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Dealer Gotcha Question

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 Posted 06/02/2021  7:31 pm Show Profile   Bookmark this topic Add jimbucks to your friends list Get a Link to this Message
I posted this here because I am referring to an experience with one of my 19th century coins. Asked a dealer what he would offer on a TPG graded coin...it is a scarce R7 variety with no recent sales history or any offered for sale. He responds with "what will you take?". I come back with "make me an offer". Dealer sticks with his "what will you take". This is a well known long time dealer who probably knows darn well what the R7 variety is worth but won't make an offer. Very annoying but not unexpected.
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 Posted 06/02/2021  7:34 pm  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
dealer doesn't want to lock in a price, he is looking to hedge here.. throw him a number a bit above what you are comfortable with, then see where he goes..
Edited by silverwolf
06/02/2021 7:36 pm
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 Posted 06/02/2021  7:44 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Dealer had his chance. Game over.
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 Posted 06/02/2021  8:13 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Okay, I'll bite, why not set a price?
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 Posted 06/02/2021  8:25 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
It's not what it's worth, it's what can he sell it for backed off to reflect costs of capital, risks, etc.

If it's truly an R7 coin that hasn't been offered in the marketplace for several years, one of two things happen:

* He knows who to sell it to, makes one call, and flips it. He's looking for your price so he can maximize his profit IF there is one to be made.

* He knows that while it's rare, there's no market for it (or he will have to work hard to sell it).

He's looking at tieing up his money for weeks or months, the time he could be using that cash to make other deals with profits.

He needs it to be a price low enough to make that worthwhile. If he quotes that realistic price, you get insulted and post here about dealers trying to rip you off.

He's better off having you give a price and saying how he wishes he could, but there's no room in there for him to make a profitable deal.

-----Burton
47 year / Life ANA member (joined 12/1/1973)
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Owned by four cats and a wife of 37 years (joined 1983)
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 Posted 06/02/2021  8:30 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Same question - assuming you know the market, why not set a price?
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 Posted 06/02/2021  8:39 pm  Show Profile   Bookmark this reply Add jonjrl1963 to your friends list Get a Link to this Reply
You are coming to him (dealer) I would think you must have a ballpark idea of what you want for it?
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 Posted 06/02/2021  8:40 pm  Show Profile   Bookmark this reply Add johnjkedel to your friends list Get a Link to this Reply
Agree with jimbucks .. but that's just the way I am.
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 Posted 06/02/2021  9:25 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply

Quote:
assuming you know the market,
Mr frog I have no idea what this R7 variety is worth.
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 Posted 06/02/2021  11:19 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
I think BStrauss3 hit it on the head.

The difference is between a dealer's and a collector's reality of coin values/marketability.

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 Posted 06/02/2021  11:42 pm  Show Profile   Bookmark this reply Add CentSation to your friends list Get a Link to this Reply
What, exactly, were you expecting the dealer to do/say?
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 Posted 06/02/2021  11:49 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
In any reasonable price negotiation for cars coins real estate, whatever,
both sides of the negotiation should have at least some idea of what the other side is looking for.

In this case, dealer looses out.
Like you said: "Game over".
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 Posted 06/02/2021  11:54 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Your coin , your price .
Smart dealers stay away
from the " make me an offer
trap" it usually doesn't end well .
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 Posted 06/03/2021  01:05 am  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
The price you pay originally and multiply that 100x, and start from there...

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 Posted 06/03/2021  08:14 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
As executor I had to sell the estate's coins. I had no dog in the fight. They were modern proofs I had no interest in. It was a 25 year haphazard accumulation of US Mint offerings.

There was no haggling, no eBay, no yard sale. It took about fifteen minutes. I was pressed for time and I took the $15,000 that the established coin dealer offered.

The gold was worth the most and a little above bullion. One of the silver proof dollars was scarce and worth 100x melt. The non-silver proof sets were worth next to nothing.

The departed would probably have been annoyed with me but he no longer had any say in the matter. The rest of the family was pleased.

And that dealer has had my steady business for the last seven years.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
06/03/2021 08:27 am
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 Posted 06/03/2021  08:23 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Selling coins is sort of like selling anything. If no buyers, not worth to much.
just carl
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