never sell your bullion to a dealer for under spot!

LOL, I know it can get heated in here at times (I only venture in here occasionally) but this thread seems to have more than its fair share of insults ind innuendo.

 

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It appears to me that some of these posters think they can actually "win" an internet spat. The truth is all parties rarely look good...and more rarely intelligent...

 

Thankyou, finally someone else actually acknowledged that some dealers go to the extreme over something so silly. They all want to buy your stuff, but make it seem like its top secret when they actually give you a answer on a price they are paying...

 

SCFY, did you make a counter offer and if so, what was their response? Some people are into sales just for the enjoyment of haggling and may have settled for spot after a lively conversation.

 

If you notice I always counter, just look at my posts LOL, so usually I would haggle a bit and I do have a couple dealers that I trust and will negotiate with, but a lot of the newer dealers usually tend to be very hard to talk with. They usually will say a number and at that point they get very defensive if I even hint of bringing the price down. I usually use the term is that price flexable. I had a guy once reply set in stone.
So that's my take on it.

 

Probably because their price ain't the same for everybody. Regular customers get better prices than walk-ins. Bullion originally purchased from the dealer gets better prices. A new customer that exhibits potential for significant future business gets better pricing. Large volume transactions get better pricing. And so on.

 

Because every time you get an answer, you take the thread in a different direction.

So, to address this aspect of your post, my answer is...it depends on how you approach him. The dealer is looking to buy, not hand out free advice. So if you walked in, threw a stack of ASEs on the counter, and asked, "What will you give me for this?" he will more than likely believe you're serious about selling, and make you an offer. If you walk in empty-handed, lean over the counter, and say "Psst, hey buddy, what'll gimme for silver?" he's going to be suspicious and thus more secretive. He is simply protecting his interests and, quite possibly, his inventory. It's not quite the same as negotiating on a car. Most car salesmen feel safe in that the potential buyer isn't going to hit them on the head and take the car and contents of the safe. Keep in mind he's competing with other PM dealers, including eBay and Craig's List. He's dealing in a commodity that is easily transportable. And if he's doing any amount of large volume of business, then losing an ounce or two here and there isn't really bothering him, especially if he doesn't think you're serious.

 

The other side of what you said is that maybe you don't want to waste your time and bring in your silver if he is only gonna offer you a much lower amount then your willing to take, so you instead save the time in bringing in very valuable items and protect yourself as well by just asking a simple question and if you like what you hear you do business with that person. Some of the dealers are very funny in answering a simple question. If they are paying a lot lower then others so be it, no reason to be sneaky about it, its not like someone could not just tell people hey he does not offer much.

 

I'll concede that point, but then the dealer has no way to determine if you seriously want to sell or are simply fishing, especially if he doesn't know you well as an established customer. Keep in mind the one who approaches first is in the driver's seat. So when you walk in and ask "buying?" he starts to calculate how low you'll go. If he walks up and says "selling?" you're thinking "how high can I get him?"

He has every reason to be sneaky if he doesn't think you're serious. He has a lot to lose by trusting the wrong people.

 

The problem with your last statement is how could he possibly know how someone handles information. I may be the type who likes to scout out a dealer to see if I trust him. So when they treat a question as simple as how much are you paying as a top secret deal and acts annoyed by the question, why should I deal with a person like that? I should not have to have the silver in my hand to find out if I want to do business with someone.

 

What is there to trust? This isn't brain surgery here; either his price is good or it's not. You may be the type to scout, but it seems you're also the type who does not mind wasting people's time playing kid games.

And why should they cater to you... someone who may or may not be kicking tires? Show that you are serious and you will almost certainly get the same in return.

 

First of all you don't know me, so don't presume like I am any type. He should cater to me because he is in business to make money and sometimes as part of that business you may need to answer a question a potential customer may have.

The question is not inappropriate, and wasting his time you say. That's all he has is time when trying to buy and sell product so that made little sense. BTW your tone towards me leads me to think you may be someone who makes this his profession, just a tip for you, learn how to communicate before you make a judgement about someone you never met, don't act like you know me in anyway... There is a word for a person like you, but I can not use it in this forum, it rhymes with Rick, figure it out..

 

Remember, you approached him. You don't know him, and he doesn't know you. You aren't asking to buy anything (which, by the way, is how he makes his money). You offered to show him nothing. You're talking about dealing in a commodity that is easily stolen, transported, and disposable, with no real way to trace it. Sorry, I can't blame him for being a little suspicious.

 

Thank you for being respectful in your response, its appreciated. I understand your thinking, just don't fully agree.

 

Actually what he said is true. He's not being personal, but simply using you as the example because you are posting the gripes. The fact that this particular dealer "buys and sells product" doesn't obligate him to be open and honest with every Tom, Dick, and Harry who walks into his shop asking about how much he'd pay for silver. Keep in mind you're probably not the only one walking into his shop. You're probably not even the first first-timer into his shop. There is nothing to say he has to care about your transaction. Especially if he makes five or six figure deals during the course of his work week.

Let me tell you a little about my buying habits. When I first started buying ASEs, I would go to one of those "We Buy Gold and Silver" shops. Not a traveling show, but a chain with several storefronts. When I first walked in and asked to see some Eagles, the woman behind the counter would set them out, one at a time. I bought a couple, then stopped in weekly, picking up a couple more each time. After a couple weeks, she not only set out all I wanted to look at at the same time, but offered me a discount on all my purchases. I started to get some good deals, and bought more than just the ASEs. I probably never spent more than $120-$130 during any one visit, averaging about $70 a week. But after the first couple weeks, she knew when I walked in I wasn't leaving empty-handed, and she was making some money. Even though I wasn't a big spender, I was consistent and she capitalized on that. It was a great relationship that lasted until she left the company for greener pastures.

I also deal with a vendor at the local flea market. Guy is a postcard, coin and stamp collector, and a retired mail carrier for the USPS. Sells for extra money to fund his collecting habits. I deal with him on an almost weekly basis. At first he was leery, but as I continued to stop buy and purchase what I needed, he became more liberal and trusting of me. It took weeks to develop this relationship, and it's been 4-5 years since I started this relationship. He knows what I collect, and actively seeks those out for me. I don't have a problem doing a couple-hundred dollar transaction with him. I trust that he'll deliver exactly what I want. It works both ways. Two years ago he gave me a coin box of Kennedy Half dollars in 2x2s, said take it home, look through it, pick what you want, and bring it back next week. Again, he discounts what I buy. Keep in mind I had never met this man prior to my initial dealings at the flea market, and he lives about 60 miles from me. He does not know where I live, other than the town. I don't even think he knows my last name. But every time I stop at his table, I buy something. When I miss a weekend he always asks what happened, says he worried I was sick. It took time and money to build that kind of trust.

What you question is a trust issue. I don't know you, and I would be hard-pressed to trust you. Doesn't mean I don't like you, but even with this back and forth posting I'm not ready to invite to my house for dinner, let alone discuss what I'd pay for what may be (because I haven't seen even a hint) non-existent silver. Do a search on this forum and you'll find numerous threads on building a trusting relationship with a dealer. That's what you're missing here.

 

I appreciate that. I'm not trying to make you see the light. Just trying to give you an honest answer to your questions based on my limited experience.

 

I have no issue with what you just said, the issue I have with the other guy is that he got personal. He made a comment like he knew me and he basically called me out. It would have never gone in that direction if he would learn how to keep it on topic only and not try to make me seem like I was a idiot for not liking how some dealers carry themselves. After all it is my opinion and that is it.

 

You told us your "type" and the rest is obvious. As for catering to you, please allow me to give you some friendly advice... get off of your high horse with this catering nonsense. In the situation you've provided, you are really nothing more than some nameless kid claiming to have a little metal; nothing more and nothing less. No one in their right mind is should give you the time of day unless you are willing to do your part and show you're serious. You want dealers to take you seriously, so is it really so hard to understand that they deserve the same, especially since you are the one who approached them?

Tell me where I said the question was inappropriate. There is nothing wrong with the question, just as there is nothing wrong with the dealer's response, but you seemingly fail to grasp this. If you think every dealer has all the time (not to mention desire) in the world to kiss up to every tire kicker who walks in the door, this shows you lack any understanding of this as a business.


As for my "tone", it comes from having a low tolerance for nonsense. As for your suggestions, if you want someone to coddle you, I am not he. If you are unwilling to at least accept the opinions of others who just might know more than you, what is the point in engaging in a gentlemanly discussion?

As for your “rhymes like Rick” comment, you can call me whatever you like as long as I can call you Detecto… would you like to guess which one is worse?

 

This is just silly, its like who has the bigger balls, because you don't like what I have to say, you call it nonsense, how about you grow up and learn how to talk to someone rather then talk down to them, and who says you know anything about this business, sound like you would fail pretty bad with that type of customer service, let me guess, your out of business now right? Anyway you seem like you have anger issues, may want to get those issues resolved before you speak about anyone else.

 

I have no anger issues or issues with you whatsoever. In post #97 you claim that I took this to a personal level, but other than one lighthearted jibe, I have kept my responses on topic. Your needing talk smack about something you know nothing about just shows your childish mindset, and is a pitiful attempt at deflection.