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 Replies: 23 / Views: 3,819 |
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Bedrock of the Community
 13014 Posts |
Carl I definitely realize that which is why I though 60 for an 80 dollar coin would be fair. Maybe even 50. But between the buy and sell prices needing a 70 percent margin to stay afloat means you arent doing something right. I do find the pricing to be extreme, but the dishonesty is what really bothered me That said the need for a profit margin is never an excuse to lie or try and say you know what youre talking about when you clearly dont in order to get the best possible deal. I'm not opposed to stores at all, I've met two great dealer through repeated purchases on ebay who have stores in WY and Fla and even though they give me great deal Ill always give them over what they paid for it. Sometimes they get coins cheap and will give me great deals sometimes they cant and Ill pay a bit more. But they are always honest about what it cost them and as a result get repeated business from me which is the key to a successful store anyway. The local store may make a good amount of money on some sales, but when people realize the pricing and or feel taken advantage of you dont go back which in the end costs your store much more money than you made on that 1 sale |
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Pillar of the Community
United States
1302 Posts |
@basebal21 - you obviously don't need my opinion on the matter as you seem to have thought about the experience.
I would say, from a devil's advocate position, the following would be a fair assessment for a dealer who a) doesn't "need" your material and b) doesn't have an interest in moderns:
2003 Flight Half $28 (strong offer)
2012 Eagle melt or up to $35
2005 quarter $20-24 (strong offer)
1925 lex $300 is a strong offer, it has been selling for $275-320 range in PCGS 65. even if CAC'ed and really nice these prices are a drag.
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Valued Member
United States
63 Posts |
I grew up over there in McLean when I was younger, early 80's. I now live over in WV about 50 SW of Winchester. If you are ever in Winchester/FR area there is a good shop called Shenadoah Numismatics, Jim is very fair with buying and selling. Let me know if you need any help finding. There is also a good shop in Harrisonburg called Coins and gifts, Tim and Gloria I believe, are extremely fair on their pricing both buying and selling.
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Bedrock of the Community
13014 Posts |
CC The lexington offer itself didnt really bother me, well thats not entirely true. It wouldnt have bothered me under usual circumstances, but the fact he was selling his that wasnt CACd for 850 it did bother me he was asking for about a 65% selling margin on it. If you need a 60%+ margin youre doing something wrong. Had he just said I'm only interested in this one and heres my offer I would have been fine with that. All I ask is be honest with me. Even something along the lines of I dont really want those but if you wanted I could give you 50 for all three (which was the offer) I would have been fine with that too. I know not every one deals in the same things. My problem lies with the attempt to sell me a bill of goods about the Flight being a 10 dollar coin according to the market and the attempt to just make me think they werent worth anything when I am very aware of the market for them both on ebay and what dealers are asking for the same coins. I have no problem with someone not wanting what I'm selling, I dont want to buy everything they have either. What I cant take is dishonesty and I honestly feel like he thought I had no clue what I had. It was those stories that lost him my business. For what its worth as far as markets for the other 3 from what I have found (if youve found cheaper please do let me know I'm in the market for similar things and would love to find some better deals): The First Flight is mostly listed in the 100+ range. Some get a little lower with dealers having by far the highest prices for them. I know of one place that has a great deal on them right now which is why I ended up with 2 in the first place. The Cali Quarter is going for 90+ with a lot of the listings in the 130-150 range. The ASE bullion for the 70s are selling between 70-110 but you can find them in the 70-80 range and he said himself hed sell it for 80. |
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Bedrock of the Community
13014 Posts |
Quote:
If you are ever in Winchester/FR area there is a good shop called Shenadoah Numismatics, Jim is very fair with buying and selling. Let me know if you need any help finding. There is also a good shop in Harrisonburg called Coins and gifts, Tim and Gloria I believe, are extremely fair on their pricing both buying and selling. Ken thanks for the tip. I usually dont get out that way but will be going to see some specialists in Philly next month and at UVA in October if you know of anything along the way, would love to be able to stop somewhere Id enjoy along the way. |
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Pillar of the Community
United States
1302 Posts |
The prices I gave you are based on clusters of lowest realized public auctions within the past month or two with those figures cut in half. wholesale (which is what dealers expect to pay) is 50% retail or worse if you don't need the coins. Even if you brought in a killer piece, the dealer might not want to buy it but instead consign it. Case in point, a dealer friend has a top pop coin that sells for $4000. A high end collector wanted to move off his top pop coin in hopes of finding another one at the same grade he likes more. The dealer doesn't want to have two $4000 coins from the same date and grade- he'd only be competing against himself... so the best he could do was consign it and take a cut (about 30%). ebay is probably the smarter way to go- if you really wanted to let those pieces go- but a dealer paying more than what I quoted you- must have alot of confidence that he'll turn those pieces over at a profit. That being said, I understand your frustration. |
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Bedrock of the Community
13014 Posts |
I planned to sell them on ebay all along was just curious as to what they would offer. I definitely get the economics of it. But that doesn't excuse the story telling/lying or at best the having no clue what he was talking about and trying to pretend like he did. Had he been honest I wouldnt have sold anything, but I would have made my purchase. By lying to me hes lost my business forever. Im sure there are a a lot of good dealers out there, but theres a lot of dishonest ones as well who try and take advantage of the fact you more than likely have no reference material with you at the time. My frustration isn't that I wasnt able to make a quick easy sale for what I wanted, but rather the fact I was told lies which more than likely were told because he thought I wouldnt know any better Edited by basebal21
08/29/2012 01:54 am
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Pillar of the Community
 United States
2448 Posts |
Welcome to the world of capitalism; Actually the market economy! We forget that the overall goal of the private business man is to make a profit. You should always expect the low ball offer at first. It's your job to stand in there and negotiate for your best price. Don't let them intimidate you! Stand there and hold your ground!
As so many have said, we need to harden our abilities.
Edited by carmykle
08/29/2012 9:30 pm
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Bedrock of the Community
13014 Posts |
I have no problem negotiating and will do it all day long usually, I've gotten some of my best deals that way. But I will not do it with people who are dishonest or lying its just a waste of time.
But I definitely agree its important to be able to work a deal and not be intimidated. Maybe I was born in the wrong era, but I just feel its possible to negotiate and drive hard deals without having to be dishonest.
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Pillar of the Community
United States
2651 Posts |
Is this a Coin Shop/Pawn Shop? lol
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Bedrock of the Community
United States
20753 Posts |
Quote:
Welcome to the world of capitalism; Actually the market economy! We forget that the overall goal of the private business man is to make a profit. You should always expect the low ball offer at first. It's your job to stand in there and negotiate for your best price. Don't let them intimidate you! Stand there and hold your ground! Just what I was trying to point out. It is the owner of any buisness to make as much profit as possible. All stores do that. All auto dealerships do that. If you owned your own buisness, you too would attempt to make as much profit as possible. You could and are mad at a person that is just a buisness person trying to support his family. And it is your job to save as much as possible buying anything. when a large store does this so few complain. If Walmart sells a pair of shoes for $40 and pays $5 from China, no one complains. And that is about what they pay too. |
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Bedrock of the Community
13014 Posts |
Quote:
If you owned your own buisness, you too would attempt to make as much profit as possible. You could and are mad at a person that is just a buisness person trying to support his family. Not really. I'm mad at the lies that accompanied the offer because he thought it would work. Had he just been honest and said this is what I can offer and cant do any better and not tried to convince me the coins are worth a lot less than they really are I would have no hard feelings. I understand he wants to make money. I understand he can only pay so much. That however does not excuse lying and running a dishonest business. If I were him maybe my offer prices would have been the same close to that, but I would not have lied to my customer. I believe in honesty and dont like taking advantage of people, but even from a purely business standpoint and not including moral values an owner shouldnt do that because eventually the customers will figure it out and youll have more than likely lost their business for ever |
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Pillar of the Community
United States
1193 Posts |
Basebal... I'm shocked... no right handed  ? Justcarl, sure everyone wants to make a profit, regardless of the cost to operate your business, it costs even more in overhead, if you're employing lies and out to get you tactics. just sayin... Edited by joeturbo26
08/30/2012 5:16 pm
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Bedrock of the Community
13014 Posts |
Lol Joe long time no talk. I'm a righty by the way  Edited by basebal21
08/30/2012 3:13 pm
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Pillar of the Community
United States
1193 Posts |
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Replies: 23 / Views: 3,819 |
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First Page
Posted 08/28/2012 11:08 pm
