I’ve encountered the situation in the title a few times. Usually, the coin, which was uniquely identifiable based on cert. no., was offered at the same time by two dealers via online websites. Couple of times, I was emailed by a dealer offering a coin, and email included picture of the slab. Found same coin offered at same price on another dealer’s website. All the dealers are known for negotiating price; so, offering price wasn’t necessarily the final price. But it makes me wonder, what sort of deal is involved between the dealers. Maybe both dealers were selling the coin on consignment for a third party and neither knew that the other dealer was offering it. Possible, but seems unlikely. If I found the coin online quickly, so would a dealer. So, (1) either or both took a coin on consignment from a third party and both knew about it. Or (2) the coin belongs to one dealer, and the other is advertising it on consignment from the first. Or (3), the coin is jointly owned. Other possibilities? With (1), it’s possible the consignor set a minimum price they expect to receive and may have specified or suggested a asking price that the dealers should use. Unless the dealers colluded on what they would actually accept as a final price to a potential buyer, I don’t think same asking price is unethical. With (2), again, I’m not sure colluding on asking price is unethical as long as they don’t collude on minimal acceptable price. (3) is probably uncommon. As long as the ownership of one dealer isn’t just a token share, then the dealers could be considered one entity selling its coin. Jointly deciding on an acceptable final price would not be unethical. I’ve never tried to find out the final asking price of two dealers selling the same coin at the same time. The final prices of the dealer who emailed me were always way higher than current auction prices … so, no deal. It seemed likely the final price of the other dealer would also be unreasonably high. I didn’t contact them. Even though it can be completely ethical, still makes me suspicious when two dealers offer same coin at same price. How ‘bout you? Cal
This isnt a pro sports contract, collusion is fine and would be stupid to have an agreement without setting parameters. Two dealers offer each others stuff and presumably one has possession of it. If the other sells it they get a cut of the profit if not they're out nothing. There's obviously some sort of agreement to sell each others stuff if its the same price unless its something with stock photos for both.
My 1st thought would be "stock" pictures. I've bought a few slabbed coins this way (most recently the washington crossing the delaware quarter) photo shown was xxxxxxxx-009 the coin i got xxxxxxxx-023... as it was a PF70UC coin this didn't really matter but at any lower grade might be an issue to me...
When you want to buy a house / real estate, you don't have to work only with the seller to effectuate a legitimate purchase. It's for sale - anyone who makes the sale gets a piece of the sales price. I expect this is a similar arrangement. It broadens the opportunity for sale / exposure of the item for sale to a wider market.
One dealer might own it and another (or multiple) agreed to help them sell it for a portion of the profit (the more places it is listed, the better the odds someone sees it).
It's one of the latest scams on eBay where uninformed Sellers "borrow" a nice looking coin picture of a coin similar to one they want to sell. They believe it's a "stock" picture, especially when the original seller states they've sold more than one of that coin. I recently had an incident where I purchased the coin shown from a female who sells "collectables", never having sold a pre-1933 Gold coin. She sold a coin as was described in a previous ebay ad, but somehow used a picture of a "CACed" coin that I verified as being registered on CAC. The coin had never been sold on ebay, according to eBay records. After I tracked her down, and disclosed my identity, and intent if truth wasn't disclosed voluntarily, she informed me that the photo was sent to her in 2017. I accepted a refund, and now have a significant file of others who are using "stock" photos of coins that aren't deliverable. She stated that she just wants to list an ad with the best image to be found for her coin having the same credentials. She was correct, there are significant Sellers on ebay selling a certified image, numerous times. See for yourself, as I don't want to minimally violate copyright laws, or anothers' possession!
I have seen same coin advertised by 2 dealers. Upon checking closely on each respective web site, that both had the same physical address. Apparently some dealers have multiple business identities.
It was only a few months ago that I posted a thread about an eBay seller offering for sale the exact same coin that I had in my inventory and listed on my website at the same time. He even advertised it as the same serial number in his listing. Ultimately, he took it down after I contacted him about it, stating that he'd already sold it. I take that to mean he sold it to my source before the Spring Baltimore Show . . . at least 3 or 4 months prior.
Dealers often consign coins to other dealers. Sometimes they partner up and buy a coin with each paying part of the price. This could explain the multiple listings.
Dealers work together to sell inventory, advertising each others coins for better coverage. If you see the symbol: then several dealers are working together. Another situation is when two, or more, auction houses are owned by the same person(s) and list the exact same items. If one house sells the item, then it is removed from the others list. BK and Invaluable are owned an operated by the same people.
It's probably an issue when you have too many parties involved forming a cartel otherwise it's unlikely to be one.
I've seen this exact scenario happen before a couple times. Someone just forgets to log something out of their inventory and relists the coin using older photos. There's nothing sinister about that, it's just a mistake.
I've done the same . . . I just noticed and took down a coin last night that I'd sold a few months ago.
Yes they do have multiple monikers, but not multiple allowed sale of a singular registered item. If they remove the registration number from the coin shown, it might possibly fool a jurist. It will not fool an individual, as myself, who examines the coin rather than the holder. I'm exhausted from trying to deal with fraudulent Sellers, and a company that dis-allows buyer contact, but allows multiple payment/delivery of a singular contracted specific product by a seller! Ebay has now altered their site so the action can't be established prior to sale, but there are means to establish guilt by afore-thought! JMHO
These days there is certainly some chicanery going on with some listings…. But I rather think it has more to do with a wholesale website (that my dealer won’t give me the address to)…. Rather than lay out the cash up front, the dealers market the coin from the wholesale website…… Rather like what @Collecting Nut said. I have seen property marketed by multiple realtors before and none owned the property.
