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Does it ever make sense to agree to a lower price when selling, but agreeing to a "bonus check&
Longacre
Posts: 16,717 ✭✭✭
I was taking a read through some issues of CW, and there is an ad by a big dealer. In several ads, there are testimonial after testimonial, where a seller sold coins to a dealer, and then several months later, a "bonus check" magically appears in the mail from the dealer, like manna from heaven, because the dealer sold the coins for a lot more money.
Does anyone know if this "manna" arrangement is made up front, where the seller agrees to a (possibly) lower price, with the understanding if a dealer sells it for more, that the seller will receive a little more cash at a later date? Or is this an arrangement where things are left unspoken, and the bonus check is just icing on the numismatic cake and really not expected?
Does anyone know if this "manna" arrangement is made up front, where the seller agrees to a (possibly) lower price, with the understanding if a dealer sells it for more, that the seller will receive a little more cash at a later date? Or is this an arrangement where things are left unspoken, and the bonus check is just icing on the numismatic cake and really not expected?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
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Either that or the dealer felt guilty because in the end the seller (original owner) was accidentaly taken advantage of. (Did I just end that with a preposition?)
I bought a collection of raw coins earlier this year where several were borderline as to whether they would slab or not (due to old cleanings).
The price that I negotiated with the seller was assuming that this small group would come back in Genuine slabs. In fact, some of the coins graded unimpaired, so I sent the seller a second check.
Although I made the commitment up front to send additional funds if the coins graded, I don't think the seller really expected to receive anything, and was probably pleasantly surprised when the check later arrived.
Hahahahaha
I take everything I read in CW with a grain of salt. I expect nothing more than an honest dealer(s) that will pay fair market value for a coin, and sell it for whatever they can. If they make money on the coin, great. Otherwise I don't think there would be a lot of coin dealers out there. If it's said up front that if they bring more the seller would get a second check, I would expect them to live up to that as per the deal. If it was just casually mentioned as a side note, then I wouldn't expect much in any case. Dealers are not saint's. They are trying to make a living, not help collectors.
Either way, I guess it boils down to the individual deal between both parties.
Testimonials are never, ever to be trusted.
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Ah, yes... but is it Hebrew National baloney... after all, they answer to a Higher Authority...
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I had the same exact thought.
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
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
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