Posted 06/09/2009 5:10 pm
I'm not comfortable laying down the law in a standalone post without consulting everybody else, so I'll say this as an opinion rather than as an edict.
The current spot price does not affect what you originally paid, or the fact that you were perfectly happy with the original asking price. On the other hand, even a small change in spot adds up to a fairly large number when you're talking about twenty ounces of silver.
Or is it? Twenty Cents in a trading day is a $4 change in the bullion value of your offering. Or, a little over 1% of your asking price. Is this worth the effort? I would say no.
My opinion? Let it be unless you're looking at losing $40 in value instead of $4. If the original offer was a price keyed to bullion value - as a sale involving something with commodity value ought to be - it'd be one thing; as it is, you made the conscious choice to offer a commodity item at a fixed price, and I feel that a consulted decision on the part of the Admins would probably go against you for that reason. There are no "bad" decisions, only consequences.
Frankly, if I were you, and I felt this way about it - your opinion is your right, and I won't question it - I'd pull the sale, wait it out a bit and re-offer at a price keyed to bullion value. My gut tells me that silver isn't going to see $18 again soon - other sectors of the economy are beginning to recover, and there are people chomping at the bit to throw money into the void which the recession has caused - so I don't believe you're going to realize any huge loss on your fixed-price offer.
If they don't sell in a week, anyways, you're not going to sell them right now.
The current spot price does not affect what you originally paid, or the fact that you were perfectly happy with the original asking price. On the other hand, even a small change in spot adds up to a fairly large number when you're talking about twenty ounces of silver.
Or is it? Twenty Cents in a trading day is a $4 change in the bullion value of your offering. Or, a little over 1% of your asking price. Is this worth the effort? I would say no.
My opinion? Let it be unless you're looking at losing $40 in value instead of $4. If the original offer was a price keyed to bullion value - as a sale involving something with commodity value ought to be - it'd be one thing; as it is, you made the conscious choice to offer a commodity item at a fixed price, and I feel that a consulted decision on the part of the Admins would probably go against you for that reason. There are no "bad" decisions, only consequences.
Frankly, if I were you, and I felt this way about it - your opinion is your right, and I won't question it - I'd pull the sale, wait it out a bit and re-offer at a price keyed to bullion value. My gut tells me that silver isn't going to see $18 again soon - other sectors of the economy are beginning to recover, and there are people chomping at the bit to throw money into the void which the recession has caused - so I don't believe you're going to realize any huge loss on your fixed-price offer.
If they don't sell in a week, anyways, you're not going to sell them right now.
