Low Ball Offers...Don't Ya' Hate Em'?

You listed the coin for a certain price.
He made a lower offer.
You made a "lowest I'm willing to accept" counter offer.
Sounds like negotiations to me.
And since his "most" didn't come up to your "least", negotiations ceased.
No big thing.

Opinions differ.
Never hurts to ask.

 

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Well.....he is correct.
There is no differance IF you KNOW what you are doing. Personaly there are coins that I would feel better in buying slabbed, and there are others that I can buy just as good raw.

As it stands right now I think you lost a buy for both this coin, and any coin you ever post. What would have been the correct reply would to have been to thank him for the offer, send him some links showing a higher price, and then counter-offer.

Also, have you checked Gray Sheet BID for this coin - would be interesting to see what it is listed for.
To tell you the truth - I don't think my dealer would offer that much more than $225 for the coin. I went to an auction the other day and a MS 1911 went for (IIRC) $275-$300.

Speedy

 

T$, I agree with mark in that the offer of $225.00 really was not a Bad offer. As you grow in this hobby, you will learn to be less personally affected with low ball offers, it's done a 1,000 + times per day, and that is a low ball figure. Quite honestly, I sometimes use it, but not to the point of being disrespectful to the seller. Sometimes you win, and sometimes, you watch the bidding, and test the re-sale market. It's a learning experience for both seller & buyer.

 

My reply would have been something to the effect of:

"Thanks for your offer, but based on what these have been selling for, my best price is $260."

There was nothing to be gained by insulting him and/or trying to sell him on the premium for slabbed coins. Whatever chance you had of doing a deal probably went out the door with your reply.

Also, since you were willing to sell it for about 15% over what he offered (a $35 dollar difference), while on the low side, I don't think his offer merited your outrage.

 

T$ there are insulting offers and there are low ball offers. One you ignore, and the other you simply say as Mark stated " Thank you" the best I am willing to do at this time is ..$--_$_____

 

I agree with speedy and Mark F. on this one. You never know how deep this guy's pockets are and while this deal might not have worked out a future deal may have. He had an opinion and price in mind but I would have said sorry but this is the best I can do.

 

This is an interesting thread because we have all been in the situation as sellers or buyers, where the other party takes a superior, I-know-a-lot-more-so-my-position-is not-only-reasonable-but-the-only -reasonable-one attitude. It seems like T$, you got a bit of that attitude from the offeror's explanation but you may have overreacted a bit. I think Mark's dead-on -- explaining your thought process will only lead to further annoyance if the other guy responds. Make a counter-offer and move on.

 

One other thing to keep in mind....... Even if, for example, they have been bringing $265 in Heritage sales, that means the hammer prices have been approximately $235. And you, as consignor, would probably have a hard time negotiating an agreement under which you got more than the hammer price.

You would also have to consign roughly 30 days or more prior to the sale, and wouldn't get paid until 45 days after the sale. The $225 offer doesn't sound so bad now, does it?

 

It sounds terrible to me, still.
I paid a good price for the coin, and at the time I bought it, the price was on the low end of what they go for.
I can see what y'all are saying, and maybe I did over-react, and I did get other messages from the buyer explaining himself, and it was good enough for me
He went up a little bit more, but I will still decline.

 

No maybe about it.

 

T$ what's your reason for attempting to sell the coin? I think most in here agree the offer wasn't to to bad and if he came up a bit sounds like it should've been a done deal. Do you really want to sell the coin seems like maybe you might be a little too attached to it.

 

I'm very attached to the coin, but I need the cash in order to buy something else
I can't say I'm all happy about selling this one, but hey, it is time for an upgrade.

They just grow up...So fast...

 

I cant resist here - no offense intended

To quote Forrest Gump - "stupid is as stupid does"


Seriously tho - I can see where you could be upset with a low ball offer... However, when I get them, and I have recieved many, I simply say no, counter or accept. I tried a few times to justify my no or counter and found it to be a waste of time.

 

I set my Ebay store items with an auto-decline at a price I will not consider an offer, anything above I would consider.

I have had crazy low offers on my webite, but always decline in a polite friendly manner. It is bad biz to insult potential customers. Keep your frustrations private, and many of them come back later and do make mutually benificial purchases.

 

Did you ever think that maybe you over-paid for the coin? - it still sounds terrible to you, but that is only because it looks like you didn't do the homework before looking to sell. The old saying is buy the book before you BUY or SELL the coin.
Like Mark said - lets look at the Heritage prices - so you get $235 from Heritage and have to wait around 3 months for your money. You sell to this guy for $225 (or his higher offer) and you get the money within the next day/week.

Speedy

 

No I didn't overpay for the coin, and if I was still collecting in the AU range for these, in the current market I would pay the same price as I did a few months ago, it was a good price then, and should be a good price now, compared to heritage and ebay.

 

ok....I'll just come right out and ask since my hints don't work
What did you pay...and IIRC it is graded PCGS AU55?

Speedy

 

I paid $253.50 for the coin, and about $7 of that is shipping (I got ripped on the shipping, the guy didn't do a signature confirmation and shipped snail mail, which is not what he said he would do)
So anyway, that is the price paid, a fair price back then, and it would still be a good price today. I am currently working on another deal to sell the coin, so hopefully it will all work out..

 

Just wanted to add, Greysheet bid is $245, and ask is $260, PCGS retail is $335 and Numismedia is $294, and Numismedia wholesale is $245.

I still think that $225 is still low considering all those, and what they sell for in the market place, and the fact that he said that slabs don't make the difference, which in this coin a slab really does make the difference.

I went to $255 on the coin to a fellow CT member, and hopefully it sells.