Assuming the coin market is in a decline...

RYK · January 27, 2009 8:28AM

which is not an unreasonable assumption, is it poor form to make offers on dealer inventory coins that are lower than you would have paid six months ago? Or is the proper etiquette to wait until the list prices are lowered?

doh · January 27, 2009 8:30AM

I say make the offer. You never know, you could be waiting quite awhile for some dealers to lower their prices. It's better to make an offer and do some negotiating.

bidask · January 27, 2009 8:35AM

<< which is not an unreasonable assumption, is it poor form to make offers on dealer inventory coins that are lower than you would have paid six months ago? Or is the proper etiquette to wait until the list prices are lowered? >>

Not poor form to make an offer.

AnkurJ · January 27, 2009 8:35AM

Nope

Bayard1908 · January 27, 2009 8:36AM

There's nothing wrong with making an offer, as long as the offer is grounded in reason. In contrast, people who regularly make lowball or half price offers don't do themselves any favors.

Longacre · January 27, 2009 8:41AM

It's not poor form, but I will take it one step further-- is it poor form to offer a lower price to a dealer who you know goes belly-up every two years or so, even during a raging bull market? There is rumored to be such an animal out there, and I was thinking of contacting him and making some sharp buys.

RYK · January 27, 2009 8:48AM

I am buoyed to learn that Longacre endorses these offers. I would have thought it would be beneath his station to negotiate down a price.

IGWT · January 27, 2009 8:58AM

I'm all in favor of finding the bottom.

scoobydeux · January 27, 2009 9:11AM

I've got no problem with it. It's all fundamentally supply and demand, so why not?

DoubleEagle59 · January 27, 2009 9:18AM

Why does everyone have an 'ethics' problem when a downturn in the economy happens.

There is nothing wrong with trying to buy a coin for yourself at the lowest price possible.

Offer away!!

You're not holding a gun to his head.

The dealer either says 'yes' or 'no' to your offer.

What's wrong with that?

Unknown · January 27, 2009 9:21AM

This content has been removed.

CoinJunkie · January 27, 2009 9:27AM

<< Why does everyone have an 'ethics' problem when a downturn in the economy happens.

There is nothing wrong with trying to buy a coin for yourself at the lowest price possible.

Offer away!! >>

I agree, in principle. However, I usually preface any offer with the question: "Are you
negotiable on price?"

commoncents05 · January 27, 2009 9:27AM

No harm in making an offer.

-Paul

Billet7 · January 27, 2009 9:27AM

I don't think making an offer should be insulting...we live in a free market (well...kind of) unless you are offering insulting prices. The fact of the matter is, alot of dealers inflate prices so that when they do recieve an offer, they can accept it. Obviously not all dealers are like this. In my mind if you don't send the offer, you have a likelihood of loosing the coin to someone else that did.

One suggestion...be tactful with your offering. If they are hurting for the sale, don't hurt their pride in the process.

Longacre · January 27, 2009 9:28AM

<< I am buoyed to learn that Longacre endorses these offers. I would have thought it would be beneath his station to negotiate down a price.

>>

You know, of course, that I would have my people do the negotiating for me.

Billet7 · January 27, 2009 9:30AM

Longacre you crack me up.

IGWT · January 27, 2009 9:32AM

You know, of course, that I would have my people do the negotiating for me.

Happy I could help!

OnlyGoldIsMoney · January 27, 2009 9:39AM

No. It is not bad form to make an offer that you believe is more in line with the current market. I would also expect dealers to offer less for coins I am trying to sell. If you wait for a lower sticker price you could lose the coin to someone ready to make a lower but realistic offer.

291fifth · January 27, 2009 9:42AM

If you are at a show, observe carefully:

1. Is the dealer now eating his chili dog without the chili to save money?

2. Is he now sharing a table with Stinky Sam?

3. Are his stacks of Morgan dollar slabs covered with dust?

4. Is his "Paying Top Dollar" electronic sign failing to blink properly?

If this is the case he is desperate and will likely accept your insultingly low offer. Go for it.

RYK · January 27, 2009 9:52AM

<< If you are at a show, observe carefully:

1. Is the dealer now eating his chili dog without the chili to save money?

2. Is he now sharing a table with Stinky Sam?

3. Are his stacks of Morgan dollar slabs covered with dust?

4. Is his "Paying Top Dollar" electronic sign failing to blink properly?

If this is the case he is desperate and will likely accept your insultingly low offer. Go for it. >>

Now, that's hilarious, 291!!!

IGWT · January 27, 2009 9:55AM

-- Now, that's hilarious, 291!!! --

Verily!

Edited to change "." to "!"

oreville · January 27, 2009 12:01PM

No.

Too early.

Wait until the end of a show, the last day, when the dealer is about ready to pack up.

Gloomy, saddened and without hope. A lousy show.

Then make the offer but make sure you are not gleeful about it.

Why? You as the new owner of the coin may face the same gloomy result on your new coin.

A coin with downward momentum in price has a 50% chance on continuing such downward in price.

shorecoll · January 27, 2009 12:49PM

"I'm all in favor of finding the bottom. "

I like big bottoms and I do not lie, you other brothers can deny.

When a dealer walks in with a little bitty price and a round thing in your face. You get...you get the picture!!!

PutTogether · January 27, 2009 1:51PM

Make an offer, no harm in that. But as someone who sells things for a living, I can tell you that it is incredibly annoying when someone makes an offer and then in the same breath attempts to justify that offer.

An annoying example: "Well, since the coin market is down and all, and you should feel lucky to have my business, I will offer X for this coin"

A non annoying offer: "I will offer you X for the coin"

In either case X = any dollar amount you like.

Now whether or not you care about annoying someone is up to you.

Lakesammman · January 27, 2009 10:49PM

You mean to tell me that there are people who pay the sticker price?

garsmith · January 28, 2009 12:08AM

Make the offer, the worst they can do is say no and the ones they say yes to you got a discount on.

lathmach · January 28, 2009 2:21AM

The last show I was at, I made an offer to a dealer on a coin. He hemmed and hawwed and seemed unable to make a decision either way, so I said "catch ya later" and moved on.

Ray

RichieURich · January 28, 2009 2:30AM

<< Make an offer, no harm in that. But as someone who sells things for a living, I can tell you that it is incredibly annoying when someone makes an offer and then in the same breath attempts to justify that offer.

An annoying example: "Well, since the coin market is down and all, and you should feel lucky to have my business, I will offer X for this coin"

A non annoying offer: "I will offer you X for the coin"

In either case X = any dollar amount you like.

Now whether or not you care about annoying someone is up to you. >>

As a dealer, I appreciate getting an offer on any coin, as long as the offer is reasonable. However, to stay on the dealer's good side, please do not do either of the following:
(1) ask the prices of a stack of coins, and then counter-offer on every coin, or
(2) ask for my BEST price, then counter-offer my best price. (If you ask for my best price, I will give it to you. However, if you want to cut my best price, the number I gave you is no longer my best price. Then you have made me look like a liar.)
Just my opinion.

TavernTreasures · January 28, 2009 3:29AM

TavernTreasures · January 28, 2009 3:33AM

<< 

<< Make an offer, no harm in that. But as someone who sells things for a living, I can tell you that it is incredibly annoying when someone makes an offer and then in the same breath attempts to justify that offer.

An annoying example: "Well, since the coin market is down and all, and you should feel lucky to have my business, I will offer X for this coin"

A non annoying offer: "I will offer you X for the coin"

In either case X = any dollar amount you like.

Now whether or not you care about annoying someone is up to you. >>

As a dealer, I appreciate getting an offer on any coin, as long as the offer is reasonable. However, to stay on the dealer's good side, please do not do either of the following:
(1) ask the prices of a stack of coins, and then counter-offer on every coin, or
(2) ask for my BEST price, then counter-offer my best price. (If you ask for my best price, I will give it to you. However, if you want to cut my best price, the number I gave you is no longer my best price. Then you have made me look like a liar.)
Just my opinion. >>

First, I always ask dealers "What can you do on the price?".

I save the "Best price" question for the end of the price negotiating, if needed

barbershopper · January 28, 2009 3:41AM

<< I say make the offer. You never know, you could be waiting quite awhile for some dealers to lower their prices. It's better to make an offer and do some negotiating. >>

No reputable dealer will fault you for making an honest offer at any time.
JT

RYK · January 28, 2009 3:41AM

<< 

<< Make an offer, no harm in that. But as someone who sells things for a living, I can tell you that it is incredibly annoying when someone makes an offer and then in the same breath attempts to justify that offer.

An annoying example: "Well, since the coin market is down and all, and you should feel lucky to have my business, I will offer X for this coin"

A non annoying offer: "I will offer you X for the coin"

In either case X = any dollar amount you like.

Now whether or not you care about annoying someone is up to you. >>

As a dealer, I appreciate getting an offer on any coin, as long as the offer is reasonable. However, to stay on the dealer's good side, please do not do either of the following:
(1) ask the prices of a stack of coins, and then counter-offer on every coin, or
(2) ask for my BEST price, then counter-offer my best price. (If you ask for my best price, I will give it to you. However, if you want to cut my best price, the number I gave you is no longer my best price. Then you have made me look like a liar.)
Just my opinion. >>

I have NEVER done any of these and rarely quote a number. If I do not ask for the price on a mail order item from a regular dealer, I pay what's on the invoice. There has been a rare exception or two in which, if there is no discount whatsoever, I will say something like, "I think this is expensive for an XXX", and they will either reply that they can take some off or they cannot go any further. Then, it's up to me to pass or play.

If I ask what the best price is I assume that this is the net, final, rock bottom price, and I make my decision. If the dealer had intended to go another round, it's either his loss (if I pass) or my loss (if I play).

Last year or so, I really enjoyed when I asked a forum dealer for the "best price" on a $4500 coin that he had in inventory for at least six months. He replied $4500 plus postage. I replied pass. A couple months or so later, I saw the same exact coin in another dealer's inventory for $4500 (or maybe a little less). I bought a better example for $4250. It all seems to work out for the best in the end.

PutTogether · January 28, 2009 4:34AM

<< 

I have NEVER done any of these and rarely quote a number. If I do not ask for the price on a mail order item from a regular dealer, I pay what's on the invoice. There has been a rare exception or two in which, if there is no discount whatsoever, I will say something like, "I think this is expensive for an XXX", and they will either reply that they can take some off or they cannot go any further. Then, it's up to me to pass or play.

If I ask what the best price is I assume that this is the net, final, rock bottom price, and I make my decision. If the dealer had intended to go another round, it's either his loss (if I pass) or my loss (if I play).

Last year or so, I really enjoyed when I asked a forum dealer for the "best price" on a $4500 coin that he had in inventory for at least six months. He replied $4500 plus postage. I replied pass. A couple months or so later, I saw the same exact coin in another dealer's inventory for $4500 (or maybe a little less). I bought a better example for $4250. It all seems to work out for the best in the end.

>>

Then you sir, are what I would consider a class act and a wonderful customer. I wish I sold coins.

roadrunner · January 28, 2009 5:36AM

There is rumored to be such an animal out there, and I was thinking of contacting him and making some sharp buys.

As long as you get to take the coin with you after handing over the check.

roadrunner

Assuming the coin market is in a decline...

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