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

Sigh - no argument intended. I just wish I had that kind of market available to me. I only have 2 local dealers and 1 I do like, so that leaves just 1. Other than that I use online dealers - which my local dealer can usually beat price wise. My local dealer usually does not keep many graded coins. Seriously if you can get PCGS graded coins that much cheaper than the auctions - I say do it and flip them.

 

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So let me get this straight -

You have a 1911 PCGS AU58 that you paid $246 (give or take alittle) for a few months ago.
In a above post you said that Heritage has been selling them for around $235 and I would agree. If you have the last 5 1911 AU58's that have sold the price has come out at $234 (one dollar different). The low of those 5 was $218 and the high $264.50.
The others went for $230 each - and these prices INCLUDE bidders premium.
Now...that $225 looks alot better doesn't it.

Also sounds like you got a not so good deal when you bougth it.
That is my whole point - I get so tired of people that get mad when someone makes them a fair offer that is well within the market. Too many people either want to get rich quick, or they thing as long as the date is older than 1964 it must be $$$.

Now I'm trying to be as nice as I can - but your asking price of $285 is laughable as best. Way over market price, and it would be ripping someone, just like you got ripped when you bought this coin.

Speedy

 

For someone who seems to dislike an argument, this post seems sure to start one.

 

Which is why I lowered the price of $285, twice. Hey if I can get $285 for it, SWEET, if not, okay.
I lowered the price down, and got an offer, I countered and explained my counter.

 

Graysheet and Numismedia are normally the closest, and I see that rings true again. Still around $10 higher than what the coin has been going for at online auctions.
Alot of deals buy BACK of BID and see at BID...so lets say they by at 10% back of bid that is $220.50.

It doesn't make any differance - the slab is just a holder to those who do the homework, and have a knowledge of coins. It isn't worth 1 cent more. The only people who pay more for the slab are those who either are lazy, or who are working on a set and need THAT coin.

$255 is a totaly silly price - I mean come on...that is even higher than Gray Sheet -

Speedy

 

Do not be offended by an offer, either accept it or decline it. If you let emotions interfere with business you will not do well.

 

That is a good way to conduct business. Without emotions

 

we're all ignorant, just on different topics/Will Rogers

My Kingdom for a horse! Time is money!

I'll pay you Tuesday for a hamburger today?

And my favorite~ "The 1st one is free!"

You must have a good deal in the tube, T$, to consider something you do not abide by.dd:

Please post it if you pull it off to your satisfaction.

As for the Slabbed vs Discovered realm, you know I prefer the chase as well as the procurement. :hug:

I also try to think its what it is worth when it is worth it.

( I still miss the banjo I swapped for a tank full of gas years ago~but without the gas to get far on down the road that night.....:vanish

I'm not very good at it yet, but I try to pay attention.

And enjoy the pursuit. You play poker? Every time I folded I lost that hand...and wondered.......what happens next :goofer:

 

"Is that not the stupidest thing you've heard? "

Oh believe me, I have heard way lots more stupider things than that, on one of my trips a dealer had a printout of ngc graded ms-70 silver eagles and was offerring me a bargain at 60 bucks for a raw silver eagle and it was not a 96.

I do not think the dealer was stupid either, I think he thought I was stupid, I had stopped at his place after work and had not cleaned up, maybe he was trying to discourage me from returning?

But anyway I could not resist a little chuckle, and asked him if he had any libertads, I picked up an 82 for 14.50, before I left he told me he might be able to go down to 30 on the silver eagle, I smiled and said no thanks.

I cant blame people for testing the waters, and the way the economy is around here prices people get for collections has had to have fallen.

I know a few people who like to invest in bullion, and they are completely unconcerned with grades, types mintmarks or dates all they want to know is how much it weighs, maybe your erstwhile buyer was a bullion buyer testing the numismatic market, except if he was he probably would have tried to offer you spot price which might be really insulting.

 

That is how my dealer handles the American eagle coins - bullion prices when buying. Now selling if they are raw(not proof) I think they sell at bullion prices. This is one of the few coins they might have that is graded, but I have never priced one.

 

i hate when people quote prices from ebay

 

Bottom line is, the best way to handle it would have been to simply decline. And making an offer that is 10% less than what you're willing to accept isn't THAT lowball, nor is it stupid, IMO. T$ admitted he overreacted, which he did. Now lets talk about something else, lol.

 

Greysheet is meant for dealer to dealer wholesale Speedy, not retail transactions. Friend to friend could be anything near it.

 

I agree, but so often when a newbie shows a beatup, cleaned, or scratched coin, I often hear "melt" as the price it is worth. I think there are better words to use, especially as they might not have the 'gems" we all do. It may be their first or only coin.

On the issue, we will often be told things about our coins we feel are not right, but if we ask for opinions or offers, we must be willing to endure even comments from the less informed. In gems it is even worse, as neophytes know even less about gemstones than they do about coins. I have quit giving an offer, when asked, as 99% of gemstones sold today are worth less than 20% of the purchased price, even if they are real, but tell that to a divorcee who wants to sell her $5000 diamond.

Jim

 

Speedy, As I am certain you know, grey sheet are Dealer to Dealer prices.
Very very few who list on EBAY offer little or anything at grey. Now when considering an offer, and the urgency to sell if any, that is a worthwhile consideration. The offer, as I stated was not low ball at all, but neither was T$'s listing price out of line in the open market. These types of situations, specifically I mean the "art of negotiation" is learned over time. Remember, the seller here is a YN himself. But one that is willing to admit fault and learn, I believe.

 

Without reading every post I'm going to go with Speedy on this one. It was obviously way lower than you wanted but really not horrible.
The guy could be a dealer or reseller. I doubt he's a newbie.

Now his line about what they go for on ebay wasn't the brightest IMHO

If you walked into the shop I work at with that coin $225 might be the highest my boss would go. He'd want to make money on that coin and a modest profit of $30 wouldn't cover much overhead.

All in how you look at it and not worth worrying about.

Now, I DID have a guy seriously lowball me a few months ago and my reply was not real sweet I must admit. He offered me $2 each for some Standing Liberties that I had listed and offered to pay that whopping amount for any that I had.
Now my first reaction is that I work in a shop and know what they go for wholesale plus I have been at this for a few years now.
I told him I was born at night but not last night and to please not insult me with offers. I would entertain serious offers.
I also told him if he wanted those prices to open a brick and mortar.

Guess I was feeling kind of ornery. I could have just said no.

 

BINgo!

 

where do you guys , come up with this stuff!

 

Originally Posted by Speedy
The only people who pay more for the slab are those who either are lazy, or who are working on a set and need THAT coin.

Dealers pay more for TPG" coins everyday, 7 days per week, 365 days per year and some even do it in a leap year!

 

Originally Posted by Speedy
The only people who pay more for the slab are those who either are lazy, or who are working on a set and need THAT coin.

BINgo!

I think that's flat out wrong. For one thing, if it's an NGC or PCGS slab, there is a guarantee of grade and authenticity that comes with it. And for coins worth several hundred dollars and up, paying more for the slab can be well worth it.

Also, having the coin certified does away with many of the arguments about the coin's grade when it comes time to sell. Try to sell an un slabbed coin worth hundreds or thousands of dollars and see how easy it is to get the buyer to agree with the grade and pay full/fair value for it.