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 Replies: 28 / Views: 3,952 |
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Pillar of the Community
United States
4085 Posts |
Did you try to negotiate the price with the dealer? On a collection worth $2,000, the best you would probably be able to expect would be in the range of $1,000. The dealer will want to resell and make a profit after all. Maybe a counter offer of $1,200 and when he says "that's too high" you then counter with "could you do $1,000 on this"? ebay will be your best bet to maximize your take from the sale. |
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Pillar of the Community
Canada
3733 Posts |
most dealers won't pay 50% of retail, unless it is something they can flip right away, many dealers are sitting on so much inventory, it doesn't make sense for them to buy every collection that comes through their door, unless the price is right for them..sitting on inventory until you find a buyer for every coin, is very unprofitable. Like others said, you are better of selling on ebay where you have tons of buyers.. |
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Valued Member
United States
453 Posts |
I think I'd check and see if any other dealers were with in a reasonable drive if I were you. It's be much easier to unload everything at once and maybe you'll get lucky. When all else fails you would probably get more money selling piece at a time if you don't mind the extra work and aren't in a rush.
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Pillar of the Community
United States
3182 Posts |
I've said this before and I'll say it again, it is not a dealer trying to rip you off. We live in a capitalistic society. He has the right to offer you what he thinks is fair and you have the right to decline. He is a dealer and has the right to make a profit. As others have pointed out, sell them yourself via ebay or other auction venues if you expect to maximize the coins value. That I believe is your best bet, or sell them here to other collectors via the sales forum. Edited by srs77
11/18/2018 11:38 am
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Valued Member
240 Posts |
Here's the real question...
What's the lowest amount you will take?
Please be honest ... this will help us all to understand the process. Several people have made very valid points (i.e. the cost to run an actual store).
Edited by jmwilson
11/18/2018 11:42 am
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Pillar of the Community
Canada
5246 Posts |
To expand on @jmwilson, believe it or not the dealer is offering you a service, which is giving you immediate cash, and spending the time, money and risk of selling the coins to someone else. Some may be sitting around quite a long time before they sell at the "retail price". You could do it yourself, or essentially pay the dealer to do it for you, which is the dealer's profit.
How much is this service worth to you?
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New Member
 United States
6 Posts |
JMWilson, to answer your question: I am looking to get 1300-1400 out of selling the collection. I was expecting to top out at 60-75% of retail. Like I said earlier, based on current ebay trends I can get around 700 for just my proof sets. Oriole: That service is worth comparatively little to me. I have a lot of experience with online sales and am in no hurry to sell my collection. I am going to be sending in some of my more interesting variant mint-state Morgans and Peace dollars to be graded and holdered prior to selling since ebay seems to be a minefield for raw silver dollars. |
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Bedrock of the Community
Canada
24885 Posts |
 To the Forum. |
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Pillar of the Community
United States
3343 Posts |
Selling a collection piecemeal on ebay doesn't sound like a rewarding way to spend your time. Take the money offered and chalk it up to experience. The fact that a dealer is selling his VAM for $80 and offers you $15 for yours tells me that he doesn't need another one. Regarding the modern proof sets, they're just $0.91 worth of shiny coins in a buyer's market. Been there, done that. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Bedrock of the Community
United States
20753 Posts |
As usual not many people understand how a dealer of coins or almost anything works. If it is a coin or hobby type store, there is a lot of overhead costs involved. Things like rent, gas, electric, water, phones, possibly a fax, equipment, store upkeep, etc. And all this is paid for from sales. A dealer in coins MUST make a massive profit to stay in business. They are not there to make friends, only money to pay for all the overhead and have some for the family's food, clothing, etc. For some reason people feel a coin dealer should help them make the profit, not the dealer.
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Pillar of the Community
United States
7621 Posts |
 However, when a coin dealer buys a BU roll of Barber dimes for "melt" or tells a little old lady that her late husband's gold coin collection "is illegal to own" that crosses the line from just making a profit to out-and-out greed. I remember dealers bragging about this exact stuff happening in the 1970's and 80's. |
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Valued Member
240 Posts |
I suspect you can do fine selling this collection on ebay. You probably want to separate the coins into lots. Otherwise, you'll spend a lot of time with the details. Another option is Craigslist. I frequently buy coins from people on Craigslist. I think I explained how I price them in an earlier post. Edited by jmwilson
11/19/2018 7:44 pm
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Moderator
 Canada
10458 Posts |
Quote:
As usual not many people understand how a dealer of coins or almost anything works. If it is a coin or hobby type store, there is a lot of overhead costs involved. Things like rent, gas, electric, water, phones, possibly a fax, equipment, store upkeep, etc. And all this is paid for from sales. A dealer in coins MUST make a massive profit to stay in business. They are not there to make friends, only money to pay for all the overhead and have some for the family's food, clothing, etc. For some reason people feel a coin dealer should help them make the profit, not the dealer. This. Also, that same dealer would not likely sell his inventory at 100% of retail price to his clients... there are a million posts on this site on how various collectors bought items because their local coin shop gave them a "good price"... Therefore, I edited the title of this thread- - because frankly, it was very misleading... "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Replies: 28 / Views: 3,952 |
First Page
Posted 11/18/2018 10:58 am
