laura is obviously occasionally a bit behind the times, despite her best efforts and her large network of contacts/sources.

______________________________________________________________

Oldnewbie · August 27, 2006 2:41PM

<< 

<< 

<< Shameless self-promotion anyone??? >>

Yep, but Mark is a guy that needs to be in full veiw of all the newbies that venture on to these boards.

This hobby needs more "Coinguy1" dealers. Period. >>

No contesting that, from what I have seen it seems as though he is nothing but a stand up guy. But to post how how little you charge on consignments and how your willing to turn away money for the sake of your clients best interest seems a little more like advertisement to me, kind of like tooting your own horn for everybody to hear. >>

Again, yes, and it's in the best interest of of our little universe to point out that "THE GUY IS TELLING THE TRUTH" and I have no problem with him getting that message out.

If he deviates from "THE TRUTH", I'm sure this joint will rip him a new one.

SamByrd · August 27, 2006 2:45PM

very simple really, there was no agreement prior to the sale whatever the owner wants to pay you for your service is the settlement. dose not matter your cost are or what normal commision is, with no prior agreement the ball is in the owners court as to what he wants to pay.

Bochiman · August 27, 2006 3:04PM

<< 

<< 

<< Shameless self-promotion anyone??? >>

Yep, but Mark is a guy that needs to be in full veiw of all the newbies that venture on to these boards.

This hobby needs more "Coinguy1" dealers. Period. >>

No contesting that, from what I have seen it seems as though he is nothing but a stand up guy. But to post how how little you charge on consignments and how your willing to turn away money for the sake of your clients best interest seems a little more like advertisement to me, kind of like tooting your own horn for everybody to hear. >>

Ummmm.....so what? If you had ever worked with Mark, you would know he really isn't about the "self-promotion".
Also, I am sure Mark did this very "tongue in cheek" looking at who the "offending party" was

(hiya RYK

)

You've been on here for ~6 months. So, you probably haven't seen a ton of Mark's posts....you really should. Not only would I not begrudge him any self-promotion on here (which I don't think this was as he always tries to educate and have fun with his "hypotheticals") but again, I don't think he did it as such. Mark is the type that would wear his Eagle Scout outfit to the coin shows (and, given that he is even older than I am, I doubt it still fits him

).

Again, I think you are off base.

deansmint · August 27, 2006 3:09PM

<< Ummmm.....so what? If you had ever worked with Mark, you would know he really isn't about the "self-promotion".
Also, I am sure Mark did this very "tongue in cheek" looking at who the "offending party" was

(hiya RYK

)

You've been on here for ~6 months. So, you probably haven't seen a ton of Mark's posts....you really should. Not only would I not begrudge him any self-promotion on here (which I don't think this was as he always tries to educate and have fun with his "hypotheticals") but again, I don't think he did it as such. Mark is the type that would wear his Eagle Scout outfit to the coin shows (and, given that he is even older than I am, I doubt it still fits him

).

Again, I think you are off base. >>

Wouldn't be the first time. I guess if you take into account that he was willing to disclose that he wasn't capable of getting the dollar figure that he had initially quoted for the coin, then that offsets his willing to disclose his extreme generosity.

Bochiman · August 27, 2006 3:21PM

Like I said "Eagle Scout" (I would have said "boy scout", but he is a bit old for that

).

From my interactions with Mark, he has sent me coins for review (no money out of my pocket) and on the rare ONE that I sent back, which he had on consignment from another dealer as he didn't have one and they did, he REFUSED to allow me to pay return postage even when I asked to. He MADE me put it on his account.

There are many things that Mark does as a GREAT dealer which is why I 100% don't think this was blatant self-promotion. Also, the guy has a sense of humor (sometimes you have to hunt for the punchline though

) so, knowing that is what I based my post(s) on.

MikeInFL · August 28, 2006 12:19AM

Just take the money and quit complaining.

Sometimes I think Coinguy1 is a charity, or just independantly wealthy and very giving....Mike

bidask · August 28, 2006 6:48AM

Call him back and politely ask him if he would like to use you in the future to sell coins for him. If he says yes ask him to pay the commission you offered and pledge to get that more clear with him in the future. If he says no, pay him the commission he thinks is fair and move on.

itsnotjustme · August 28, 2006 6:51AM

Take his original offer and send the rest to a good charity, like me!

Bochiman · August 28, 2006 6:53AM

<< Take his original offer and send the rest to a good charity, like me! >>

Brian, you are finally admitting that you are a charity case?

For fun: Ut oh - an "argument" with a forum member over how much commission to charge him

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For fun: Ut oh - an &quot;argument&quot; with a forum member over how much commission to charge him

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For fun: Ut oh - an "argument" with a forum member over how much commission to charge him