What would you do if this happened to you??

When i was at my local dealer today and asked if he had any proof ASE's in stock he pulled out a few 2000's and a few 2002's . i asked him what he wanted for the 2000 and he said 19.95 at that price i jumped on it and asked him to hold if for a few minutes while i ran home to get some cash (i forgot my wallet) When i got back about 20min. later and was going to pay for the coin he rang it up at 32.00. I asked why and he said he looked it up while i was gone and desided he didn't want to get rid of it for 20. is this good business practice? I know i'm never going to shop their again but i was wondering if this happens alot or if it's just him.

 

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To answer your basic question "Is this good business practice?" the answer is NO. It would seem this person doesn't believe that good customer relations are worth $12.05. It makes you wonder how some people stay in business.

 

A one word answer would be NO, its not a good business practice. I have never been to a dealer who sold me a coin then looked up the price, it has allways been look up the price and then tell me what he will take for it. If I like the price (seldom do) I buy it or haggle a bit with him. They can't stay in business if they don't sell coins.

 

I'd be out of there, but I would think about giving him a good cussing first. Did you say anything to him about it?

 

Sounds to me like he still has inventory on his shelf gathering dust & lost a potential repeat customer.

 

I usually consider any offer to buy or sell as only good for that moment and, if I walk away, it is like it never happened.

However, since he agreed to hold it for you, I think what he did was wrong.

One other thing...

I would think he was making money on it at $19.95 or he wouldn't have offered that price in the first place. In which case, I would have taken the smaller profit and kept a customer. He could have even let you know that he knew he was letting you have a deal and come out looking like a good guy.

The only other option is that he was originally just blowing it off at his cost or a loss because it had been in inventory too long. In that case, he didn't gain much because it is still there in his inventory.

 

Your local dealer is a total loser. I can't believe he'd do that...

I'd never go in there ever again.

EVP

 

Also sounds like you showed a bit too much entheusiasm which made the louse suspicious. Remember, when buying coins bring your best poker face, this aint Walmart where there is a price tag. Capitalism says that the market will set the price, and your eagerness to get the coin helped push the price up.

Agreed that the price should have gone up for the NEXT guy and not you, but this was a fairly cheap lesson to learn this time around.

I spent a summer living in Taiwan as an exchange student and the only word I learned (or remember) with any degree of usefullness was the word "tai-guela" (my romanized spelling is probably incorrect) which means "too expensive".

Always act as if the price quoted is just a little bit higher than the maximum price you wanted to pay, even if it is a bargain.

 

He's not "coin" dealer, he sells sports cards, comics, and coins, but it's mostly cards and comics. It's sad though because he is the only one around that has coins for sale. :cry:

 

Sounds like there may be a business opportunity in Sheboygan for some enterprising numismatist...just a little friendly competition.

 

I hope you thought it over well,and then told him to stick it.... back in his inventory :wink: This guy isn't a numismatist,he's a coin seller. There's a big difference! :? I know any professional coin dealer refers to himself as a numismatist,but that's far from the truth.A numismatist is someone that study's the history and lore of coinage. 8) It's a noble science,once called the hobby of King's.Today there are many collector's and many dealer's all over the world,some good and some bad.Unless your willing to pay the dues and do your homework,your not a numismatist.This seller is definately NOT a numismatist :x in fact,he's not even a good businessman! ah well,he's welcome to keep selling baseball cards :roll: ~ Jim

 

I agree: You asked him to HOLD it for you. That sets the price. The deal is closed. He went back on his word.

Myself, I might be not quite mad enough to talk to him about it and get the material for the agreed-upon price. But I just might be mad enough to do nothing except turn right around and walk right out of the store.

If you buy the coin after he welches on the deal, you validate his opinion that you are a sucker.

 

I stopped in today and he had a nice 1928 MS-66 saint for sale (his grading not mine) i asked the price and he said for me only $1,500 sticker price was $2100 i told him to hold it so i could go to the bank pick up some cash and buy it. about 2 hours later i stopped in again (you should have seen the smile on his face) looked at it for a few minutes and desided not to buy it because it wouldn't look good with all my 63's and 64's. Man was he Pissed. It was a blast, last time i go there though, i don't think i'm welcome anymore.

 

Nice. I think your response was appropriate and proportionate.



EVP

 

Hahaha, that's a good one. The sad thing is that he probably did not make the connection.

 

You didn't say if he agreed to hold the first coin for you, or if you just asked him to. Either/or he should have stood by his first quote, in my opinion. Next time either take your cash with you, or just use your pokerface, without asking item to be held - then just come back and get it you don't have cash with you. Chances are it will still be there. The pokerface - yes, be sure to use that.

 

I would have to agree!

I never let on to a good thing, because there maybe another good thing a moment away!